NAV posted as $1.7704 .... ...... and has probably added about another $0.015 in unit NAV this morning. Currently trading at $1.69
mouserman,
Osisko Royalties and KNT contine to ignore the record gold prices and silvers rise.
Both are down again today...
IMO WPM should be the top holding, they have exposure to gold , silver AND PALLADIUM, which is really the most precious metal right now.
NOt sure why these managers love to buy up the risky , poorly managed ones.
If i had this portfolio to manage , i would have lowered the holdings in those two, and bought KL as it got beaten down, after a great Q report.....
Folds obviously think they overpaid for DGS, but as gold keeps rising , that deal looks better and better. Management at KL is much better than the crowd who were running DGS the last few years... just ask some of the big shareholders, as in Paulsen etal...
I am sure they have a lot more condfidence in that project now.
GUY is up to .755 today, but really if you look how it has done since FEB 1 , when it closed at .74.... GUY has continued to be a solid underperformer in this portfolio.
CI Investments bought KNT at an average price of $1.57. KNT now has a market cap of around C$937 . Shares appear to have priced in alot of future good news already. Exeptional performer for MMP.UN already.
GUY sure has been a dud in this fund for the past 18 months. Almost like an anchor. Now that the GUY fiasco of 2019 is over and done with, there will be a new mine plan announced within the next few weeks. With GUY writing down the resource ounces just over a year ago, (I believe they used a gold price of $1400), it will be interesting to see how many of those ounces could return to the asset base if a higher base gold price is used. I doubt the MMP fund managers would have averaged down on Guyana Goldfields without having a good idea of what the upcoming revisions for GUY' mine plan will look like.
Looks like the markets are really spooked about the Corona virus, even though gold prices are at 7 year highs, the gold mining stocks have not responded in line with this current run in gold.
I have a few concerns about this fund, but with my average cost base is somewhere south of $1.00 per unit, and paying me $850 per month ..... I'm comfortable with letting the fund managers do the trading, and I'll play around with a couple of the under performers with some of my own funds as well ... GUY and TMR are at distressed prices ... both are prime targets for takeover bids.
Best of Luck !