Any one calculated what they thought a fair valuation might be. $200 an ounce is a lot, unless you are next door, have good infrastructure, have near surface open pitable, bulk tonnage heap leachable gold sprinkled with some good high grade. Lets say they only have 200,000 ounces(when really, with more drilling, they could prove up a million...could). 200,000 x $200 = $40 mil. / 35 mil. shares = $1 (taking out what they still owe for 100% aquisition of the properties.) I don't think they would have hired this high profile company, Dahlman Rose, if offers weren't expected, or on the table. It is known that the neighbours have been on the property and have been following the drill program intently. If they let URS drill too much more, it will increase the buy out cost. Next week could be interesting.
Any thoughts? Have a great weekend, Sparky.