The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Problem I have with gold and silver stocks is the powers that be don't want them to do well, if they do, do well it's because they have lost control and the market runs for cover as bombs are going off over head. The precious metals threaten their fiat currency so they crush it to keep control. When the preverbiable hits the fan then they will go but they still keep printing money and inflation isnt a problem yet, but it might be and with household debt going up, they may have to helicopter money!
I hope your right Old timer, I'm the fool that sold at 3.6 and bought back in at 4.2 when it bounced as I thought it would drop sub 3p :( so well done you, I have learnt my lesson and just holding as not worth trying to play the market, especially if your no good at it like me :)
Ftse is down 2.4% already, no body is buying anything right now, the urge to sell is driving the market, even with gold up, this could end up at 6p or 4p who knows ! Am holding either way, mid to long term we are looking good.
Not sure why we are down, think the markets are bouncing around a bit at the minute, dont think I would be buying chip stocks right now, yet Nvida is up 5%. Dont think the numbers are going to support this raise, but its a case of where else to go. Silver got hammered, gold a tickle lower. Think this is the only stock for me with a mid to longer term potential.
They certainly jumped on the price of silver yesterday, and gold, don't think they want it to be as simple as, stocks go down, gold and silver prices go up, and stay up, gold yes, more stable but silver much easier to manipulate.
Could see 6p tomorrow after presentation maybe, great news tho, the step outs must be looking good, plus interim updates on drilling. Long term this surely is a winner, 8 rigs, no MRE but looking big, Newcrest keen as mustard to get digging, that 20p looking more and more realistic by year end.
Ok, so if we say that currently Newcrest makes $800 profit from each ounce of gold, think it's just over something like $834 I think form last Newcrest report. That is 50% costs. So we could be looking at after costs $100 per ounce in ground after 50% costs. To keep thing easy I,m going to say 10 mil ounce deposit, could be more or a bit more, or a bit less, but that's would be 1bn. That doesn't include the 5% option to buy at fair market value.