Seriously EZ? You can make this argument with a straight face? Are you suggesting we should ignore the fact that GRZ has only lost 60% of it's value while KRY has lost about 95% since permit denial? Of course from this point forward, KRY might outperform GRZ. If KRY "pops" to .20 it's a double from here. But you'd still be at about a 90% loss from permit denial whereas you'd have been a lot better off having stuck with GRZ.

Belanger told me directly a few years ago that anywhere in the world, including VZ, that legal title to a property (concession) was for more favorable than an operating contract. He associated it with owning your house compared to renting it. I'd rather be in their shoes.