Yesterday all goldies currently producing that I look at went down, many substantially. So too did many explorers and developers. I assume therefore that many folks either don't believe the gold rally is long-term, or do but prefer to be safe. Margin calls etc are unlikely to be a thing when the market generally is spiking unless of course one goldie is being sold to support another.
WA8 did not move. Ipso facto holders/buyers: 1. Believe antimony prospects trump (I tremble to use the word!) gold; or 2. Believe the balance between gold and antimony provides resilience other gold companies don't have; or 3. Are being carried away by the air of confidence around this company.
I am not sure that antimony as a stabiliser only, would do this. After all, the Spartan gold grade of RMS provides similar resilience in a different way and that fell badly.
Therefore I conclude many are in WA8 for antimony. I am buttressed in that view by my surprise a couple of years back when I found BRB (now with RMS) was being treated by the market as a Lithium play rather than a gold one. Lots of folks just like a new thing....
Thats all a matter of logic and my water.... which Mrs Eagle is sick of hearing about. Feel free to dump on it (the logic, not my water). Personally I do always like a second string, whether its M&A, antimony or copper.
WA8 Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
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