Somehow I "think" the selling is more the test of $1180 POG/USD than anticipating any disappointing news. That picture does indicate a good quartz vein with visible gold so I would have to say the 1100 sample ores were probably not hitting the real vein and it is getting interesting from here. Shame I am fully loaded and not mandated to increase anymore individual stock exposure.
A scan of the gold sector reveals that even the best of the producers like NST are being thrashed by panic selling presumably anticipating a break of $1180 soon? It is too early to tell if this level will hold until Europe opens at least and being a Monday might not see much action.
Right now what is of concerns is to get good economic grade recovery from the sample ores to show that operation is viable and then see how far POG can fall. Sentiment driven selling as the actual margins in AUD is much higher from an operational POV for the gold sector.
Keep faith holders.
ORS Price at posting:
2.1¢ Sentiment: Hold Disclosure: Held
