Dear me,
we dont believe broker reports do we ?
based on reserves LHG has value of around $3.50 as a take-over.
based on production in 2 years when 1.2 mil oz produced pe will be around 20, so the good news is factored in, unless gold goes to $1,000+.
The best you could say is that it is at fair value with BGF offering upside if it pans out well with the Whale.
