By Chris Bailey of Financial Orbit | Friday 7 November 2014
Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Thursday and the first part of Friday kind of went well for some of the shares I have discussed on these pages. Randgold Resources (RRS) proved again why it is really the only larger cap gold company to worry about. Rising production? Tick. Cash costs below US$700/ounce? Tick. Ungeared balance sheet? Tick. High reserve grade and exploration potential? Tick. It is good to see the shares back above the £40 level again – and I think they have much further to go. Gold shares are horribly out-of-favour but when you have a company with the above attributes and who only build and develop mines from the perspective of US$1000/ounce gold you have a buffer. Good news too that ebola has had no impact in the areas of Africa they are mining in. Buy any dip.
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