A bit of panic earlier this week. I think the SP will steady from here and move higher sometime this year. As DR has mentioned in previous presentations, there is no rhyme or reason when the rerate occurs. Sometimes it’s on finalisation of project funding, when construction begins, during construction, on first gold pour or on ramp up. All I know is that it’s going to happen during the next 12-15 months.
Similarly, I think the gold price will rerate sometime this year too. Although nominal yields have increased, expected real yields have decreased and the price of gold should catch up. I’m also hoping that iron prices will reduce in the second half of this year bringing the AUD down with it to add the icing on the cake.
GLTAH
A bit of panic earlier this week. I think the SP will steady...
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