Havent looked that closely at BGL, but at a grade of 11gt its one of the highest grade deposits found in recent times, and iirc, they say theres huge scope to expand it. And then Tolga "Cum-on-Over" is behind it as well , his involvement usually sends stocks silly. BGL is green today.
Its my belief we are in a major correction, so Bots are white anting all ASX stocks on these now frequently occurring red days.There seem to be plenty of weak hands holding CAI, aka short term traders getting out as soon as they go negative.300Mcap for a 90Koz producer......pffft! Well done to all those loading up at these levels.
Trading gold or commodity stocks is a double edged sword - you not only have to deal with the price of the commodity, but also general market sentiment. In the case of the latter, it is mostly "fundamentally" irrelevant. Gold is always in demand, and the miners have been making good money since June 2020 when PoG hit $1800 .
@Contrarian4me True dat. Bot owners love to induce fear and capitulation selling. Smart money knows why though.
On my watchlist of 79 goldies, 7 green, 30 going nowhere, 42 in the red. Heres the worst and best today so far...
CAI Price at posting:
74.8¢ Sentiment: None Disclosure: Held
(20min delay)