Thursday saw gold miner EMR pop +6.4%, on triple its 20-day average volume, but there was no fresh news; however, a very low All-In Sustaining Cost (AISC) likely to be below $A1500 when it next reports certainly helps. We remain bullish on the gold sector, and after a $US35/oz pullback by the precious metal on Wednesday, it was encouraging to see many of the leading sector names still managing to eke out gains. Following last night’s ~$US50 pop to new highs by gold, EMR looks set to test its all-time high in the coming session (s).
- We are bullish on EMR and target a break of $4.50 in the coming months, which would be 8-10% higher.
MM is bullish toward EMR
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