Forgive me for two threads in 24h, but; is the Brazilian gold price breaking out to all time highs?
1. Go to *****.com
2. Set the currency to BRL
3. Flick through the duration up to 10 years.
First it was Venezuala, now the record deval in Argentina. The last time Argentinas currency fell this much in 1998-2002 the Brazilian Real fell 75%. The chart tells me it's going to 4 to the USD. On that basis that means OGXs monthly all in cost will be only US$500k. Remember 95% of OGX's costs are in Brazilian Real while they sell in Brazilian reals into what is a rising gold price. So what; this means massive margin expansion at 1,000 ounces per months over 60+% and even higher at 2,000 ounces. Do your all in calculations on that.
Right now I want to be in gold producing countries like Argentina, Turkey and Brazil and although, its my home ground, not in Australia and definitely not the US where the price is stuck at 1310 per ounce.
The therefore: Great time for OGX, with HM3 and the Cascavel plant coming online and to be a high grade producer. I believe we are so close to a major breakout. OGX is perfectly positioned with all their cash held in Australian dollars.
You won't get a DYOR from me, just "sell if you dare"
Lets talk about the effects of currencies which is real news.
OGX Price at posting:
8.1¢ Sentiment: Buy Disclosure: Held
