On the website is also says there is potential for the resource to increase to a total 50,000 million ounces. Quite staggering.
My interest in gold stocks is purely because I am bullish on gold. So I feel the less per ounce we pay the more upside there is. So not too worried about how much they are actually producing, cash costs etc as if the price goes up $300 it does not discriminate, all ounces go up the same ! so less you pay the more you should get back!Maybe best to leave in ground until POG is $1500 :)
Citigold is one the cheapest per ounce so I am keeping a watch on it. Do not hold yet, but gold mining has been too costly, mining outputs have reduced greatly, little incentive for exploration etc etc. There maybe be a breakout if production keeps slowing and POG keeps appreciating.
Then companies like citigold could possibly see huge increases in s/p.
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