That doesn't sound quite right ... from the mr.to release today, usd18m is being paid for half of 1.8m ounces gold equivalent .... that's usd20/oz?? ... yes there's a little more than the 18m going to Glamis over time, let's say usd24/oz based on that resource estimation ... still some distance from usd45/oz though eh .... of course recovery factor comes in there maybe ... i haven't kept up with Metallica recently, shouldn't comment maybe
Recoverable ounces at Estrella are worth more than usd50/oz imho .... not today certainly, sold at fire sale prices .... but held under a vehicle like this one, they form a call option on gold, to me they're worth more that way .... it sounds like a lot, you take 1.2m ozs times usd50, that's usd60m, near a triple on our fully diluted market cap du jour ..... but i wouldn't be eager to see a takeout at that level .... this is cheap mining, pretty much straight forward stuff, with major blue sky all over the Salamandra district ... well if it happens it happens, a person can take the proceeds and go find another, but i would do so only under protest
.. another sleepy week for aas/ngt i think, unless gold runs or something .... then, we start edging up with merger anticipation, starting 24 Feb ... [?] .... cheers
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