RE: RE: RE: Grail, you are delusional Pettycamp,
You and Grail are talking past each other. You both have valid points.
The question is, if Lombok was put up for sale today, would the open market plus a premium determine the selling price?
Your position is yes.
I don’t think so because the majority of shares are held by insiders, institutions, Qatar, and long suffering shareholders.
The price of gold is holding compared to last year. At that time institutions and Qatar put up a lot of money at $1.60. Surely their due diligence must have shown potential to make money at that price.
What ever gold is in the ground is still there. In fact last year’s drilling(after the $1.60 buy-in) has confirmed that the gold is there. The drill program proposed for this year was to confirm and expand on the deposits.
Therefore it is reasonable to assume that the majority of shareholders will not settle for anything less than $1.60.
Just for comparison, how much gold would have to be found in today’s market to justify a price of $1.60?
Say today gold is worth $50 an ounce in the ground. Roughly 110,000,000 shares are outstanding or $ 176,000,000 at a $1.60 a share.
At $50 dollars that is 3.5 million ounces of gold. What are the chances that the three drill targets will identify this much gold? I’ll let you do the speculating.
Now I am baffled by the halt trade and non news NR just like everybody else.
There can’t be a buy-out offer on the table. Surely such a material event would have had to be disclosed.
Stop drilling at this point in time? This really stumps me. What could have triggered this?
Is it a question of thinking that we still have $18 million(aces) left in the bank, should we leverage the 18 million and team up with somebody or maybe outright sell at this time?
Let’s face it even in today’s market, as shown above, the right buyer may put $2 plus on the table.
This is all speculation on my part.