Good overview. A quick point on mining profits though. If gold goes from $1000 to $2000 then profits much more than double. I'm sure you are already aware but for other readers.
If a mining company mines gold at a cost of $500 (that's a low cost mining company, some mine at around $800 and oz).
Gold at $1000 = $500 for each oz mined.
Gold at $2000 = $1500 for each oz mined.
That's a trebling of profit, or 300%.
For a junior with an all in cost of $800 the profit would look like this:
Gold at $1000 - Profit $200
Gold at $2000 - Profit $1200
or 6 times profit or 600%
That's what makes mining companies so attractive when the gold price rises.
As a further note, mining companies have never been so undervalued relative to the stock market. If gold starts to rise and the general market turns down it will be a mighty exciting time for gold miners. Particularly in light of last years underperformance.