Fundamentals haven't changed, page-760

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Bob183

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24/06/19

07:17

Post #: 39199411
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Originally posted by swannmex: ↑

Here's the thing... there is zero reason to be investing or speculating in gold miners unless you think the price of gold is going higher
and new money is going to come into the sector. I can count the number of high quality gold miners with 1m oz. au. production and all their assets in safe jurisdictions on one hand. Kirkland Lake, Northern Star and Evolution are at the top of the list.

We have all been waiting for this gold bull to get unleashed. I am personally avoiding the temptation to get too far into the weeds and over analyzing.

KL, NST and EVN have all done very well for me over the past several years and if new money really starts to pour into the gold sector as I expect, they are the "best of breed" and will all benefit greatly. All 3 pay dividends, have great balance sheets, great margins, excellent management and have assets in the top mining jurisdictions ( read: NOT AFRICA ).

You pay for quality ( or not ) but in a sector where quality is really hard to come by institutions and general investors who want some exposure will pay up for quality.

Agnico Eagle is selling at 91 X forward earnings.... insanity but that is what people are willing to pay for a quality company with growing gold production, paying a dividend with all assets in safe jurisdictions ( read: NOT AFRICA )

Lots of great speculations on the ASX ( EAR, RMS, BGL among others ) with great stories in a safe jurisdiction that will benefit if the money comes back into the gold miners. Lots of great speculations like WAF that are cheap on paper but with huge political risk ( read: AFRICA ).

At the end of the day, this is not about being "smart" or being "right", it is about making money. There are lots of ways to make money in a gold bull market.

Good luck whatever you invest/speculate in.

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great post

NST Price at posting: $11.69 Sentiment: Buy Disclosure: Held
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0 Great analysis

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Fundamentals haven't changed, page-760

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Fundamentals haven't changed, page-760

Top Stories

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