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.