Good to see HHL increasing their stake to 39M shares. Fully agree that this stock is undervalued by around 25 - 50 cents per share. Would not be fully surprised that if itv stayed at this level for too much longer that a takeover may be on the cards.
Gold is going $1500 - $1600 USD by end of the year. So $2000 AUD is definitely back on the cards.
BLK need to focus on just producing gold as per estimates of $800 per oz C1 cost and qty they have said they can.
If they meet C1 costs of $800 per oz and deliver 100,000 oz. You are looking at Gross Profit of 70M @ $1500 AUDPOG & 120M @ $2000 POGAUD.
If that happens you would be looking at 7x earnings $700M - $800M market cap with a share price around $2 - $2.50 per share.
The short term stuff does not matter- focus has to be on producing the gold. Nothing else matters.
Ann: Change in substantial holding from HHL,HHL-BLK.AX, page-40
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