See ya later!!
1832 Asset
Management L.P.
1832 Asset Management L.P. ("1832 AM L.P.") is one of Canada's largest asset managers with over $151.1 billion* in assets under management on behalf of retail, institutional and private client investors. 1832 AM L.P.'s investment management team is active across capital markets and asset classes deploying traditional and innovative strategies to deliver investment excellence for Dynamic Funds, ScotiaFunds and a range of international investment mandates.
*As at October 31, 2020
Looks like 1832 are happily taking their money back to Canada so hopefully they will leave our great Australian Companies to get on with the job of exploration and discovery!
Lets seriously hope that Glenlyle, Resolution, St Arnaud etc. ALL turn out to be MAJOR discoveries and that these guys have pulled their funds out at exactly at the WRONG TIME!
They obviously believe that the price of gold will go down hence the withdrawal.
If you look in reality at the worlds economy and all of the money that is now owed globally in my book GOLD IS HAVING A MAJOR SALE AND SO ARE THE SHARES IN NML!!
Since Covid began nearly 12-months ago, an astronomical amount of debt has been created.
In the weeks following the 2020 crisis, the US issued more debt than the previous five recessions combined (1980, 1982, 1990, 2001 & 2008).
The Fed under Jay Powell bought have also more US Treasuries in 6-week’s than it did under Bernake and Yellen combined (a 12-year period). The amount of debt we are talking about is unbelievable, and they are not close to being done.
When you consider the unprecedented stimulus over the last 12-months and what is still to come, gold will NOT stay near pre-Covid levels for long!
IMHO The best thing about the withdrawal of Asset 1832 from NML's Top 20 is the fact that it seems to be solely based on taking money out of Australia rather than about any negative drilling results...
+ I am confident that the price of gold will go back up!
And by the way,
A very BIG Thank you should go out to Dr Steven Garth Nordstrom for buying the majority of these heavily discounted shares and actually seeing the TRUE VALUE of where NML is actually going!
He must have well over 40 million+ NML shares in his kitty now....
I am sure that before we know it NML will be back up to its old highs!
Imminent results cannot be too far away and whilst Resolution looks pretty darn good Glenlyle is really shaping up to possibly be something spectacular, especially if the current DD hit those deep porphyry sweet spots!!!!! (Look what happened overnight for SVY!!).
GLTAH+DYOR
P.s. And NEVER EVER forget about the NML/CYL JV @ Tandarra!!!!
(20min delay)