fourfold return on gold predicted, page-8

PFS gives an NPV of $120 mil for gold at $1300, and pit optimisation and study seems based on a $1300/oz price.

I have no idea why this is so low.

If you thought gold at $1400/oz would mean GRY at 13c (just say), then it is hard to believe someone can't make a killing by going long GRY and short gold.

Buy $100 worth of GRY and sell $1000 worth of gold.

Gold goes down 10% to $1400 and you make $100 on your short and lose $50 on your GRY, net $50 profit.

Gold goes up 10% to $1700 and you lose $100 on your short. Question is how much would you make on the GRY. Gold was at $1700 in Oct 2012 and falling and GRY was over 75c, so you might expect to make $200

I am in at 35c so would happily take 40c in a TO