AUC Target 12c - Strategic Target 18c, page-181

I still insist Auc should be15 cents by now ! When do people understand ?
Heres why :
The mining industry’s dilemma is that they are running out of reserves and under investment. Peak gold has arrived. Resource grade has also plummeted as open pits mature. In addition, the lack of discoveries hurt supply. Few of the miners have big mines in the works. Moreover, since to build the average mine it takes up to a decade or longer from “first pick, to discovery, to first pour”, the industry hit the supply wall. Also, the government propensity to keep plucking the golden goose has made investors cautious. For example, the Kyrgyz Republic’s nationalisation of Centerra or Papua New Guinea’s year long renegotiation of Barrick’s Porgera joint venture is part of an industry-wide trend of government scrapping agreements to gain bigger profits or additional ownership rights. The new Peruvian government has threatened to nationalize its mines. Unfortunately, the money grab is a fact of life and even in the state of Nevada, bureaucrats want to impose an “excise tax” on gold producers, holding many miners hostage, as they move the goal posts.