RE: Hit miss ratio for GBBHey Sharpie,
Curious how much does Osisko pay a professional basher such as yourself? This deposit is world class and they know it! That's why they are suppressing the share price to make a take over as cheap as possible! But if you do want to make a comparison then lets do it:
1) The capex on a similar mine for this deposit will be half or even a third of what malartic cost. No town to move, no legal battles and delays, and no over burden to move the mineralised rock starts at surface. They will make money while digging the pit!
2) The grade is very economic especially if they prove up 100's of millions of tons which is VERY likely and if they connect the two long bars zones and Aukeko you are talking well over a billion tons without even going deep which is a whole other pile of gold. Agnico is mining 1000 meters down and you have to think there must be some very rich feeder veins that this huge bulk deposit came from. But just the surface stuff is fine. Argonaut is mining the Castle deposit in mexico (used to own the original company) at a grade of .4 gm per ton with a cutoff of .2 and they have a strip ratio of 1.5 waste to 1 mineralised and the LOF cost is coming in at @400 and ounce. Very profitable. Assuming the grade increases with the nugget effect the area is known for (we know the bulk sample came in at 1.6 from a drill of 1) then a drill average of .5 should give us an actual average of more like .7 gm per ton. Hmmmm On 500 million tons I get well over 10 million ounces! On 100,000 tons a day the mine life would be @14 years and cost per ounce WELL under $500 US so we are making $1000 an ounce. 36 million tons even at .5 with a cut-off of .2 would give us @600,000 ounces a year or 600 million in free cash flow. WOW sounds a lot like Osisko to me!
3) The upside on this property is montrous. They could spend the next 5 years drilling 7/24 with a dozen RC drills and who knows how much gold they would prove up but I for one and looking forward to watching it all happen over the next few years. I doubt it will be GBB who does all that drilling but whoever it is I think the will be VERY happy with the results!
This stock is being manipulated FOR SURE! And u only put in that kind of time and money if you think there is something worth STEALING! It will still be a nice payoff from today's price. I think $2 a share right after this first 43-101 would get the company and that would be an unbelievable coup for who ever pulls it off (Osisko? Duh!)
So i guess in a way everyone does well as a 400% return in a few months is VERY good and the acquiring company gets millions of ounces on the cheap! I for one won't waste my time bellyaching about what could have been and if you want to ride with the takeover company then do as I think they will use their shares as currency. All in my humble opinion but so far it has all played out as I thought it would once i figured out what was going on. Took me till about March to connect all the dots. GLTA long and don't be TOO greedy on this one. Always another one around the bend!
Longrider