CHART - NML Big Picture, page-312

Taking the contrarian view with gold atm - my personal opinion is that the "tide will turn" for gold in the near future especially with general market sentiment faltering. As long as we are in the black, producing under AISC & carrying out exploration within our comfort zone, I am willing to be patient for the longer term (there are plenty of bargains out there depending on what risk you want to take). My expectation is that this stock has the potential to multiply with the transition to open pits and higher grades, improved mineral inventory especially with some outstanding drill hits & further exploration at MCU, Telstra Hill, etc. For me the Stawell corridor is still a sleeper & at this market cap, the risk reward factors are within my expectations. Happy to consolidate at these levels. GLTAH.