takeover value

I note a few comments here that ROL will be taken over before they start producing.

While we don't have any confirmed ROL resource estimates, I'm curious as to what $US/oz exploration takeovers are historically done at. I realise there are a lot of variables in such takeovers.

As an aside, a guest from Blackrock on tonight's Lateline Business said the average cost today to get a midcap mine to production stage is $US 900/oz. This high figure explains why we are seeing few new mines and static world output.