But it does explain why the SP consistently trades WAY below cash backing - as every single shareholder on the register expects management to burn the cash with a negative return to the other shareholders.
But as management are the major shareholders, they write their own cheques. Sweet deal.
I really think GAU and GBP should merge. What a great company that would make with a much larger golfing party.
But it does explain why the SP consistently trades WAY below...
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