Post by
metalhead666 on Dec 12, 2022 4:23pm
I'll give you a couple more tips....
NEVER EVER fall in love with a story. Especially with miners. That also holds true for the past story as well as the present and future story.
Too many of you are bitter because you paid too much, didn't cut your losses soon enough and you have to find some satisfaction bashing management. You need to be a machine not an emotional creature.
I hate miners. All of them. Especially gold miners. They are a group that eats its seed corn. They plow back all their profits back into the ground and exhaust their resources looking for more of something no one really needs.
That being said....there's no group that can make you as much money as fast as gold miners when all the stars align. Which is why I play in this sandbox....for a time...a short time
Gold mines are NOT investments they are speculations. The come into and out of favor at regular intervals but they are constantly depleting, constantly spending, constantly running into problems, invent nothing new, exploit no new markets and have a great tendency to outright lie.
You have to evaluate a BET not an investment. This is part art and part science. You have to get the gold price right, you have to get the project right and most importantly you have to buy right. That generally means when they are considered worse than trash....like now.
You can't let the past cloud your thinking anymore than you can let your dreams of riches cloud it.
You will never buy the absolute bottom nor will you ever sell the absolute top....be very happy with the 60% in the middle
Do not marry these things. They are all trades. They have an entry and an exit.
Do not buy explorers. Buy royalty names or dividend payers or like me, development stories with clear paths to production. Drill results are exciting but they are not mines and may never be one. You will lose far more than you win with extreme speculation
As far as MOZ goes....it will rally come the new year. It will track gold and gain in value as it nears production and constuction milestones are reached. There will be a jag of people who sold for tax losses who will rebuy in the new year. The stock could jump materially in a short amount of time
It's not my favorite play....I will sell it long before production and never look back....you should never ever look back. You make your buy, you set a stop where you won't go beyond, you have a target in mind based on valuation metrics and when hit you say adios.
There are lots of better "investments" out there than gold miners. These opportunities come around every few years so you use them and then dump them....when they're hated you buy, when they're loved you sell. Average into positions.
I'll tell you when I've cashed in......for now holding I-80, Skeena, Artemis and Marathon...nothing else interests me except 4.5% Tbills which I have a lot of.
GL...use your head not your heart. The "market" doesn't care one bit about you or your money. Don't be stubborn, don't be married to any thesis, change your mind a lot as things around you change.
Comment by
zack50 on Dec 12, 2022 6:00pm
Whoa! I bet you can breathe easier now... for sure, that was a lot of weight on your chest.