Musgrave is a good analogy. Based on the numbers GBR should have substantial upside. Much of Musgraves ounces were inferred as well and the inferred tends to be mostly ignored in valuations.
Musgrave indicated resources were just 435,000 ounces grading 2.6g. Gold price at the time was around $2,800. Musgrave were bought out for around $200m as you say.
GBR indicated resource is 340,000 ounces grading 3.4g which should increase considerably as inferred gets converted to indicated following recent infill drilling. Gold price almost 40% higher now at $3,850. GBR market cap at $0.06 is just $36m.
Great Boulder resource
Musgrave is a good analogy. Based on the numbers GBR should have...
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