Yes I agree and would like to add, for the major gold producers...

Yes I agree and would like to add, for the major gold producers the better performers going forward are most likely the the ones which will be able to grow their production organically. Global gold production has probably peaked and reserves ad resources are dwindling. This will lead to increased takeovers/mergers, which I guess will demand some hefty premiums in the current precious metals environment, so its an expensive way for the bigger companies to grow/ secure their supply. Northern Star is very well positioned to grow, from the assets they already own.

They just increased Jundees plant and they are in the process of doing the same at Pogo. I guess they will start Bronzewing soon, and together with Saracen they will present in the near future how operations at the Superpit are going to be improved, which obviously will include sizing up the underground operations, which always has been NSTs strong point.

So, taken together I can see the whole business growing in the direction of 1.5 Mio. ounces/year over the next couple of years, with just the assets they own now. That would represent a 50-60% increase in output and I think the market would love such "growth" storys before the background of a gold bull market. Miners are still heavily undervalued compared to the recent gold performance and I think there is reason to believe that will change, once we clear the ATH in the USD after gold has already set new record highs in every other currency.