use your brain
People need to use their brains. GBK has the largest land holdings in what is undoubtedly the most prolific polymetalic mineral belt in Canada. Plus it's in mining friendly Quebec. Their resources and reserves are in the world class category but the market is afraid. JJ spent about $50 million on their 50/50 JV. Where else do you see that kind of expenditure just on drilling? GBK is in a great position because JJ will have to buy them. You see JJ because they are playing these little kid games will find it extremely difficult for GBK to trust them in anything they do. Any contracts will debated and will put alot of pressure on JJ. JJ will get tired of playing and will want full control of their mine. It's all part of the game folks, JJ wanted to demoralize shareholders before they start the process. The Raglan is world class district. Based on reserves and resources GBK should be worth about $2 today. The market cap is a joke. Even at 4% of CZZ, this stock is worth alot more. Think about it. a 4% royalty on a world class assets that will be in production for 50 years or longer.
basic calculation
4500 tonnes/day
$400/tonne
$1.8 million per day revenue
Cost $100/tonne
$1.35 million profit/day
360 x 1.35 x 4% = $19.44 million/year
GBK could make $20 million/year just with 4%
The valuation will have to go up. Way up.