I defiantly feel its time to jump on this one as well:
- Despite US interest rates and the USD surging, Gold Prices are not too far from record highs (essentially at record highs in AUD).
- There has to be some sort of financial crisis develop somewhere in the world from the significant exchange rate movements that have occurred and the rapid increase in interest rates.
- It's hard to envision Gold not been a beneficiary of that turmoil.
And look at NCM:
- Despite (1) it's sitting at a 10 year low; and
- I note some forecasts floating about for NCM to trade at a 8x PE with a fully franked 5.1% yield in FY25 at this price (is this a high quality gold stock or a dodgy retailer??)
- The technicals are a screaming a buy, clearly broken the downtrend and been consolidating in a rectangle formation off its low ever since.
I've already got a variety of long calls and sold put options in NCM and have been building that exposure for months (thus technically I don't hold the stock right now), but I will (eventually) be converting that into a (very) long long stock positions because I think NCM is a screaming buy down here.![]()
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Long Newcrest!!, page-75
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