Post by
tobinator01 on Nov 03, 2022 2:37pm
Relax Folks
The entire sector is getting sold down. The HUI was leading Gold in October and I suspect many traders were buying a ton of mining shares with the expectation of the US Fed pivot.
As for Equinox, they reported AISC of $1749. Right now they are pulling 540,000 ounces out of the ground at a loss. This market is absolutely slaughtering high cost gold miners. Aris combined should be below AISC of $1000.
Yes, I would like to see more out of the management team in terms of operatonal guidance etc. My guess we see the Q3 combined report within the next month and as noted by other posters exploration results and reports are due out by year's end.
The stock was basing and going higher just three days ago. The biggest near term development is watching how high the US dollar goes on Powells jawboning. If it runs out of gas at the USDX level of 113, gold will stop its slide and the sector can recover from the shock and awe provided by who just might be the worst US Federal Reserve chairman in US history.