Gold may correct a little in October, it normally does, then strongly runs through to the beginning of next year.
I think we have reached the turn-around in NGF, and it coincides with the turnaround in the whole junior sector. Yes it is still weak, but don't you get the sense that momentum is returning? The likes of SLR, MML, TRY have bolted... so who are the next few cabs off the rank?
If NGF can offload Sienna coal tenements, perhaps Mt Morgan, most importantly reduce costs this quarter... then I don't think 60c is out of the question. Chuck in a substantial increase in proven reserves and perhaps a greenfields hit and we are well and truly back in the game.
Looking back, yes its not a pretty picture. But looking forward does give a rosier perspective.
NGF Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
