Gold retracement? Gold equities are likely not going up now as there is a concern for a gold price retracement. Seems as if the markets are pricing in a retracement.
I wouldn't be surprised at these rapid level increases for POG although mark my words, the full increase in prices will adjust when we eventually see Q3 numbers at gold sale prices north of 2K !
As a ballpark estimate:
Very rough and conservative:
Gold sale price of $1950 USD for Q3 - AISC of $1050 USD * 32 000 Oz sold = 28.8 million in profit for Q3.
Any increase in average selling prise and lowering of AISC with more ounces produced will garner a much higher profit margin.
ROXG may be able to pay off the construction of the new mine in one year if this keeps up (along with cash reserves) !
Good luck all,
sb