WAF $2.00 Party - You're all invited!, page-112

I think the margin thing is a hoax, if you think buying into low margin gold miners is a good idea buy Troy for 50M MC, 7k oz produced for the 1/4 at asic $1930US and up $200 from last 1/4 too (and gold went up $400 while the stock went down), it's 1/2 the mcap of bcn who produces the same at an asic around $700US. High margin gold producers are much safer, lower margin producers are scaping the barrel for gold and likely their costs keep increasing over time. DCN MC at $190M, gold producing 110k asic $1450AUD and problems with hedging. Compared with WAF $900M MC, asic around $700US, 300koz soon, higher LOM too. I'm in WAF for their increasing production. I'm surprised try is still alive. Going for marginal gold producers is too risky.