sarge, you can't really just look at share price- you have to...

sarge, you can't really just look at share price- you have to look at market cap- your details show this. In 2.5 years:

"10th May 2010:
Share price 55c
216m shares for a Market Cap $119m"

"Today 6th Dec 2012 approx 2.5 years later.
Closing Share Price 54.5c
400m shares for a Market Cap of $218m"
_______________

So, in those 2.5 years, the market cap has almost doubled. This has been due to new shares. If there was a suitor looking, for example, they won't care about share price, they will care about market cap. Unfortunately, shareholders pay the price of dilution, but the fact that the market cap has nearly doubled, is one of the only things we can look at.

I have been reading the GRY ANN's over the past 6 months this morning, and boy, has this company come long way- from $2m oz in July to 4.5m oz's now. A resource update is due before year end, as is the DFS. If the DFS shows a good case- a good % IRR, then FRY is in business. It's also encouraging that GRY is buying long lead items- a dead cert this company will be mining (in 2014, but still!)

colinchi, you said:

"When was the last time a gold company with 4.5 million JORC was taken over"

I am curious as to this comment. What do you mean?