The situation with POG is looking more and more like I/O a while back
No one wanted to touch MGX, FMG or AGO on the bottom and were contemplating administration only to see them 2-4 bag in under a year
Gold is no different, anyone selling now is foolhardy IMO
Time to sell was $1,900, $1600 and be break of support after Goldman called it a short - not now
Any lower and it is below the cash costs of most majors and unsustainable, therefore supply dies and demand rockets
Anyone selling SOC at 18c after potentially uncovering up to 4.6Mozs in pipe 1, with 5 3DIP targets to follow up, high grade at Castor and the $21M JV moving to contract drilling needs to rethink their trading style
They have hit some real home runs the past few months, despite the price
The rerate will come, patient punters will be the ones who benefit and those that do their homework
what went wrong ?, page-127
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