RE: TRR Gets bought out at $3.30 This buyout of TRR totals 177.366 mil shares @ 3.30=585.3 million
TRR's recent 43-101 amounted to 6.8 mil ounces @ grade of approx.90gpt(low grade) compared
to GCU. This Buyout equates to approx $86 an ounce for a low grade deposit. In an article interview
with IAMGOLD they were suggesting they could buy a project at $65 to $70 an ounce(I Guess they
couldn't)
Based on this buyout of $86 ounce, GCU would currently be worth approx $344 mil(based on
current 4.0 mil equivalent ounces). Buy the time we have our PEA next spring with an projected
estimate of 7.0 mil ounces we would be worth $602 mil (based on $86 an ounce)
Based on GCU's diluted shares outstanding of 127.686 mil(see my earlier post of April 20th for
calculation) and using $86 an ounce, GCU's current share price should be 2.69(plus value of other
assets) based on 4.0 mil ounces , and by the time we get our PEA of 7.0 mil ounces GCU's share
price should be at $4.71( this is a bit lower than Analyst projected price,because they are using
$100 an ounce for gold)
This Buyout should be good for the junior market since IAMGOLD paid $86 an ounce, not $65
to $70 an ounce(a premium of approx 27 % to the estimated average buyout price of $67.50)
they had suggested to the market a couple weeks ago.
GLTA LONG GCU