With gold prices at record levels its especially disappointing that Silverado Gold Mines (SLGLF) has performed extremely badly for us. Our patience has come to an end and so we are now reducing our holding to no more than a token investment. The Management team have not delivered for various reasons and the stock price languishes in the basement.
With every investment we have to ask the question; could the cash be better deployed elsewhere and in this case the answer is a definite yes. Most of the gold producing sector is moving higher so whatever we get for the stock will be re-deployed elsewhere.
Although we have made money on this stock in the past Silverado has fallen from grace as above chart shows, so we have to face the music and move on.
Have a good one.
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