down ~45%, yet miners may fall more if metals sentiment worsens.
Equinox gold’s large drawdown makes it tempting, but the sector can still drop further if the stock-market roll-over hits.
The stock is cited as being down around 45%, alongside the broader idea that beaten-down miners can become interesting to add. At the same time, he stresses miners can keep sinking due to panic-driven liquidity withdrawal, even when the long-term secular gold backdrop remains intact.
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