i don't think debt is added to market cap, Alex. All the bigger companies have debt, and GRY is in a growth stage. I can understand if GRY wants to take over another company that has a million ounces or two. Easier than just digging all the livelong day to grow ounces (not PIR, though- it still seems unproven and too speculative). NMG is often spoken of as a takeover target. With NMG's current 2m resource, and if GRY gets a 3m resource, GRY becomes a 5m resource company.
I did a little readong on NMG (hadn't before), and the industry BUY recommendations are good (because they always are), but HC members seem frustrated by delays, etc. With BOA shorting NMG, it looks a bit unsafe.
All the goldies look terrible. If all the goldies across the world look terrible, then none becomes a target more than any other one, and none is more of a "value prospect" than the other, because they are mostly all at year lows.
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