Senior Analyst Patrick Chidley of HSBC says one of his top picks is Randgold Resources Ltd. (ADR) (GOLD), which is in the midst of a growth phase.
“it’s a West African — or actually produces in West and Central Africa now, although is actually a European company, listed in London and on Nasdaq,” Chidley said. “It’s bringing on a major new mine, and what we see going forward, what the plan is, is for costs to keep coming down on the basis that grades will go up.”
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Chidley notes that when companies mine higher grades, the average cost per ounce tends to go down, so Randgold is riding a positive trend that will help them going forward.
“It’s one of the lowest-cost producers on a total-cost basis, and we think that they’ve got a solid balance sheet and one of the best management teams in the industry. So that’s one of our picks,” Chidley said.
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