There is no doubt in my mind brokers and short term traders would like a faster time frame. The aggressive drilling campaign was in addition to current mining program where I think the focus should lie with the first pour. This is on target and on time.
"It is expected that the remaining lateral development will largely be completed by December, with ore stoping to begin in late December 2021. Following which, the recovered ore will then be processed through the neighbouring Greenfields Mill."
This will be the catalyst for breakout and because the timeframe is clearer there is no doubt BAR will be capped while BAR is accumulated further. The aggressive drilling campaign will supplement the mining program to consolidate a new trend in due course. There is a lot to like from my perspective with a longer time frame goal in mind. Of course the gold will finance the cobalt/nickel at Mt Thirsty which is one of the biggest and flat lying deposits in the country.
BAR is under the radar of the general market for good reason and the price has been controlled. In the last week or so, there have been a number of small trades after the bell, both low and high which have fudged the data being graphed while the market is being tested and where small spills in relative terms have been accumulated. However, brokers rely on turnover to make money and they don't expect and increase in velocity until December where they can take advantage of the news.
In late January 2022, the Basel 3 agreement becomes enforceable for the London Bullion Banks who currently fix the daily gold price. Gold has bottomed and is up today, and will continue to rise in zigs and zags to cover exposure in the ETF's until the deadline. The $US is declining and the bond rates are restricted because debt can't be serviced. The Fed has to get another approval to add to quantitive easing as the last one was only kicked down the road until later this year as a temporary measure by Congress.
So I would say BAR's gold production later in a couple of months will be perfect timing given the macro perspective with the difficulty controlling inflation through an inability to raise interest rates. The only macro tool left seems to be exchange rates.
The update is sound, and an ideal time to top up should you wish to accumulate because the company is moving forward and not going backwards. The TA picture for BAR is false at the moment because volumes traded at different times of the day are not statistically relevant but serve another ulterior motive IMO.
BAR Price at posting:
2.6¢ Sentiment: Buy Disclosure: Held
