RE: RE: Is this GWY positive? I agree. As I said earlier, this is another comp which is very very very hard to ignore.
Though I did hear Batista say in an interview that they are up to 10M Oz. If that is true, this deal represents $400/oz.
1.5M Oz for Cali is too conservative. Let's say 2.0M Oz (although it could be 2.5M as well given all the drills) and $250/oz (there is value in bringing assets closer to production so that is why going with a lower figure) will get us to $500M or $3.33/share.
I can live with that if that is for Cali alone. Trhow in other assets and you start getting to $5+