"Fortunes have been made and lost in the gold stock space in the last 5 years. I believe those that have endured the losses and have held on are soon to be rewarded for their patience, especially if they've buying more down here.
I personally have now got my GRY average below 20c. "
Congratulations on getting your average down to below 20 cents. No doubt in time what you hold will be free carried due to your trading skill.
However for those that do not trade, the buy and hold approach is basically a potential route to disaster. So I would not recommend that people hold and bear the pain on such volatile shares which can vanish from the ASX for many reasons, including adverse commodity price changes and mismanagement.
I will not be holding this share if things do not improve within a reasonable period, but may buy back in again at a lower price like I did in June. I doubt if anyone who bought GRY shares at above $1.00 will break even in the next 18 months, so for them the wait is going to be lengthy and perhaps all they can expect is a partial recovery of their investment funds.
loki (yeah - ya gotta trade ya goldies or you'r a loser like me.)
GRY Price at posting:
18.5¢ Sentiment: Hold Disclosure: Held
