Bearish Target of 142p… Bullish Target of ???21 Oct 2020 14:02
Hello, I’ve been buying in since the placing announcement last week. Having watched this share make its steep rise from the 95p to 158p I thought I’d missed my chance to buy but have now accumulated a decent sized holding at 118p.
My first target here is 142p. I see this as my bearish target based upon the £77m market cap before the placing divided by total shares in issues after the placing of 54m shares. The £77m market cap was based on current discovered finds, gold price of $1,900/oz and the anticipated first pour date as at end on November. So, my minimum target is 20% profit but the upside to that dependant on new discoveries and an anticipated gold price above $2,000 could be very much above this. I am aware of the SP Angel broker target of 182p which would be very tasty indeed.
Either way I’m fortunate to be here…