ready to go, page-6

Yep, gold is there but just need to define what sort of system it is and as you say, alot more work ahead.

Here's an interesting article taken from the FML thread:

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American fund managers have junior Australian gold stocks increasingly in their sights because of their relative cheapness and exposure to a rising gold price, says miner and explorer Focus Minerals.

Chief executive Campbell Baird said US and Canadian investment funds expected the gold price to continue climbing from record prices around $US1,300 per ounce, to $US1,500 per ounce in coming months.

He said the funds believed the US dollar would continue to slide, so they would benefit also from a favourable exchange rate when selling out of Australian stocks.

"There has been significant investments by the large American funds into Australian listed gold producers over the past two or three months," Mr Baird told a Western Australian Mining Club function in Perth.

Fellow junior WA gold miner Ramelius Resources recently attracted North American funds to its share register, buoying its share price, he said.

Australian gold stocks were seen as good a deal in North America, where their domestic gold stocks were fully priced because resources and reserves were fully valued.

The Australian market, on the other hand, put most of its value in gold production, Mr Baird said.

"The valuations of Australian gold companies versus the valuations of Toronto-listed gold companies are literally at a 50 per cent discount," he said.

"The Americans are starting to wake up to that.

"The view is that this valuation, with the rising gold market, is going to be corrected some time soon.


http://www.wabusinessnews.com.au/en-story/1/83929/Nth-American-funds-buy-Aust-gold-stocks