They have 1.5 million oz in inferred resources not measured or indicated. Cannot convert inferred resources to reserves. Hence they need to spend a lot of money infill drilling. BGL has a market cap of almost 350 million with no reserves.
Any merger EAR shareholders would get a 110/460 of the new company.
Better off going alone.
EAR Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held