Interesting approach but it could be dangerous if the stock suddenly takes off. If what you say is true then would it not be safer to put it up for sale at say $15.00 instead?
OK - $15 per share times 187,500,000 = $2.8 billion.
At $100 per ounce, that would imply 28,125,000 ounces of gold.
It took EXS $10mm to confirm 800,000 ounces so to drill off 28,125,000 ounces would entail 30 times $10mm or $300mm of exploration dollars.
Question: How many shares of dilution will be required in order to finance that endeavour?
Comment: I see a more realistic approach that would involve doing a deal with a major when they get to 1,500,000 ounces.
At a 30% free-carry, $5.00 per share would be an easier task ex-dilution if they can get to 1,500,000.
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