It's the old 2-card trick. Look one way and, POW, they slog you from the other direction.
I think this is exactly what the "smart"money want us to think. Whilst we are worrying about the share POG at $1440/oz and offloading stock of NCM in a panic, they are buying up all the stock and waiting for the POG to suddenly shoot up to $1900+ per oz.
I can tell you that Mac Equities has in their model a POG of $1700+ for Q3 this year and peaking at over $1900/ oz in 2013. They also have an "outperform" rating on NCM. Nothing loke scaring the flock at the start of the month so they can show improved performance by months end.
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