Re: And Another Thing
The longer you look at the story Doug, the more improbable it seems. Central Fund will trade at a discount to bullion even though it is liquid enough to enter and exit freely. So too here we have a free carry on an important element of a huge project, an area play, an exciting resource expansion/continuing exploration play, a hugely leveraged to copper upside play in Nevada, and we were below cash, now just a few tens of millions above cash. Pennies on potential dollars.
No underwriters. No letter writers. No distribution by any major house. Nobody's book of business to drive the price for distribution just now.
Too small for analysts and in any event they are tied to 43-101 blinders and attach nothing for prospective accretion of value.
A pre-Presidential year is a little lift under the market's wings. Continuing central bank liquidity worldwide is maintaining the gold trend even though the U.S. Dollar fear trade has suggested otherwise for the past year. Copper looks underpriced vs. longer term fundamentals of population growth and urban migration coupled with energy use modernization.
Be right, sit tight?
cg