We'll know whose smarter Meerkat in 12 months time by who has...

We'll know whose smarter Meerkat in 12 months time by who has made more money. As long as gold remains in an uptrend, SAR will eventually reflect its fundamental value (which is the value of its future cashflows based on its annual gold production- which is only rising as the price gold goes up)

The $60million write down was announced well before the annual results came out and was already well known to the market. All gold shares have taken large write downs because the gold price dropped more than 30% over the last 6 months or so.

The fact is all the gold stocks in the United States were down overnight depsite the price of gold rising and there was negative sentiment today towards all gold stocks. SAR was especially sensitive today because it was thinly traded.

If the price of gold falls tonight, then SAR will not be the only gold share that gets hammered tomorrow. Let me know if you think otherwise.