I had a quick look back at some 2008 first gold pours, and have listed below the approximate share price movements in the week or so after each pour.
Of course Apex is a different company with different fundamentals and there are different "current" circumstances at play, from the POG to the value of the Aussie dollar, not to mention the global financial crisis.
Apr 30 2008 ASX - SLR Silver Lake $0.33 to $0.41
Apr 29 2008 ASX - FML Focus $0.057 to $0.070
May 13 2008 ASX - DIO Diora $1.10 to $1.37
Jul 08 2008 ASX - AVO Avoca $2.11 to $2.38
Oct 27 2008 ASX - SGX Sino Gold $2.50 to $3.73
The market rightly perceives a monumental difference between explorers and producers, and as Davo pointed out, there are numerous sand farmers languishing in obscurity now that investors no longer place any value on promises or vague projections.
So how will the market feel about a couple of 1000 ounce ingots being shown off in the next AXM announcement? Pretty good I'd say. Regardless of the costs that need to be subtracted, there is something about a million dollar brick that gets the pulse racing. Knowing that Wiluna has about 380 more "bricks" scheduled over the next four years doesn't hurt either.
Coincidentally, of the above five gold pours, two were announced on monday, two on tuesday and one on a wednesday.(Sadly irrelevant, but who cares!)
Best wishes to all for Christmas, and let's hope there is a .pdf from AXM under our collective tree.
John
AXM Price at posting:
38.0¢ Sentiment: Buy Disclosure: Held
