AQD already has over 1million ounces of gold resource and still drilling! A Gold Price of $2000 per ounce would make a fantastic enterprise value for the company!
It is an excellent time to be a gold explorer with a gold resource that is still drilling.
Id be very happy with $2000 per ounce!
Cheers Nectar
Wealthy Chinese to fire up world gold price, says Richard O'Brien
James Glynn From: Dow Jones Newswires June 13, 2011 12:51PM
THE world gold price has yet to peak and the steady emergence of a wealthy Chinese middle class will help underpin a move toward $US2000 per ounce over the next five years, said Richard O'Brien, chief executive officer of Newmont Mining yesterday.
Mr O'Brien said global gold demand and supply conditions are set to ensure the gold price remains robust over time, with entrenched weakness in the US dollar set to persist as Congress shows no sign of reining in the country's budgetary woes.
"I've got to believe that the US dollar goes lower over time," he said on the sidelines of the World Economic Forum on East Asia.
"I'm a firm believer that the gold price has not reached its peak, but it will remain volatile," he added.
"Five years from now, $US2000 gold will probably be in reach," Mr O'Brien said.
Next year, gold will trade in a narrow range of $US1500 to $US1600 per ounce, with the market focused on concerns about China's ability to sustain its expansion, and the potential for a double-dip recession in the US economy, he added.
"That could be negative for gold," but markets need to understand that whatever happens, the gold price will remain above $US1000 per ounce for the foreseeable future, he said.
"People need to get with the program," he added.
Demand-side dynamics are set to remain strong while global gold supply tapers off in coming years as projects become more expensive to develop and government approvals are harder to get. Some central banks are also starting to buy gold again, he said.
Demand from both China and India for gold as both jewellery and as an investment is set to be strong, he said.
