bigbab - I agree with your philosophy that we should think about the alternatives that could come with a Snowden report of something less than 10mil ounces and should be prepared to act on that. That said, I asked you specifically to work your numbers magic and tell us, as you have done countless times in the past, what you think the cutoff in ounces that would make the Reeks Harbour deal attractive. We KNOW that is not 10mil ounces of course. But at what level, giving a reasonable assessment of the gold value per ounce as you have usd in the past, will an injection of $100+mil and 35% dilution be worth it for the small retail investor like me? If you can do that, it will be much appreciated by me.
Secondly, once you have come to that number, do you honestly beleive that Rex and his gang will continue with their current offer? Based on how it was written, it looks like a moving target to me.
Finally, I really wonder if they did not table this current "offer" at the time they did because they were 1) waiting to see if Frank's loan went through as it bought BGM 2 months and their "offer" may have been WAY less if the loan did not get through and 2) they were waiting to see what Snowden's numbers were going to be. I have no idea if they have seen what Snowden's numbers are going to be but how else would they base the value of their offer unless they know those numbers. I doubt that they are just throwing money around on speculation.