My "right now" estimation of $500 million isn't an exaggeration, it's based on the 2 examples that happened today & a few months ago.
Say, Apollo Consolidated's resource was 29.1 Million tonnes at 1.2g/t Au for 1.105 Million ounces of gold, and only 775,000oz was in the indicated category. And that was sold for $180 million after a bidding war between Ramelius & Gold Road.
Minyari is 2.6Moz @ 2.4g/t gold eq. Which is X2.5 times bigger resource and more than double the grade than Apollo's resource! Not to mention 1Moz already in indicated category @ Minyari.
So, you could say Minyari as it is right now, still in it's early stages, could go for double the $180 million that Ramelius paid for Apollo. And that's not including the price for the other projects and ground in the Paterson
Recent Gold M&A in Australia - Big Premiums on Acquisitions, page-3
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