Ann: WAF produces record 82koz gold in September Quarter, page-98

"It's overbought to the max" – by what criteria?! Is that charting/TA guff you're referring to?

The share price is responding to a change in the fundamentals. Management have demonstrated that they can execute on their published strategy with the result that:

• Production is at record levels, well in excess of guidance
• Product a these levels is sustainable and not due to one-off factors
• AISC has dropped substantially, again due to continuing factors
• Debt retirement is a near-term prospect leaving cash flow in blue sky territory

This is a great illustration of why TA will always miss the boat on the really important share price movements:

1. Fundamentals determine sentiment
2. Sentiment determines trading
3. Trading is analysed by TA
4. TA explains what happened when the fundamentals changed