RE:RE:RE:Taking another lookSo since Tuesday AM, GFI stock has risen 12.6% ($2), half of which can attributed to the rise in gold bullion since then, using GDX as a comparator. GFI has 891 mm shares, so the remaining 6% represents about $106 million.
Meanwhile Osisko is now flat since then, also reflecting the rise in bullion, but has dealed 50% of the project away for cash.
OSK should be up 6% just to keep pace with GDX. So in effect, one can deduce that management left at least US $100 million on the table.
$100 mm below fair value, according to the market.
Windfall is a unique orebody, that in a bull market for its product should command a premium. Not a discount.