BRI buying BGCI hope it is worth almost 40% premium...
https://www.brazilresources.com/news/index.php?&content_id=70
I suggest BGC ran out of money (1,4 mio. working capital as of march 2013) and BRI should be able to get the money to get the projects forward what I could see the Sao Jorge PEA economics look ok with 125mio. capex, After Tax IRR above 30%, around 4 years payback and After tax NPV (5%) around 230mio - at $ 1.200 gold! At $1.500 gold this one looks really nice...
Let's wait and see what Mr. Market says.
DYODD
carinthian