gold up 8 dollars in 1st hour of trading, page-6

I'm surprised to see that KAL hasn't even started construction, let alone digging out gold. This will be at least 2 years time, getting finance...etc.

We tend to value specs at today's gold price.... in 2 years time what will gold be? It may be higher due to US dollars weakening.

This reminds me of when U was a hot sector about 1 years ago, everything was valued at market price. What happen to U stock now? Most specs are about 1/2 their value from their peak.

Same goes to Iron, where most spec are overvalued. When you calculate the cost and timeframe to dig them out it's at least 2-3 years time.

What about base metals, when it was peaking none of the specs were producing anyway.

I'm not downramping but pointing out the facts. It has day trader all over.