I am a long term holder in GOR since before Gruyere and have watched the story unfold and develop.
BRB had ground next to GOR and sold out to GOR to focus on Lake Roe which to me is looking like a bit of a carbon copy of the Gruyere story but higher grade and potentially larger and without the share dilution. Its a great strategy to pay for the drilling in shares as they go and what a great incentive for the drillers too.
I hold shares in both companies and watching with interest to see which outperforms the other. After playing a bit of leap frog this year both shares were equally priced today, so interesting to see where they go from here.
BRB can probably move faster as they only have 15% of the share base and market cap of GOR, however GOR are cashed up with a more aggressive exploration program and moving toward production, so will be interesting to see.
Management know each other and given GOR's healthy cash position and exploration expertise I am surprised GOR has not taken a more active interest in working with BRB.
Hopefully big news coming from BRB next week, would not be surprised to see these over a dollar by the end of June. And yes what a perfect time to release good news with the gold price heading in the right direction and approaching its all time high in AUD terms.
BRB Price at posting:
74.0¢ Sentiment: None Disclosure: Held
