Ann: Gold Asset Decision, page-10

So it cost Leopard $500k in scrip, they drilled it and didn't find anything economic, and now somehow it's worth millions? I just don't see that. An operating gold mine nearby might mean something for the nearologists, but I think it's drawing a long bow. And obviously an operating gold mine like Darlot's is an actual asset, compared to a bit of pegged ground that might be worth nothing, as most tenements eventually are.
I don't blame Paterson for trying to pick it up, but not sure he'd value it at millions either. It would be nice to hang onto it if CIO could for little outlay, but it's starting to look like a money pit to do so. Small cap companies don't really have the cash for protracted legal battles they don't have to fight. It's ruined more than a few. Unless they believe they have a rock solid case (which looks unlikely at this point) and there's reason to believe, despite the previous drilling, that this is somehow a great piece of ground worth fighting to hold - I'd rather they cut their losses.