The future is bright (in my opinion), page-6

Cashmeout, with all due respect, whatever your current assumptions of value today, the only realistic benchmark is the recent transaction between mod and mtr. Mtr ascribed a value of $26m on the day it was announced. That deal has not even finalised yet! To suggest selling out because I valued the project at mtr's own price is a bit much considering!

I know what you mean about Sp and value. You seem to be ascribing the $50m difference from johns 30% npv to a favourable dfs and $3 copper. There's a lot of numbers to fiddle around with. I guess we won't know much more until someone takes a nibble, hence the I don't stray to far from that transaction price. There's always risk as well as reward remember. 

However there are plenty of targets to drill so that balances out any t3 issues. I just tend to keep my feet on the ground when looking at these things.