tcfGold maybe off from highs, but general sentiment is that it...

tcf

Gold maybe off from highs, but general sentiment is that it has had its bottom. Consolidating now at 1400 the view is it looks like moving to 1500 in the next couple of months. I don't see anyone spruiking 1600, but in terms of sentiment the evidence I can see it has turned.

IDC may be down because of the previous exit from gold, but I don't think that will hold it back if the news is good in the next 4 weeks.

Small CR may mean going back for more earlier, but would you rather have a larger raising now at 5c, and remember this raising was at a premium because it was smaller, or after the JORC upgrade which Steve Promnitz and the larger shareholders obvious agree is going to increase the share price.

In terms of SP and his team, I think they have done a great job. I agree he needs to answer the hard question, however I believe he holds up well when he does. I think the questions he gets asked behind closed doors must get good answers as well because as it has been stated before, the larger holders of IDC would not continue to provide the cash IDC needs if they didn't believe they would be getting a return. And on that point, we should remember that they were paying 20c & 30c per share previously, so their averages would be well above the 7c per share they just forked out.

BT