RE:“Gold timers have now turned bullish...montydog wrote: ... so don't look for the metal to shine"
This article is the first bear case for gold I've seen this year. And I'll admit - it did make me pause as I'm naturally a contrarian investor, as is the author.
Maybe they have a point. Maybe all those powerful arguments that gold will continue to rise in response to the the world's money printing presses going into overdrive, will fail to materialise simply because.... well, too many people are making this same prediction...?
https://www.marketwatch.com/amp/story/guid/0E5F0934-88D6-11EA-9937-A568192FFFCB
Hmmmm....
I'll begin by saying "sourry bout spelling errors". Clumsy fingers, non native language, and early in the morning - or 06.00 CET. Anyways, here goes:
I have seen similar all over YouTube since just after mid March, or thereabout. Gold will falter and go down. That message is about, but the vids are few and far between. However, they do exist so the sentiment is not all brand new.
I believe we who own GBR shares need to remember a few things. GBR is an explorer. As such we do run a risk of delays, unvanted drill results, market manipulation and lack all form of income to handle long term investment needs.
I also believe that we as GBR share holders need to remember that GBR has already explored, and found, something big, have several drills going as we speak, got a pretty well understood mineralization (confirmed), still suffer somewhat from the blatant gold future paper market manupilation, and have secured enough cash not to only last us through 2020 but also 2021! Read that again; we are fully funded for the next 18 months. That in itself is pretty darn amazing!
I think that what we saw yesterday was people selling off due to general insecurity in the markets, combined with some profit taking (loads of people could have made 10x by selling yesterday) and a willingness to invest in new ventures. I get a feeling that mining stock holders often behave like gambling addicts and try to find a new rush or high by investing in the newest trends. Yesterday there was a video on YT about Sprott investing in some silver company, and I bet that at least a few dollars of the revenues of the sale yesterday was directed over to that company stock. Speculating, naturally, but that is what I think.
I bought more stock in GBR yesterday, at $11.39. I had sold off a bunch at 11.69-85 about a week a go (investing some revenues in physical). Too soon? Probably, or obviously looking at the chart. But I strongly suspect that what we will see in the near future is a steady stream of drill results and new plans. There has not been a single drill result "for ages" (hey, it has been less than 3 weeks in reality, and the last update was absolutely stunning!) and with 3 drills going, 200 more holes to be drilled before Christmas,and a market screaming for news, I think there is a back log of results that will be presented shortly. Or to put it this way; it makes no sense not having gotten any assay results back for almost 3 weeks, when taking into account the amount of drill core that has had to come out of the ground since the last update on May 11.
I think we will see new reports shortly, and definitely well before June 11. I also think we need to realize, again, that hey Gold is at $1700 +! US! That is a HUGE gain since last summer! It will definitely bring the share price up, once a sale is on the table. Is that the expression? Never mind, you get the idea.
Meanwhile I will enjoy my stack of physical and just wait for what will happen. We will see dips, like we just did, but we have enourmous upside ahead. Make no mistake about it.
Hermod - off to work.