Stock price when the opinion was issued
One of the few good projects out there, that offers a relatively low CapX to build. A high grade oxide deposit, which is a heap leach process that he had real concerns with initially that far north. He went through this with their technical expert in a lot of detail, and it will leach. Infrastructure is a bit of an issue, but he thinks it can be dealt with. A good project and something you can accumulate at this price.
Top guys in the business. Made a discovery in the Yukon and have been drilling the hell out of it this summer and should have a resource by early next year. He is guessing it will be in the order of 2,000,000 ounces at a reasonable grade. What you need to look at, when that resource comes out, is the high-grade structure which may be enough to cover the CapX.