RE:Share Pricegeorgemarch wrote: I've been pleasantly surprised by how gold prices have stayed high. There is much talk about how gold will go to $3000. I've said this before, but the key to a higher sp for FVI is a sustained high gold price. Once the market senses a steadier stream of cash to the botton line, money will flow into Fortuna. The caveat I still have is the political situation in West Africa. Assuming things continue as they have with pm prices moving steadily higher I don't see how the share price can't move to the $15 - $20. I've sold some shares in the past just shy of $12 so I would love to hear an arguement against sp going significantly higher. Was the easy money made already ... 2016?... 2020??
Fortuna seems to be weathering the west Africa anxiety quite well. Look at B2 gold. Thier sp hasn't budged and they are a great company but also in West Africa.
Back in 2021 I was inspired by an interview I saw with Eric Sprott and I dumped about 200k into gold stocks. Unusual for me to put that much in one sector. I was late in that cycle but did quite well making about 40% gain on the 15 or so miners I bought.
But in 2022 I started to see a rollover and all of them starting to move lower so I dumped most and kept just 25k as a sort of watch list to see how it goes. Wow I couldn't believe the carnage. I had a couple go to zero...like great panther, and others drop 90%...like Alexco and Argonaut.
Anyone who hung on lost big time. It's no wonder the retail investor is always reluctant to buy in even as they see the price of gold up and the prospects for these companies becoming very compelling.
One can make money in up or down cycle if they are vary savy in the space and know what to buy. But the cycle is there and if gold holds up, I believe we're going to see big gains here across the board.. We are still pretty well at a low point for most of these companies so probably still time to load up.
Quotes from famous investors:
Rick Rule:
"In this space if you're not a contrarian, you will be a victim"
"The future is not necessarily a continuation of the immediate past"
Peter Lynch;
Don't feel youve missed out and stay on the sidelines if something has gone up. If it's a great company, it will continue to go up:
If you want to become a believer in the gold space, watch some interviews by Dr Thomas Kaplan. The guy made billions in prescious metals and his belief in gold ascending to 4 or 5k is very convincing.