Newmont Becoming AZY'S Largest Shareholder, page-18

Not sure why this reply to CC below wouldn't post, but trying again here:

1. There is no such thing as 'Patient Money'. Not in the exploration end of the minex market anyway. Individual traders and brokers have a timeframe of days or weeks at best. Larger institutions are not interested in explorers, they only want certainty and revenue, so will only buy and hold profitable gold producers.

2. Re the contrasting market interest in Greatland gold: their gold discovery was generating a continuous stream of stunning grade-width intersections to feed the speculators and traders appetite. And also, Greatland are listed in London, which is a very different market: a market with much bigger traders and speculators, and some huge wodges of borderline irrational/criminal money looking for something to rort: ill-gotten fortunes Middle East, Russia, Asia, and then there are the Anglo-Saxon gold bugs out of Germany and Austria.

3. The Australian market is just too small, and what hot money there is goes from one place to the next. 2.5 years ago it was hot into gold. Now it is all (still) chasing lithium, nickel, rare earths. In my profession, as a gold focused exploration geologist, you cannot generate one iota of interest in a million ounces of gold at the moment, even less in the prospect of several million ounces 'maybe' five years and $10M down the track.

So the opportunity is there to pick up and sit on successful gold exploration companies like this one until the market changes. But it can stay disinterested longer than you can stay solvent, so you'd better not give up your day job!

That's what I reckon anyway.

And they're giving the stock away this morning!