2020 was all about the forever sky rocketing gold price...

2020 was all about the forever sky rocketing gold price narrative. Inflation wasn't a problem in 2020 so the narrative was that gold miners were going to make a killing. But that bull market died in the bum pretty quick following further rounds of QE Low Rates for Longer.

2021 we sall the market go full risk on and most liquidity from gold miners and explorers were killed.

2022 we started to see inflation from all the money printing, travel restrictions and global trade disruptions hit the miners are and whilst the gold price remained fairly steady, the cost were far outpacing any increases in the gold price.

In 2023 the gold price is up a little, however, the inflation problem remains and we're seeing almost all miners getting stung by the rising cost. If there is any pullback from the current gold price of crica $2700 we're going to see more miners collapse.

There needs to be a catalyst for another $500-1000/oz aud in the gold price to get any hope of inflows flowing back into the gold small caps and just don't see one.

The current market is bearish for gold small caps and junior miners. If RR doesn't secure an exit for RXL, shareholders are finished.