fortunes to rise with pog?

Ironic as it sounds for a producer with its first 75,000 onces of forward gold sales prudently hedged at A$595 / oz, GTM's share price often seems to move broadly in tandem with the POG. With the POG gradually decoupling from its see-saw relationship with the US dollar and nudging the US$400 mark again, we may see the market spotlight falling once more on small gold producers with good prospects like GTM.

With gold production exceeding forecasts and extraction costs reduced by A$30 / oz due to superior stoping methods, GTM should have a nice set of figures to present to long-suffering holders in its next quarterly.

Option holders will be hoping for further good drill results and a resource upgrade before exercise date and - given the massive cash injection their exercise would provide to the company - one would imagine management will do all that is humanly possible to see option holders over the line.

While daytraders have played havoc with the SP before and the sell depth above 8.5 cents remains daunting, I am hopeful that a return to gold bullishness generally should see a resurgence in GTM's fortunes.

Prospective investors should be aware that the company has a lot of shares issued but also that it is proving itself capable of beating forecasts on ore grades, ounces mined and extraction costs. There is also considerable exploration upside in GTM's Tennant Creek prospects.

I hold stock, no options so seek independent advice and conduct your own research.

Gupper.