Agree, gold in the ground could be more like AU$300-$400 which is at the very high end, but a shallow deposit, potential high grades and location could warrant it. Plus gold is in a multi-year bull market, so premiums will need to be paid or applied to quality deposits.
Perhaps much lower if in the middle of nowhere explorer, deep deposit, lower grades, plenty of drilling to still do and a bear market.
This is not a bad graph of the takeover prices of inground gold from ***** based on resource size. It's a bit old being average 1990-2013 but gives some indication.
Has anyone seen anything more recent than 2015?
DYOR
