Ann: Response to ASX Price Query, page-9

Gold up too. I was expecting gold to head back up because the GDXJ (junior gold miners) closed just above its April closing high the night before last (blue arrow).
Then, last night gold increased 2.8% to $3382 and that pushed the GDXJ up by a much larger 6.3% with a big break out to new highs, both intraday and closing prices. The gold price hasn't even reached its record high yet suggesting the market might expect that is coming soon.




So gold up 2.8% and the GDXJ was up by 6.3% last night which was a large move but the larger surprise last night was silver which has recovered to just below its multi year record high after its 5.3% move.

This is a silver stock ETF which jumped over 6% last night to a new high for a big breakout so the market might be expecting silver to continue higher.






The junior silvers jumped by more than 7% last night but still have some catching up to do to hit April's highs. As long as silver holds most of last night's gains, they might do that over the next few days.




MTH has a lot of catching up to do. I'm guessing the sp would have jumped at least 7% today on the back of the silver price without any assays being released. Good results will help put the spotlight on it today so fingers crossed for above average grade assays. It would be great to get back up to last year's high. That move was helped with insto buying. A change of substantial holder notice showed Bank of Nova Skotia was buying right up to last years 80c highs. I think the long pull back resulted from short term traders jumping out after the insto buying was finished and then the silver price corrected to add to the selling. With silver back up and assays now increasing in frequency with two rigs operating and a big budget for drilling this year, that 80c high might be a reasonable near term target. It could move higher again with the expected JORC upgrade.