Am I missing something here? We have around 250M ounces silver equivalent but only about half is in the indicated category. So will this not pull down future buy-out price? I hear what Cope and other insiders have been saying about buyout being imminent (whatever that means....maybe within next 6-8 months) but I'm struggling but not fully understanding the logic. PAAS did us great harm IMO by not drilling during at least a year while they were playing games with this property. My take is by not drilling they kept indicated category low and could then try to low ball an offer. So, if in fact that was the PAAS game plan and nothing has changed since then (we're not drilling) and if we don't move some inferred to indicated, why should we expext north of $5....where is the logic? I own a chunk of Orko around $1.85 so underwater at this point and sure I have dreams/hopes that we'll see this come to an end. I'm just trying to grapple with the logistics of what a buyout price might be and why $5 say is a reasonable take-out price. Also, this point around inferred making up half the play I presume will be the first concern shareholders in the company that makes an offer will voice their concerns about.
I sometimes think I should add to my position (greed over logic perhaps) but current sp is along ways from $5. I know Sprott is in for a huge chunk...anyone know their average price as I thought it was over $2. Some good discussion here on this board so appreciate opinions on the logic going forward.