Integra Gold is an interesting case. Check out the latest (April 2016) Corp Presentation

http://www.integragold.com/s/presentation.asp

Some salient features:

- Cap: $235M, OS: 440 Ms after forced wt exercise (end of May 2016), enough to cover a 10% strategic investment in ER (AGM and Special Mtg 29 April 2016).

- Well financed exploration company, got nearly $40M cash.

- Resource estimate: Current @ over 2Moz for Lamaque South, and another (historic results) of another 2Moz for Lamaque North

- PDAC Gold Rush Challege (1M in prizes) for best solution for unlocking the resource in Lamaque Deep (North Lamaque)

- Got an opeartional mill, along with infrastructures such as shafts, workings and tailings (with permits).

- Got a 15% investment ffrom ELG which is one of the potential suitors. There are many conspiracy theories floating around.

There is some similarity between this company and the old PRB, before the TO by G. If they can show that the South Lamaque area has a potential deposit of ~4Moz (they now have 2.2Moz. Check out the latest NR for #4 Plug...which could host 1Moz) then the Cap could get up to PRB level when it was sold to G, e.g. around $500M range, or x2 from the current SP level (i.e. take-out price = over $100/oz, just like Borden Lake of the old PRB).

Also, check ou ER since after the AGM, ICG will have 10% of ER and there is some hint that ICG would have more than just 10% (or a "max" of 15%, perhaps max for now?). ER's Eau Claire is an attractive property (1.6Moz). There is another high grade deposit (Eastmain Mine) which has more than 0.25Moz. Almost 2Moz Au for a Cap of $65M (= $37.5/oz, cheap)

http://www.eastmain.com/wp-content/uploads/2016/03/Eastmain-Corporate-Presentation-April_2016.pdf