An historical observation and comparison.The last time GRY was...

An historical observation and comparison.

The last time GRY was at ~55c was at the close of trade on 10th May 2010:

Share price 55c
216m shares for a Market Cap $119m
Cash $23m
Enterprise Value (EV) $96m
Inferred Resource of 14Mt @ 2.4g/t for 1.1m oz gold
EV of $87 per oz of gold


Close of trade 11th May 2010
Share Price 60c

Close of trade 12th May 2010
Share price 67.5c

On 13th May 2010
GRY announce a Major New Gold Target (Samavogo) includes 8m @ 4.43gt gold.
Close of trade Share Price 74c


Today 6th Dec 2012 approx 2.5 years later.
Closing Share Price 54.5c
400m shares for a Market Cap of $218m
Cash and listed investments (TAW, RNS and PIR)Approx $95m
Enterprise Value (EV) $123m
Measured/Indicated/Inferred Resource 56.4Mt @ 2 g/t for 3.6m oz gold
And a Measured/Indicated/Inferred Resource (Heap Leach) 49.2Mt @ 0.6 g/t for 0.93m oz gold
Total 4.5 m oz gold
EV of $27 per oz of gold

Another Resource upgrade to be released this month.
DFS to be released this month.
I will let you do the maths and draw your own conclusions as to what GRY fair value currently is.
Market currently says 54.5c. Fundamentals indicate much higher.
IMO, Excellent and exciting entry level if you are just getting in now. Hold or add if you are a current holder.

PS. Don't get caught with no stock when GRY shoots higher and quickly as it has in the past.