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09:26
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Originally posted by Tonkin
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I have subscribed to Alan Kohler for six months just to see what their opinions were. In there column Barry Dawes who is the Executive Chairman of Martin Place Securities recommends Blackham Resources for his clients. he said in part: I see long term – and I have seen for some time – long term growth in this company. If it’s only producing 80 thousand ounces a year against a 6 million ounce resource, you know that there is expansion potential and they will be able to look at that I think towards the end of the year. I still think that the gold price will be much higher over the next 12 months, so think that’s going to help them as well, so I’m very comfortable to be recommending that stock which I have for my clients.
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On what gold price assumption is that valuation formed? Barry is a perma-commodity bull. My guess is he's assuming somewhere north of aud2koz, in which case that valuation could be feasible. Until gold shows some sign's of trending back up however, that's nothing but a pipe dream.
