Golden Portfolio 10X subscribers get a Halloween treat. Another GP holding was taken out today. That's 9 over the past year representing 25% of GP's total portfolio. Probe, Loncor, EMX, Sandstorm, MAG, Orogen, Calibre, SilverCrest and Reunion.

That's acquisition #9 for the Golden Portfolio in less than a year. Honestly, even I'm amazed at the returns.

GP's estimate of Boumadine's value is $8,799 mil NAV at $4K Gold. $6,723 mil NAV at $3K Gold. Results Monday night. Aya Gold & Silver trades at $1,572 mil EV. Few are prepared.

We are talking about 490K GEO's/year at $931 AISC from Aya Gold & Silver's Boumadine. Do the math.

Building Boumadine from Zgounder FCF.

Already trading at deal price indicates another bidder could show up.

Orogen was acquired by Triple Flag Precious Metals for $250 mil ($1.43 per share) for its 1 % NSR on Silicon (Arthur). This is new Orogen trading representing a free stock spinout.

If only there was an ETF to track Coeur Mining's shares outstanding, we would all be billionaires. newswire.ca/news-releases/…

15% premium to Friday's close.

Tether Gold is the world's ultimate currency. The Genius act is going to create the largest bank run the world has ever seen.

$3.0 bil after-tax NAV and 61% IRR at current Gold price. 4.6 g/t average GEO grade. Study was only on area in the red square. Boumadine is a district.

This is the pause that refreshes. Royalties are trading for largest discount to gross profit based fair value since Feb 2024, the start of the run.

Miners are trading back to Gross Profit based fair value. Gold Bull markets peak at 40% premium to fair value.

Elemental, Versamet and LunR

Regression between total Gross Profit/share of Newmont, Agnico, Barrick, Kinross and AngloGold vs GDX ETF.

My forecast Gross Profit is based on current Gold price, AISC and production matched against current EV.