Galway Resources Ltd V.GWY

Is this GWY positive?

[oakarbor]

I can see both sides. Is batista lsong interest in Gold mining? Other side, I dont think it matters who owns AUX, they still need GWY strips and lower elevation for building infrastructure...........I rate this as neutral. batista does not need that money to buy our little company.

[CWGriswold]

It would seem to me that this transaction gives us a yardstick by which to value Galway based on current gold prices.  If Qatar paid $2 billion for 49% of 7.2 million undeveloped reserve oz in the ground (3.53 million oz) next door to us and if Galway has 1.5 million oz (which I think is on the conservative side) then we should be worth 1.5 / 3.53 X 2 billion = approx 850 million / 125

[Red5Luke]

I think it works out to $566 an ounce (2 billion / 3.5 mill ounces) which is definitely a record premium in this market.  Hats off to Eike and his negotiation skills [which won't benefit us :( ]  GWY's 1.5 million x $566 = $5.85 a share.  Now that Batista has already profited on VEN now he can concentrate on getting his deposit into double digits by purchasing

[NaturalCurrency]

I agree. As I said earlier, this is another comp which is very very very hard to ignore.   Though I did hear Batista say in an interview that they are up to 10M Oz. If that is true, this deal represents $400/oz.   1.5M Oz for Cali is too conservative. Let's say 2.0M Oz (although it could be 2.5M as well given all the drills) and $250/oz (there is value in bringing assets closer

[CWGriswold]

Just to add to what I previously posted; I would have to assume that Qatar has done due diligence on this project before plunking down the cash.  I don't think they would make this investment if the Galway deal was not already in the bag - this is because the strips of land that Galway owns bisecting AUX resource in 3 places kills AUX's mining plan.  Their DD would also

[melone]

$5.13, just keep that in mine and I will remind you any wy... LOL  

[CWGriswold]

"Though I did hear Batista say in an interview that they are up to 10M Oz." - interesting - maybe he's already including our oz's in the figure LOL!!!

[NaturalCurrency]

melone - is your rumoured $5.13 for California only or California + Vetas or entire GWY?

[melone]

The number $5.13 CAD is the only I was told, no other details is in, but I assume will be only for CAL.   Also Batista said 13M not 10 during the interview.