worldwide gold production will be down 50% they way things are going - 20% already in Africa (with their average all in cost of $1500 p/oz)
Exploration costs literally halved with half of WA's drill rigs sitting idle and the assay testing labs are the same. beauty is BLK is cashed up to capitalize on this.
Mines and Plants going into care and maintenance daily, WA contractors doing it tough because of this, only making it a competitive market bringing down costs - capex to open the mine would be a third of what it would have been two years ago.
meanwhile...
reserve banks are printing money like its going out of fashion. currency devaluations in full swing.
the US debt still growing (but that's going to happen for next lifetime or alternatively they will go bust)
chinese, Indian and all asia for that matter (not forgetting Eastern Europe) buying massive amounts of gold.
The perfect storm for BLK...
they will drill up a MASSIVE resource for half the cost and get into production for a third of the cost and lock in contractors at a competitive rate all the while Gold at some point to go parabolic on this massive demand and lack of supply.
there's my rant just there.
BLK Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
