RE:RE:RE:RE:RE:RE:RE:Prelude to a bidding wargoldminer,
440Ms x 1.2/s = $528M is about the price PRB got for Borden Lake which contains some 4.3Moz Au@ over 1gpt (they do have a higher grade core). In about 1 year the Lamaque South could have a potential of 4Moz or so. The grade of ICG would be a lot higher than 1gpt, more like 5+gpt and the fact that the deposit could be mined with the low-cost rock caving technology just like Goldex. In addition the milling, tailings and some shafts and workings (plus... a ramp is being built for underground access to Triangle and #4 Plug (already accessible via Mine #3). Plus, most major permits are available, these should be considered as +++, since permits would often pose as the biggest headache in mine development.
So, it would be reasonable to add a bit more premium to the sale price of $528M, say $100M, or more generously $200M if there is a bidding war. Just round it up to $700M/440 = $1.60/s.
How does that sound? Not quite a 3-bagger but I would sell 1/3 to get back the original investment and let the other 2/3 ride until the fat lady sings.
GH