GDX and GDXJ have held up ridiculously well overnight and in the last two nights with the massive drop in POG.
I can't quite reconcile. Either the big drops in GDX and GDXJ since 18th of April have fully priced in the drop in POG vs Interest Rates and inflationary cost pressures or there is more pain in GDX and GDXJ to come.
Or maybe the big drop in Crude Oil has cushioned the blow .........during the last quarterly investor call RRL said that every 10 cent rise in the cost of diesel is worth a $25 rise in AISC. This was very nice transparency by the board.
RRL board should also be commended again for their transparency - they always call out problems in production, and they also said last quarter that this quarter would it would be a big quarter - they didn't lie.
But with all their good work - can this price hold with the tumbling POG....
RRL Price at posting:
$1.50 Sentiment: Buy Disclosure: Held
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