What are you guys hoping for?? I warned the thread in the past unproducing stocks like GOA will cop a hiding as the debt crisis around the world unfolds.
The market has decided, and its clear from the results the PNG deposit is a very large, very low grade deposit. Meaning very significant capex costs if it ever gets that far.
Profitable/producing gold stocks are way undervalued. The market doesn't quite believe gold should be this high and is factoring in much lower gold prices. So what chance has junior explorers got? While that sentiment remains intact GOA's share price will stay around these levels.
I for one believe this latest gold sell of its just a significant correction in a long term bull run. Global interest rates will remain low and the money supply will remain for many years to come yet, no doubt about that. Thats what has been driving gold. Before the sentiment in gold stocks changes we need to see that happen with gold first. Gold will come soon enough IMO but stocks following may come much much later.
This one ain't go nowhere IMO for a long time yet. So bottom draw it and forget about it. Hanging off every bit of movement and announcement is a draining venture.
These are not good investment times. A lot of fear out there, and for good reason!
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