Hi Baires, don't know what Maguire is hinting at, but if the market wants gold in the future it better keep the major miners in business, they will soon stop being majors and become privates on rehab at this price. Estimates of the average production cost for senior producers vary somewhat but are way above today's price, clustering around $1350 an oz. Another sign of a bottom: I had a call from a pm dealer last night. Ike