Moriarty: “Underestimating Eloro”
Bob Moriarty
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Jul 12, 2021We seem to be in the midst of a minor correction in gold stocks. Gold goes down a little and the gold stocks go down a lot more. It must make sense to someone but not to me. In any case, we are due our typical summer low soon as I talked about in an interview recently.
We are moving into the strongest period of the year for the general stock market in the next few weeks. I expect the S&P and NAZ to shoot higher on the DSI, now 84 and 85 into the peak followed by a decline into September/October and a major crash. By almost every measure, the overall stock market is at peak stupidity. Once it starts going downhill, nothing will stop it. A lot of paper resources are about to disappear permanently.
Eloro Resources (ELO-V) put out a brilliant press release last week that clearly no one understood. The stock dropped by 10% over the next few days and is down about 30% from its all time high in February.
CLICK HERE to read the full article over at 321gold.com
I feel that Eloro will be another ‘Novo’. A lot of exitement at the start and then the worrying begins.
I don’t think so. Eloro looks more like Potosi’s Cerritos Rico which is a few miles away and has been mine from the times of the Spaniards to today. There is a whole heck of a lot of metal there and it seems that it will likely be economic to mine. The jurisdiction is the biggest risk IMO
Thats what I meant, with Novo it was the exitement of the discovery before investors realised the imminent technical problems. With Eloro replace technical problems by political problems…
The current Bolivian govt seems resource co friendly. Let’s hope they see how much money they will make off of it by allowing it to be produced efficiently by an experienced mining co