i've thought for the past few years we would see a parabolic rise in gold just before it crashed to a new base level.. we never saw the overnight skyrocket and we really hav'nt seen a crash. with the exception of a minor shoot up in gold to $1900 oz gold has been pretty range bound for about a year now. the past 2 months has definately been in a trading range of $1550-$1650.

i'm just throwing this out there. what if gold has found it's new level? from everything i've seen mining companies cannot meet global demand with gold under $1200 oz and new discoveries/mines are shrinking all the time. when you take this into account gold is probably selling right where it should be as a commodity without the "fear factor".

the reason i bring this up is because i believe mining equities have suffered greatly from the "unknown" future direction of the POG. If the market gets the feeling that gold is somewhat stable at $1550-$1650 then equities should at some point see a valuation level come into play.

there's no question imo that GNH (and many others) are currently undervalued to the extreme. for f's sake they have over a million in cash, a ton of unexplored claim blocks that are on/near a known resource, a 400k+ oz resource and i'm sure some decent tax/exploration credits. all for a $9mil market cap??? at some point the fear play in gold will have to end and the valuation play begin.