This is exactly what happened in 2016, gold initially sold off, money rotated into the wider market, strong USD. The good news is that POG was up approx. 50% by the end of his term. If repeated, we could see a USD price of gold at $4,000 oz. in 4 yrs time. At current exchange rates that would yield $6,000 an ounce in AUD. The other good news is that an interest rate cut in the US is likely later in the week, which is also positive for POG.
Just for the dreamers, and those playing the long game…. At 2,000,000 ounces X $6,000oz. = AUD$12Billion in the ground. At 6,000,000 ounces (Nick Jolly possible ozs remark at latest presentation) X $6,000 = AUD$36Billion in the ground.
DYOR, sincerely hope they don’t give this company away cheaply because the 1km step out holes conducted to date suggest these tenements will be mined for twenty years plus.
SPR Price at posting:
$1.50 Sentiment: Buy Disclosure: Held
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