Appreciate the reply mate, especially the thought provoking list...

Appreciate the reply mate, especially the thought provoking list of questions. Luck... patience, patience... F/A & T/A all have a part to play without a doubt, though I find my biggest challenge is not following my gut when red flags appear Not sure about you and Wassa, but I continue to refine my investing rules, which are slowly proving valuable due to simply not losing much capital anymore. I very strongly agree that trading over the past 1-2 years has been the best way to beat the market. Anyway, I digress

GOR - indeed, though I think whatever play they have for DEG may not go their way, just like with AOP. As DEGs asset might lead to the big end of town drowning out GOR. It amazes me that their board has been so spend heavy, achieved nothing, yet that $100-150m could have been dividends, or... a much larger stake of DEG. Though I suppose if they are pipped at the post, a $400m dividend would be quite a feast for shareholders.

Will gold price outpace costs? | yes... but not smoothly |
Will GOR play a hand in any future M&A as they are now banking huge profits, or will they sink it all into DEG? | All into DEG |
Will WGX buy a few struggling regional exploration plays? | 50/50 - either SPR or MEK, if... they follow what WB has been saying... more ounces now, U/G |
Will CMM develop Mt Gibson during these inflationary times or will they pivot? | Yes.. if anyone can, they can |
Will SLR and RMS buy another producing asset? | Yes... maybe SPR or PNR, but... maybe more in Cananda.. RMS - Yes.. SPR or Carosue Damn |
Will BGL ramp up meet their lofty expectations? | Yes... because they have spent an insane amount of capital on pre-production |
GMD operations, did they bight off more than they can chew? | Yes... and No... they have been very careful to keep expectations low. RED is next... |
RED should be an interesting one, can they continue to incrementally improve operations? | Yes... but... GMD & RF walks on water, so.. be be snapped up |
What will NEM's Australian focus be once they've consumed NCM? | You mean, further expansion into Australia? NCM seems enough to swallow |
What happens with SPR? Do they make it back into production or is a takeover imminent? | Another Never Never=T/O... no big discoveries, Yes production |
What does PRU do with their huge pile of cash? | They need to replace Sissingue/Edikan, with either WAF, TIE or something similar, plus.. pay a big Div |

I'd be interested to know what everyone else watching out for in FY24?
The small cap exploration part of the sector is bleeding out... any producers with cash are still being VERY careful, so... they keep bleeding out.
Interest rates unlikely to go higher. Price of oil... a big factor in all things. Most producers are simply not interested in building new projects, as the risk/reward is just not worth it, when compared to previous cycles, which would see such builds, not tap into the high gold price until must later on.
Dividends across the sector must increase, which... might see sentiment change.

For those interested, I found this post, the most interesting/prophetic I have read this year on HC (and... sums up my investing style, with a heavy focus on owning cash rich businesses).



Great discussion and appreciate all the replies.