bear back of the envelope, page-100

certainly looking more positive for NCM I will admit with pressure taken off, hidden valley now above break even and not drawing negatively on cash, POG USD has had a weekly close above 1200, China cutting rates , will be interesting to see what RBA does given ECB BOJ and now China stimulating, not sure they can jawbone it down screaming fire all the time in property, the rate differential is too big ,,,

POG now in an interesting position with prices static now for the YTD basically, with more than a month to go, this will be interesting