Anyway - whatever the case with HHL ructions I got in today for a small holding. I will be looking to hold for a while but if (as some pundits are predicting), that HHL have to unload some assets as they "bring out their dead" it may be a good time to pick up some bargains, if people have been watching particular stocks and have the cash to go value/bargain hunting. Washington H Soul Pattinson sure know a bargain when they see it, so we could see them becoming more active in the resources sector, they have been active in this sort of space in the past.
Anyway - whatever happens at HHL it isn't going to have any effect on the next few months of performance at the mine site, that sets the stage for us BLK holders for the year. Its just my opinion but I thing the worst of the correction in US price of gold may be behind us now. Was looking to get into this earlier, but there were larger gold miners going for silly cheap prices that were too good to reseist as it seems the recent sell-down in aussie gold miners was completely overdone once people realised that the AUD POG was different and much more pertinent than the USD POG.
Bit of a weird part in the gold cycle in 2016 with decent rises and some falls in the price of gold, cost cutting in the industry and gains in share prices of most gold miners, but not as much deal making and merger & acquisition activity as some thought, and still dealing with the after effects of the exit of the big US/Canadian giants exiting from Australia from a few years ago whom got burnt by overextending themselves. Meanwhile more gold being pulled out of the ground than being proven up by the drill rigs so the macro supply demand story sometimes at odds with the shorter term price and valuations stories of the Australian gold miners. Interesting times indeed.
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