Right now, there is limited capital allocation from Fundies, Financial planners/advisors/etc have all grown up in the school of bureaucratic rules and advice around allocation...so there is no money moving to gold in portfolios(dividends don't yet warrant it), the risk money of under 40's see's Bitcoin and their ETF's as the preferred "punt", etc.
As such, they will all watch, and ignore until the earnings metrics with A$ gold at $4,000, $6,000, whatever will become so compelling that they will all jump in at once......Lithium stocks were the same. (nobody wanted PLS for years at 40-60c).
Gold stocks are a 3yr play from here.....the money will flow eventually. It's human nature.
I'll be selling when you see ppl lined up at 9am outside bullion dealers....much like those clowns who line up to buy sneakers or swatches.
Ann: March 2024 Quarterly Report, page-19
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