Macquarie Bank initiates coverage. The key word being "initiates". Ie its not like they have been covering this for years and feel obliged to update the price target. They see the stock as cheap and the catalyst for price increase being the production start up at Murchison due mid feb and ongoing rampup to 400kozpa.
Now if we can just get the gold price up through $1680, then 1700 resistance we may see a turnaround in the SP.
Hopefully some more political trouble will bubble out of Europe. Maybe polls showing Berlusconi has a chance of re-election and a proposal for Italy to drop out of the EU would put gold into orbit.
