I enjoy the banter...all be some of it reflects poorly on its...

I enjoy the banter...all be some of it reflects poorly on its author. But I remain firm in the view that NST, at a PE of 48, is over-priced. NST does not have the fundamental earnings to support it's SP and enjoys much of its fortune on the sheer luck that the POG is on a run and they hang onto its coat-tails. Gold is a volatile metal and I have enough grey hairs to have seen it swing in both directions.

I know many of you will talk of trailing PEs etc to talk down the PE of 48. But actuals are what count - just like money in the bank. And the money in NSTs account is mostly bank borrowings.

I have been a supporter of NST through the rapid growth period - 20c to $15 is mind-blowing. But that was the last decade. There are no future multiple growth factors in the NST SP and their dividends are low. Stocks are there to make money out of, not to fall in love with. Yes, I do advocate TBR - because they are embarking on a steep upwards curve. TBR has a PE of 28, has no borrowings, is unhedged and just announces a new maiden resource of 1.8M oz (with more to come). This is just my opinion, I get it wrong plenty of the time...but the scales tip just on the favourable side!