Ann: Co-O Mill & Mine Expansion Update April 2013, page-10

re: Ann: Co-O Mill & Mine Expansion Update Ap... Down some 85c since the last few posts on this thread!! This mkt is taking no prisoners. Have any holders sold-out today? With no debt and ultr low COP MML will survive. But SP could be sudued for yonks. Impossible to know what will happen where every week a new country pops-up requesting (demanding) billions in bail-out cash after living for years beyond their means. It's likely to be Slovenia next followed by God knows next. I thought the continual deep cracks appearing in financial mkts would support POG. Instead the banks holding loans have risen in price whilst goldies have been smashed. With POG below $1400 i doubt our biggest miner NCM is viable. Imagine if that sucker started to unravel!

Things we can be sure of:
A) No new money for small time explorers. Has been the case for several months now.
B) Producers to cut back on exploration themselves if even reserves are smallish.
C) Cut costs to the bone on current operations. I can see new contracts being rewritten with hourly/daily rates down 20%+.
D) Even then world prod of gold will fall over next 12 months. Whether its 5, 10 or 20% is anyone's guess?