Try to find any buyout within the last 7 years that shows the stratospheric numbers that posters are hoping for

Only a few short years ago, Kinross paid over $400 per ounce of recoverable gold for a project when the going rate was closer to $100-150. It happens. The bidding war for VB was in fact crazy because it was an industrial metal subject to cyclical swings in price. There are times when companies underpay for purchases and overpay.

I think everyone here realizes that the key to shareholders getting the true value lies in (a) the spread between selling price and cost and (b) a bidding war.

We have to remember that unlike a gold project, even a robust gold project, a critical fcator in someone wanting to buy the Company is cost savings not profit margin on sales. This brings more end users to the buyout table. A miner buys this project for the profit, a user buys the project to secure a cheap long term supply.

Someone could make a $4 public bid tommorow, It would then be up those well connected board mambers and managers to solicit better bids. But if a stink bid came in and the Board did not recommned it you and I as shareholders would have a chance to vote.

OSK just had a 2 company bidding war and it improved the final offer. AE has stated to several people at various times that his goal is to create such a bidding war. For now, this is just a goal.

The other thing to remeber about the junior market is this. Historically, when it is a down cycle it is most often a BIG find or purchase that brings it back to life.

We can't predict what will happen tommorow with stocks let alone to the ned of the year. We can only build the case for serious undervaluation. As was mentioned a few posts ago, we can alll make that case quite easily.