Yes, indeed, but I think upper price is still going to be capped in the mid 20s until significant news about PFA & progress towards mining permit are provided to the market. Another rate hike by the RBA, possible before end of year, may also add a bit of drag to the SP. Hopefully I am wrong & we push further upwards in the meantime - which may be on the cards with what seems to be a Santa rally forming & lofty gold price.
Meanwhile, 'gale force' tailwinds could be forming next year if gold pushes through USD2K & is sustained. This would be a master synergy to support the rapid ascendance of the SP north of 35c (in my opinion), if significant milestones are reached that indicate government of Guinea's granting of the permit towards mid next year. Gold price will have an increasing impact on PDI as it transitions towards the mine development phase.
This morning, gold bull Angus Geddes (Fat Prophets), wrote:
(20min delay)