jeanluc - I'd like to think I'm in (relatively) good physical health (and thank you for asking). I'm still breathing and not wheezing - each of those two aspects being significantly better than the opposite of those attributes. Now as for the quality of my mental health ....... ????
I'm still a bit overweight VAU (I've taken a bit of cash off the table on the stock from what I thought was a "way overweight" position) but I don't think it's "management" that's holding the share price at around its current levels. My feeling is that the company's ore doesn't have spectacular grades and that if the gold price declines, profitability will be a bit lower than some optimists are forecasting. As I've said before on this thread, I think everyone knows what the hedge book looks like (and has factored it into their valuation of the stock) so I can't see the stock re-rating, cet par, when the hedges drop off.
The most recent announcement from your good friend Mr Tonkin suggested reserves/resources had increased but to achieve this, the company has had to include a pretty optimistic value for the price of gold (and thus what level of ore is "economic" to mine). I regarded it as a BS announcement and one which just added to my feeling of being underwhelmed by the company's last Quarterly Report.
We all hope VAU will start to outperform but at the moment, its recent performance is less than the recent performance of another of my overweight stocks - bloody TLS!!!!!
Go figure!!!!!
Spend time sorting out your 2024/25 trading activities (tax wise) over the next 3 weeks, jeanluc, and we can all worry about the course of VAU's trading prices next (financial) year.
VAU Price at posting:
45.0¢ Sentiment: Hold Disclosure: Held
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