You have to factor in the cost of getting those reserves out of the ground. And don't just use GSS's costs. If you really think they'll be acquired, you'd have to estimate what the acquirer's cost would be to get the gold out of the ground. You'd have to think that a major, particularly one that already has operations in Ghana, would believe they could do it much more cheaply than GSS.
Perhaps, but current management seems unable to convert it shareholder value. It's readily apparent with the swoon it has experienced, worse than the metals as a whole. I'm glad, very glad I reduced my position when it was still over a dollar... maybe I should have just sold it all. I think, however, that someone with some savvy could make this work and profitably so... just not the boys on the ground right now.
Reserses are not worth at 5B. Unless you know of a way to get it out of the ground and processed at zero cost.
The moon is worth much more,but unless you have a shrink ray and a home made rocket the meaning is still worthless