Hi Gonzo56, good point, as the next quarterly report will be the first one to show a substantial gold income on the books since the IPO. The GRUs are above the hobby level unit, but still a lot smaller than many other systems. L&M are running one 4x bigger than any of GEL's at Earnscleugh.
GELs' units can handle 50-70 cubic metres an hour, which is 50-70 scoops from a big 25 tonne digger in an hour, each. 0.2grams per cubic metre of gold is the breakeven grade, and I think they're doing twice that, so on current performance (a snapshot), they could have a net profit of $4mill a year. If they run any of the gear 24x7, this would greatly help further. But I think they are keener on tuning up the GRUs at the moment, and getting the third GRU operational. For that they'll need daylight.
Regarding the merits or otherwise of a stake in GEL: Brace yourself in the best possible way for quite a bit of news from GEL's head office dept. This has all been intimated to the market, while the weeks stretch on, but certainly quite a lot should have happened by Christmas.
WKP 35 drill assay, and other drills from WKP, could be a big impact on the company
Garibaldi - some exploration may be occuring, new hardrock find
Ophir - a JV and the other party now has cash
Muirs, report due sometime
Placer results (Drybread), 3rd GRU, JV with John Youngson, other sites
Latest PP part ear-marked for an acquisition?
Bear in mind that this is not a billion dollar company like OGC. Any results that imply some hard-rock mining is part of the future for GEL should have a proportionately big effect on GEL's shareprice. Current Mcap ranges from only $18mill to $25mill. They've spent a lot more than that on exploration, and I contend it has not been wasted.
Current price on the TSX is cheaper than over here.:)