Ann: Close of the Share Purchase Plan Offer, page-58

I don't know if I agree with that timeframe re gains. I think once we've moved through this holder selling down and we see the next pop in gold price (in the 10-15% bracket) sentiment and low liquidity will drive this into the 50-60c range.

My guess is June/July - once we've had 1-2 months of the inflation data come through that will scare enough people to buy a little gold insurance... regardless of whether you believe this is transitory inflation or not. I expect that macro theme will float all boats in the gold miners so unless you believe in the GPR promise you can just as easily hold safer bets (NST I would deem the safest risk/reward in this regard).