In terms of the Euro, Pound, Canadian and Australian dollars, Brazilian Real, Swiss franc, South African Rand and many other currencies Gold peaked in early February and in some of those cases is significantly lower now than it was then.

Gold is at its high now in $US terms and this means that since VIT's properties are almost all in the US VIT's Dollar Index cost/oz. is coming down steadily. In other words, from a US perspective, if we take the cost of production in the US as steady then the cost of production in Australia has increased dramatically since the $AU/$US price of Gold has fallen 50% since February.

For international Gold producers like Newmont and Barrick, with their broad currencies conversion requirements, focusing more on operating in the US is becoming increasingly attractive - especially considering the bonus of political security entailed in operating in the States. This makes working with VIT, with it's rapidly expanding inventory, all the more attractive to them.

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