Hi Mardo
I respect your views but have to admit my knowledge of the technical aspects of gold mining are Nil.
I tend to use my previous skills as an accountant and credit analyst to take a more holistic approach.
1 ) Charts are difficult with small volumes but $1.10 is an obvious support. Watch closely at $ 1.30 ( see todays movement on very small volumes )
2 ) Coming into traditionally soft time for equities
3 ) Gold price could go through the roof with QE3 but this is unlikely to happen in my opinion so gold price could come off.
4 )Poor communication from management with history of missing targets.
5 ) Potential profit margins are good but see 4 above
6 ) Political risk ?
If these people came to me for money the answer would be to value the company at $1.10 less less risk margin with funding dependent 09/2012 results being in line with projections.
There lies my rationale. Revisit at end of Sept. If I miss out there are other businesses out there.
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36.5¢ |
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Mkt cap ! $2.482B |
Open | High | Low | Value | Volume |
36.0¢ | 37.5¢ | 36.0¢ | $8.768M | 23.83M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
12 | 1439618 | 36.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
37.0¢ | 357787 | 9 |
View Market Depth
No. | Vol. | Price($) |
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12 | 1439618 | 0.360 |
14 | 1345165 | 0.355 |
21 | 438420 | 0.350 |
30 | 1704174 | 0.345 |
28 | 2052253 | 0.340 |
Price($) | Vol. | No. |
---|---|---|
0.370 | 357787 | 9 |
0.375 | 2276971 | 23 |
0.380 | 1955251 | 27 |
0.385 | 1310794 | 12 |
0.390 | 1115173 | 18 |
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