Ann: Access points located at Gubong Gold Mine, South Korea, page-5

You're right that it is a great statistic and maybe Simon should have pointed it out (like Charles Barclay has previously on several occasions).

For me, a mine like Gubong has had booms and busts from 1920-70 in accordance with POG suppression and re-ratings.

Pre 1933 the USD POG was $20.70.

After outlawing ownership of >5 Ozs/citizen, FDR increased the POG 40% to $35 overnight 1933. Gubong would have enjoyed this POG jump except it was under Japanese occupation at the time.

The war years would have seen good production.

Each year passing in the 50s and 60s would have seen costs increase to the point that perennial losses would have occurred by late 60s.

The mine remained closed for the 72-81 gold bull market because General Park wanted to industrialise SK in terms of modern manufacturing and Gold Mining wasn't part of his plans.

So all of that gold that probably would have been mined in the 70s and early 80s, if in virtually in any other country than SK, remains sitting there. Waiting for Colin and Charles to mop up for BMV and SAU shareholders.