Canaccord has published a valuation that would set GMM's target market cap at around $361m for 50% of Mt Cattlin alone.
James Bay is given an additional (but almost negligent) $40m undeveloped asset valuation in the same document.
The target market cap would therefore sit at around $401m (prior to James Bay being further developed).
We have 311m shares vs 1.2b for GXY.
(page 3 for Mt Cattlin. This info is from GXY's valuation document but as its applicable to both companies as they both own the same amount of Mt Cattlin and James Bay).
GMM Price at posting:
53.0¢ Sentiment: Buy Disclosure: Held
