In 2 Days, Get ready for it (but watch your step)If history repeats itself then in just 2 days before the annual Q3 Revenue is released after hours on Thursday evening - this stock should go up and stay a bit higher for at least a few days...but this is not a normal time period. Remember that.
Eldorado had experienced a fantastic Q2 report and the Q3 will also be good due to higher gold production output & higher gold prices. But what could make it go from being a good miner to being a Great miner is what most investors have been waiting for and that is ...simply ...full Greek government permits/ approval to operate it's mines that have been literally 'held up in Greek political red tape' for years - yes...years! A New democracy led Greek Parliament is pushing change through parliament and we could hear of positive results or at least a positive indication of it happening before October 29 - 31st or soon after.
If Greece accepts Eldorado's revised plans/ intentions that includes a promise to hire more local workers, provide financial/ community help to the surrounding towns around Skouries, increase the Greek governments coffers thru taxation and reduce their environmental footprint then the stock price may not only rise on news but stay higher - especially after Financial analysts re- rate Eldorado as less of a geo-political risk and a long term shiny star on the rebound.
Still, we face some negative vibes too. Pandemic woes are re-surfacing, Gold is trading sideways @ US $1900 'ish' and Joe Biden vs Donald Trump is in full swing...not to mention that strange things have always happened in October since the crash of 1929 and rapid electronic trading can now clean out our investments in minutes, not days. Lets face it - if it was not for Government handouts then we would not only be in an artificial engineered recession (we are) but a full blown out depression.
But as one writer said, even the world's best gold stock can't appreciate in price, when gravity is pulling it in the opposite direction. Some feel Gold could dip again (1800 to 1850 ish) before catapaulting higher, maybe beyond $US 2000 AGAIN. So Stay hopeful but remeber - as this goes up, plan for taking some off the table for a rainy day - and re-buy again while waiting in the puddles
Cheers to the patient investors