The problem it has is that this year is going to be a particularly capital intensive one with Gora, exploration, taxation adustment etc, and of course the remainder of that horrendous hedge which will thankfully be extinguished by June/July.
So they are unlikely to have a decent positive cashflow this year, if any...not ideal for short term investment.
This should turn around mid CY2014, particularly after Gora starts producing.
This one is a patience game.
Of course this assumes any more capitulation in POG is limited...not a sure thing imo.
PErsonally I have only a small amount...I was looking at adding but now am instead focussing on finding oversold low-med cost producers that have a decent amount of gold production hedged at above the $1,600 level.
Cdchi1
TGZ Price at posting:
83.0¢ Sentiment: Hold Disclosure: Held
