Dollar Bill

Gold's stubborn strength is pushing spreadsheets ahead of drill holes. And Dollar Bill sees more moves forming, with some left-field possibilities. There's Kingsgate/Emerald in South East Asia, Capricorn and Bellevue - despite their distance - and perhaps some Leonora adjacency tidies make sense. There may be more on the home front, while in Africa, Perseus and West African Resources look like a regional fit.

If you've been watching the order book chatter, you'll have noticed the market is starting to remember how to take a risk without immediately breaking out in hives. Dollar Bill reckons that stellar day-one IPO pops for Virgin and GemLife weren't miracles - they were signals that investors will fund a credible equity story at a fair price.

According to charts and data just trotted out by the Bank of America's global research chief strategist. we've walked back to the dot-com peak on multiple metrics. While the air may be getting a little thin at the top of the market, Dollar Bill reckons it's still a mighty good time for a climb in the small cap foothills.

Dollar Bill (AKA Bulls N Bears' Bill McConnell) has been polishing his monocle in preparation for the resurgence of the small caps market – and it's starting to happen.