Out of interest Fred, Colin, with the MC at its current amount, resources and cash/investments, would you sell now?
My rationale for buying in the last couple of months was due to all the above reasons, plus above all, its a big, shallow gold find that will, unlike many projects, get developed by either GRY management or perhaps, others.
Large high grade open pit(I use the term loosely, but from what I read, any resource close to 2gt open pit is worthy of development) resources are almost impossible to find, even with the huge amount of cash been thrown at exploration by the myriad of small/medium cap explorers.
I very much agree that management need to prove their worth now, especially with the way the markets view Gold stocks so badly right now (producers, developers and explorers alike).
If GRY do not have the right people to develop Banfora, Management should hire them, get the finance which without doubt can be accessed and build the mine so as to reward those who have held/supported the company during its many capital raisings.
One other question if I may put it out there, why do the gold majors not do J/V with medium caps that have good projects...?? seems a good fit to me, majors have the capital, or the ability to get it very cheaply, whilst some of the medium caps have resources worth funding (unlike the huge 1 in Chile that has been binned).
Oh for the day that PRU/EVR/RSG management take the reigns of GRY. There is money to be made surely?
GRY Price at posting:
44.0¢ Sentiment: LT Buy Disclosure: Held
