and you just know that whether or not there is gold at La Victoria, there will still be more deals to come of similar pedigree. People like O'Keefe don't waste their time with anything less.
Our partner Eloro is capped at around 30M fully diluted and the latest financials suggest they don't have a whole lot of cash (<1M). So if you assign a notional sum to the Canadian leases + cash, their La Victoria is worth ~28M. Our 25%, once we earn-in, is therefore valued at 7M. So there is reasonable scope for us to double in market cap before drilling even commences.
Based on these rough metrics, and the historc M&A activity (1B+ acquisitions), even a modest discovery could easily put our market cap at something like 100-150M, which is 20 times the current market cap. The leverage to discovery here is monumental. Its a virgin gold project with proven artisanal workings but no drilling and in the heart of a world class mineral belt, flanked by big mines along trend. There is a great macro backdrop for gold and we have the absolute best management in town. I have never seen such a great opportunity with the above combined factors!
BDM Price at posting:
7.0¢ Sentiment: Buy Disclosure: Held