RE:RE:Confidence in NGD Nice to see the great ER from NGD. Very impressive. They finally turned the corner imo. New CFO, great earnings beat, generating fcf, etc increasing production second half 2024, decreasing cost of production, buying back the teachers pension portion at new afton, gold price increasing over $2,500, interest rates coming down sept 2024 in the USA, debt crises at unprecedented levels in the USA, etc, etc. This is the place to be folks
FYI- I have been holding NGD since about 2009 at the peak of the last gold bull run. Bought my initial stock around $11 or $12 cdn. I have been in the red about 15 years. I avg'd down heavily at under $2 or $3 cdn. Today I own 33k shares of ngd at $3.90 cdn. I never sold a share as I knew all the BS quantitive easing has severe consequences.
The job numbers this past week from the USA says a severe recession is coming and things are going to get a lot worse. Gold is starting to make its much anticipated comeback now. Expect the gold producers to follow the track record of the bullion by about 3 to 6 months. Miners always lag at first but then take off. Take a look at the last gold bull run around 2009 to see what happens when the mania phase hits. It's coming. Expect NGD to easily surpass its last $14 cdn peak.
Many still have no clue about gold and are still chasing the overpriced NSDQ tech names who have already had their best days and are starting to crack. Money is going to start flowing back to the safe havens like they always do in times of crises.
The stock market is a ticking time bomb. It's long overdue fir a serious coreection. Stay with defensive stocks during times of crises. Stay with dividend payers and gold.
Ron