Thanks Baires, you've made me feel (slightly) better about diving in, with my usual excellent timing, for another tranche of shares at 34 cents on Thursday, only to see them touch 31c the next day! Still, even I won't be quibbling over a few cents when cashing them in at $3 in a couple of years time...

The current market for juniors reminds me of when I was buying terraced houses in an inner city area of the UK 10 years ago. You could get a perfectly lettable house for £11 to 15k, less than half what they would have cost to build, and let them out for £3.5k a year, netting a nice 25% yield. People thought I was mad. Banks didn't want to lend on them. But last summer you could, and I did, sell them for £60k each. Unbelievably, investors were still buying them last summer when the yield was more like 7% and banks were more than happy to lend on them. Prices are on there way down now....

My point is, you've got to buy what's cheap (and $33 an ounce for economically extractable gold in the ground with massive exploration upside sounds cheap to me) and hold it until it's expensive. Don't be deflected from your course. When you know you're right, it's just a matter of having the patience to stay the course.