932 and rising, page-18

On consumables - acid costs alone have risen something like 4 fold over the last 12 months alone.

Fuel costs, diesel generator costs have gone through the roof.
Explosives have done the same.

Costs for an average mine would have easily increased by more than $200/oz over the last 2 years alone.
Costs will continue to rise in the future.

it'll probably cost another $200/oz to produce gold in 2 years time.

So the gold price needs to go up - especially as the mined production hasnt increased over the last 8 years - the same as it was in 2001.

We have a reason to be bullish right now and buy gold - global inflation.

So I think we can forget gold going back to $800/oz.