Barry Fitzgerald today re RRL raid from Twiggy and unvalued gold...

Barry Fitzgerald today re RRL raid from Twiggy and unvalued gold stocks.

“ While the attempted raid was abandoned, the fact that Australia’s richest man indicated by his actions that leading gold stocks on the ASX were over-sold was just the tonic the sector needed after getting smashed in June.

The June sell-off was massive. Regis lost 36% of its value in the month. Northern Star (ASX:NST) shed 24%, Evolution (ASX:EVN) lost 32% and St Barbara plunged 41%. Sector leader Newcrest (ASX:NCM) did best by falling “only’’ 17%.

The falls are quite remarkable given the Aussie gold price actually edged higher in the month on the weaker US exchange rate to be some $A240/oz or 10% higher than its level a year ago.

Still, sentiment has been shot by the retreat in the US price, and confirmation in recent weeks that the local industry is being hit by cost increases and labour shortages. No doubt about that, but at least the smartz inside Wyloo reckon there could be value to b“e had.”

He also mentioned CAI in the same article.

”Apart from mentioning Pacgold again, they came up with two new names they said they were watching – the advanced WA gold explorer Musgrave (ASX:MGV), and the newly arrived WA gold producer Calidus (CAI).

Calidus eased 2.5c on Friday to 58c. It was 85c a month ago. So the re-rating on it becoming a gold producer Garimpeiro has talked about previously has well and truly not happened.

Confirmation at some point that its new gold operation in the Pilbara is hitting all of its targets will go a long way to getting a re-rate going.”