gold launched, page-21

For those wanting to get some insight into gold exploration, its performance,, trends to date, and a glimpse of the future, I recommend the presentation by Richard Schodde

In particular his presentation on Gold Discoveries at the New Generation Gold Conference of last year. If you were a betting man its a fairly good bet that Australia will not have much of a gold industry in the next 10-15 years. Too expensive, technically very challenging, takes too long, too much bureaucracy (etc)...and very very few runs on the board in terms of multi-million ounce discoveries that make a lot of cash (SAR is definitely not in this category)


http://www.minexconsulting.com/publications/nov2011b.html

Multi million ounce greenfields gold discoveries are very few (think Tropicana ..... and then what?)

Abroad, its a similar story. Companies are battling to replace their mined ounces, multi-million ounce discoveries are few (on a global basis).

Cost of discoveries is going up.

Discoveries are getting lower grade, as is the head grade of most mines in the world.

Demand is increasing, due to a gross loss of trust in the global financial and monetary systems, closely tied to a gross lack of trust in politicians and political processes.

So this funny metal which the economists would love to get rid of, but which has been a store of wealth for 1000' of years (much longer than the US$ or the Euro) will be around for a few more 1000 years, and one suspects eternity.