Hi All, Spot gold topped $US2000 an ounce overnight Silver seems to be making a run for it also. At these prices now and with the US economy in pieces it seems to point towards growth in precious metals over the next two years while the world's economies recover from Covid. Louis Ponds from GRL has a large silver deposit to be mapped in late 2020 and the gold from its other sites seems to be under reported. I was looking around asx for silver mines but now I dont need to if I just put more money into GRL. When GRL listed it was 20c and seemed like quite the bargain then. At listing the gold price was circa 1500 and easily filled its IPO request for shares. Now that gold price is up 33% I see no reason why without any drilling or any reporting this share shouldn't be 20c+33% so 26.5c. With drilling results included and showing open reserves which still require drilling to map their full extent, the price should anywhere up to 35c even for those who are not as bullish on gold. For those who are bullish then potential price of 40c + would make sense in this market.
Just my thoughts but that's the logic in my head. Thoughts?
GRL Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
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