All great stories but in now way comparable to current sentiment. I'm not sure how anyone can argue we are currently at the top of the 'cycle' in gold and in particular in the the broader commodities space. Commodities have historically rarely been cheaper compared to stocks for example.
The gold price is high in A$ terms but in general gold sentiment is governed by the US$ gold price, which despite its recent move attracts very little general market attention. Junior gold companies are struggling to get financing, big companies are paying off debt and paying out dividends. Majors leaving Australia. Very few signs of hubris.
As for saying that a big hole in the ground is indicative of a has-been mine, again I think this is a comment without much basis. Still plenty of very economic reserves here, let alone resources.
Then of course there are the macro economic indicators which are flashing signs of recession worldwide, with Australia looking particularly vulnerable. I struggle to see how QE in Australia (which is looking increasingly likely) would be negative for the A$ gold price.
My only concern is the wall remediation but I doubt SAR would have just paid $1B without some very good understanding of the plan to fix this.
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