GHDC is now collecting the basic rent payments from SFMI- the $1M/yr (though the payment for this year was in the form of SFMI shares). You would think that GHDC would on paper at least be profitable, since they literally have nothing to do but collect the rent, do the filings (which should be mostly cut and paste), and maintain the leases (though they (PT I think) screwed even that up this year). But someone at the annual meeting pointed out that PQ is paying himself and his family so much that not only is GHDC not profitable now, but that it can't (CAN'T) be profitable even when the mill expansion is complete and the leach system is up and running. They would have to increase the capacity of the mill to make that possible.

I realize that many problems are in the past and nothing can be done about them. But there are three ongoing problems- the presence of less than qualified family members (which caused many of the earlier problems and is bound to cause more), the lack of transparency, and the excessive greed of the Qs.