$50 per oz / hey genivar I don't tend to give too much credibility to "$ per oz in the ground" valuations. But I have to admit that a couple of recent explorer/developer deals do seem to have gone through around the $50 mark.
So with a 4million oz resource and 248.7m shares fd(!!), that'd be around $0.80 per share in a take out scenario.
If GBB had a stronger balance sheet, we'd likely see $25 per oz in the interim of a take out. Unfortunately, we can continue to expect to see GBB and its gold valued at daft levels whilst the market waits to see if management have the ability to dig the company out of its current cash hole.
Now then, imagine if genivar did the right thing and ponied up $7m+ to make the court case disappear. sp would re-rate. And provided management agreed to apply the cash conservatively, including for production, then that really would be an early christmas present for those of us keeping the faith...
ho ho ho
sjm