RMS Chart, page-1198

FWIW, (Canadian miner) Newmarket/Kirkland Lake went from $1.68/sh US (August 2016) to roughly 15X that in early 2019. Spot gold with high 1100s US in early 2019. From 2016 to early 2019, spot gold had bounced around from low 1100s to high 1300s.

Similar story with another Canadian miner, Wesdome, though my entry there, at $1.98 Canadian, was later. (The timing of the Wesdome entry was luck.)

Point is, a solid conservatively-run gold miner, with significant documented (JORC/43-101 or close to it) internally-funded growth coming, and management with a track record of meeting/beating guidance and share price appreciation, in a top jurisdiction...in practice trumps (hate him BTW) the everloving firetruck out of bounces around in the spot gold price.

Ramelius is throwing off operating cash like a fire hydrant, at even $2000/oz Aussie gold. While at the same time 1) growing production significantly, and 2) growing mine/reserve life and stockpiled ore significantly, and 3) spending strongly on exploration, and 4) being quite conservative and unhurried about where they'll spend their $217 million net cash on acquisitions, and treating talent well (good retention stats).

Hang loose. There's always risk in mining, but chances are Ramelius just absolutely crushes it over the next few years.