Nobody is going to buy out a company with half a goldmine other...

Nobody is going to buy out a company with half a goldmine other than the other partner which is Goldfields.The POG is now dropping (down a lot overnight)so in fact the Goldfields offer was quite good .The main reason the management rejected to offer and didnt even put it to shareholders is they wanted to keep thier jobs.They did make one good decision and that was was the investment in DEG which was bought for what can only be described as an extremely generous price.Gruyere had a poor quarter only bailed out by the rapid rise in the POG.Trying to get DEG /Hemi permitted and built is going to be a drag on Northern star.The deg plant build cost has escalated dramatically to 2 billion from the original estimate of 800 milllion.
For GOR shareholders it would have been better to sell the company to Goldfields and distribute all the money from DEG /Goldfields to shareholders so they can invest somewhere else.GORS only other prospect is permitting/building a 50K ounce mine with short term reserves.I happen to own a smallish US producer which has a decent mine with cash flow ,they just bought a fully permitted fully built mine which will produce 50K ounces a year in a bankrupcy for 2 million US.So if you look around there are still some companies which are cheap .Tony Makuch who grew Kirkland lake into a great mid size mining company(including Fosterville) and then sold out is now running another miner which has way better prospects than GOR.