RE:RE:RE:Very conservative estimate of buyout cash As much as I would like to see my portfolio in dark green, OCO will not be bought by Goldcorp in the near term (meaning 2014)! At least not for $ 100-200 million!
GG knows that OCO needs cash to carry on with business and exploration.
So why pay $ 200 million now when by just waiting it could be a lot less ?
And even with Goldcorp's 28 holes drilled, they couldn't determine the full potential of this property, That would need 130 + holes being drilled (see Newstrike's Ana Paula project).
Newstrike has delienated a very good resource over the last 3 years, close to Goldcorp as well.
That's 2,2 million ounces AuEquiv. @ 1.63 gpt from 130 drill holes. Not bad, I would say.
And they are worth $ 90 million.
No way, Goldcorp would pay double that based on just 28 holes!
Stay realistic here !
FANTOMAS