I've been away from the PC buying and organising a boat (but no Merc) but the rain has forced me back. I see LGL has done its usual of going up when gold goes down (having gone down as gold went up) so I am in front on my decision to stay the course after the May expiry which was disappoinitng. I'm still long as I exercised my May calls but it is tying up significant funds and now there are many other big stocks deserving of attention. I was expecting by now that rising inflation expectations and poor market tone would have led to more appetite for gold stocks. I see the volumes are still large at 28m today and I assume there will come a day when fidelity stops its sell down. Post merger , I still think we will one day see a 10% bounce and then the trick is not to take profits too early fearing yet another pullback.
LGL Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
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