RE: Taylor you'd be happy with 65 cents??I believe this is the next potential Osisko and I believe Granada will eventually prove up 7 - 10 million ounces at a grade of between 0.8 - 1.2 g/t au rivaling Brett Resources' Hammond Reef Deposit which was bought up for $380 million dollars last year.
65 cents is miles away from this thing is worth and I believe GBB in 2 years could easily be worth $500 million dollars or $3.00 a share when we've doubled the size of this deposit from the current 43-101 I'm expecting.
Looking at companies in Africa and less favourable jurisdictions being valued at 3 times ours for ounces in the ground only solidifies my belief that we have a complete lack of downside here as I can't find any companies in Quebec being valued at less than $40 / oz for their gold, let alone GBB's $20 dollar valuation per ounce here based on 3 million ounces.
65 cents is not what I'd be happy with nor is it close to what I think GBB is worth but I don't think Osisko would be sitting around for other majors to bid on a GBB come the 43-101 and would be happy to pay 65 cents especially with 4 km of strike length to the east with the Adanac property already picked up by them (from THG).
I believe GBB's current fair market value here is about $80 million dollars or closer to 50 cents a share currently as we have yet to receive our 43-101.
On receipt of the 43-101 I believe we'll get a re-valuation much closer to 80 cents to $1.00 which would be $50 / oz for the gold at Granada.
There are no delusions of grandeur here with GBB - you only have to look at past examples of companies proving up Resource Estimates of over 3 million ounces to see how their story progressed 3 months later.
Richfield Ventures went from a $4.00 stock to $7.50 before being bought out for $9.00 + a share 2 months later after their 3.8 million ounce Resource was released.
Trelawney went from $3.00 to $5.20 and now sits at $4.50 and is a huge take-over target in Chester, ON after releasing 4.2 million ounces Inferred Resource Estimate.
Orezone went from $1.25 to $4.20 over 4 trading sessions after they released an estimate of 3.5 million ounces at their Bombore Deposit in West Africa.
Brett Resources who was purchased by Osisko went from $2.00 to a buy-out of $4.50 + a share based on 6.7 million ounces at 0.7 g/t au in Ontario at their Hammond Reef Deposit.
Gold Bullion Development is currently in the process of releasing a 43-101 Resource Estimate and has traded between a market cap of $60 - $70 million the past month.
Orezone - $270 million dollar market cap - 3.5 million ounces in Africa
Trelawney - $620 million dollar market cap - 4.2 million ounces in Ontario
Brett - $380 million dollar buy-out - 6.7 million ounces in Ontario
Richfield - $500 million dollar buy-out - 4.0 million ounces in British Columbia
Gold Bullion - $63 million dollar market cap - 3.0 million ounces in Quebec
Either Quebec is one of the worst mining jurisdictions in the world (Not true), our gold simply isn't there (Not true) or we're currently receiving a complete disconnect with our market cap and the market's valuation for us.
Be my guest and buy after the 43-101 but Osisko and other majors aren't gonna sit around and let GBB trade at a $75 million dollar market cap without walking in and scooping them up with a 43-101 of 3 million ounces in place.