houston, we're below cash backing

Aside from a FREE stake in their 4.9moz resource (1.05moz reserve), one can now also purchase GRY at a discount to cash backing.

To my knowledge, GRY also still own a 13% stake in TAW + 10% stake in RNS, so on current valuations we can conservatively add another another $2mil ($0.9m + $1.1m) to the ledger.

In total that's $56mil in cash & financial assets = $0.14 per share, and all without debt. This is unlike many other goldies who continue to get get clobbered whilst the current POG begins cleaning out the deadwood and throws it on the bonfire. The valley of death is nigh for most of them now IMHO.

Due to GRY's enviable cash position, what happens to POG in the short term is now largely irrelevant for them IMO. Therefore I'll continue to buy on the dips.
Long term I maintain my bullish stance on Gold, as there is no other hedge (some hard and finite commodities excluded) against eventual inflation.

GRY, see you on the other side of the valley, along with MML, NST, BDR, IDC, EVR, PIR, PVM, AQG, RRL and a few others (IMHO).

Note: my opinion only and in no way am i offering advice of any kind. Please DYOR.