Gold smashed again in USD but still sitting at A$2520. Oil smashed too and on a downtrend (in both USD and A$), so energy costs won't be having any extra inflationary impact on Aussie producers (for a while at least). Share price impact is mainly due to international capital flows and the effect that has on people's psyche. There will be margin calls as well. Its a downward spiral type situation. Where will it end? Who knows, but lots of bargains out there in the gold landscape, provided A$ gold holds. CMM now sitting on PE of less than 10, which is pretty damn good for such a low cost producer with good long term assets, low leverage to gold price fluctuations, and no debt.
CMM Price at posting:
$2.80 Sentiment: Hold Disclosure: Held
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