You know for a company with $44 million sitting in the bank until they find some suitable acquisition, they could do a lot worse than buying physical gold or even silver for that matter.
Conversely they could use the cash for their day to day operations and stack the gold from the current production in the back of the gold room!
Personally I believe after the recent European decision and Ben Bernanke’s QE- to infinity we should see some serious appreciation of the gold price in the coming months. Money in the bank earns no interest these days and IMHO a Lehman's style bank failure here in Australia is not out of the question. Why sell it now when there is a better than even chance of it being over $2,000.00 before the end of the year!
If you have not already seen this Pierre Lassonde opening speech at the Denver Gold Forum 2012 I am sure it will be worth 20 minutes of your time.
