why lower low's?, page-8

which is interesting b/c a couple of us analysts i heard on cnn believe gold in the ground companies (non producing) were excellent value(and that was pre this slump) on grounds that (a)you win if gold increases (b) you win if market collapses and you hold to production as the dcfs are based on very low gold prices. On the down side they said they had held that view for a couple of years and their investments had gone backwards but the value proposition still held true. I'm happy to sit this out a few years as i'm not leveraged. Value will be there.