OpTrader,
I guess dreaming is a form of imagination - we certainly need that to make a profit in the current market. I don't disagree with your philosophy on the LONG TERM trend for POG but I just don't see that at work ATM. NCM does have a great long-term resource but what value is that in the present if nobody wants to buy it ? The trouble is that as POG approaches cost of production the margin diminishes exponetially so the SP has potential to drop through the floor. I am currently sitting on a significant loss here (but not as bad as some of my other inspired investment decisions !) but I am not about to rush in at this level to average down. However , if the SP goes sub-8 (which I think there is a good chance it will) I will reconsider - there IS value here at some level !
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