Yes sums it up pretty well. I’d suggest EGA holders read the SLR...

Yes sums it up pretty well. I’d suggest EGA holders read the SLR quarterly report today. Guidance for FY20 of 215-230 koz at $1400/oz AISC. They are effectively double the valuation of RMS and with a similar production outlook, cost profile and reserve base. SLR is supremely over-valued on any metric.

It’s not necessarily purely driven by ETFs and index funds but I think there is money coming in to specific stocks looking for gold ‘exposure’. It’s dumb money in the sense of seemingly having little understanding of operating performance or history of the company.

For those around when SLR was previously a market darling they’ll remember they bought out Integra with over-valued SLR script near the top of the market.