Looking at the link Sculpin provided in one of his previous posts, there's some interesting comparisons. On page 10, (which I could not copy) there is examples of 16 previous junior gold takeouts & the price paid per OZ in the ground.

I mentioned in a post last night, it seems mathematically that Aurelian only got approx $85.00 per OZ (IMO) . I'd say that's max, cause I'm only counting the gold, and not any silver, or anything else. It was approx 1.2 Billion takeout on approx 13.7 Million OZ.

On Page 10, Bottom Line they say the average buyout price over that 10 year period, with those 16 examples was $132/OZ & gold at an average of $500/OZ

Nobody, really knows what the average buyout price per OZ is nowadays, cause it's been all over the map? Also, I'm not saying because gold was $500 then, and now we're approx $1500 that we should multiply the $132 by 3 ($396). But, I'd sure think it would be safe to say, if we took the math right down to the share price potential value, that using $200 per OZ @ $1440 gold, seems quite reasonable?

Anyway, here's a clip from Sculin's Link:

Comparable Transactions

In Exhibit 4 we show transactions over the past 10 years involving juniors with undeveloped gold resources. The average acquisition cost since the Dec. 2005 and the +US$500/oz gold price environment has been $132/oz with a range of US$91 to $227/oz. We believe in the current gold market that Aurelian should be able to command the mid to high end of the $/oz valuation of + $150/oz to $170 per recoverable ounce.