RE:RE:******NEW PLAYER****** The ANX / OREX merger valued goldboro at $15/oz. I imagine that Forest Hill and Tangier would be valued at lower priced per oz, say $8/oz for less well developed resource and without a PEA.
Goldboro was 457,400 Measured and Indicated ounces of gold and 372,900 Inferred ounces.
Forest Hill has about 326,700 ounces including 73,500oz of measured.
Tangier has 173,200 inferred ounces. So, a value of $4 million rather than $7 million.
The exploration assets are carried at $1.278 million on the balance sheet.
That said, it is entirely reasonable that they could be developed into $7.5 million assets at $15/oz.