Great post Milsy. However, I will use the Newmont takeout of Miramar as example again. They paid a ratio of between $333 and $444 for every ton of ore in the ground to them and their message boards have irate longs thinking they got ripped off on a low ball offer. For us if we have 7.9M tons of ore, simply multiply that by $333 to be conservative and divide by that fully diluted o/s shares you quoted 123M and you get $21.39 a share based on the most recent giant takeout by Nemont in past couple weeks. More optimistic, using the $444, you get $28.52 using all the same logic.