Agree - kind of perverse that the very thing that injected life back into the stock (ie Goro) is now the same thing that is kind of holding it back.
I’m also keeping an eye on the local politics in New Caledonia via rnz.co.nz (then click on the ‘Pacific’ tab) I have worked in this kind of environment and have some understanding of the local mindset. Many small mining communities have seen the foreigners come and go and at the end of it are left with nothing but scarred landscapes and polluted waterways. The indigenous New Caledonians are understandably focused on what is best for them and the future generations of their families. To be dismissive of that is death for this project. I hope the NCZ boys are doing some win-win deals because that’s the only way this project will succeed.
I’m fairly heavily invested and sitting tight - not buying - not selling - have enough skin in this game for now I reckon but am quietly pleased with the escalation of the zinc price and quietly hopeful the Goro deal gets up.
NCZ Price at posting:
18.5¢ Sentiment: Hold Disclosure: Held
