DisclosureIf stocks were priced to perfection ... where would the room be for the little guy?
If the long awaited third-phase gold mania ever arrives, you had better hope your portfolio holds a few "dream" as in tantalizing but not fully explored or understood deposits. Asumura with one or two "discovery holes" sounds very good as the POG leaps up at $75 a day over a few months of wild speculation as panic affects the euro and the dollar. Then watch runs in price that make hand-wringing about moves in the $7 - $9 range look like nursery school nonsense. It doesn't matter in the long run.
There is much more $$$ to be made mining a mania then actually digging up muck and refining it. And so it has ever been. This whole long term trend and the essential value of KGN is built on sentiment, and sentiment alone. Gold - nothing but a focus of human insecurity and emotion. A barbarous relic of fear that has yet to be banished from modern life. Interesting that Keynes said that, and it was Hayek, who absolutely skewered his theories, who penned the truth - the Road to Serfdom should be required reading for every citizen.
https://mises.org/books/TRTS/Think like a nickle and dimer, make nickles and dimes. Hey good luck, if I were you I'd stay on this train for a while yet. But I'd also be busting a nut looking for other prime post-discovery PM plays with solid management, exploration potential, economic viability in their targets ... yada yada. All eggs in one basket - there must be some Chinese proverb that says you end up with more broken eggs than omlettes for breakfast. But have to say KGN looks like a keeper if you are a committed gold trend person, as I find I am.
CG