Junior explorers with still a ways to go to production are pretty much immune to short term gold changes. If the POG was to see a long term trend change that may be a different story.
If you look at gold producers you'll see a MUCH higher correlation between POG and the stock price swings.
In terms of GML based on the last Ann we should be drilling again now which at best will take about 4 -6 weeks then to process the assays is another 4-6 weeks. Therefore in terms of what the market is currently aware of for expected news flow we have another 7-11 weeks to wait. For day traders that is long time to wait so there is an expected lull in volume / demand and the SP drops off a little in the mean time.
For investors and patient traders this lull is good time to pick up cheaper shares based on where you think the low will be.
AIMO
GLA
GML Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
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