Hi holders good news very quickly falls in-between the cracks faster then you can blink when markets behavior is as chaotic as it is. We can't rule out this recession we seem to be heading towards could have some duration. But PNA and their management just keep on keeping on. that why PNA will shoot north in a huge hurry in my opinion when this mess is somehow some way worked through.
Another good announcement regarding Phu Kham - just the extra 7,500oz of gold per annum is worth ~$11.25m using a conservative price of $1500 per oz (doesn't matter whether we use $US or $AUD any more)
An interesting spin on gold at the moment from the guru (warning guru being Jim Sinclair you have to approach him with caution because sometimes he's way over the top but most of what he says AND DOES!!! is spot on) is that $US1,600 per oz is acting as a magnet in both North and South poles. If it falls through 1600 (to ~1525) then the magnet is dragging it back up and if it shoots above 1600 (to ~1675) then the magnet is pulling it back down so we have a massive 150 trading range which is being tested at both ends in the current volatile economic climate.
I'm very confident that gold will be very kind to PNA.
PNA Price at posting:
$2.71 Sentiment: Hold Disclosure: Held
