From Port Phillip Insider (Australia) by Shae Russell –
Right now, gold is trading at US$1,315. Which is only US$3 per ounce higher than what it was at the start of the month. The short lived rally to US$1,350 10 days ago gave the gold bugs hope…but without a rate hike on the table from the Federal Reserve, the price fell.
Just because there’s shiny metal in the ground, doesn’t mean it a profitable company.
Nobody knows this better than Jim. When I asked him his thoughts on gold mining stocks in Australia, he told me:
‘Every single explorer, developer and producer are all very different from each other. You have got to take one company at a time on a case by case basis.
‘There are some excellent miners out there. And there are frauds. There are some solid proven prospects…some highly-speculative situations…and then there are situations where it’s clear investors will almost certainly lose their money.’