mailman, PVG stock price is $13 to $14 while enterprise value per ounce of gold is maybe $18.


At $18 would mean BGM is overvalued at $1.22 if Snowden reports less than 8M oz gold. Depends on assumptions for fully diluted.


PVG is remote. But PVG area is bigger than PG potential numbers. Seabridge KSM next door to PVG has maybe 68M oz. Size helps.  For 100M oz total one can build much infrastructure. When gold gets into 2K range, PVG and SEA could be hot. Very hot. Also, PVG has first class management on the job. Executing very well. That is big premium factor.


Best hope for BGM longs is Snowden confirms 10M oz. Then takeover premium of say 40% or say $22 per oz for 220M. Assume 140M fully diluted means $1.57. Ok, maybe premium could be 80%. Not what longs want to here but the numbers are the numbers. Yes?