low hanging fruit - major opportunity

GRY at 21c would appear to provide a strong buying opportunity. Market Cap of $84m, approx $70m in cash. Plus a few million in listed investments. They are in one of the hottest and lowest cost gold regions of the world and have the potential on their tenements to discover new deposits over time with new exploration. That all makes GRY look pretty good just as an explorer.

But they are not an explorer: they have a 5,000,000 ounce JORC standard gold resource, including 1m oz in the reserve category!!!

It does not, one would think, get much easier for a LT investor! Other companies must be looking at GRY as a takeover target, as this is too good to ignore. PIR would be a prime ASX candidate but will need to act fast to beat the North American companies to the prize. A combined GRY/PIR would house a resource of close to 10m oz and would attract some big North American fund attention.

DYOR