During his first tenure, gold price went from ~$1,200/oz...

During his first tenure, gold price went from ~$1,200/oz to~$1,800/oz i.e. a rise of 50%. If he repeats his "performance" for his second tenure, gold price will be heading towards ~USD$4,000/oz. If exchange rate remains the same, we shall be looking at ~AUD$6,500/oz by end of 2028. Assuming GMD AISC remains at AUD$2,000/oz (projection is AUD$1,600/oz for FY29) and production is 300Koz, we will be looking at ~AUD$4,500/oz of profit or AUD$1.35B or ~ $1.00 per share (before tax) for FY29.

Assuming average PE for gold mining stocks is 20, then we can expect GMD share price to be ~$15 (after tax).

Will gold price head towards USD$4,000/oz in the coming years? With all the uncertainties, I think gold price will head a lot higher than USD$4,000/oz.

One of the key factor in my opinion is what Elon is going to do under the DOGE program. If he aggressively trim $2T of government expenditure, he is likley to plunge the US economy into recession and the collapse of the stock market will certainly follows. This will then kick-start the "great asset re-allocation" from stock into gold. I shall leave it to your imagination on how far gold price will go!

GLTA