I  like that the SEDAR valuation is at least higher than what the current bid is however,  I still think we are in phase 1 of the bidding process.

I'm looking at this just like bidding on a piece of real estate... the property has been on the market for awhile so go in with a "stink bid" and lowball it.  If they accept great, if not you haven't lost anything.

Second offer should be more around what you think you can aquire the property for closer to fair value.

Third offer should be when there is numerous other interests and you are looking to make the best offer and scare away all other contenders.

So currently we are at the "stink bid" phase.  Our "property" has been sitting here for quite awhile with no apparent interest in it so of course any interested party is going to try & bid low and pick us up on the cheap.  Real value has not come into the equation yet.

Now that SEDAR has come out with a better valuation we should see a few more offers closer to this value but in my books we won't see the big boys swing the big hammer for a bit yet.

Once that happens i truly think we should be hitting close to the $3 mark and more if they are truly serious about locking this up and getting a stranglehold on the area.  This aquisition would set up any company for this generation and at least one more...no need to look further.  The Ring has it all.

One more day closer...

A.