I did some googling on how to value in ground ounces for takeovers, and there are a lot of variables. Some numbers that came up were:
USD $20 for inferred, USD $30 for measured and indicated, and USD $160 for proven and probable.
These numbers are historical looking though, and do not take into account the recent rises on gold.
Laneway has 252k indicated, and 128K inferred. Using the above, this gives a valuation of US 10M. Even if i double the rates it only gives us US20M. Which still seems too low.
My next step will be doing a peer review of recent goldies that have been taken over so I can get a more accurate value for in ground ounces. Does anyone know any I can use as a starting point?
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