Just took a trade again this morning in IAU at .38cents.
I had previously exited with a 40% gain and have now taken another 50,000 shares, looking for it to test 40cents.
Resistance last year, May 08 was 40 cents and it failed at this point and fell back to below 10 cents. This year the company is in a far better position with no debt, no hedging, its divested itself of dodgy south american high cost tenements, production at the Paulsen mine continues to be on track with possibly even further extension of mining life to come.
Its Tujuh Bukit project in East Java I feel is not reflected in the current share price, the full potential of this project is yet to be confirmed, we know its multi million ounces of gold but how big still needs to be confirmed.
My intention was to hang back and see how the POG developed but the more I delve into this company the more assured I am if it breaking through 40 cents and moving towards a dollar.
Lets see how we travel.