10m value more likely and retain a % in royalties IMO
Not going to happen in this market though, more likley over the next 12 months IMO
You can't assign any value to something you haven't drilled and don't know the resource size, or from an accounting perspective something that you got for free via Normandy/Newmont.
Keep in mind Mt leyshon produced 2.5m oz's Au and 2.3m oz's Ag when the from 1987 to 2002 when the gold price was $200-$350 / oz. They can afford to mine much lower grades there now with gold at ~$1370. Pick a figure...
LRL Price at posting:
18.0¢ Sentiment: LT Buy Disclosure: Held