As a current GSR holder,on the face of it, I tend to agree with you,JamesExpat2. GSR can only bring the following;
A mere 491,266,750 million dollars at current prices. Phillips Find is a measly 54567ozs = 177,342,750 million dollars;
Greenstone's Burbanks resource is 6 million tonnes at 2.4gpt gold for 465,567 ounces, while its Phillips Find resource is 733,000t at 2.3gpt gold for 54,567oz.
A 15,000m drill campaign will focus below the historical mining area worked to an average depth of 140m, while Greenstone is also now moving towards metallurgical testwork and scoping or prefeasibility assessment in the current half-year.
The Chris Hansen-led Greenstone had A$4 million cash at the end of March.
Shares in Greenstone were trading at 1.7c this week, capitalising the company $20 million.
These apparently are 'conservative' estimates. But who knows? they could be inflated. An HRZ shareholder has to ask, at the proposed conversion rate,is this an OK deal for HRZ?
db
HRZ Price at posting:
3.8¢ Sentiment: Buy Disclosure: Not Held
