I've been pretty happy with my GRR investment since I bought in...

I've been pretty happy with my GRR investment since I bought in at the beginning of 2017 at 16cents when someone on the RMS thread alerted me to the deep value in that stock. That chart did take another bad dip with falling IO prices after the run up I bought into but for mine the chart is back on a pretty firm footing since Oct 2017. I've been paid a total of 3.5 cents of dividends and the price is curretly at 26.5 cents making a 87.5% return since Jan 2017. The company has work so far for my portfolio and help diversify it a little away from gold. It's the only IO stock I hold.

https://hotcopper.com.au/threads/year-ahead.3143993/page-44?post_id=22151177#.XIHQjxo_WhA

The value destruction happened before my time as you and others pointed out to me on the thread above.

GRR has issues which hold the price back but I'm still happy to hold while they keep the open pit mining going.

Eventually GRR will be facing the same issue as Syama, ie a need to go UG and that will involve a big capital spend. I expect to get out of that stock before that process truly starts.

In respect of your comments about grade being price senstive to commodity prices, I'd argue that it's the margin not the grade that creates the most sensitivity. If Syama can truly beat down its costs to US$746/oz it should remain pretty price insensitive also because the mining should be pretty mechanical and consistent without too many surprises once it gets to steady state. Of course we are not quite there yet so the ride currently isn't as smooth or relaxing. The risk/reward is being played out NOW!! I think the asset is worth the risk and a few hiccups along the way. No one really likes changing a baby's nappies but most people would argue the rewards are worth it. Esh