investec broker update, page-9

What I did understand from Champs comments was that investec had a target price of 50 cents at the start of the year and during this time Champ was a willing participator in the upside discussion of value of over a dollar. Since then gold has hit news highs, goldone one have exceeded production figures and increased cash. Now this some broker has reduced te target price by 1 cent and all of a sudden champ ( who has sold most of his holdings) pops in - no upside - a shame.
Interetingly based on target price If the report was released on Friday it would be a buy as the cuurent price and target price ow more than 10 percent. The report was released when the price peaked. Don't want to attack Champ as I think his a very good poster, the comment was very odd, that's all.

Another intersting omission is the price the Chinese paid , I guess when they have a price target of 50 and the chinese paid 53 a week ago had to rationalize in their report.

As mentioned I Think the report is reasonable if one accepts what has been missed , or purposefully discounted, excluded or ignored. It also depends whether you are buying for current production or current production and current assets and future production. I know I am
In more than ME even though at spot even that asset from an NpV is worth 50 percent more than current shareprice.