John EmbryThistle MiningTHT.TOBUY ON WEAKNESSNov 18, 2003
South African Rand is overvalued putting companies in this country under pressure. Thinks it should survive. Raising money. Risk/reward is in your favour if you buy at 0.40¢.
A high-cost operation with some debt so they got into some financial difficulties. The Rand has hurt them. A pure speculation on higher gold prices and lower Rand.
Had some operational difficulties and have missed some debt payments. A high cost operation in South Africa and with the Rand being strong it is a problematic stock.
Has had a very rough ride. Has been in a long downtrend. They have production, but are based in South Africa and the strong rand has hurt them. Interesting to nibble on. Speculative.
A classic opportunity if 1) gold prices go up materially and 2) the South African rand is going to start weakening. Feels they will weather the storm. Speculative.
The high price of the Rand has been a problem. The pattern that is forming indicates it may be worth another look. There are some positive divergences.
Getting beaten up because of the level of the South African rand, which has risen faster than the price of gold. Have good prospects in the Philippines. Good price.