IMO China is now calling the shots on the US economy. They will also, from here on in, call the long term shots on the POG.
In the end, because the US is now hopelessly and irrevocably bankrupt, the US dollar as the world’s reserve currency is toast.
In its place, IMO, will be a new type of fiat currency administered by the Bank for International Settlements in Basel and backed by GOLD at about $6,000.00 or $7,000.00 per ounce.
This will set off a gold rush in China, South Africa, USA, Russia, Mexico, Australia, New Zealand, Canada, Sweden, Norway, Finland and all the countries of Central and South America.
China may let the US continue to play around a bit with the POG and allow them to smash it down from time to time, as they do now through instructions to their Agents, JP Morgan, HSBC, The Bank of Nova Scotia, etc, but they will not let them get carried away. And that is especially so since they have told their Banks, Companies and in particular, their 1.4 billion people to start buying gold as a good investment.
So, we need not worry about what the future holds for SGR. With competent management we have 80 to 100 years of mine life ahead of us at 1500 tpd and profits that will rise ever higher as the grades, efficiencies, exploration techniques and mining technology continues to improve year over year.
Fred25
