Snug,
There is not a scale built adequately enough to convey the deep sense of happiness I will inherit @ SPQ > $1.00. Not only will this have been close to a 10 bagger for many of us, but we will be ~900% closer to $2.50 and talk of an impending great party is occasion to be excited.
I'll need more cushioning for the edge of my seat if DE2 assays don't arrive by this week - interestingly, major NR from DE1 and DE2 have been overwhelmingly biased toward Mondays with the exception of a few Fridays. Strong assay results on DE2 are as much an indicator of what may be to come for SPQ/KWG/FWR as they will be for NOT. I would love for Monday, March 24th to be this day, albeit I'll be as happy this week if NR comes later in order that everyone involved may spend time with family and perhaps hunt for Easter Bunny Nuggets.
With the Noront DE1 deposit only 4 km away from FWR claims, the likelyhood of shared fixed-costs mean that further finds need not be as lucrative to be considered for development to a mine. This considered, here is a quick buyout-range projection for SPQ share price with 7B tonnes, $700-$1000 avg/tonne, and 30-40% insitu buyout (Based off DE1 type geology, assuming no other SPQ finds, and interpreted from NOT market value not Geology).
$2.34 - $3.03/Share SPQ projected buyout value based on hypothetical DE1 equiv. deposit.
Min to Max hypothetical projected range upon DE1 type find: $0.385 - $3.03
Snug, proceeds achieved beyond a $2.50 share price would make for the party of the century, what type of dip should I bring?
Happy Easter All!