Allied Gold will bounce back I reckon
I suspect that all this negative action is a storm in a teacup. So the costs of the ore conveyors or other equipment might even double - but all mining companies are being exposed to higher overheads from fuel to transport to refining to marketing - usually referred to as inflation.
Allied Gold looks like another potential Lihir to me and I am holding a boatload.
Why was there a trading halt at all? Just to announce that costs were going to rise and a new mining strategy is required? Maybe it's a bear raid - someone trying to get in on the ground floor at rock bottom prices.
And for some reason the whole gold market is being spooked at the moment for no obvious reason - the fundamentals have not changed. Gold is on a long term uptrend while the US dollar looks like crashing.
I'll be buying more if the prices remain less than 40c.
will bounce back i reckon
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Last
$33.67 |
Change
0.570(1.72%) |
Mkt cap ! $8.023B | |||
| Open | High | Low | Value | Volume |
| $33.62 | $34.01 | $33.60 | $25.32M | 751.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1868 | $33.65 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $33.68 | 603 | 1 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| ALD (ASX) Chart |