The Goode stuff. PURE SPECULATION: Robin Bromby | August 24,...

The Goode stuff.

PURE SPECULATION: Robin Bromby | August 24, 2009
Article from: The Australian.

KEITH Goode, once senior gold analyst at Bell Securities and now running his own show at Eagle Research, is always a man worth listening to. So we did.

He sent his clients a post-Diggers & Dealers review, which offered these company snapshots of the chat picked up during that week in Kalgoorlie:

The weak share price at Apex Minerals (AXM) was seen as being due to a combination of delays at its Wiluna project, the departure of operations director Glenn Jardine and "perceived poor handling" of the latest raising. Goode says there is also some worry that Wiluna is going to claim yet another company scalp.

He thought St Barbara (SBM) still seemed to be struggling, a perception fed by the company's emphasis that the market's focus should be on 2012. Of Mirabela Nickel (MBN) which is developing a mine in Brazil, Goode came away thinking about the capital cost being much higher than expected, and he suspects the underground production targets are ambitious. "As for violarite (which requires different metallurgy than nickel) and recoveries, we'll have to wait and see," he added.

In terms of performance, Goode saw gold newcomer Silver Lake (SLR) as the stand-out at Diggers, followed by Avoca Resources (AVO).