I also have money set aside in case of a general second wave down in the markets which could drag gold stocks down as well as happened in the last one. I think this is a prudent thing to do in the current environment.

However, various technical analyst have indicated that this second down wave is not a sure thing and if it does occur it may not be until early in the new year. Even then it may well be that gold stocks will not be affected nearly as much as at the end of 2008 since many investors are reluctant to "flee" to the US dollar because of its own difficulties. They may, in fact, finally see gold as the safe haven it has always been.

Analysts also seem to think that the current strength in the price of gold will continue at least until the end of this year.

As far as MTO is concerned, it seems to have turned a corner with higher grades being discovered at Barry, the 1200 tpd processing not far away (we hope), other interesting discoveries such as Nelligan, and above all, the higher price of gold which will mean a good profit even at higher processing costs.