I really like how this was developing but was shocked at the OPEX cost of $2,000 per ounce in current quarterly. Very disappointed and immediately dumped my position, as I was not expecting to see such a massive bleeding in OPEX at this stage. I am now standing on the sideline to see if the market agrees with my negative view.
Aussie OPEX is still very high compared with other countries and will kill off a lot of projects if they do not get costs under control.
Treating these situations as short term trades in the early stages of a major bull market.
Will re-assess in coming weeks as news flow continues.
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