agm and minesite inspection, page-18

chuk

USD POG is heading down. Last night it fell more than WTI oil, which is a bit of a surprise to me.

If we are going into a risk off period, like we had prior to 5 October then we could see the POG fall back close to USD1600 (perhaps even lower), and the HUI, GDX and GDXJ all tumble like they did last night. Combine that with a retracement of the US sharemarket (and I am not talking about the martis C wave happening) then we could see all our goldies get hit badly again, including stars like SLR. Just look at how far PRU has fallen since it hit $4.00 a few months ago as an example what could happen to our favourite goldie. SLR falling below $3.00 would not surpirse me in the short term durng another panic.

loki