RE:FallingSuspect it was profit taking with such a quick rise and in anticipation a correction in gold price. US jobs report and Russia claiming a COVID vaccine are taking the wind out of the sails for gold, but I still like the overall conditions that support a sustained high price environment that will benefit CG. A good spot price, production in order of 410k ounces for H2, and continued low AISC will translate into great earnings in the quarters to come.
I would actually like it if CG SP just plummeted in a disproportionate way to gold price to create a buying opportunity. If it gets substantially low enough perhaps management would consider some share buy backs given they aren't spending capex on 2 of their pipeline projects and should be using avaialble upcoming FCF for something. Suspect the SP won't get low enough for that to happen, and I wouldn't support doing this unless CG is substantially undervalued, but perhaps the Board will identify a SP ceiling target at their September meeting, below which buy backs would occur.
Appears we're in for a significant drop today.