RE:Stellar results at BotoBased on what B2Gold paid for Fekola. If the drilling ends up proving the following resources for Merrex Gold:
Karita @ 2 Million Ounces (100% Merrex owned)
Diakha @ 2 Million Ounces (50% Merrex owned)
Siribaya Gold Deposit already proven with NI 43-101 @ 600,000 Ounces (50% Merrex owned)
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Total 3.3 Million Ounces of Gold Merrex owned portion.
Based on what B2Gold paid for Fekola per ounce, that would be a buyout of Merrex for $330 Million for Merrex Gold alone, not even including IamGold's portion of owned resources.
$330,000,000 buyout / 155,000,000 Shares Outstanding = $2.13 per share.
Based on the potential your research showed, Merrex Gold should be bought out for $2.13 per share. But obviously, like you mentioned, it would be bought out before many future speculative projects start, like drilling Karita. But all that potential would be kept in mind for buyout value. A conservative $1.00 per share buyout of Merrex seems realistic.
Does my math look correct? I can't fathom why someone has a sell order at 8 Cents today given all this excitement and info? Are they not reading this message board :)
Thanks WilWal for all your good posts. I'll owe you some beers if this pans out. I don't usually invest in penny stocks, but based on all the info, I'm sleeping very well holding Merrex Gold. Do you recommend buying some IamGold shares as well? More gain would obviously be made holding Merrex Gold. I'm looking at adding more Merrex shares if it drops at all.