If history repeats POG will rise due to the conflict then will go down ie we will see a short term bounce. However, if it turns into a major conflict then POG will zoom up possibly well over $US2,500.
The Maiden reserve is due 2nd half of 2024 according to the latest announcements - I expect it will be after the next MRE upgrade towards the end of 2024 after they have drilled a lot of Pepper to indicated and increased the resource - I am expecting a reserve of at least 1.5m Oz and maybe even closer to 2m Oz for NN, Pepper, WW and 4P. That would make it better than BGL and at a higher grade than BGL's current reserve of 5gm/t.
$1.50 is achievable by end of 2024.
Gold and macro environment, page-48
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