…it doesn’t really matter what the US Dollar print for the price of gold is.
Wesdome Gold (WDO.to) runs its books in Canadian Dollars, its workforce is paid in Canadian Dollars, its costs are in Canadian Dollars, its sales are in Canadian Dollars and its share price is in Canadian Dollars. So gold is down in USD terms? Okay, so is the Loonie and look at what happens as a result above. Anyone who thinks WDO dropped under $3.00 today because “gold was down” is looking in the wrong place and falling for the same hypnosis as those who sold, the Kiena numbers are sparkling and even though it’s up sharply from the recent $2 line, there’s tonnes of upside left to run. Don’t say you weren’t warned.