history repeating itself, page-4

I didn't think there was much to lose buying at the current price. Only 4 cents above the 52 week low, but better positioned than its ever been with Macquarie finance facility in place and gold price hedged.

Only risk is what happens with the resolution of the fiscal cliff and the impact of that on the gold price- but that will impact all stocks.

The biggest risk with Saracen is its high cost of production- but I think this is mitigated by the hedging of the gold price they have in place as well as the depressed share price. Also, the one thing that is certain is the rest of the world (US, Japan, UK etc) are going to keep printing money- so long term the gold price should rise.