Where are we at? There is no doubt SEA and TUD, and the Amigoes are all sitting on a massive viable copper/gold project with several targets for open pits and block caving mines. And lots more targets at Treaty Creek. And it should all be consolidated for economy and efficiency.
We are all at the mercy of much bigger forces - the outcome of hot inflation, the Ukraine War and European energy supplies, the Chinese economy and their Covid problems, less so Covid for the now highly-vaccinated developed countries, although, who knows whether pandemic is done or still a threat to normalcy.
Do you bail and go to cash or bullion or sit tight on underwater equity positions? I have little appetite for new positions but TUD/TUO to me have sufficient quality and ability to continue to fund development progress I'm gonna sit tight with a belief they have great upside, are severely undervalued, and as they say in Vegas "let it ride". But in the back of my mind given the possibility we may be heading into a central bank driven recession, and the public has not yet decided gold is a refuge or hedge for a stock and bond market in turmoil ... it may be a few years.
Always mindful of the old "be right, sit tight", tempered by Keynes' hard-learnt observation that the market can remain irrational longer than (many of us) can remain solvent.
Gold will have its day. It is so cheap today, even with rising rates it is still a valuable portfolio hedge. Copper - the premise is obvious to all, the only question is timing of structural shortage and demand for new energy, new electric vehicles and infrastructure booming.
If the posturing in Ukraine could result in a surprising diplomatic solution and cease-fire, and by some miracle central banks engineer a soft landing end to inflation (which is a possibility if European energy and food markets are re-stabilized) ... happy days around here.
Good luck. Duck and cover!
cg