Gold is A$3,000/oz and enterprise values of gold producers are 25% below June 2020 levels. Firm production guidance and demonstration of cost control in the March 2023 quarter adds confidence to our support of the gold sector. We expect margins above total costs to breach 25% in the June quarter if the gold price holds and costs remain contained. Based on past gold sector price premiums we see potential for up to 50% gains in select gold company share prices in coming months.
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