Ann: Spectacular intersection extends Mulga Bill high-grade vein, page-54

Point one is where too many people get it wrong, Gold does not react to CPI, it reacts to the creation of money like in March 2020 to August 2020, then that creation of money leads to higher consumer prices 9 months to 2 years after, if gold also responds to CPI then gold would be double counting inflation and would be wrong.

The problem with GBR is I am assuming they can do a mine it's capex and inflation, they need higher grade and more gold maybe 2x higher on the latter metric, I think the days of a small PA producer with a mine on top of 1 million oz resource as over, capex for small does not work, need multi million deposit for a mine to be feasible and worth anyones time, unless the gold is really high grade and really easy to get at so it's like gold in the ground is like gold in the hand.