Bottom line, BAA will increase many multiples when factoring in 240,000 oz production and a steady gold price. While on the other hand I don't see Gold price increasing by those same multiples in the short run. At this ridiculously low valuation of .64 a share the rational thing to do is trade one for the other. It's a great trade-off not only in terms of intrinsic and created value but opportunity cost as well.