Post by
Horsesmouth2U on Aug 16, 2024 4:27pm
FURTHERMORE
New yearly high on Barrick,Eldorado and Others today. Equisnot still $1.50 off its yearly high and that is with Greenstone producing. Such a POS!
Comment by
XBC333 on Aug 16, 2024 6:32pm
Bro...Stop comparing like that. It's normal for the stock price not to go up as much even if the actual price of gold is up. The all-in sustaining costs (AISC) per ounce sold increased significantly to $2,041, which affects profitability. Even though the company realized a higher gold price per ounce sold ($2,328 in Q2 2024), the increased costs are eating into the margins.
Comment by
XBC333 on Aug 16, 2024 6:38pm
Positive investor sentiment also plays a significant role. If investors believe that the company will continue to benefit from higher gold prices without facing significant operational challenges, they may be more inclined to buy the stock, driving up the price.
Comment by
XBC333 on Aug 16, 2024 6:36pm
While rising gold prices are a key driver, the mining stock will only go up if the company can effectively capitalize on those higher prices by maintaining profitability, managing costs, and meeting production targets.