Thank you very much Nord, as always your analysis and eloquence...

Thank you very much Nord, as always your analysis and eloquence is appreciated.
Sometimes a little confirmation bias helps too.

After watching the videos', I can very much understand your thoughts on hedging and waiting.
Funnily enough, BLK will probably indeed do what you mention, although GCY probably already has too much hedging.

As for DCN, you are correct, they do have good hedges in place, albeit only 50k from memory.
Oh how I hope your call of $2000+ for the AUD POG comes a reality. Surely that alone would finally give this sector the sort of interest it probably deserves considering the margins to me made.

I will say that I don't totally agree with you on an F/A basis regarding GOR (but of course, your video focus' on T/A, so... feel free to ignore! ha), as I find it strange that the market is willing to value them higher than DCN etc, just because of the long mine life. But then... I did not pick that NST/RRL etc would blitz the market and be so highly valued compared to the smaller companies in the same sector.

I hope you had a great Xmas and enjoy NYEs.

Cheers.