They really need to prove where the mother load is before being a decent acquisition.
There is gold there, but has it been drifting from a more concentrated area?
Hopefully when they start closing in the gaps between where they just drilled and found thin modest gold, and the areas to the north where the gold has been thicker they find the real source.
65M MC only gives holders about 15c/share. A lot of us bought above that and the SP has pumped into the 20s a few times last year. I don't see anybody offering over 20c a share with current findings.
Would I take a buy out offer that puts me back in profit? Hell yeah! Now is the best time to have spare cash to buy bargins. With current markets and recent results I don't see the market giving me a profit on GBR for quite a while. In the mean time if GBR got bought out I could take my $$ and go looking for something that will bounce back faster or get back into covered calls again.
GBR Price at posting:
6.9¢ Sentiment: Buy Disclosure: Held
