Great recovery for gold prices - yet here we are - nowhere!
On 5 Dec 2023 when EVN was placed into a trading halt pending the announcement of North Parkes acquisition and subsequent capital raise, the EVN share price was $4.14, the POG in USD was $2,018 and exchange rate to AUD was 0.655 ($3,081 gold price).
Closing share price today (1 Mar 2024) was $2.96, the POG in USD as I write is $2,056 and exchange rate to AUD at 0.6506 ($3,160 gold price)
We now have a better gold price, yet the EVN share price has fallen 39.9% since the announcement and capital raise (in 3 months!). What is it about this team at EVN that can't seem to gain the confidence of institutional investors in such favourable conditions? Can't blame manipulation of the gold price as it's better than it was when the announcement was made. This is all about EVN's board/management and their failure to deliver on the promises made in my view - so what is going to change to re-build confidence in EVN is my question?
Just one frustrated investor looking for a positive sign of change as I'm tired of reading the same old PowerPoint slides from yet another conference
EVN Price at posting:
$2.96 Sentiment: Hold Disclosure: Held
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