Question for you guys: how are you valuing CDCH? Right now it has about a 12 million market cap. What market cap do you think it should have? I have no idea how to value a property that has no real drilling done on it. The reports on the CDCH website say virtually nothing. I understand there's a buch of circumstantial evidence that minable minerals exist, but all found in the reports was that the highest sample had 33g/t - but they don't state what the average finding was. The highest grade sample is usually not the most accurate indicator of overall grade.
I understand that a JV with a big miner to explore the property would be a big development, but I'm not sure why this should get a lot higher than 20 million, or why it wouldn't fall right back to 12 million after a brief bump, without more definition. Are you expecting information in addition to a JV announcement? These JV's are just to start a drilling program, right? And I have to assume that CDCH will lose more than their 80% stake should these other companies choose to develop the land.
I just not sure what to expect here. I freed up some money to invest, and I'm considering this, but I don't have a clear idea of what I should be expecting. If you could share your thoughts, I'd appreciate it!
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