bgf equities says byr is a hold for results , page-33

Yep. Right now Pual's call is on the money or perhaps better said - in the money.

However, if and when, as we all expect, we get an indication of 100M tons at xxx g/t Au equiv we will be an instant takeover target and at that point Pual might be left behind on the wrong side. (I wish he spelt his name correctly).

Given 100M tons at a grade that PRU will like, then IMO $200M seems a fair call to be a floor for a takeover, and we should get to that value in a few days once the brokers disseminate the facts.

I maintain my faith in the facts, despite that I contradict myself amongst this price action. IMO share price weakness is not indicative of the results. I think RG would have bought after the gold assays were returned from the Ghana lab. He probably should have released those results straight up with commentary about a polymetallic kicker to come. There is nothing the market hates more than uncertainty.