Agorafan,.some things to consider since your still dealing with an equity. Check in fact that the Royalty has vissible gold to back the amount of share liquididy floating on the market. Remember their is alot of Tungsten bars coated thinly with gold passing as bullion and as the bullion price fluctuates so does your price, so good luck trying to sell in a fasion time line. San offers both since it has a 43-101 to back up her gold and gives you a chance to trade at your whim. San as an equity offers growth beond the price of gold as her 43-101 increases through the drill core you also have a rise in your equity and possible substained future growth. San, once she reaches consecutive quarters of + quaters and get s listed on the big board along with margin is to me a better option. Long On The Golden FairWAY,. Traps7