The following link provides an interesting perspective on the...

The following link provides an interesting perspective on the future trend in gold production.

http://www.miningmx.com/special_reports/conf_cover/2010/mining-indaba-2010/world-gold-production-to-stabilise.htm

The one tit bit of info that really interested me was the cost/oz to explore for gold.

Quote:

"He also highlighted the soaring costs of gold exploration work pointing out that the cost of replacing gold resources/reserves had risen from around $10/oz in 1986 to $52/oz in 2008."

If this is the case then it would be fair to say that a company with X number of gold ozs in the ground, as defined by a measurement standard such as JORC, could be valued on this metric alone.

GC