70 cents, page-12

Doc,

The lack of buying is also a lack of selling - meaning investors are happy to sit on their shares and wait until more happens with POG.

The confidence levels went up a lot following the release of the quarterly report from 2 facts:

1. margin in A$ terms is now safely above A$800 per oz; and,

2. production numbers will exceed forecast due to better extraction rates (115%) and greater throughput from the Carosue Dam facility.

With POG looking to have found a floor at US$1,750/oz, analysts can now calculate forward outlook for cash and profit with much greater certainty.

I ran some numbers through my rudimentary model and I reckon SAR will outperform their own outlook by more than 10% this year.

As always, DYOR. But this has now become my favourite stock on the ASX.

PS I bought a few more today at 52c.