No rest for the weary here, just going through the actual numbers in each takeout to account for Au plus Au equivalent in each scenario plus any additional anomalies etc that could have factored in.

I will agree that in the event of a takeout, the price per oz will be higher than the value attributed in normal trading. I also like to stay conservative which is why I base valuations on existing valuations in the market currently trading as well as takeout scenarios as I believe, based on the time to compile a 43-101 given the current drilling program, a takeout is 2-4 years away.

Still a big potential provided that the overall tonnage / oz in the ground is sufficiently large which based on the data to date does at least lead to some positive speculation. From an investment point of view, I tend to be a little more "glass is half empty" investor who tries to determine the risk / reward scenario and try to get a 5:1 ratio when possible (if I think downside valuation is 50%, I want a reasonably justified 500% potential return based on comparable transactions if the oz in the ground pans out).

I would like to express my appreciation for the information provided both here and in pm as it has been exceptionally insightful.

I will go listen to your referenced interview as well and promise to post once I have finished the review of the referenced transactions.