Club Mulgoa

Friday, April 24, 2020

B2G

Many years ago, I invested in a gold explorer called Papillon Resources.  It found lots of gold in West Africa.  And then a big Canadian gold miner pounced on it and we are now left with holding a Canadian stock!

And then I bought another stock with gold in the Philippines.  And the same company pounced on it too.  So I am left with TWO same Canadian stock!

Luckily, it is gold!  Unlike my Aussie gold stocks, this one has gone to its peak.  That makes, based on valuation, the Aussie gold stocks are relatively cheap!  But I won't buy more of them unless they dip.  But gold price is predicted by Bank of America to hit USD$3000 per oz soon.

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