There a lot of decent enough producers out there today going for a lot less than $105 an oz.
A good example is Claude Resources at roughly $22 per oz. But Claude has 50k+ annual production and two advanced stage development projects. Madsen has big PG resource potential -- classic red lake nuggetty deposit.
So, I'd argue a top price of $50, all in, for BGM. Now, where is that Snowden report?