The GDX top 25 modestly grew their gold production overall, even though some larger majors struggled. While costs still rose on inflationary pressures, they stayed far below prevailing gold prices making for hefty profits.
$HUI -- This week has seen a takeout of the pattern’s neckline and the 200 day moving average. The bull pattern on the daily chart above could rally all the way to its measured target at 305
11,478 ounces of gold produced at $793 per ounce all-in sustaining cost, $20.4 million net sales, and a $16.6 million increase to its treasury to $44.3 million.
Gold-stock prices hadn’t been as low relative to gold since emerging from March 2020’s brutal pandemic-lockdown stock panic. The mean reversion higher and overshoot..
