One thought that has just crossed my mind is this.Given the coy...

One thought that has just crossed my mind is this.

Given the coy focus on CH for at least 12 months, is it reasonable to think that the speculative exporation premium money that was in GCR has now gone?

Well consider the typical speculator - they are after fast upward movements based on drill results or something out of the blue - right? Well, GCR has well and truely dulled any thoughts along those lines for the last year. In fact project development could not be any more mundane than CH.

So the speculative money has left the house, leaving us longtermers again at cyclical lows. Does that mean GCR is priced at asset value only? Is all potential upside eroded away?

I am tending to think that GCR currently has no exploration premium built into the SP. So if GCR were to hit something big through their 100% properties or JVs, then it would be reasonable to conclude that exploration premium could return to the SP.

GC