That makes a lot of sense to me. I recall that GMR sold a mine exploration site in Burkina Faso a few years back for $40 US per ounce. The recent take over offer of CDV is about that and shareholders are not happy - way too low.
GMR also is due a MRE upgrade so the 1.5M oz could become 2.0 M or above. I really do not have a feel for the increase.
The new Chairman has come on for a reason. He has a track record in getting sites to production and later sale. With the CR this month he is obviously well connected too.
V
GMR Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
