This rise in the share price makes as much sense as the fall in the share price to around $1.80. The market sure values companies "correctly".
I think the share price is roughly where it should be in the absence of a takeover offer. Once the hedge ends and they have actually added another 100k ounces pa in production then add around another $1 to the share price. Perhaps a bit more if the POG goes higher.
loki
CGX Price at posting:
$2.91 Sentiment: LT Buy Disclosure: Held