Hi Zenmammom, apparently there are two geologists now working on upgrading the resource into reserves. I would expect they will announce the whole lot in one go. There can be no low ball takeover. Frank and major shareholders are in constant communication. Frank and Laurence alone hold 57% of the company. Frank knows he can take his time with this. I have told Frank I wouldn't sell unless he does. I would think that the best a hostile bidder could acquire would be in the region of 10-15% at anywhere near today's prices. Even then the bidder would probably be paying $2 a share or more by the end of the exercise. The bidder would need to talk to individual shareholders and coax them into selling. I have no idea what the expert used as valuations. He was probably told that the estimated cash cost per ounce was $350. He would have examined all the so far announced results and presumably take in into account that the extra one million ounces is in the pipeline. What he used as the Australian dollar value of gold I also have no idea. To be prudent he would need to use a conservative valuation and not just the current price. Frank's a real professional and would not breach the requirement of continuous disclosure. I was just talking to a friend who may well be putting a substantial amount of cash in CRK but, as I said to him, I am not in a position to advise you and won't. You do your sums. It may take time but I believe CRK will probably prove to be an amazing investment. Of course I could be wrong!
CRK Price at posting:
73.2¢ Sentiment: Hold Disclosure: Held
