The Gold Grid

Data-driven research on gold explorers and developers. The Gold Gap is a framework that tracks what acquirers pay for gold in the ground versus what operating margins say it's worth. Free articles, M&A analysis, and valuation frameworks.

By Alain Gilbert

· Launched 4 months ago

The Gold Gap: Why Acquirers Pay a Fraction of What Margins Justify

The structural compression between what operating margins justify and what acquirers actually pay, and why it closes fast.

READ THE LATEST

LatestTopDiscussions

Built From What Acquirers Pay For

The Gold Grid, explained: from the anomaly that built it to the framework that tracks it. One company entered the system at C$0.54. Six months later, it…

Jun 16•Alain Gilbert

2

The Math Acquirers Will Eventually Have to Use

There is one calculation every gold producer eventually has to run. When they run it honestly, $93 an ounce does not survive it.*

Jun 9•Alain Gilbert

3

Gold Fell 20%. The Spring Is Still Wound.

The Gold Gap is still wide open: acquirers are paying 2022 prices for ounces a record margin can produce.

Jun 5•Alain Gilbert

3

2

1

Gold Gap Snapshot — June 2026

The gap narrowed this month. That's not the good news it sounds like.

Jun 1•Alain Gilbert

2

How to Read a Geophysics Press Release

A worked example for reading airborne magnetic and radiometric data — using this week's Walker River Resources release at Lapon Canyon.

May 28•Alain Gilbert

3

1

Two Truths the Mining Market Has Only Priced One Of

Two things are true in mining right now. The market has only priced one of them.

May 26•Alain Gilbert

3

The Gold Gap — Your Signal

Acquirers pay $93. The math says $729.

May 19•Alain Gilbert

6