Gold now at A$1460. 350000+ oz pa at all in cost of less than $1050 starts to yield a nice return for a company with market cap of only $500m (after the raising and SPP) and about $40m in net cash.
Sure it is heavily leveraged to the gold price but claims it is inherently too expensive at the current gold price or compared to its peers are ridiculous. The price will obviously have been artificially pushed down a few cents on Friday by those who got new shares at 86c selling their existing stock for the stag profit. Not sure if it will climb higher but it won't go under 86c without gold going much lower so it is one of the worst shorts around.
If you want to short something put your house on XRO - a house of cards.
how fortunes are made ..., page-26
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Last
$13.00 |
Change
-0.010(0.08%) |
Mkt cap ! $14.94B | |||
| Open | High | Low | Value | Volume |
| $13.06 | $13.07 | $12.97 | $72.66M | 5.575M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 262060 | $13.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $13.01 | 3144 | 1 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| NST (ASX) Chart |