Junior Gold Miners as a Hedge, which 3 would you hold?, page-49

Very interesting example Wainui,

WAF have been hard at it for 10 years from the start, in a simple and miner friendly jurisdiction (Burkina Faso has grown to be the 4th largest gold producing country in west Africa, from a zero start 10 years ago), and only just getting near mining start date. Exploration by Juniors stopped now outside Australia, in Australia is where I wouldn't be banking on any low fruit discoveries for the future. Exploration by majors..see my comments on the AISC effects.

and you can easily believe there is going to be an issue on the supply side, sometime soon

cheers, Gunga