Newmont buys Fronteer Gold/ 2011Newmont believes that, with further exploration on the Long Canyon site, the project has more potential than has so far been identified. Fronteer said it has currently identified 4.2 million ounces of "measured and indicated" gold resources at its three main projects in Nevada.
Production at the key Long Canyon project is still about six years away.
https://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/newmont-to-acquire-fronteer-gold-in-23-billion-deal/article564805/
Bought near the top, top was still another 6 months or so from the peak of $1920 in 2011.
They bought what Fronteer said was 4.2 million ozs in M&I for $ 2.3 Billion.
We here have a proven M&I of 3.09 Million ozs.
So all in all gold is $1960 or so , we should get a takeout right today of say $1.7 Billion?
Or $8 per share!