grades, page-39

Well the future expected price of any commodity is a given when you buy a stock. It seems redundant to even keep bringing it up.

It is assumed price of zinc will go down next year so the market has already reacted. The price of gold is expected to go up so some people buy into now. I am not sure anyone buying stocks views historical prices, you buy on future expectations. If they disagreed the POG would increase then perhaps a point but they are bullish on gold as they have stated on the gold thread. Obviously if mining started it would coincide with the expected POG at that time. It would be like going on the FMG thread and saying but it is a waste of money to buy this stock as we do not know what the price of Iron ore will be in a few years when mining starts. Basic share trading 101.

There are basic assumptions that do not need to be brought up on every stock.

On costings, well first we need to get a finalised resource don't we? Once again why buy a speculative stock if you want to know the final resource and cash costs. Then you buy a stock that is at the point in time. Again a simple assumption. Basic sharetrading 101 again.

Before this is known you compare to other based on in ground value, and KAL is at the lower end on a per ounce valuation. What is the point of paying $500 per ounce because cash costs are low?. It should be total cost and KAL is at about $30 an ounce so no downside at all and if the POG does explode then it will provide a far higher return than producers. Compare to say EXM which is closer to $120 an ounce with current uneconomic resources. There is upside priced into that s/p on expected, but unknown, results. It is how the market works. Again share trading 101.