allied gold is going ok

Allied gold is going ok

Remember when I said that Allied Gold was for "true believers" and its price was down around 33 cents?

All the indications are that this stock is selling well under its true value, which in my opinion should be more like $2 considering the amount of gold that can come from their mines over the next ten years and the strong trend for gold prices to increase over the next few years.

So its price has increased about 25% from its bottom to about 41 cents with plenty of upside still to come. Have any of the big cap "blue chips" increased by 25% over the past week or so? I doubt it.

I was buying with enthusiasm near the bottom averaging 33.8 cents per share and very glad that I took very little notice of those who said that Allied Gold has a limited future (various stupid reasons were put forward).

And now I've got a big load of them and looking forward to some really big increases in price over the coming months.

In my view it's one of the best long-term holds that is available in the entire market. Not a flashy hyped up stock but one that will get progressively better over the long term.