Ann: WAF produces record 82koz gold in September Quarter, page-148

I think you have to think like this if you foresee a falling US$ gold price over the years ahead.

If you think like this then why stay invested in gold at all? Investors will be exiting left, right and centre if they have reason to believe gold will keep declining over a number of years, leaving shorts as the way to make money.
Somehow the discussion seems to have lost sight of Kiaka. Production from Kiaka is still a few years out but will make a major jump in WAF output and reserves. I bought back into WAF after their announcement of the purchase of Kiaka since the figures showed WAF to be cheap. As a company that has proved its ability to build a substantial mine, I was prepared to take on the development risk and the proximity to Sanbrado gives operational benefits. Estimated future output including Kiaka is around 440 oz allocated to WAF.

The main issue that I have is the single country location in an unstable country and so I would support a move into another country or a merger with someone like PRU to create a West African based entity of real substance spread over multiple jurisdictions. GMR is a minnow that they might be able to make something out of since their Kada prospect in Guinea is interesting and they have Kouri in Burkina Faso that needs more funding than GMR can provide to take anywhere. I know Kouri is not much of a prospect at present but would come as part of the total package.