theres definitely no big buyers yet - sellers have driven SP in last 6 months, even before the recent market carnage, CR etc
hopefully this will change
in alot of ways we're walking a tight-rope
we need market to be a little unsettled to ensure POG atleast holds its ground (or keep increasing), but can't have the economy go too badly otherwise funding risk is increased - also can't afford AUD to strengthen too much more
at the moment, that seems to be the scenario thats playing out (atleast in Australia) - only piece thats missing is sentiment in gold stocks - i think most investors have been waiting on sidelines perhaps to see whether the POG run is sustainable (buying into an MYG is taking a 12 month view of POG) i think the penny is starting to drop and theres a realisation that the POG has moved into a new paradigm and there are recent signs of this starting to flow thru to gold producers - next in line is the juniors
so long as: 1. POG doesn't crash 2. oz economy doesn't completely tank and banks remain strong/willing to lend 3. greeve's beliefs around whats in the ground are realised
the big buyers will come....surely
MYG Price at posting:
8.9¢ Sentiment: None Disclosure: Held
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