Post by
merlin991 on Feb 27, 2021 5:23pm
Gold price is the only thing that counts for K92
Last year when Barrick got turfed from Porgera there was political concern. However there was justified reasons for PNG action. Barrick and Placer had behaved outrageously over the years. Environmental damage, abuses by goons on locals hired by Barrick and outright theft of gold. I won't recount it all here. You can research yourself. In the end Barrick came back to the table and a deal is being worked out. The K92 story is quite different. Lewins has developed good relationships with locals and their ESG policies is paying off. That risk is gone. Mr Market can decide if their is a PNG discount. Gold has tumbled and K92 has reacted. Next week and subsequently yield curve control by the Feds will return us to the negative long bond. Gold will react sharply and head to 2k fast. K92 is heading to 8+ within the next few weeks At this stage load up on your favorite miners. Strong low cost producers with great growth horizons. K92 fits that bill very well.
Comment by
deepthinker63 on Feb 27, 2021 9:31pm
Well, I hope you're correct. I hope Western firms are improving their behavior. This will provide a stark contrast to the Chinese, who call their Africa holdings, "the colonies."
Comment by
merlin991 on Feb 28, 2021 12:00am
Unlike the 'colonies' of Europeans where butchery and genocide was common place? South Africa still has apartheid in living memory. I don't believe that was the Chinese?