I may be stupid, however with gold up double digits and the Dow up 135 points, HMY is up a couple of cents. Something is amiss here and I believe that there is still more downside ahead. GLTA as you will need it.
Simple answer, the market is waiting for confirmation on whether or not the mine will remain closed or if they will open. I think they will eventually open it because their is too much money at stake and too many jobs too. I don't have a position in Harmony right now.
The market has priced in complete nationalization of SA in a year.
I give $400 for Hidden Valley.
$2 billion for Wafi Golpu ( 20 million ounces and growing).
Plus $300 in this years profit in SA. Market has priced in complete nationalization with
no compensation in a year. Doubtful it will happen so this should go higher.