RE: RE: RE: RE: RE: RE: WHERE is the news release!JP, we've had our tiffs on here over the last 2 years or so, but as I've said in the past, I respect your opinions as you shoot straight. I too have some gripes, but they are minor. Its high time Stein returns to a format of having conference calls to end the quarter and I plan on calling him tomorrow since the IR guy has not returned my call from 2 days ago. I too would like to see more up to date NAV reporting. But....on the other hand, I'm sorta keen on conservatism for the long haul. More up to date NAV reporting, more disclosure in press releases about the valuation methodology for the royalties might draw in Joe Retail more readily, but Joe Retail is notoriously weak handed. This stock will move in a real way more via more diligent investors, and we will always look those things up and do those calculations for ourselves anyway. Yes mgmt gets more cheap options this way, but we have the oppty for more cheap shares too. Bottom line, mgmt is making killer deals over the past 2 years - stunningly killer deals. Look at page 15 of the 11/12/10 presentation on the website. There are far worse things than a company making killer deals and not getting instant recognition, that is practically the exact definition of what I look for to make real money. And to touch on Sir Hollers' points, who I also respect completely, yes mgmt takes a 10% cut, but the industry standard is 2 and 20, so 1 and 10 is in truth hard to complain about. The gold royalty may do not much more than cover the G&A, but usually the G&A has to come from the corpus, and again, look at the deals that have been made. We are collectively complaining about price being at a discount to a NAV that is rising insanely - and blaming mgmt for price without giving any credit for NAV. Yes Pinetree has gone nuts with their price to NAV ratio - in truth I would prefer that Pinetree still carried the same discount it used to - Pinetree is the poster child for opportunity lost.