Breakout 6.5c. to test 8.2c for next Breakout to 11c, page-57

IMO Gold is the only thing keeping all these drilling companies alive.
If you look at the drilling by commodity pie charts they all read the same, brownfield & production and gold makes up the majority of stage and commodity.
Shudder the thought if Gold miners weren’t making solid margins and didn’t have capex to spend.
Most drillers are fully utilised on their UG fleets.

Glass half-empty - A drop in the POG would be almost a death blow to lots of undercapitalised companies.
Glass half-full - If gold is the baseline scenario, then any uptick in other stages and commodities will see a sharp rise upward.

My 2 cents - Greenfield surface coring non-gold (or copper) is what BLY needs in particular.