Unbelievable!!!
May go down in history as the worst timed vanity purchase in the history of the Gold sector!
Literally on the day Gold sets new all time closing high in essentially every country on Earth they at big capraise and an overpriced purchased LOL.
This is why the Gold sector is so hard to get returns as shareholders, anytime companies start making good money they go out and spend capital poorly, funny how they never buy mines when the price is low isn't it?
At least there's the copper upside, although likely heading into recession, with a bit of luck Gold prices can hold over $2000 for a decent stretch but I don't think we're there yet, I think we'll see $1850 before $2200.
Ann: Acquisition of 80% interest in Northparkes Copper-Gold Mine, page-23
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