It does sound optimistic but it could happen if sentiment changes a bit.
Looking at the NCM v GOLD curves on the ASX for the last 10 years and it seems that NCM is normally trading at a premium of about 13 to 1.4 of the gold price (GFC excluded). The divergence of late has really been pretty extreme (although understandable considering the under performance of NCM management).
If gold can make a move through 1800, NCM can start delivering a bit, the last report seemed to be on the right track I don't think it's out of the question that the NCM curve will catch up to the gold curve by the end of the year (4 months).
That will see a price of around 35-40 dollars. It does move very fast after all when it gets going.
If we have a big QE3 then it may really shoot up a lot.
I got it at around 25 so I'm not really making anything on it yet.
Hopefully it moves soon.
Twinsen
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