On my long term chart for gold I incorrectly stated Alf Fields target for the next up wave in gold as $3,500.
It's actually $4,500 (not that any of us would be unhappy with $3,500 or my fundamental target of $2,500 - which does not allow for highly likely further money printing).
http://www.mineweb.com/mineweb/view/mineweb/en/page103855?oid=140544&sn=Detail
Not too many here seem to follow Alf Field?
He is regarded by many as the best at predicting POG using Elliot wave.
SLR fairly predictably found resistance at 2.79 (to the cent).
I was just surprised it got there today with POG down and HUI down o/n. Picking resistance there was not difficult but knowing whether it would drop or break through and go higher was another matter. My guess is a break through next few days (markets allowing) despite pulling back from there earlier today.
I am continuing to like what I see with this merger the more I look into it.
I think this thing is worth around $4 conservatively and using $1,600 flat gold price. That would be my target as we move past 2013 production and approach 2014 (6-9 months).
Confirmation of a higher gold price will push my target higher. I particularly like the increase in mine life, diversification of mines and plant and likely reserve and resource upgrades to come for IGR's resources and reserves post merger.
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