Regarding the assets, consider this:
When gold assets are described as "proven and probable" reserves, this means they are still part of millions of tons of rock, which need to be excavated, processed, smelted and refined. This takes time and costs money. A lot of money.
From my research recently I have found that, while the gold assets themselves may be worth $1000 per ounce, it may cost anywhere from $300 (Barrick Gold Mine, as an example, one of the Cinderalla stories of gold mines) to $1500 (or more, depending on yield) per ounce to get that gold to market.
So, yes, there may be $120 billion in gold assets; but what is it worth to the share price if it costs more than that to get it?
The one interesting aspect is that gold prices are rising and, even though they are already at historic highs, many are predicting it to go much higher.
So, Petro may indeed be able to realize actual share value from these "billions in assets":
1) if gold prices rise much higher, and
2) if the costs to extract the gold don't rise as fast as the gold prices do (costs go up as the dollar loses value), and
3) if these gold mines actually pan out to their "proven and probable" yields, and
4) if Petro can find a partner to extract the gold at a lower cost than the value of the asset itself, and
5) if Petro has solid, long-term contracts for these gold mines.
That's a lot of "ifs", and I'm sure there are more... but that, I think, is why you don't see higher share prices. At this point, it is all just high-risk speculation.
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