To answer that last part, at least from the way that I...

To answer that last part, at least from the way that I interpreted it, is as follows. Promising companies are at the very least close to production, new/newish producers or those that have had their skin in the game for a while. An example of this would be CAI, CMM, and NCM, respectively. With current cash flow or cash flow arriving in the near term, they can be somewhat seen as hedged bets or safer stocks to invest in. I am reticent to say safe, as no stock is ever completely safe.

Given the hawkish nature of reserve banks around the world and the need to curb inflation, gold comes to the forefront as a store of value, and a protection against that inflation. In line with CW's comment, if I had cash to deploy and wanted to be in the market, I would most definitely be investing in "promising" companies such as those listed above. Junior explorers, no matter how de-risked, will be second fiddle to their more established counterparts.

For those reasons, these companies are best placed to take advantage of a rising gold price, which may very well be lower (or higher) once and if explorers do eventually mine their deposits. As we are all rational beings here (I certainly hope so), we may prefer to deal with absolutes. That's why I am inclined to agree with CW, as gold producers are delivering now, rather than providing a promise to deliver, which may very well never materialise.

This is in no way an indictment on BRB, however, the climate that we live in calls for a greater margin of safety that may very well suit most investors and their current risk tolerance.