RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Resource Investoraltacrude,
I have posted on this topic during the last couple of days, but I am not keeping track of my posts (and equally bad in searching my own stuff), so if you are a good searcher you could probably find it.
This is a tricky question and you would need to find out what people used in their math (price/ounces), but what price and the amount of gold (usually in-situ) in the ground.
The link below show a bunch of analyst reports (provided by stockmaster). Figure 1 in Beacon report show excellent info on the in-situ values plus the All-in acquisition costs, the blue line, (ave. US$758/oz for ELD/ICG which at first read threw me off, but a more careful look at this Figure 1 revealed that it also has the in-situ value just for the deposit alone, the red line).
https://www.docdroid.net/yw4WRxD/integra-gold-corporation-analyst-reports.pdf.html#page=15
Concentrate on the red line for now.
- ICG: The insitu value is around US$100/oz (but as indicated before in my previous post, they probably use Cad $1.21/s or $5.00/ELD share (acquisition cost of Cad$590M for 3.3 Moz, including inferred. Some other analyst was using $590M for ~2Moz, m+i, resulting in over Cad$200/oz). The point here is you would need to check out what they were using in the in-situ value.
- PRB: I had a comparision between PRB and ICG and the price offer (using 1.21/s and over 4Moz for ICG) and 526M for ~4.2Moz would come up with the same in-situ vale. Note Figure 1 has PRB at over $200 US, since Beacon probably used something like 2Moz for PRB.
- Trelawney: The last item on Fig 1 is also relevant, IMG/Trelawney, showing a value just below US100/oz (Cdn$608M for ~6Moz low grade deposit).
That would get you going for your DD. I would standby my take that this is a low-ball from ELD, but you may have your own opinion.
Cheers,
GH