yes gold is looking relatively strong, however we may need $2500+ USD gold prices before we start to see the valuations you are considering @coto. 80c would give us a similar MC to BGL now as a low cost high grade producer or DEG with 12.6 million oz prior to the most recent cap raise. In my opinion, you need to come up with realistic valuations based on a lower gold price ($1800-1900) then apply a 30-40% discount for jurisdictional risk. From this point you can start crossing fingers and toes for a higher gold price.
I would be happy with TO offer around 40-50c or 830 mill MC +.
Ann: Investor Presentation, page-126
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