Does MM like Gold @ $US2,000/oz?
James, I notice your rationale of selling OZL as the copper price has hit your target. I have been holding NST & WGX with a view that gold would head back to US$2k. Now it has done, do you think it prudent to move out of the gold miners, or would you continue to hold for exposure for a leg higher now it seems to have broken out of it's range? They still seem somewhat undervalued on a P/E ratio. I also like the growth prospects of both longer term. Also, your perspective. Surely MFG is oversold & undervalued, even if FUM continue to fall? Will all holders be issued options expiry of 5 years at a strike price of $35 at a 1:8 ratio. Do you think they will do a on market buy back? I still like the business. With thanks, Bernie
