Badger....you said...."Resources in an inferred and indicated stage are usually valued at $10 to $30 an ounce."

This has been posted before....I do not take credit for the work....just reposting to offer a different opinion.....

Gold Price @

Company Year Take Over Price (M $) TEO (gold OZ) $ per OZ Time of Takeout

Fronteer 2011 Newmont $2300 4.2 Million $547 $1410

Ventana 2011 AUX Group $1430 3.5 Million $408 $1340

Andean 2010 Goldcorp $3600 2.54 Million $1417 $1250

Aurelian 2008 Kinross $1200 13.7 Million $87 $950