The price of gold is irrelevant to those A&B shares. I'd even argue that it was NEVER a factor in this deal. To get any "value" from those A&B shares, NMGL claims it will register them for trading. Which means, there's no cash dividend attached to them...you'll have to find someone to buy them to see any money. You really think someone is going to pay you $16 a share for something that was simply created out of thin air, with nothing to back them up? I maintain that NMGL got FFGO's asset for free.