NYSEAM:GORO - Post by User
Post by
goldpoeton Feb 27, 2020 4:43pm
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Post# 30743619
I'm shocked by the sell off
I'm shocked by the sell offthought producers would have less downside than explorers and developers. If you watch Reid's presentation in the fall of 2018, gold was a lot lower, Nevada didn't exist as a mine, and the market cap was $325m. We're less than that now, and making a lot more money. My fear is that the market collapse will bring down everything as it did in 2007 when gold stocks were hammered more than 80%. On the other hand, a lot fewer people own gold stocks than in 2007 following a 6 year bull market, so people may not be forced to sell as they were in the 2007 liquidity crisis. I still believe that the 6-9 month outlook for GORO is golden but could be rough sailing here for a while. I've been buying the dips only to add to my loses, so I will stay put for now and sell how the macro stock crash plays out. Best to all longs, Poet.