Goldmoney Inc. (XAU)
Published 2026-03-17 • by canadianvalueinvestors
Thesis Summary
Goldmoney is a gold storage business with real estate holdings. The stock is viewed as an asymmetric bet due to real estate value, repurchases, and potential tailwinds from rising gold prices.
Quantitative Overlay
Detailed Deep Dive
Since we purchased and profiled Goldmoney last September, it has turned into a goldmine. https://www.canadianvalueinvestors.com/p/goldmoney-xau-analysis
> Our thesis? At current prices ~$10 ~$126MM market cap, the price is undemanding and an asymmetric bet. The real estate portfolio is very likely currently worth roughly this never mind future development opportunities, repurchases are significant, and the storage business could have very real tailwinds with the run up in gold as fees this business earns are a percentage of the underlying precious metal.
Since our post, an interim sale of one of their real estate properties provides some insight into the return of these ventures and management’s mindset.