We met up with Auryn Resources (ticker AUG on the TSX and NYSE) Executive Chairman Ivan Bebek at PDAC in Toronto. Stocks were slammed, and may have stabilized, but volatility will remain high. On the Corona Virus, while it’s serious, panic is uncalled for. Perhaps it’s been overplayed by the media. And let’s not forget it’s an election year and the market was obviously topping. While virtually all markets sold off, copper was stable, which is a very bullish sign. Gold’s big move down was probably due to margin calls. Several large banks are calling for $1800-2000 gold by the end of 2020. QE and rate cuts are coming coming. And that’s good news for gold and for Auryn Resources, which may explain why Ivan was able to raise multiple years of working capital last week. Add to that the possibility of splitting Auryn into 3 companies and 2020 could be a bull market in the company’s stock as well.
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