Zuannah: I'd agree with you if it only were Nymagee we are...

Zuannah: I'd agree with you if it only were Nymagee we are talking about. But there is Hera coming first, and with a gold price at $ 1700 (soon partially hedged?), that will be widly profitable even in a bad economy. Now, if you think the gold price will drop before they get to the hedging phase, thinks might look differently. But I am pretty confident in this regard.

P.S. As a European, I'll say that the rumours of the Euros death are greatly exaggerated. If the shit really hits the fan, the ECB will bite the bullet and inflate its way out of the crisis, imO - first by dropping the interest rate, than by buying Italian and Spanish bonds. That might take another shock first (e.g. downgrade of France), but the end result will be money printing.