Pintoagreed with everything you have to say. I think the gold...

Pinto
agreed with everything you have to say.

I think the gold price as it stands (US 1,195 & AUD 1,400) is to be expected after the current rally, but seems to be holding at the moment.

My personal beleif is that gold will not retrace much more than what we have right now in AUD terms, it may against the USD in the short term.

Sooner than later I also beleive (Just like many others) that the price of gold will rise against the USD dramatically. I am of the opinion that the AUD will continue to fall dramatically against the USD for some time yet, couple that with reserve upgrades that we expect with FML,this year will be very interesting.

A scenerio of USD 1,500/OZ and AUD 0.65 cents against the USD = AUD 2,307 is not out of the question.

80,000 OZ x AUD 1,607/OZ = AUD 128.5 millon gross after cash costs of AUD 700/OZ

They just need to get that reserve base up and off we go.

Until then if you can accumulate at these levels you will be a winner, you just need to wait for the right moment and I recon it will be in the next 12-24 months.

Godd Luck All Holders