I see it as part of the overall weakness towards the gold sector. There are many gold miners (e.g. RSG and PRU) that are trading near their lows even though their recent reports have been positive and the gold price has been rebounding. For whatever reason, investors seem to be shunning the gold sector and it's going on longer than most people expected. US gold price rises, then aussie miners go down. US gold price falls, then aussie miners go down.
Sentiment makes all the difference in my opinion. Just look at the current wild speculation that's going into Bitcoin and the likes at the moment. Although they could go much much higher, I personally do not want to be buying into periods of wild speculations. I believe it is better to stockup when a sector is being ignored but has good future prospects (i.e. gold). Then, when wild speculation comes to gold (as it inevitably will in my opinion) look to sell out.
TGZ Price at posting:
$2.88 Sentiment: Buy Disclosure: Held
