"But now, this undervalued offer leaves the door for other bids wide open. Pretty hard to sit back and say I couldn't afford to bid more. Also pretty hard to explain to ABX/Newmont/Goldcorp shareholders at the next AGM we didn't think it was a good value to pick up 20 million oz+ at $10.00 a share."

don't misunderstand

I am in NO way saying that $10 would be an acceptable offer

try $25 to start

but it leaves the door open to majors getting a lot of flack for not at least trying to grab it at a higher price...and they can afford a LOT higher

safeharbour