Q: Hello,
I have shares in Novagold, my first and only gold purchase. I'm currently losing about 30%, I realize the whole sector is down and you have advised waiting until it bottoms out. I purchased these shares because of their Galore Creek & Donlin Gold projects, but it seems like it will take a very long time for development, if it does move forward. Projected EPS for the next few years is negative. I wasn't familiar with the sector and didn't know that this would end up being a very long term hold. I'm wondering if it would be better to dump the shares instead of tying up my capital and reinvest later if prospects look better.
I have shares in Novagold, my first and only gold purchase. I'm currently losing about 30%, I realize the whole sector is down and you have advised waiting until it bottoms out. I purchased these shares because of their Galore Creek & Donlin Gold projects, but it seems like it will take a very long time for development, if it does move forward. Projected EPS for the next few years is negative. I wasn't familiar with the sector and didn't know that this would end up being a very long term hold. I'm wondering if it would be better to dump the shares instead of tying up my capital and reinvest later if prospects look better.