@robbo24
If only it was that easy as your maths above.....it would be great.
But in mining, especially in the Gold mining business there are many variables which will completely change your outlook.
Yes, from a long term perspective....If anyone is willing to see MOY from a long term perspective.....these prices are reasonable. However as Argonaut has mentioned (as well as Peter Cash has) the June Quarterly could see cost as high as 1500-1600 or more and other underground Capex expenditure...the cash balance on hand is likely to be less then the March quarter. September quarterly cost is also going to be higher.
According to the Production update and Quarterly report, higher production for March and DEC, lower production figures for June & September. Not to mention the plant upgrade.
From my little experience how much a company telecast before hand, the market always punishes more when the actual figures come out. Company has kept no secret about the upcoming higher cost quarterlies.
I commend Peter Cash for doing that.
I doubt it is Index selling and more so looks like profit taking or tax loss selling.
I am always wary of these Brokers putting Speculative BUY recommendations.
Most recent experience was in RMS & SLR.....when the price was 35-38 cents....no one was interested...broker said small LOM....high AISC ...etc etc.....little prospect. That was a great time to buy those dogs. Not when analyst are sure about it.
Now one after another analyst are projecting higher and higher targets.
My point is there is a risk of downside here for next few months, more so if the tax loss selling intensifies.
