PNR used the same mill builder as BGL. They had some minor...

PNR used the same mill builder as BGL. They had some minor problems as they are moving to nameplate capacity. I expect this is one reason behind the undervalue of the SP. Another, is rising interest rates as investors seek out higher returns in other markets. The US Federal reserve may not pivot to cut interest rates for some time and so then the gold price will then be restrained. If Hezbella launch a full out assault on Northern Israel, then one could expect gold to go parabolic, especially if the U.S. and Iran become involved. If BGL can maintained a steadily increasing through put as they move towards nameplate capacity, then this is our best bet of a improving SP. We need to be patient.