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Great Bear Resources Ltd. GTBAF

Great Bear Resources Ltd. is a Vancouver-based gold exploration company focused on advancing its 100% owned Dixie project in Northwestern Ontario, Canada. A significant exploration drill program is currently underway to define the mineralization within a large-scale, high-grade disseminated gold discovery made in 2019, the LP Fault. Additional exploration drilling is also in progress to expand and infill nearby high-grade gold zones, as well as to test new regional targets.


OTCQX:GTBAF - Post by User

Post by lumpy13on Jun 13, 2020 8:57pm
286 Views
Post# 31147557

Interesting dynamic: When will GBR be acquired?

Interesting dynamic: When will GBR be acquired?GBR keeps drilling and finding gold so Chris isn't in any hurry to define resources, as it gives acquirers the 'ammunition' to justify an acquisition.  The longer acquirers wait, the value of GBR should go up. And without resource definition, it's hard for potential acquirers to get board approval.  

Right now, GBR has a market cap of US$500m so a 100% premium offer, US$1b, would probably succeed.  But, when you listen to Chris, GBR has a unique (once in a generation) project, which, increasingly, has the likely potential to become a multi-billion project.  So, if you're Barrick, Newmont, etc, when do you move?  In many respects, GBR is cheap.  (But there is also of history of overpaying.  Barrick acquired Equinox for C$7.3b during the last up cycle, but eventually wrote it down C$4b.  As such, they should be risk adverse and wait for harder resource numbers, altho it will mean a higher price.)

in the meantime, it's a fun ride.
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