RE:sinking feelingGold went down 0.5-0.6% today. NFG went down 9%.
Gold is still holding it's own against the mighty US dollar when most everything else in the world is sliding against it.
There was no good reason for gold and silver stocks to slide today the way they did (NFG included). It happened because the buyers are sitting on the sidelines wondering what will happen next. When clarity returns, so shall they, and NFG will go back to $7.
If last Friday was any indication, big money is sitting on the sidelines waiting for stupid fools to sell. I understand why - if they have 3 million ounces in the ground at Keates, at a profit margin of 1,000 CAD/oz, that's 3 billion CAD dollars. Divided by ~200 million shares that's $15 CAD/oz. For 3 billion reasons I'm not overly concerned about the current share price. You will lose money on NFG only if you sell. Just chill and let it ride.