er Got another 20k shares.
If my math is correct these guys have an FD market cap of about 36 mil USD and about 2.3 mil ounces of gold for a price of about $16 per ounce of gold in the ground.
They haven't found much lately but that may be a good thing. Hard to justify spending a lot on exploration, all they can do is twiddle their thumbs, do a little drilling to humor the geologists and wait for a resurgence in the gold price.
I am no longer convinced of anything when it comes to the long term. $10k per ounce gold? Who knows. Maybe long term it will be $1k.
But what I do believe is that where markets are extremely cyclical you can do well if you get in during the troughs and get out on the plateaus.
How's this for a wild prediction: At Vancouver conference, Roger Weigand predicted that in late 2013 the dow drops 50%, Obama and Biden resign, Boehner takes over, and initiates a war.
I sincerely doubt that scenario plays out but in this day and age, who knows what the future holds.