Don't think the $800 million figure to build the mine is correct. I believe it is around $500 million. The payback period with gold at this price would have been 2 and 1/2 years for a mine that would have lasted 15 years. This is a stink.
Managment does not deserve any kudos here. Hiring executives over the last year, paying them high salaries when their cash is depleting. They were at 40 cents a share because of management mistakes. They missed deadlines over and over again over the past 3+ years. They got bailed out here.
Though, this is a stink bid and their water rights alone are something that Barrick or Kinross could use in the area I'm still hoping for one of the bigger guys to come in with a bid. Probably won't happen though as they are all facing their own difficulties today.