ThoughtsSeen Nova Gold get nailed today as they had to shut down their Nome Rock Creek open pit mine. Looks like a complete fiasco out there with cost overruns and operational and environmental issues and now the company can't generate any cash flow and is left scrambling to try and raise funds. I'm patiently waiting for the feasibility study to come out for Osisko for the Malartic project in the next few weeks. I realize they are trying to get the project up and running by 2010 but under the current economic conditions would love to see the impact of South Barnat not only in terms of resources but the impact on the project economics as well. The current median right now in the gold industry is around $450 per ounce. I'm guessing that Osisko with Barnat should be close to 600,000 ounces per year with cash costs below $350. Have no doubt that the decision will be to proceed with production. Interesting will be how they finance the remainder of the project. Will need 600-700 million to bring things to fruition. Key will be the returns in the feasibility study. Pre feasibility numbers were good, The financing aspect won't be decided probably until the spring and hopefully we will have Barnat factored into the equation at that time. My understanding is that they are contemplating and evaluating a number of different financing scenarios. This is where management earns their money especially in this difficult credit crunch. Fortunately we have an excellent project in a great province with gold continuing to rise and a company with $135 million in cash. Cash is king. Insiders own enough of the shares that a takeout at these prices won't happen. Those ounces of gold aren't going anywhere and management will not give the company away for nothing