One clear message I got out of Diggers and Dealers is the amount of money (margin) gold producers are making.
I know some here think the investment in Tanami Gold is a mistake or a joke. However, there's an old saying "Don't fight the fed". Most of the central banks are buying gold. I wouldn't want to be they know less than the punters.
I think Tanami gold should be encouraged to get on with what they're doing drill holes, and produce a PFS.
Exploring and developing for gold is like that you look like a useless mug, until you're a hero. Hence the high P/E's. There's plenty of M&A in the sector anyway (including Newcrest). With those sorts of margins often of the order of 50%. there would be.
Sorry if the more strategic comment is a non-sequitur.
All IMVHO.
MLX Price at posting:
37.0¢ Sentiment: Buy Disclosure: Held
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