Hi Elpha,I am just saying that no matter the resource in the...

Hi Elpha,

I am just saying that no matter the resource in the ground if the company is badly run and can't get finance then even in the best of times it will be in trouble. In these times it could easily fail.

The bottom line is GRY is going to need to raise approximately 180 million or so on top of what it has to get this mine built, commissioned and run. That equates to more than tripling it's current market cap if it can raise the money at these prices.
If it borrows the money it will have to hedge the gold at prices that are not much above it's all in cash costs resulting in a NPAT that will leave a very low ROE.

As for other companies...I don't know of any that are great value on the ASX in the current climate. I still think PRU is undervalued but it is not a speccie of course. The best one I can think of, and it's not quite a speccie but it's not a producer is PVG on the TSX. But they also have similar issues with funding and huge cash burn. Overall they are a good speccie buy I think.

Good luck in GRY...I've been down this road to many times to ignore the fact that it mostly ends in tears.