I'm not sure how you got $1.25. If you were to look at the worst case then you could say after tax NPV is $67M, and we own 25% of that and we're "overvalued". Do I think that's the case? No - but I'm sure there are some who looked at the BFS numbers, had a vague understanding of the agreement and sold, then traders got back and saw the momentum and shorted and the MM's took advantage of all the shares being freed up.

Managements communication isn't particularly clear, and if it wasn't for this board I probably would have sold a portion a while ago and sold another portion after the BFS. They still haven't updated the website and the homepage says they're working on the BFS.

Again - it doesn't really answer my question. How does the inferred get valued? It's not at 100%, let's not kid ourselves. This is a business deal, why would they fold that easily. Even from a scientific perspective ... they just can't be sure that all of it is there so they can't just say it's all there, complete opposite of science (i.e. looking at observable data) to do so. So it's worth a percentage. But even outside of that, where does the inferred fall? It makes a huge difference to our NPV and that makes a lot of guessing. If it's all mined at the beginning that has a MASSIVE impact on our SP, if it's mined throughout evenly it has a modest impact, if it's all mined at the end it's negligible. I really don't have the technical skills to know how and where it's mined to be able to tell, and know that there are those on that this board who do. Outside of "when" how much do we say is actually convertable economically? Not all of that rock is waste, but not all of it is metal either - some of it is probably waste and some of it is probably metal. So what percentage do we assign to it? I don't know and was hoping someone could shed some light on that.

Like Vette mentioned, we only use half our resource in the BFS? So how does the rest of the land get valued? I don't full grasp why it wasn't used either...Is the rest of the resource economical to mine? So how do we value that into a sale or value?

The BFS was supposed to clear things up, but I feel like there's more questions.