Ann: El Zorro drilling returns multiple thick gold intercepts, page-175

It's most likely to do with the record outflow of investment in gold funds. Alot of the ASX listed explorers would have had made in on the list of the various funds in both local and international markets. Better explorers have higher weightings over others, so they probably have appreciated harder, and will fall just as hard.

On the Actual Gold Mining business front, it is business as usual for them and Business has NEVER BEEN BETTER. The demand of the physical product is real strong. Miners are making money hand over fist! They have no problems raising massive amounts of capital and securing finance aswell which means that the smart money still continue to see strength in the sector. This is a very bullish signal! It means that if we continue on our accelerated path, keep executing, there is no reason why we wouldn't be able to do what GPR recently have done, secure in excess of $100mil finance from Sprott (OLD MATE RICK RULE) & recent successful $140 Mil placement. Smart money ain't worried about the sector!!!

We have the Cap Raise bug bear off our backs now. Company now has the money so It is really up to the team now to deliver as much value back to shareholders. Which is to define a big resource. Obtain all necessary environmental/regulatory approvals for mine development. Provide confidence through drills results that other targets have potential. All this so we can either sell it, say, at even the the TO bid valuation of CDV at circa $600Mil! Or accelerate the mine development. Bring on the 2021 drilling/exploration campaign!!!

On the shortterm investment front, It is mostly the speculative money from the managed funds and the recent selling across the board that is driving the perception of negative sentiment, the narrative that the economy is recovering and adjust to a more risk on strategy. As they are heavy momentum traders, all can change in a very short amount of time, could be a number of cataylst. I'm not sure which but I'm leaning towards a poor Dec 20 & March 21 GDP results triggering the begining of a stock market selloff as the narrative of a Covid Vaccine and a return to pre-covid conditions don't prevail. Also, more stimulus always helps.

Things could change very fast. Best to monitor the futures market. Usually when the managed funds money increase their net long positions funds investment in Gold Equities normally follows shortly after.

The market doesn't need their money to do well, retail & pro money is enough for the market to function fine and will be valued accordingly based on results.

Obviously, it's great when their money enters the sector and liquidity is increased, however, sucks balls, when their money flows out because they'll be on a mission to sell regardless of fundamentals.