response to RKTeNNThis will be a brief response due to lack of time but here goes:
I haven't read the Cannacord report but $35-45 PER OZ is too low. The best point of comparison, I think, is AGE's takeover offer for Riddathyttan Resources, a Finninsh junior with a deposit in Finland of around 2million oz.(reserves and indicated- check out their website). AGE is offerring $166million for the rest of the deposit they dont already own. (they already own something like 16% of the company)the numbers I used from both their websites indicates a value of around us$83 per OZ. (although wellington west indicates US$60 per oz.
So using this as a rough guideline I think Eleonore is worth more than 83 per oz. It's bigger (3.5 million oz drilled to date!) and richer and closer to electricity and relatively easily accessible. I think it's worth US$90 per oz. So right now it's worth about US$90 x 3.5 million divided by 50.4 million shares = US$6.25 per share for Eleonore only. Add $1 for all the other properties and the cash in the till($30million) = US$7.25 = CND$8.50.
But there is lots of upside, new zones to discover plus the best properties in quebec, plus a great team of geologist (a rare commodity these days). So I think it should bring in at least 9 bucks a share. I think a deal will be announced very soon, october or november and I think VIA will create another company that will keep all the other properties and only Eleonore will sold. I think the winner will be Placer Dome or Glamis with Newmont and Teck as possible runners up.
I dont know how the stock will react until then but it will go above 8.21 before too long and also below 7 before too long. Welome to gold stocks. I'm not selling yet.
Regards S.