RE:No positive outlookThis article in this link is thoughtfully written but not entirely correct. The GoldMoney side of the business , where most of the vaulted gold is managed, has traditionally earned storage fees.
i do however agree with the author that the financial statements to date do not provide enough information to analyze the business model longer term. We may not be able to do such an analysis until sometime in 2016.
Some posters have jumped on this and declared that the business model is doomed to fail, that it is broken. They are entitled to their premature pronouncements I suppose but they cannot back them up with facts. Nor can the bulls who see this company as a sure winner. The numbers do not yet exist. They will come in time.
I submit that investors must put on their "venture capital" glasses to look at XAU.V at this early stage. Does the business concept have serious disruptive potential. Can it benefit from the network effect? Does it have the right management team? Are there first-mover advantages?
If the answers to this sort of question are positive, then its probably worth a serious bet.