AurionGold

By Intelligent Investor · 31 Jul 2002

By Intelligent Investor ·
31 Jul 2002

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AurionGold Limited - AOR

Current price

n/a

Price at review

$3.07 at (31 July 2002)

All Prices are in AUD ($)

The gold price has been all over the place and so have the share prices of Australia's gold producers. AurionGold has been one of the hardest hit. Until 29 July, Canadian-based Placer Dome was making a scrip-only bid for AurionGold. So while the currency and gold price have been swinging around, so has the share price of Placer and, therefore, the value of AurionGold. But Placer has now offered an extra 35 cents in cash per AurionGold share. With the company struggling to attract another bidder and Placer making its offer unconditional, it's tough to see Placer improving its offer. If the bid fails, the share price will probably fall. But we see long-term value in AurionGold at these prices so that would not unduly concern us. That's why we're sticking with HOLD FOR THE UPSIDE.

IMPORTANT: Intelligent Investor is published by InvestSMART Financial Services Pty Limited AFSL 226435 (Licensee). Information is general financial product advice. You should consider your own personal objectives, financial situation and needs before making any investment decision and review the Product Disclosure Statement. InvestSMART Funds Management Limited (RE) is the responsible entity of various managed investment schemes and is a related party of the Licensee. The RE may own, buy or sell the shares suggested in this article simultaneous with, or following the release of this article. Any such transaction could affect the price of the share. All indications of performance returns are historical and cannot be relied upon as an indicator for future performance.

AurionGold

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