http://finance.yahoo.com/news/AgnicoEagle-and-Grayd-enter-prnews-3219203354.html?x=0&.v=23

Agnico-Eagle and Grayd enter into a definitive agreement whereby Agnico-Eagle will acquire Grayd

Agnico-Eagle has agreed to offer to acquire all of the outstanding common shares of Grayd at $2.80 per share by way of a take-over bid. The transaction is valued at approximately $275 million on a fully-diluted basis. The offer price of $2.80 per Grayd share represents a premium of 65.7% to the volume weighted average price of Grayd shares on the TSX Venture Exchange for the 20-day period ended September 16, 2011 (the last trading day prior to announcement of the transaction).

Just for comparison:

This is latest status for GYD:

A recently completed Preliminary Economic Assessment (PEA) is based on the May 2010 resource which includes measured and indicated resources of 760,000 ounces gold and inferred resources of 506,000 ounces gold. Results of the PEA, reported on October 21, 2010, show a 9 year mine life producing on average 92,000 oz Au per year (from 100% oxide mineralization), an IRR of 51% and a pre-tax (5% discount) NPV of US$ 187 million, using a $950/oz gold price.

So very similar like PEM but I think that PEM will prove to be much better than GYD so we all know that but one more time to remind you that PEM is undervaluated stock and the best is just to hold until take over happen, we will be big awarded! Hecla currently have problems with Silver and maybe want to diversify in Gold, who knows but PEM is Big Buy for short time or long time hold.

GLTA