I've been heavily invested in a graphite stock which unfortunately has not seen any SP growth since doing a lot of capital raising to build a mine. The mine is being built but demand probably isn't going to develop until all the off take deals/pricing is locked in and the mine is closer to completion.
So yeah I'm looking to diversifying and a gold stock has been on my mind. While critical of leaks - I wouldn't have spotted GBR if it hadn't jumped 30% on Friday!
So many mining companies never make it to production and it can be a long ride for those that do. Most gold mines put out releases talking about mostly single digit grams per ton figures with select areas showing double digit.
Reading back Mulga Bill results not just a few double digit areas, but multiple areas pushing into the 20s and 30s, with one area into triple digits!
If results come out Monday/Tuesday that support more SP growth - then yeah I'm going to take some of my money from the languishing graphite stock and drop it into GBR.
And yeah if Evergrande causes a world wide crash - ppl will move into gold stock. A credit raise to start mining would be little issue as are fund managers look for some where to store their hurting money. A gold mine in Australia is easy for big funds to feel comfortable with.
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