Sold most of my NEM and all of FNV at good prices over the last couple of days. I see more and more operations announcing shut downs or partial shuts downs of operations....AGI and AGM...for example....WLBMF has ceased its exploration activities.
I have mixed feelings about the move....lower production will result in lower earnings. Gold in the ground will probably get valued higher. What difference in the long run does one month of curtailed production mean?? My thinking was and is it will mean something, especially if gold takes a 50-100 dollar tank....In WLBMF's case I think they are one good drill result away from a 50% move up....and evaluation of what has been drilled could very well be on going. Rationalization - I know....
Once a fiscal spending plan gets hammered out I hope to have increased my PHYS and PSLV positions further. I suspect premiums to NAV will be seen in those trusts in the not too distant future...possibly spectacular increases. The gold and silver is there and redeemable in size, 5,000 oz, in the case of PSLV....$70,000 worth....