chuck
Unfortunately the POG looks like heading even lower and PRU will take time to turnaround its operations, so I doubt there is much upside here. Costs for their operations and taxes are simply too high in Ghana.
Your hope for a short squeeze may not play out because for those who have already taken their short positions it is now very easy for them to close out their positions without pushing up the share price.
This announcement is a disaster for confidence in the better the goldies, and adds to the recent bad news for the sector by MML.
People can forget about the Ivory Coast project going ahead for a long time. PRU will have its hands full working to survive. The hedge may turn out to be more of a help than a hindrance.
loki
Ann: Edikan Gold Mine Update , page-16
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Last
$2.59 |
Change
0.240(10.2%) |
Mkt cap ! $3.564B | |||
| Open | High | Low | Value | Volume |
| $2.51 | $2.60 | $2.48 | $20.56M | 8.065M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 280 | $2.58 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.59 | 88930 | 2 |
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| PRU (ASX) Chart |