RE: What's going to happen to the 46,300 oz gold s >>>>With today's gold spot price it's worth 46,300 * $1778.60 = $82,349,180.<<<
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er, NO! I don't blame you, as many posters make this same mistake, but that is not the value of "gold in ore!"
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Gold in the ground, or in this case gold in ore in a stock pile, is not worth spot prices! The problem is that in order to get spot prices that gold in the stock pile has to be converted from gold contained in broken up bits of rock to gold bullion. That requires a milling/commutation step as well as a refining step - THEN the gold will be worth spot prices. But those steps MEAN COSTS! I am sure if you were willing to pay spot prices or spot minus 10% on that ore the company would jump at it in a heartbeat!
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So the point is that the "value" of gold in the ground or in a stock pile is the Spot Price MINUS the company's costs to extract it and convert it to Bullion.
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So that is the first consideration one needs to take with the stock piled ore. The second consideration is that some of those ounces are already sold forward with the derivatives AVR used to raise cash to keep from going under earlier this year. Not all gold sold is at spot.
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Finally, the "value" in anything isn't what YOU or I think it should be based on some back of the envelop calculation, but what a willing, third party, buyer is willing to pay for it. In this case it is pretty clear that EDV was the willing buyer and the price must be right, or close to right as no additional bidders showed up - as one would expect if the price was a low-ball offer.
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So learn how things work in the sector one is investing in or get snookered by the many Charlatans that are out there! Good luck investing!