ball park seems very reasonable, i assume thats on current PoG and current average PE ratio for the XGD
i would say there is considerable upside to that when the DXY confirms a break of trend and foriegn money comes back to the ASX on top of gold outperforming AUD as they both rise.. i agree with your base case, but I see a tidal wave coming into gold over the coming years
we are on the cusp of a massive gold bull market.. relative to fiat currency it will be parabilic (the death of fiat) relative to general equities its forming the biggest head and shoulders patter ive ever seen (SPX/gold ratio)... imagine that ratio just getting to the neckline never mind doing the inverse move of the head.. if it does that it will absolutely blow the gold/housing ratio out of the water from the 1980's peak
Ann: Quarterly Activities Report, page-12
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