Ann: Mutiny in discussions on development of DSO , page-6

re: Ann: Mutiny in discussions on development... My view is that gold is at or near the lows. Seems Goldman's think so as well. It has been the POG that has affected getting bank finance & it will be going forward. So if indeed POG is near the bottom we are likely to get a reasonably sharp bounce as shorts are covered. MY view is gold will recover to around $1400ish. Still a lot lower than where it was, however I think the Aussie will be between 90 & 95 as well so quite a lot lower than where it was pre gold slam as well. The development with mine contractors is an interesting one. I assume they would need to have the cash on balance sheet as if a bank isn't willing to lend to MYG it certainly wont lend to a contractor building the plant etc for MYG. Will be putting the call into JG re the private equity channel to see if its of interest. Cheers Daytr