Did any of you guys notice that the Chinese have made a bid for Gold One.
THIS is significant.
Why?
Because it indicates that China wants to own gold production capacity as well as high cost gold in the ground.
Gues what else?
The US dollar is stuffed and the Yuan is going to be the next reserve currrecy.
The Chinese may ven want to partially back their currency with gold.
Perseus has 6m oz in the ground, is about to start production and has exploration upside in Ghana and Ivory Coast.
If you think Merrill Lynch is right, then sell out.
I suspect that they have a LARGE buy order that they need to fill and are simply publishing research designed to scare out weak holders.
Am I cynical?
You bet.
I have ridden the PRU wave up, down, up and once more down.
Will PRU be taken over?
It is a case of whether PRU become an agressor or someone elses dinner.
I hope that the Chinese or one of the majors decide to add reserves and production using large gold stock valuation multiples.
Hang on and/or buy more.
Unles the op costs are higher, recoveries lower or the price collapses, the stock will go higher as they ramp up production IMHO.
DYOR and GLTA
upgraded throughput, page-17
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Last
$2.41 |
Change
0.080(3.43%) |
Mkt cap ! $3.315B | |||
| Open | High | Low | Value | Volume |
| $2.40 | $2.42 | $2.35 | $7.956M | 3.332M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 67667 | $2.38 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.41 | 68938 | 4 |
View Market Depth
| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| PRU (ASX) Chart |