At Detour in June 2008 (September 2008 crash), Gerald had $85M in bank with 44M shares outstanding; in September 2008 stock crashed from $20 to $3 but bank balance remained stable; this buffer allowed disciplined capital allocation despite market collapse, contrasting with Gold Terra's current position where he holds $330M shares with high cash burn.
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Speaker
Gerald PanonEvidence Quote
“in June 208 the stock is $20 and in September 08 what do you think the pric is what was it $3 wow and how much money do we have in the bank $85 million how many share outstanding 44”
Source
The Biggest Problem With Junior Mining, the Story of a Mine Builder, and a Different Copper Porphyry— Resource TalksCreated: 8/13/2026, 4:56:03 AM
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