RE:Still Holding On StockPigg7 wrote: Still in the green here (just barely) and haven't sold a share yet. Lots of reasons to hold on:
1) The Fed has showed its hand: they will lower rates to 0% by next week and they will/already have/are printing money by the trillions. PERFECT environment to be holding gold and stocks in companies with gold by the boat load in the ground
2) Coroavirus is halting economies in their tracks. China has been completely shut down for a couple months now and the virus has just started spreading in North America. There will be a shortage of stuff since, if everyone is sick, who is going to make it? So.. shortage of products + central banks printing money and handing it out is going to cause inflation to spiral out of control. Hhhmm, and what do you know, gold historically has been the classic inflation hedge.
3) WM is debt free and completely funded for the rest of 2020. None of these disruptions in the markets will stop them from putting drills into the ground.
Amidst all of this carnage, gold seems to be holding on rather nicely here. Down a little bit this week, but what hasn't been affected by this sell storm?
Good points StockPigg7
One thing that might slow them down though is if the drillers can't work because of a quarantine lockdown.Does anyone know if there is a workcamp at the minesite or do workers drive from homes nearby ?
Also if drill supplies are in short supply including fuel that could slow down but likely not prevent work from going forward.