market likes the results, page-3

Ayy OPT,

Yes alittle pop, on technical trading target of 2613 possible as weekly close above 2413 occurred last week......seems to be trading technically only and expect thing will break at some stage....

Looking forward / long term/ and following annoucement yesterday, company now making 0ne billion pa, making noises it plans to spend a further 5 bln in capex over five years to lift production to the previous 5 year target...................so basically everything planned to be made next five years assuming stable prices needs to be reinvested, ,,,,,,,,so they need to grow earnings sunstantially to pay shateholders.......i suppose thats why they are also making noises that they are considering expanding credit lines............company goin nowhere, needs capital at some stage.....just spent 2.5 bln to lift its production to this years 2.6ish million ounces but to develope to 3.5 million it expects to spend a further 5.5 bln,,,,,,so much for the purpose of the previous cap raising and oversubscribed placements.....target of 3.5 million was in the old plan, now we have the new plan for the same amount but with a further massive spend.......investors will eventually realise this like they did about the lihir deal............

Vix, volume are really low and each time this has occurred in the last few years the market has sold off and this time i think the market bulls cash is very weak, based soley on the expectation of qe as protection, trade safe..........

Thirty is of course possible , but i wont be holding the long side in the near term as i see the risks high and the company performance as poor considering previous plans and their future requirement to fund another 5.5 bln to lift production

Biggest worry for me, share prices in usa, many hitting all time or record multi year highs as the market volumes hit yearly lows,,,,,, its mid august not the 2 nd jan!......

Good luck mate