Reading about Bisha certainly does provide encouragement.As fo...

Reading about Bisha certainly does provide encouragement.

As fo CHN, I am a bit worried about the technical picture. Yes, we went sub 30c as expected. However, a double bottom at 25.5-26c appears to have formed and they rarely end trends. However, I still remember Andean Resources forming a double bottom around 45c in 2008 (yes, I was one of those who bought under 50c then) and it held. The double bottom here doesn't look too bad either and I think there is a reasonable chance it will hold (as spoken by a biased shareholder). I'd say we get at least a bounce up into the mid 30's beforehand. I'll then analyse more closely to see if I think new lows will be seen.

Long term this should prove a big winner. They'll probably mine their first gold when the pog is well above $2000. That also implies I don't think the mainstream media got it right calling the bursting of the gold bubble.

El Capo