RE:Precious Metals under ManagementYour first assertion is totally correct . The amount of fees is linked to the price of gold .
Regarding the stock of pm for themselves , it will have almost no impact on this Q and the last one because it was almost empty after the 3rd property purchase. Cad 1.7 mil (dec 31 2023) vs 53 mil ( march 2023)
So no ( good ) surprise on that side to come even with some possible oz bought with the cash remainng ( 14 mil ) or the activity since april. But i think RS plays perfectly the most interesting choice between stocks buyback , interest repurchases , pm shopping , or new properties.
Goldmoney has played the full ncib possible by erasing 10 % or 1,4 million shares within 1 year. . ( +58 k in april )
The stock is totally missunderstood right now , but would deliver cad 18 milions in fcf EVERY YEAR ....
I see 50cts + as net earning on this Q, or a 3,80 per on year basis or a fabulous 26% fcf yield.
The only problem is the valuation of the mene asset . Result coming mid june.
This is pure opinion. Gl