excellent charts:I don’t hold either buthas bounced off 140...

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andrew9484

1,781 Posts.

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02/03/24

11:55

Post #: 72709979
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Originally posted by goodoh: ↑

Hi Timm
I have exited all my gor holdings as in my last post. Hence no more posting as posting would mostly be negative after I exit at least in the short term.
You probably invested in Gor because you believe in a gold bull market. But gold and gold miners are 2 very different beast. It is disappointing to see gold shares falling when gold has been holding it's own if not rising. This is especially true with gold priced in Aust dollars. But gold stocks are flogged with pit holes apart from being cyclical, it is not for buy and hold investors rather it is more suited for trading.
Before I post the weekly chart there are some facts about Gor that you may like to know. Gor is one of those unhedged gold stocks which I like because it can then take full advantage of an up trending gold price in Aust dollars as it's mine is in Australia. Hence when it produce just $13.8 million in the last quarterly one can say that Gor really has a problem. It is normal for miners to miss earnings especially during the inflationary period but the miss is outsized
and the explanation is merely just an excuse. The question I ask is is this just a once off or is it going to persist. And the 2024 guidance of 300,000 - 335,000 ozs of gold is lower that the 2003 production which implies the problems are persisting at least in the short term. This will make Gor into a high cost miner instead of the low cost miner I have known. Furthermore they have spend large amount of money in exploration but the resource has not been growing. Enough of the rent here is the weekly chart

It is clear that now gor will at best be trending side ways for a while. The reality is one have to be very picky when it comes to Gold stocks and there are other gold stocks that are outperforming. never fall in love with any stock and remember your primary objective is to make money and not to stick to a stock simply because you like it.
cheers

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excellent charts:
I don’t hold either but

has bounced off 140 support

some nice targets.
Top of the red candle
then potentially the gap

a number of Goldie’s have also had some weakness .
sometimes you just need to swap in and out of them

come Monday that 1:50 will likely be ST support

GOR Price at posting: $1.49 Sentiment: Hold Disclosure: Not Held
4 Upvote

2 Great analysis

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