NST finally embraced golds resilience on Thursday plus released a decent quarterly update prompting shares to rally 11% posting fresh 8-week highs in the process We remain overweight the Gold Sector with an initial target for NST of $11.50-12, or 20% higher i.e. just 2 more days at yesterday’s pace! Gold is finally regaining its position as an inflation hedge plus the local sector feels most definitely “under owned” as we enter 2022 i.e. if the overwhelming consensus is rising inflation and interest rates its understandable why investors have largely been ignoring precious metals.
MM remains bullish and long NST
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