Bottom Is In, page-103

I am not sure what you are getting at with the first part of that post. Gold fell from $1,900 to $1,250 - $1,300... Correct. Do I think its feasible for it to fall another $600 oz...? No.

Why dont I think it will fall another $600 oz? Because that would put most global mines out of business. Simple supply and demand (which is what drives commodity prices) suggests as production goes offline as prices fall, supply tightens and then an equilibrium gets reached. If gold prices increase above $1,300 oz, more mines come online and supply increases. Looks like $1,300 oz is about the equilibrium for now.

And no, its not simply $600 - $700 less than Anglo. Anglo retained their mines that could produce at a far lower cost. In that same report I got the Mongbwalu screenshot with Opex at $1,302 they had Kibali one page over at $763 oz. They retained the quality and got rid of the rest.

WAF is on the watchlist but thats about it at this stage. I dont know enough about the risks to BF at this stage to throw money at it, plus its not as speculative as I usually go for.