Thinking about the PB presentation, if I've got it right he was speaking on 3 April and said that the resource upgrade would be out "early next quarter".
Does that push it out to July, or did he just get confused with jet lag and timezones (probably not a timezone issue)?
So maybe we won't get the resource upgrade for a while yet.
The way I see it for our take off to the stratosphere we need 3 things to align: A* Gold price strength B* significant resource upgrade C* quarter after quarter of solid financial performance
On A) we are in weakness at the moment and it is hard to say when we will see strength return ... could be a week, a month, or it could be 6 months. I'm confident it will happen as Jim Sinclair has pointed out recent gold price weakness has come through massive short sales in the futures market.
On B) at the most 3 months, possible 3 weeks (though this seems less likely to me now)
On C) The financial performance for the March quarter should be good and an improvement on Dec
So we don't even have a Meatloaf song at 1 out 3. That said I remain loaded to the gunnells as it can't be that long until A, B and C align and I would hate to be out of this stock at the moment.
The biggest downside risk I see is either large market selloff (we will go with it) or significantly more gold price weakness.
TRY Price at posting:
$4.55 Sentiment: Hold Disclosure: Held
