PXG had a nice set of drill results released today JB. Market has hardly blinked though. Think these guys are very good value here.
Yes just shows how far from the market attention the likes of PXG has gone ...I remember the days when PXG would have moved 5-10% on those results and be priced well north of 30c
Badly need to see PXG in production .....or the PM prices to boom
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
Been buying a few goldies today, namely TRY & MLX.
TRY has been absolutely pounded, halved in value this quarter.
The current quarter of mining should be a good results as they removed a lot of waste ore last quarter & we should see the benefit of that in the current.
Also just got finance for their new mine in Guyana.
POG dependent obviously, but I could see these guys easily getting back to 80c or higher if we see a sentiment shift in gold miners.
Metalsx is an old favorite of mine. I've known Cooky & crew for years & they are one of the better operators in the business especially when it comes to gold. He's been bogged down with tin assets for a number of years, but has recently re-entered gold production with 150k prod p.a.
Aussie gold is up A$160 in the last month!
They also acquired a new project & just announced a 2M ounce reserve & 8M ounce resource!
All at reasonable grade.
They have been hammered a bit due to a share consolidation & going ex divi today.
I saw that as an opportunity to buy in.
Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.
Yes some shocking prices in the ASX Gold producer sector which is quite out of step with the high AUD Gold price $1472 and the much lower Energy costs ...looking forward to the Qtr reports..
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
Hey Snapiti, glad u have found it useful. Take a look at MLX as well, they had a few difficult years sorting out their tin assets but the CEO Peter Cook is really a gold guy & has built several very good gold companies over the years & is now expanding its gold portfolio.
Its certainly not an area of the market for the faint hearted.
Good luck!
Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.
NST and MLX two of the few that pay divs too i believe. Im hearing BDR is mining very hi grade at the mo(just what I've been reading around the traps from people i rate).
EVN pay a dividend as well. To be honest I think its a waste of capital. With huge volatility in these stocks a 1 to 2% divi is meaningless imo.
What do you mean by PE outlook for MLX? Who's outlook? The lower Aussie dollar will have quite a big positive impact on both the gold & tin operations.
Tin has also held up well compared to other base metals. MOX should he in the position to self fund the development of their Murchison gold assets as well, however I wouldn't be surprised to see them take on some debt.
Re BDR, yes that's my understanding as well, it should be a quarter for them. There is also a substantial short position in the stock which I like.
Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.
I think today's move may have been a little exaggerated by the gold indices rebalancing that has been going on.
In saying that they are also horribly oversold so a correction was overdue imo particularly as the Aussie has been smashed.
BDR yet to make a meaningful move, but I think its only a matter of time.
Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.
Norton Gold Fields Limited (ASX:NGF) announces that it has received written notice from the Foreign Investment Review Board that there are no objections to its acquisition of a relevant interest of 10.77% in Phoenix Gold Limited (ASX:PXG) (please see ASX announcements dated 9 December and 11 December 2014), thereby satisfying the condition precedent of the underlying agreement...
PXG should have a big 2015 year as long as AUD gold keeps strong .....yet another micro cap well undervalued ....crazy to think PXG was priced 200% higher back when it had half the Gold resource and nil NGF J.V contract ...the GOLD price was only a few dollars higher too,,,
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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Originally Posted by Daytr
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