Aussie gold: Recalibrating portfolios, increasing spending
Headwinds from labour shortages and inflation have made 2021 performance lacklustre, but factors that usually favour gold, such as inflation and geopolitical risk, are clearly on the rise. Growth capital expenditure is set to more than double the rates of a few years ago at ~US$375/oz in FY22 in order to satisfy investors. David Radclyffe’s preferred exposure to Aussie gold is through Northern Star Resources and Evolution Mining (recently upgraded to BUY), whilst St Barbara falls in last place as difficult choices lay ahead.
Edition: 128
- 04 February, 2022