RE:One step up, two steps downYes everyone here is disappointed that EDV isn't much higher. But EDV is just paralleling the general market in gold companies. GDX which is the best indicator we have for the general market, had the same peaks in those years, and they also were lower each time. EDV has done a little better than GDX as GDX is up 46.87% over the last five years , and EDV up 59.81%.
And my bet is that if and when the gold market gets some traction, EDV will do better , to much better, than the general market over the next 5 years.
The next mine that EDV will open, Lafigue, will start producing low cost gold in Q3 2024. 200,000 oz a year .
But the exciting game changer for EDV will be Tanda-Iguela ( EDV holders will become very familiar with that name) . It is still early, but in 2023 reserves tripled to approx. 5 million oz Au. Since the deposit is open down and out, a doubling seems quite possible in reserves, which would put it at a similar size as B2 Gold's Fekola Mine in Mali. That mine produces approx. 600,000 oz Au / yr, and seems to my uneducated eye, very similiar to what Tanda-Iguela will be - low cost, open pit. Just for the curious: B2G started initial work on Fekola in Feb 2015, and was in production by Oct 2017.
And for the dreamers, another tripling of reserves would make it a 'monster' , and potential to be in the top 5 in the world for production.
So to me, and this depends a lot on what the price of gold will do, which will determine market sentiment for gold companies, a doubling of EDV share price in the next five years, not counting dividends, is a strong likelihood .
And yes there will be ups and downs, so if you are a day trader, or a short termer, you will need to be nimble. But retail makes up a very small percent of EDV holders, and all the others , given the low daily volume , are here for the longer term glory.