RRL have basically paid $1,125 per Reserve oz for their 30% share in Tropicana ($900M divided by their share of Tropicana Reserves which is 0.8Moz). That's extremely expensive, and I honestly can't figure out the logic.
Discovery costs for explorers can range from $5-$25 per/oz, so we're talking a multiple factor premium for them to basically buy a share of Tropicana production, but also the costs of production and overheads that go with it.
I don't if other alternatives were considered, but for context the entire MC of Bellevue Gold is less than what Regis paid for a third of Tropicana.
Ann: Quarterly Activities Report, page-85
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$1.87 |
Change
0.040(2.19%) |
Mkt cap ! $1.412B | |||
| Open | High | Low | Value | Volume |
| $1.84 | $1.88 | $1.84 | $8.731M | 4.683M |
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| No. | Vol. | Price($) |
|---|---|---|
| 4 | 25114 | $1.87 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.88 | 82177 | 13 |
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