Needs a good quarterly to stablise. PRU didn't and has been punished accordingly.
From a longer term perspective gold producers P/B now at historic lows averaging 1.2X versus LT average 3.7X. This is lower than GFC low (Oct 2008) of 1.9x and 1.8x in 2001 (when gold was below US$400). Reminds me what happened to REITs during GFC and is usually a reliable indicators that it will turn around.
what you cannot see(now), page-92
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