"Valuations are another problem. Take Saracen Mineral Holdings. This company has just produced a first-half profit of $34.6 million, after reviving the Carosue Dam mine in Western Australia, part of the former Sons of Gwalia operations. When the profit was announced, the market yawned. Here is a very profitable gold producer with stock selling at around 76c yesterday and capitalised at just $384m.
If Saracen were listed in Canada instead, its valuation would probably be double that."
Now everyone knows. Shares or a company what to buy. Hopefully it will at SP higher than now.. A$ up YEN down. Things in the world a little more settled to get money into Australia but not too bad they all run to the USD. So do you but Au or Ag with large preniums or wait for investors to see reason and buy shares. I suspect most think the precious metal thing is a bubble and want to able to rapidly liquidate EFTs.
SAR Price at posting:
74.0¢ Sentiment: Hold Disclosure: Held
