At what levels are you getting that $50 figure? Is that proven, indicated or inferred? I read $50 for indicated and $25 for inferred in ground. But I then went on to read that this was the going rate when gold was sub $1000 - not sure on the margins at that time..
It is obviously a more complex job valuing a company... I guess in the end someone has to want to buy it. There are a number of examples of where the figures dont stack up anywhere near these e.v metrics on low grade resources.
Definately not even seeing those values over at CDV at the mo. It has $33 per ounce in ground for both indicated and inferred right at this point.. 7 mill ounce resource, strong register, good chance of being taken out they tell me, awesome margins, in Ghana (not as good as Australia), open pit, low strip... basically wants a buyer.
Not trying to discredit the theory, just trying to flesh it out... Point being surely it has to be a range of favourable factors for someone to want to buy it, and then maybe the metric kicks in??
