SSRM: Only a gold stock… [w/ edit]

SSR Mining stock included in Russell 1000, gets clobbered

[edit] Thanks to subscriber MM: “shut down main mine due to cyanide leak into water table.”

I can’t find any other news other than SSRM’s inclusion in the Russell 1000 index. Only a gold stock could put on this kind of Keystone Cop routine on a positive news event that would drive up most other stocks from normal sectors. And yes, I hold it.

As a side note, if you look closely you’ll see a one penny gap left from October 2021 that is closed today. I mean, could it really have cared that much about a penny? WTF, man?

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This Post Has 9 Comments

  1. Patrick Brennan

    Cyanide spill in Turkey, per someone on Twitter

  2. Gary

    Yup, got it guys. Thank you.

  3. Gary

    FYI, I took a manageable loss on it as it hammered in-day, and also took a reminder that royalty companies carry a fraction of the risk that miners do. SSRM replaced with a leading royalty. I did not care for the Turkey aspect to begin with.

  4. John Dentice

    Talked to broker (Sprott). It was minor and last week. Over reaction.

    1. Gary

      May well be. Mining is always going to have these potential hazards.

    2. Gary

      Happy to get that hammer candle and move on.

  5. Barden

    I would guess that royalty/streaming companies in their turn are only any good as long as there is a sufficient supply of viable deals available to collect royalties and streams on.

    1. Gary

      Agree, but again it’s watered down risk as compared to the miners, who can get shut down by a single spill, leak or election.

Comments are closed.