seriously, you were warned around $3.80, page-42

lok the advisors to the wealthy in the USA are saying buy gold stocks not gold, chief amongst them Jeff Christian of CPM Group, a guy hated by the conspiracy bugs , but a guy I always listen to. If you really want to understand trends in gold and silver buy the CPM Group gold and silver yearbooks, i just ordered the 2012 Silver year book being released tonight in NY

As we know gold stocks have in general underperformed gold for a while, I think that ia about to change, but only for those that can deliver serious cash flow from operations, which doesnt include about 90% of ASX gold stocks but does include SLR and RRL . Underground development costs can run to $350 an ounce. RMS for example was a very high cost per tonne mined producer ,that cost disguised by the fickle bonanza grade. Look at KCN latest cost at Challenger. Scary, the market is scared of these underground mines for good reason, they are very risky. Les Davis understands those risks and his management of those risks has been faultless

As for MCO, it can turn on a dime, in that mine bonanza is only one blast away, buts its been a horror run for them, i still hold but not buying the lows, plenty of other choices. i really like the look of developer KGD for example, a very classy deposit, low cost , big upside, check it out.

I bought more SLR today and yesterday, first time in 3 years.