Why was there such a drop today? Bernanke has not set a date on winding down stimulus and spot gold has held quite well? 5% drop?
^^^ That's way too macro a view. Gold stocks are not the metal and many gold stocks fail whatever the metal price or what the fed's saying. Not a specific SLR comment, I don't know about it, but don't like any gold stock anymore that's having 'issues'.
More sellers than buyers I guess Keep in mind that for US holders of these stocks the stock price is falling just because of the drop in the AUD
I've only had a quick skim through the quarterly and reserve reports released Wednesday. The good news seems to be that costs are down ($1090 all in sustaining) while production is up and forecast to increase further. Bad news was that with the low price of gold they have suspended development expansion and a lot of exploration, so people who were looking for exploration upside may have sold out - That announcement is not really a surprise though so I thought it would already have been factored in.
The entire gold sector has had the shit beaten out of it Expect all kinds of moody swings investors are still on edge and traders jump in and out for the swings I have seen bigger insanity though During the 2008 plunge TRY was selling for less than cash value for a while - the mines were free
I would say this is a good thing, as they have already been very aggressive with expansion and exploration.
I am interested in this stock but I don't think I will sleep well at night if I buy it because it makes some serious moves in small time frames. To all those who hold this stock I salute you......and eventually hope to join you
^^^ Looking pretty good. Quite tempted. All goldies positive today. SLR best performing on my list so far today. 3 month Head&Shoulders reversal pattern going to convincingly break through? Price short term positively trending now