Chart - TA, page-3698

from Today's $tockhead
All that glitters?

The phrase is actually “all that glisters is not gold”. But gold is one of the sectors looking pretty alright in a potentially recessionary world.
“So gold is still one sector that we’re not bullish on but we’re not negative on,” Sala Tenna says.
“What we do see is that there is some very good value, so even though the gold price is hard to call, and we’re sort of neutral on gold price, we are bullish on some gold stocks specifically because we do think the market’s missed them for whatever reason.”
This is one area where Sala Tenna sees value in companies with smaller to mid-cap exposure.
“We think that Tietto (ASX:TIE) is an absolute standout,” he said.
Tietto recently opened the 3Moz plus Abujar mine in Cote d’Ivoire.
“We think that they’ve done a great job of bringing that plant into production, and that it’s only a matter of time before they’ll start to print some very, very serious cash numbers.
“So there’s an example from the gold space.
“Also in the gold space, we’re very bullish on De Grey (ASXEG).
“We don’t understand how it doesn’t get taken out at some stage.”
While De Grey and Tietto are relatively common stock picks for gold watchers, Sala Tenna sees value in other places as well.
“If you want to go to the really small end of the gold space I think after the Pantoro-Tulla merger we think that Pantoro (ASXNR) at seven cents is just too cheap,” he said.
“I’m not saying it’s a high quality company, but that market cap ($330m) for a 100,000oz producer here in Australia with a pathway to increase it and a big resource in a tier 1 jurisdiction – Norseman – I would think that Pantoro’s too cheap.”