No doubt the price of gold will influence the share price in the future but it is not relevant at this point in time IMO.
The gold price is really only applicable when the company is in production stage, as it will directly impact on the revenue gained and then obviously the profit (the main reason we invest full stop!! to share in the profits of the company)
The only way the share price will appreciate now is following the continued growth in the minable resource.
The bigger the resource the bigger the potential for greater share price growth.
Only once we have a significant defined resource will the price of gold then actively influence the share price.
Until that occurs we need the following to occur for us to see an increased share price:
1. Continued drilling success
2. Management being smarter with their announcements and being consistent with the delivery of their announcements (ie: don't promise results when you can't deliver).
3. Management to regain the trust of the market - this is severely lacking IMO, too many unfulfilled promises.
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