GRL Chart, page-235

Amigo, I understand the importance of GRL's JORC-compliant resource - it's the insurance that protects our investment. And IMO that resource will grow once the team incorporates the 2021 drilling. However, GRL hasn't made a decent discovery yet. It inherited its resource from the drilling carried out by other companies and the spin-off from ARL. At this stage in the cycle, I feel it is important to consider how investors treat exploration juniors, such as GRL. The general chart below is very useful in understanding when to invest and when to sell shares in GRL, and explorers in general, IMO. I've posted it before but it is worth understanding how it applies to GRL. I think GRL is at the "exploration" stage where "interpreting news releases" is occurring. Our share price is flat, but that is typically the time to accumulate shares. Once a discovery hole is drilled by GRL (ie high grade large intercept), the shareprice should go for a good run. But after a year or so of further drilling, eventually investors may feel that they are bored with just reading about infill drilling. That's human nature, so often "speculators leave" and the orphan period follows. Many investors, including myself, get burned by holding too long. If I could use my crystal ball, I would see GRL going into the discovery stage in 2022 with "speculation" follwoing the news releaes (and announcment of a discovery hole). The "orphan period" would follow in the years that follow, but eventually, when GRL moves towards mining, it will leave the orphan period and its share price will rise again, as shown in the chart. That's my speculation, but each to their own.