RE:RE:The Beast Has Now 3M Ounces Of Proven Gold Under The Belt
GoldNHill wrote: The BEAST at 3.065 million ounces is now 6 times larger than Atlantic Golds Touquoy Zone that got bought out for $2.80/share.
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Hi GoldNHill,
I like your enthusiasm, but I think you cut a few corners in your comparison with Atlantic Gold. At the time of the takeover, the ressources were over 2M ounces for Moose River (not just Touquoy), and they were all open pit ounces. Besides, it would seem that St Barbara overpaid a bit for the takeover since they were forced to write off around 250 M$ of their Atlantic assets a couple months ago due to permitting problems.
But that being said, I am still pleased with our DFS. It shows solid economics and I believe the share price can only start climbing back gradually as we pass the remaining hurdles before we are shovel ready. With the possibility of new discoveries that could accelerate the climb.