SP6 Dec 2018 09:55
If you take the 'Cliff edge' precipitous-fall of last May out of the equation, that was when the set-back announcement was made, and reconnect the dots from there, yes we would still have been down in line with rest, but to the level of around 130p. The generalisation that all miners are down doesn't present a true picture. For a start, not all miners matched-up to the powerful fundamentals that Centamin displayed. Namely, No debt, un-hedged, cash-rich with positive free cash-flow. In other words, fundamentals to die for, and boy did we die, well, not quite maybe. But by my calcs. 130 is where we should be and where we would have been without that 'Killer announcement' in May.