Ann: Annual Report to shareholders, page-26

"There are other mining companies that report in the same manner as Tribune"

Yes, RND To be fair, there are others such as PRU and (previously) RED but their gold inventory as a percentage of market cap doesn’t compare with TBR. So it’s less of a factor in determining company value.

That said, in my humble view, TBR can best be viewed as a more attractive alternative to holding physical gold, given:

* The current share price gives ownership of gold, per ounce, for less than the price of buying physical
* It pays a dividend
* The company is essentially self-sustainable based on current production
* Potential upside in new mining developments/discoveries

It appears a method for limiting downside, yet still capturing more upside than holding physical during what increasingly appears a massive gold bull market cycle over the next 5 or so years.