on the move, page-10

Interview this morning (USA) on CNBC Squawk Box with some guy from Blackrock Resources who was very comfortable with POG at present levels.

Maintained US$900 was the minimum breakeven for most miners even before servicing debt or thinking about a dividend. This underpins the price.

Far more margin in other metals compared to cost of production. eg copper, iron ore.

Central banks now generally buying as opposed to selling, market efficiencies of ETF.

In spite of 4 fold increase in price, world wide production has fallen and is squeezed by demand etc

Overall implied some solid foundations in place which can justify major gains.

Would not openly admit to being gleeful every time the reserve bank prints more money.