allied is a goer

Allied Gold has the Commonwealth Bank as a major shareholder.

It's hard to believe that the CBA would put about $10 million into Allied Gold if they had any inkling that it has no future. The CBA financial gurus are unlikely to be that stupid.

And M&G Investment Management Ltd seems to be rather confident too with a big slice of the action - but who are they?

I'm betting about $16k on the outcome of all this.

Basically Allied Gold will move up and down with the spot price of gold as it has done for the past year or so and if an investor gets out at this point I reckon they are just a weak hand.

By the way - gold moves up 10% and Allied Gold usually moves up about 40%.

The reverse also seems to be true - gold declines 10% and ALD goes down 40%.

This reminds me of Newcrest - all the way from $4 to $20 with all the bad news along the way but it never stopped the price from continuing to increase.

This one is a goer and I wish it would get to 30 cents so I could load up the boat much more.

So it goes ...