bgf equities' warwick grigor said on friday.

As BGF have underwritten BYR options,and maintained a hold on BYR when the SP was in the mid twenties ,its worth IMHO reading their assessment of gold.

"The reality is that the US is insolvent but there is no receiver/administrator large enough to handle the job," BGF Equities' Warwick Grigor said on Friday.

He says the world carries on, based on promises of debt being paid but without any idea of how that will be done. That's why the gold sector will roar.

from the same article

"We believe gold could repeat the extent of the 1970-80 gold bull market, implying upside risk to above $US2500/oz," analysts say.

In fact, Citigroup does not rule out spikes to $US3800/oz or $US5000/oz due to the debasement of fiat currencies and the global economic outlook.

http://www.theaustralian.com.au/business/opinion/overload-looms-but-conference-visitors-should-save-their-eyes-for-gold-shows/story-e6frg9ex-1226105601794

As management look closer at the development of Mansounia as in their words"together with the greatly improved spot price for gold",any further upward movement in the price of gold must,you would think make the project viable.

Raider