RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:My two centsLove your question about Great Bear. They snagged $1.42 billion for a project with ZERO, I repeat, ZERO delineated resources. High grade, sure, no doubt. Large project, sure as the current estimates are it would be around 8 million ounces if they were to complete a PEA.
Let's just round it up to an elephant sized project and say GB has a 10 million ounce project on their hands. That is still only half the size of Casino. OK, but they likely have blue sky exploration potential. So, what? Casino does also!!
I can say confidently, especially since WRN has a PEA, that Casino has a more lucrative project than does GB. Now, in time, that statement could prove to be wrong, but we will all be dead and long gone by that time I am sure. So, if an inferior project is worth $1.42 billion, how much is WRN's Casino worth? Mind you, if GB has set the floor, that equates to about $10 a share in a buyout for Casino. Back to my long standing argument that the BoD will not accept a buyout less than double digits. I belive it, the BoD believes it and I fully suspect that RIO knows this and will accept it also.