Several days ago I posted the schedule of the worlds most influential GoldMining Conference, at Denver, wth RED/VAU presenting on the 16th Sept, and I opined that RED should soon establish 30c as key support - bingo - but the very same people who decry RED;s SP not going up with the POG, dismiss its rise as "only due to the POG" .... yer just can't win with curmudgeons - they'll always see the glass as half full .... let's move on.
My subdued outlook for the POG has been assuaged, but I remain concerned about market stability.
The GDX is approaching 2020 highs and has outpaced the GDXJ, but if this good fever continues, then the GDXJ will outpace the GDX as it has more speculative companies in it - hence VAU, along with its peers presenting on the 16th should benefit.
From now on, VAU's good announcements should gain more traction, and hopefully these should be in the majority, as all the negative news has been declared, and positive progress reports should consolidate VAU's stature as a leading mid tier gold miner IMHO.
VAU remains a strong buy if this environment, and 40c is a realistic SP target, all other factors remaining neutral.
Fundamentally, VAU became an inevitability, when SLR, with the full knowledge and consent of RED's BOD, executed its are share raid in mid Sept'23, and hence all technicals of VAU should date from that period, as thats when the market accepted that reality of a bigger, stronger merged entity.
If VAU confirms 37c as support, technically it will have reversed to downtrend, and its chart will look rather bullish
(20min delay)