Price of gold has moved, and is now approx 953. What is LGL doing? Nothing nothing nothing. Still 2.86. When the price of gold was 880 LGL was over $3.00. What gives?
This stock has been a real dud. Whenever the price of gold jumps, the share price founders. Whenever the price of gold or the market falls, the share price falls in sympathy.
I thought LGL, now that it is totally unhedged, would be a good way to play the gold price. Long mine life, low cost producer etc. But NO!
It seems to me the share price has this big overwhelming seller standing over the top. Anytime the price looks to move, the selling just gets stronger.
My gut tells me we are on the cusp of a big gold breakout...finally. The real question is, Will LGL participate in this or not???
Anyone care to guess why the share price just continues to wallow?
Ann: LGL Ballarat Announcement , page-6
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