all in price, page-56

POG in AUD terms also was down 20 bucks during the night

and sorry - I do think most are judging Aussie gold stocks by AUD POG vs "all sustaining cash costs"

Right now (and poss for quite some time) gold is just another commodity with less uses than Ag or Cu and it's all about "margin" like in any other sector.

Hence the change of sentiment as margins have come off the heights of 500 plus A$/oz to very little (or negative) to reasonable (as far as we are told for SLR)

If you take avg 200koz prod./annum a drop of say 300/oz = 60 mill !

That's the cream no longer produced - that is the CAPEX gold companies got addicted to during the mantra of "ever increasing resource"

(yeah not really "representative" but can only use "top" numbers to point out the "margin decline" in the sector)