Excerpt below from *s t o c k h e a d article this morningKaiser...

Excerpt below from *s t o c k h e a d article this morning

Kaiser Reef managing director Jonathan Downes shared some thoughts with us, expressing his belief that the ASX was essentially a fear-dominated market at this point.

“Most juniors don’t generate cash flow, so there’s a propensity in a tough time to not want to continue to finance an explorer’s hopes and dreams to become a producer,” he noted.

“And it is very much a function of people not having looked in detail and in our case realizing that we are actually producing but are valued at less than many explorers and certainly much less than many explorers in our region.

“I think to have a positive cash flow in a closed market world like right now is an exceptional strength and I think that’s going to really separate the explorers from the producers.”

“Gold is a major export from Australia, I guess there’s going to have a bit more discretion in a tough market about quality and those that really do have potential to enter into production,” Downes pointed out.

“Higher interest rates are not helping anyone. It is certainly increasing costs across the board but that impacts (near-term) producers more so than exploration companies.

“But I believe the once the selling is concluded and there’s some clear air, investors will come back into the gold space.”