RE:RE:RE:RE:RE:RE:RE:Now Sprott's selling for the summer, is proving ingeniusWhoa I didn't know it had dropped 67c in after hours , glad it came back.
I was very lucky I sold a lot of KL shares on Thursday at over $56 just thinking it had topped for a while and hoping to buy back in at a lower price later Thursday ( 1/2 my shares in an RRSP so no immediate tax consequences). It turned out I didn't make much but thought I had bought the same number of shares back at a very small profit. It turned out I mistakenly had sold the other 1/ 2 not bought so I was worried come Friday morning lest the shares took off to the upside and left me eating dust.
Lucky for me the opposite happened so I was able to buy back not at the low but at $53.39 and watch as they went back to $55+. A lesson well learned don't touch my core holdings this stock has too much potential. Yes I could have bought fewer shares back if it had risen in price but would always be kicking myself for going against the plan.
We may see more down days this summer but could also see a sudden rise at any time due to many factors including more $$ from higher production (they may want to mine as much of Swan Zone as they can before new taxes set in in 2020, new discoveries at Fosterville/Robbins Hill or reopening of Cosmo could also push up the price in the near term. Long term I'm confident rich ore in the Fosterville footprint will expand and now with the same potential at Macassa there seems to be many upsides and few downsides to this stock. If the price of gold tanks then maybe that would slow us down but that seems unlikely.