PRX 0.00% 0.4¢ prodigy gold nl

Another week without any news from ABU about their new Gold...

  1. 1,669 Posts.
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    Another week without any news from ABU about their new Gold processing plant, drill results or their plans for the next month or so. The wet season approaches!

    I'm getting restless, like a few other shareholders.

    It is interesting to see what Gold is going to do?

    One issue that has perplexed me for a number of months now, are the posts from people who are trying to make predictions about the future of the Aussie$, the POG and the American economy. Over the last 12 months there have been many posts in this forum, multiple other forums, plus the predictions from "so called" international economic experts that:
    1. The Aussie $ is going to fall to 80c
    2. The POG is going to go up above $1400
    3. The US economy is going to crash

    Despite these posters looking intensely at the charts, doing research and listening to expert after expert on you tube or wherever, all of these predictions have been wrong!

    Some posters have been predicting the AUD falling to 80c, month after month, but it hasn't happened. Sure, that is the price that would benefit our exports, our mining industry and many other businesses, but it hasn't happened yet. The POG is so hard to predict. There are many factors involved, including deliberate manipulation of the price. So predictions on how low Gold will go are only wild guesses, and when it breaks through the $1400 barrier, could be soon or an eternity away. The US economy is being held together and China's massive debt isn't effecting market confidence at the moment.

    The vast majority of Gold stocks are currently priced low compared to their highs and their share prices are in limbo, unless they have major new announcements to make. Gold is still out of favour at the present time.

    So it will of interest to see how ABU's sp will go when mining begins and the money starts to roll in. I'm holding out for 90c+ but it may take a long time to get there, especially if the POG remains below $1300. I think those predicting a sp of $1.50 are very optimistic, unless ABU has some major new Gold finds up their sleeve.

    But we've seen how KGL has gone from 2c to 40c over the last 12 months and several other Gold and metal stocks have had rises of 400%+.

    Hopefully ABU has further good news to announce and production will begin soon, in fact the sooner the better.

    It has been a long wait for the ABU faithful. Hopefully that wait will be justified with a significant re-rating of the sp by the market!
    Last edited by bruce13: 05/09/14
 
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