I thought I would do a quick calc an what GDOs assets are worth...

I thought I would do a quick calc an what GDOs assets are worth based on peer averages of EV per resource and reserve for the different projects. all the averages are the mean of GDOs peers as per 2011 Ambrian gold report. I point this out as I think the results will surprise and puts the Chinese purchase in perspective of what a bargain it will actually be for them
Modder east reserved 1.5 million x 421 ( mean EV per oz) = 631.5 mill or 78 cents per share
Modder east resource 4.3 million x 146 (pre production mean per oz) 627 mill or 77 cents per share
Modder East reserve upgrade from drill results not included. Estimate of 47k oz per 100 square meters as per investec report - add 100k oz value 42 million or 5 cents per share
Vburg 2.45 x 127 ( pre BFS oz resource mean) = 311 mill or 39 cents per share
Melamine 14 million x 25 EV per oz as it is a medium depth resource so discount mean resource EV by 80 percent . 350 million 44 cents per share
No value for modder north and other assets
Result if GDO assets were valued as per mean value of peers is 2.36 per share.

As we all know the Chinese Inv companies are very close to the Chinese govt. We know a big problem for the chinese govt is the need to diversify away from USDs quickly. I wonder what the Chinese projections of gold are given they have an idea what their demands for it will be. Be under no illusions, the Chinese have bought there slice for a bargain, and all of us holders have done likewise.