Buyout valuation Schiff posted that we should expect at least a 100% premium over current valuation. Let's examine the logic of that statement. We assume that GWY is in discussion to sell at least Cali. Plus, there appears to be a gag order in place regarding the release of drill data. Why would GWY accept a gag order that does nothing but depress the SP and cause uncertanty? You would have to assume that GWY has a firm, acceptable offer in hand based on the unannounced drill results and the reserves estimate that are known by the the prospective buyer. If GWY was unhappy with the offer, they do not have to adhere to the gag order and simply release the drill results and 43-101 and let the market establish GWY's SP.. All this points to a done deal. The current SP is immaterial if there is an agreed price in hand, conditional on getting the paperwork done, which is more than likely the reason for delay. Schiff is correct, expect a decent premium.
The forgoing is only my opinion. Along with $1.50, it will get you a coffee.