The bought deal has to be the reason why GSS is lagging the other gold stocks/funds. NG is reaching for the 52-week high, same with GDXJ. But GSS is still approx. 20% off that previous spike. Gold is showing more strength and momo than it has in two years.
My thoughts are that we would be irresponsible to consider a dollar a share for our GSS considering the value it represents and the history of its trading over the last decade. Three dollars should be the level at which we should feel we have to consider bailing out and letting somebody else bring it home. But the decision should hinge upon the environment at the time of the offer. The price of the commodity, eps both current and pro forma, how the other gold stocks are trading versus earnings, etc.
The shares I currently own were all bought below .50, so I do not have any shares under water and would make over 100% at a buck. This does not impress me particularly, as I do not want to sell even a small portion at a dollar unless it was strictly for trading purposes and I anticipated reacquiring those shares.