To name a few:

Atac - 95 million shares out, $665 million market cap, high $855 million

Kaminak - 63 million shares out, $230 million market cap, high $250 million

Northern Tiger - 84 million shares out, $40 million market cap, high $80 million

Underworld - bought out for $140 million

Ryan Gold - 82 million shares out, $180 million market cap, Ned is in on this big time

Strategic Metals - 82 million shares out, $265 million market cap, $300 million high

Assuming Wolverine gets a spec valuation similar to at a minimum NTR, that's a share price of 1.15. On the other end of the spectrum, if WLV gets ATAC type valuations off the high that's 24$. I expect there would be some dilution along the way to drill and options but there's some upside once they announce something.