Book value 2.62 Currently the shares are trading below asset value of 2.62 per share therefore if one expects gold to move higher and given the fact production will be increasing because of the aquitiion alone and the new mine going into production in the first quarter of 2013 the shares are relatively cheap. In my opinion, I have read prices ranging from $4.70 to $5.25 per share over the next year. If you think gold will move higher than you just have a junior that is becoming a mid tier producer here.
good luck to the longs
Also current price action reflects portfolios being adjusted from the AVR aquition. That is why we are having this current share action taking place. Once the dust clears we should have a direction set on the share price.