End Game...? SGD currently has a market cap of just under $1B.
Agree SGD will be bought out since there's no way this company can fund the capex needed to pour any gold given where the land packages are located and the amount of initial capex that will be required to get to first pour. When and at what price per fully-diluted share are the questions.
I think it will be at least another couple of years before a buyout occurs. When it does, I bet it's an all-share deal with BTO being the favorite. I doubt ABX will be the buyer as Bristow seems to be steering the company's future towards a more copper-heavy company or acquiring current producers that will add ounces immediately.
As far as the share price equivalent SGD shareholders will receive, it'll depend on how far the company has proceeded with their find(s) (MRE? FS?), how many fullly diluted shares exist at the time, how much initial capex the buyer estimates it will cost to get to first pour, etc. Wouldn't want to venture a guess, but I doubt the total dollar equivalent purchase price for the company will be any more than $2B given the above.