Highlights from Mali News- So, read through the whole "news" again and here's the gist of it.
- At this point, only exploration licenses are being reviewed. Producers are not impacted by this review.
- All producers, including Randgold, Anglogold, Endeavour, etc, etc.. will be audited for cash costs reporting to ascertain that cash costs are not being inflated. Reason.., some producers have been reporting cash costs around 1300/oz to avoid paying the due tax/royalty to the Government. This audit will be conducted by an independent panel of mining experts. (EDV's cash cost reporting is already on the low side, which works in their favour).
- If EDV share price does lag in view of this news, while at the same time, Gold Price is marching towards 1400 and higher, this in my opinion, will create a great "opportunity" to buy some more of EDV as they are, most likely, not going to be impacted at all by this audit.
- However, I doubt EDV will come down as the "Market" is smarter than any individual investor and technically EDV is poised to go over a $, even with Gold price at 1300- 1320 range.
GLTA.