For those reading Lassonde's presentation at Grant's conference he made clear the importance of Chinese & Indian gold buying. There are insights on those buyers at this conference including a representative of the People's Bank of China making explicit their expectation of the devaluation of the dollar.
Linked HERE
Marc Faber's presentation from the LBMA conference linked at Zero-hedge
Linked HERE
Barrick's Jamie Sokalsky's Presentation highlighting the rarity of large gold mines, declining discovery rates, skilled labour shortages, capital cost overruns and increasing all in costs as producers low grade their mines.
Linked HERE
If all in cash costs are $1,500 and gold prices $1700 giving a real margin of $200 a potential fast move in gold prices, with limited cost increases (!?) to, say, $2,500 gives a margin of $1,000, an increase of 400%. Rosen's HUI to 1650 up 400% perhaps then seems conceivable.
The junior companies hold the keys to many new discoveries and development projects.
With improved profitability and stock prices acquistions should become key to growth and sustainability for the majors.
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