I agree. So far with 1.5 yrs drilling in Phoenix project, their gold findings are very close to GoldEagle's BCD, which is worth C$1.5B. So Phoenix property alone, is worth at least 1.5B. The other properties in the 40% of red lake area have high potentials and values too. In my opinion, the control of 40% of red lake area is the most important strategic advantage rby has.

With the solid drilling results, rby is on track of drilling - financing - more drilling - more financing - production route in 2-3 yrs. (Old miner pls comment if it takes that much time from exploration to production based on the progress you observe so far) They have no push to sell Phoenix , and for the best interest of rby, it can/should be the money generating machine(once it is in production) to fund all other projects in red lake/Alaska/Nevada. It is like the difference of keeping or selling a hen who lays gold eggs daily.I hope that is the mgmt's vision too.

As to the current stock price, the market is giving rby value of 800M, about 50% discount from the 1.5B NAV(observed so far), not too much off. The closer Phoenix is to production, the higher value rby market cap will be.I will stay as long as rby is on this right track to become an 8B company in 7-10 years. JMT. Good luck to all.