I don't share Westpac's view. I tend to think this dip is a...

I don't share Westpac's view. I tend to think this dip is a buying opportunity for gold stocks. My general feeling is the Biden Administration is likely to be aggressive towards further deficit spending - in turn driving rapid growth in USA debt. And if that's true - this will be supportive of the gold price (and in turn pressure the US dollar). I see gold as a good 'risk/reward' bet at the current level.

Though from an individual stock level, I think PNR have got to sort out their JV partners and that relationship, it's holding back the stock from having bigger plans. It needs 100% ownership. Then it needs to upgrade the plant size to 2mtpa, and then it needs to aggressively push for a DFS that aims at 200koz per year.

I don't think the JV partners want to stump up $44.5 million, and until there is some clarity around what they intend to do, and how much it might cost PNR in any number of ways, then investors are rightly going to be cautious about this stock.

Gw