Valuations who trusts the direction of world fiat protectionism anyway? What are the odds of keeping this debt system affloat for 5 years 3, or another year? This is the aversion to Any project a few years out. Mining or otherwise.
Look at SSP, my mid term play, I can't believe something ready to go, with such large reserves, is valued less than GV. Fortuneately I goto both early, which means it's been too long holding, in these uncertain times.
We can all be sure that the protectionists are doing all they can to keep gold price respectable to the world order. And those shorts come Cheap, to them, relative to what's been put in play to hold down interest rates.
Unfortuneately, I can no longer see 'take out' as objective of having a position. The big boys have continued to build production. Despite continuing depletion of their reserves. But when will they start buying, and at what prices, if/when the true debt crises start to unfold (ravel).
GV is still in exploration, but with the best opportunities to produce. Sort of like Pretium with their high grade. If by some stroke of short term luck, or the continuing educated use of GV's capital we hit the 'blind' count on evolving to their position.. So I watch market cap and pay attention to 'Stateside', on this board, as he is realistic with his optimism.