You must be joking - it's worth well north of that.
The company has 3.4 million ounces in reserves making a margin of almost $3 thousand an ounce. That's $10 billion right there in reserves alone.
Add the $800 million in cash and another 2 million of the remaining 8 million ounces in resources to be converted to be converted to reserves and you've got a company that should be worth $15 billion plus or over $2 a share easily.
This stock is being manipulated for a low ball takeover - don't fall for it people. And don't fall for the rubbish about the hedges. They are a tiny fraction of reserves, most of which will be run down in the next 8 months. The upside for this stock is huge.
It is way undervalued at current prices - $2 should not be out of the question, especially with the mill upgrade expected to increase ounces and decrease costs.
The only downside is an underwhelming board and marketing team who has allowed the share price to flounder.
Something will give soon enough.
GLTA/IMHO
VAU Price at posting:
48.5¢ Sentiment: Buy Disclosure: Held
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