Loading ...She’s Gonna Blow
Some platforms saying the gold price is around $1600, others closer to $1700. That is a massive discrepancy. GDX and GDXJ have been seeing big differences in the quoted prices too. Hargreaves Lansdown were offering about $21 to sell GDX yesterday, when it was around $26.
This is bad.
about an hour ago, KITCO had gold up almost 7%, then it crashed down to only up 2%, that spiked back up towards 7% now back to 2.8% Crazy!
Real; crazy action and lots of discrepncies at sites.. Around 8 EST Kitko had Gold up 114 USD dollars. And other sites had it up about 35.
GDX may drop as gold miners are forced to cease business operations. The refineries will have to shut also. Explorers cannot drill either, assuming they have any $. Kill the patient to cure the disease.
Interesting Scenario Spock
Have you seen this proposal within the industry ?
Some explorers/developers have lots of cash and do not have to come to the markets for at least 1-2 years.
TMQ, MAG
MAG is a near time producer so it can be impacted if it delays production for some months. Development companies like MOZ, NHK, CKG, ITR, LGD, KOR, MAX, SBB are all sitting with 20-30 million$ cash, so at least 2 years of drilling/development. These are the plays that will survive.
“MAG is a near time producer so it can be impacted if it delays production for some months” Yeah careful… share price has only doubled in 10 days…LOL
How would that be reflected in the individual mining shares? After all, they are still sitting on the only supply…
Only highly indebted miners will suffer and will have to raise equity, others will survive.
“She’s Gonna Blow”…I always enjoy that when that happens…LOL
Keith Neumeyer of AG talks about this on Kitco interview I posted last night. He said he is keeping his 3 biggest mines open because they are in the middle of nowhere.