I am astonished to read in this presentation that they are calculating the reserves based on a gold price of A$1,850! That's nearly A$1,000 per ounce below the price reached on 11-March (A$2,839). That's really taking conservatism to an extreme. Given that we are possibly looking at a global banking crisis, I am very bullish on the POG as investors get skittish. (mind you, I've been wrong before about the POG in the past so don't take my word for it).
Ann: The DRIVE to 100 - Euroz Hartleys Institutional Conference, page-2
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