We had already written up CMM as our Trade Idea this morning before a bid for gold player Vault Minerals (VAU) from Genesis Minerals (GMD) flashed across our screens. The bid trumps the previous approach from Regis Resources (RRL) putting VAU very much “in play” and the gold sector prime for more M&A activity. Hence, we may struggle to get set this morning.
- We are bullish towards CMM and the gold stocks at current levels, targeting an initial test of $16.
Trade Idea: Capricorn Metals Ltd (CMM) using a limit of $14.40, with stops at $13.10, around 8% risk.
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