Well I would not bet against Elon Musk. Just because Cryptos are obviously mainstream doesn't mean that there is not a place for gold . Yesterday was a very bad day for gold down 90$ an ounce(US ,or about 120-130 au) If for example a gold mine has a profit margin after expenses of mining etc of 1000$ an ounce its profit margin went down 10%.Expenses for mining are relentlessly going up. Interesting news on the wires today .Newmont is selling its Eleanore mine in Quebec for 800million US ,it produces about 250,000ounces of gold a year and over its life will produce 14 million ounces with prospects for more .I happen to own a couple of smaller exploration companies which are prospecting around Eleanore.One has 2 million ounces and is valued At 50 million Canadian .Two good reasons why I think both GOR and DEG are overvalued.
GOR Price at posting:
$1.86 Sentiment: Sell Disclosure: Not Held
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