If for a mine that had almost depleted reserves can go for a total of $105 million (phased payment) what about a mine that has over 24 million ounces of gold waiting to be brought up at cash cost of $650 per ounce.
This coupled with weakening ZAR (South African Rand, in effect cost of production shall come down (wages and expenses in ZAR, income in US dollars)
Burnstone has bright future provided right management with enough cash to complete the last phase of the mine construction (slopes)
Remember, last financial statements released in June 2012 mentioned that in board's opinion the company is a 'Going Concern', does that not confirm that the mines has value beyond its debt?
I am confident $0.75 per share is the minimum GBG shareholders will get from a bidder that sees long term value in Gold and South African mine. Cash is King , proven again and again right.