Chart - No bottom in sight, page-138

By now, BDR should have a pretty good idea about 4Q production, which might, just miight, explain that aggressive short covering as per the chart on JID's post.

the porous nature regarding information about BDR's operations as seen many times already this year suggests somebody knows something.

meanwhile spot gold now about US$1200 is really trying to gain a foothold at or above that level despite being repeatedly smashed lower in recent weeks. This will of course fatten BDR's margins and who knows, if the price pushes higher, could spark some interest in locking in some modest hedging.

goldman sachs is probably right to be concerned about the relatively low grade of BDR's ore reserves and we'd al want to seee postive reconciliation of this ore grade during processing after the duck bonanza comes to an end., which it hasn't yet.

but GS could well do their homework better and they wouldn't be talking their own book would they? BDR greenlighted Tucano i think before the golden duck turned up, and has proved to be the lucky star every new gold miner dreams of.