This is only beginning...On its way to Zero !!Sold out of all my gold stocks first thing this morning. The dead cat bounce in Gold is over. Some big events have happened this week which IMO are going to drive gold prices below $1000 and even upto 700/oz.
This stock is going back to revisit its all time lows and then go lower than that. Once gold goes below $1000, TGZ EV will be effectively Zero. I think eventually this company goes bankrupt and the liquidators sell the assets to a bigger rival. The majors know that and will wait out for that final outcome.
Regarding the PP at 1.05, that is guaranteed to fail. Underwriters will take the loss of a break up fee and walk away from this, if it is to their benefit. Mimran will not want to buy shares at 1.05 when the share price is now going towards 30 cents in a rush !!. I won't be surprised if they are liquidating their positions en masse.
Gold story is over now for the next few decades. Indian demand is all but gone forever as that country is enetring its own dark ages. They have been the biggest buyers all these years and will be turning to net sellers very soon. Actually, they might be the ones who have started this carnage in the gold market.