RE: RE: The paint has finally dried... @ Scout,
Believe me, Scout, I would love nothing more than to see our share price where we rightfully belong. I just don't want to count any chickens before they hatch.
If our revised 43-101 shows us to be at or near 5 million ounces, then our price should catapult well past the $3.00's (let alone the $2.00's) and into the territory where we once stood, in better times. For all the newbies, that number was north of $4.00, by the way. Andat every interval where the project becomes further derisked, in a perfect world our share price would reflect that, and inch ever higher, accordingly.
In terms of a buyout, I can't see management even contemplating any offers less than the $6 - $8 that you suggest (especially when accounting for premiums to be paid for such a valuable and derisked asset such as Springpole). But a very reliable little birdie told me that management actually won't sell for less than $10.00 a share, which is where my sights are really set on.
To get to that number, admittedly, we're going to need to drill a heck of a lot more than the 15% of the property that has been drilled thus far. We're also going to need to solidify our working relationships with the Natives and ensure that they are fully on board, with no surprises. Additionally, the economic study will need to demonstrate that the lake drainage and issues surrounding same will not have a significant detrimental impact to the financial feasibility of the project. Environmental permits will need to be secured. Further ounces will need to be proved up. And while all of the above is a hefty list of "ifs" that need to be overcome, I remain abundantly confident that the team currently in place (let alone any more additional hires that may be coming our way) has the wherewithall to achieve success. If our stars align as they should, then yes, $6-$8 is VERY realistic and may, in fact, turn out to be too low!
So, to reiterate, please don't misunderstand me when I say $2.00 in the near term, and north of $3.00 into the new year. These are the baby steps - the "jumping off" points, that I refer to. Maybe CIBC's analysts are rubbing off on me a little bit. They tend to be a lot more cautious than the others that are following the company; so far, they have been playing The Price is Right better than the others.
I just wanted to put my prior posting into a greater context and confirm that I am very much in agreement with Scout's assessment on the future share price of GCU.
Long live the GCU longs!
Barisian