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    Genesis Minerals

    Hi Team It seems quite a while since you last reviewed GMD ( I may have missed one) but as with some other gold names the stock is powering up to the target price so I wondered if you would be likely to reassess your opinion in the light of recent action. Is it time to take some money off the table ( not personal advice) as you have done with some other stocks that have run well? I have a similar (although very different background) question around MSB which has been a volatile beast over the last few years. Thanks for you insights. Much appreciated. Peter

    Answer

    Hi Peter,

    We’re bullish Gold over the medium term and GMD has been a good way to play that view. Their track record is solid and we like their future prospects in the Leonora District in Western Australia, where they’ve increased their exposure through St Barbara. We remain bullish on ~$2bn GMD even after its solid run, although like anything, it’s important to always maintain appropriate weightings to any individual position in a portfolio, particularly at the more junior end of the market.

    Volatility in MSB is an understatement! From $5 to 30c and now at 86c. We don’t have a focus in the smaller biotech area, the outcomes are simply too binary for us – anything could happen. If we held a stock like this that nearly triples from the low, we would generally look too trim.

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    Genesis Minerals (GMD)
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