I subscribe to Zeal and have stopped reading their rah rah stuff. Yeah I know Hamilton is much smarter than me etc, but he has been wrong on goldies for about 9 months so why take his stuff seriously? The markets are being driven by macro drivers and TA has difficulty capturing them as they can be unpredictable.
Sentiment will turn at some stage, but perhaps not until the second half of 2012 or early 2013, once the USD POG has consolidated some more and there are a few more quarters of high profits by the better producers.
At present takeover expectations may move some goldies.
There are very few winners out there in goldieland.
The investment in PIR may not turn out too well, unless Middlemass can sell the company, and the market may punish GRY for a perceived lack of focus.
loki
GRY Price at posting:
$1.07 Sentiment: Hold Disclosure: Not Held
