We can dream! 4Q15 ~ US$16.6m 1Q16 ~ US$17.6m 2Q16 ~ US$18.5m...

We can dream!

4Q15 ~ US$16.6m
1Q16 ~ US$17.6m
2Q16 ~ US$18.5m
3Q16 ~ US$19.4m
4Q16 ~ US$20.3m

All at flat US$1400 PoG.
And assuming my extrapolations for the quarterlies are reasonably accurate - which has to be in doubt the further forward one goes.
CPDLC

ps. during the bull run from 2002 I used to apply a CAGR% to gold in all my earnings models of c. 5%/year (the reality was about 14%/year!). I would love to be able to do that again - but still way too early.