malbec ironstone extension looks promising , page-6

re: malbec ironstone (for gupper) Hi All

GTM's gold hedge is A$595 / oz I believe, Jeffd, so they're doing very nicely, especially with production returning grades 8 - 10% above forecasts according to the recent announcement.

I suspect the continued heavy selling is due to the following factors:
1) several million shares traded hands very cheaply last week and a degree of profit-taking by those who very sensibly exploited the situation is to be expected as the price now inches north.

2) a good many investors will be waiting for confirmation of Chariot's reopening before jumping back in - a very understandable and prudent decision despite the company's assurances that the subsidence was minor, the closure precautionary and the reopening imminent.

I doubled my holding during the plunge and will hold till at least the next Malbec assay results (barring a run too good to resist) but I fully understand those who prefer a less impetuous approach.

As I said in an earlier post, in the eyes of many investors I think the negatives of mine closure have temporarily outweighed GTM's many positives. The pendulum's positive momentum should increase upon the reopening of the Chariot mine and that is due any day now unless something untoward intervenes.

I hold buckets - and I hope the leaks are now plugged.

:) Gupper