High River Gold Mines Ltd HRIVF

how cheap HRG is !!!

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Brazilian Billionaire EikeBatista’sAUX Canada Acquisition Inc. reached a verbal agreement to buygold explorer VentanaGold Corp. after raising a previous offerthat valued the company at C$1.5 billion ($1.52 billion).

AUX will acquire all of the remaining shares in Ventanathat it doesn’t already own for C$13.06 apiece in cash, Ventanasaid today in a statement.

Ventana owns La Bodega, adeposit 400 kilometers northeastof Bogota that contains estimated resources of 3.5 millionounces of gold, 19.2 million ounces of silver and 84.6 millionounces of copper, according to the company’s website. Theproject has the potential to produce 301,000 ounces of gold ayear for its first six years of production.

Source: https://www.bloomberg.com/news/2011-02-14/ventana-gold-agrees-to-accept-increased-offer-from-batista-s-aux-canada.html

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That is basically Bissa - in line with other recent deals that often value reserves of gold at $500+ an ounce.In this case we are told estimated gold ounces and not reserves.