To offer a less psychological answer The gold majors (i.e. NST...

To offer a less psychological answer

The gold majors (i.e. NST etc) are up 25% over recent months. If the rally in PoG continues the "trickle down" will come.
In the meantime there has been just too many other ways for people to get their money working.... 5% interest on long term deposits, the major bank shares are up 20% over the last few months.... the passive investing via ETFs has a distorting effect on money flows.

The rhetoric around inflation has been "we are getting it under control" despite clear evidence to the contrary. Commodities in general are down for the reason that it is very difficult to commit to an investment decision when the future costs are difficult to predict. If inflation was really under control more big projects would be getting the green light.

Gold is up but silver is not. Gold is responding to the inflation. Silver as more of a commodity is also responding to the inflation, reflecting the doubts about the future strength of the economy. In a high inflation environment business struggles and many go broke. (look at the effect it had on CAI's business model for example.... but for the HAO JV CAI might have gone under).

Hi HaastsEagle

" I would like someone though to answer the fundamental question here which is how come the gold (grade) supposed to be in the initial project went on holiday and left everyone scrambling…."

I asked DR about this. Prior to the FID and getting the finance, CAI presented its drill results for analysis to 3 independent experts and all of them returned an expectation of 1.2g/t (±15%) for the head grade. The bank accepted it, FID went ahead.... but it proved to be wrong.