NCM 0.43% $32.73 newcrest mining limited

why haven't aus gold stocks moved down?

  1. 22,691 Posts.
    There will always be adjustments of course but the stocks which are close to production were heavily oversold and too cheap IMH compared with their overseas explorers.

    Good examples are NCM and BDG. So, there was no reaction once the gold price went down further.

    However, the Canadian explorers haven't moved much either in the last 2 days.

    We need to consider of course that although the gold price had declined, these companies may have increased their asset base or their progress with expansion, NCM being a good example.

    There are still large companies with cash assets waiting to swoop down on a nice morsel with more than say 7 mill ounces of gold.


    Gerry
    Holds NCM and BDG
    Readers, please do your own research and you decide if and when to buy, hold or sell any stocks.

 
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