The logical move is to creep 3%. I suspect they think DEG is overvalued - which it is my opinion. The risk in creeping is that it sets the minimum price that can be paid for 4 months if they want to them make a takeover offer.
On DEG, their capital cost estimate to build Hemi is a long way off in my opinion (even before all the inflationary costs), and I don't think their operating cost reflects recent inflation - particularly mining cost. Easy for people to factor in the ups (higher gold price) in their models, without the downs.
GOR has time to make its move - when the next quarterlies and capital cost update for projects come out this month, analysts and others will have more information to start updating their models on these inputs. Meanwhile GOR builds its cash position - hopefully a record cash quarter with these high prices and no hedges!
GOR Price at posting:
$1.77 Sentiment: Hold Disclosure: Held
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