pip

Actually, gold moves like, gold is really, really volatile.

It can move 300, 400 pips.

Pips are like movement points.

They're like the smallest points a price or a stock can move.

so if you buy it can move 300 400 pips in very little time and you are just going to be like wow what is what's going on here profits and then also come back and take all of those profits so um and then that's why a lot of people don't like trading gold because it is extremely volatile no matter how grounded you are if you're not careful it can make you um unstable And the last thing you want to be as a trader is unstable.

It may not just be one page.

You know, I've seen PIPs with, you know, a few pages long where there's sort of a chart and columns of, you know, concerns and areas of improvement, etc., etc., Um, so yeah, I would say maybe the timing and the sort of the formality or the structure and detail put into those letters would be the main difference between those two.

One of the things, you know, when we talk about the, um, we talk about the pip, uh, you have to sign it.

It doesn't, you're not signing it cause you agree with it.

So there's a specific provision into integrating directive.

So overall, the reform places the greater emphasis on life cycle management of the PIPs.

So the key feature of is an introduction of evolutionary PIP.

I would say the, the concept itself is ent- not entirely new.

So this builds on the existing stepwise pilot, uh, PIP we have, so a sponsor can submit an initial PIP based on information what they have at that time of development, and then they can update the PIP as development progresses.

It's interesting, isn't it? 'Cause I've always, or at least recently, considered that that's something that we could always do.

I mean, I've, I've, I've filed loads of PIPs where there's been just the lack of information to make decisions, so we've always submitted something that's a bit skinnier with an agreement to update later in the development.

As, as development progresses and you have more information on which to really make those key decisions.

Da, dun, dun, dun, dun, dun, da, da, dun, dun, dun, dun, dun, dun, da, da, da, dun, dun, da, dun.

Oh, hi, Pips.

Yeah.

[laughs]