Time Out In light of all the discussion about the hopes that we can be taken out at a dollar or a few pennies more let me remind you of the sale that took place next door.
"A company was just taken out about 60 miles away as the crow flies from where we are - Richfield Resources. They were just taken out at $550 million market cap at about $10 a share last month . They were reporting 4 million ozs inferred and indicated and they own 72% of it. The grade there is about 3/4 of a gram. Our cut off is much higher than that and we expect to have - this is a bit of a forward looking statement - we expect to have more ozs than that." Frank Callahan May 10, 2011
Despite Frank's inability tp produce I believe two things remain true. The sale price for 72% ownership of 4 million ozs right next door (minus two mills) was $10+. Secondly if not with the upcoming 43-101 there will be 4 million + ozs on the Barkerville property.
Barkerville, despite Frank's efforts, is the goose that laid the golden egg.
Therefore any discussion talking about being taken out anywhere near one dollar sounds much more to me like a bunch of traders who are hoping to get a bump in pp enough so they can bail on the stock, than a realistic evaluation of the situation.