Thanks for that, my concern was that the speculator had seen...

Thanks for that, my concern was that the speculator had seen something dark on the horizon, a year to production? My time frames are longer than that.

HGO has everything I like for in a stock with a speculative nature 1) limited downside through cash backing and 2) a solid portfolio of projects in the pipeline, the potential ESG payment is a bonus.

IMHO people tend to overlook the downside when selecting stocks, 'what's the risk?' gets ignored for 'what's the upside?'. If the world economy is truly a coin toss I would rather be in stocks that have limited downside if tails and blue sky if heads.