RE:RE:RE:looks like they are putting the company up for sell...... Well , in order to eliminate the frothiness in this take over scenario. considdr the following.
All gold mining take overs are predicated on the number of ounces in the ground. April 2019, reported reserves were 6.4 million ounces. Shares outstanding is 185 million. So effectively each share owns 0.0345 ounces. Of course the new updated reserve figures will drop that 6.4 million by 300,000 ounces of 2019 production . as well as by an unknown factor to allow for the fact that published reserves here have NEVER been substantiated by mill heads. However lets be widely optimistic and say that a suitor might be willing to pay an exhorbiotant premium for future exploration potential, and use the 0.0345 figure.
I dont think Iv ever seen a takeover at more than $200 per ounce , and frquently its 100 or so.
Regardless , being optimistic again, using the $200 value , we get a potentiial take over value of $6.92 per share. Kinda deflates the optimism here, and certtainly there would be no appetite for a sale athi price today. But if the SP takes another 30% haircut when Q4 numbers and the new reserve numbers are published, $7 becomes semi attractive.