roll up roll up, page-8

morgan, 30c seems too low. Someone put an interesting article on the GMR thread, saying gold ounces in Burkino Faso are priced at about $USD20/oz if assets are up for sale:

http://www.mergermarket.com/tools/newsletter.asp?guid=c467d90fbc184b279aecb786b6439ad7

So, that prices GRY at about what they have now: 4.9m oz @ $20 per ounce = $98m. Add $83m in cash and assets and you get $181m. The current market cap today is $164m, so perhaps "undervalued".

The above article could be useful if GRY is serious about putting itself on the market.