You could be right silver. Gold mining is a pretty tough business, especially in the current financial climate. However people who invest in these kinds of companies are (or should be) aware that it is all highly speculative.
Holders can sell out now at a substantial loss or take their chances. All is not lost yet. The announcement was fairly clear that the decision to wrap up at the moment was due to the fall in pog and prevailing conditions.
There is gold there at Kavanagh and also at Groundrush/Central, we know. In the current conditions not enough to justify spending money on developing it. These conditions may change - that's what we're betting (yes, gambling!) on here. They may find more if they decide to do more proving up. Alternatively, they may just wait until conditions improve. The odds of the pog going back up are, according to some commentators, quite high as there is apparently a shortage of physical gold compared to paper notes. You just have to place your bet or hold and wait and see.
I'll be hanging on for the time being. Bottom drawer it is, but not yet time for further panic imo.
TAM Price at posting:
5.0¢ Sentiment: Hold Disclosure: Held
