IVN, "sitting on one of the largest gold and copper mines in existence", sitting on the border with the largest consumer of gold and copper in the world, is acting PATHETICALLY weak in light of $1,200 gold.
Unbelievable... They'll be producing over 500K ounces of gold every year, not counting Bakyrchik, and are within 3 years of production, sitting on a deposit the size of Manhattan.
Bakyrchik is already producing gold, but on experimental scale. If they can't get it up to real production, why not sell the huge deposit? It should fetch upwards of half a billion easy with these gold prices.
WTF is going on with this stock?
No. Would only cover my strike when in the money...as I've seen they never have any premium...then determine where it could go selling a higher strike. Imo...we will move slowly...unless there is a parabolic move in gold. cheers mw
Going a little further...the have the big tax on commodities until 2011...they are a ways from production...this is another BHP imo in the making...big, and now slow-moving (fast, big-money days gone)...in the long run going to 50...sell calls and hpoe that they go "in-the-money"...lol...nobody listens...that's why it works...cheers mw
gregg. bought 25,000 at an average of 1.80...sold 15,000 from 5 to 6.50...madea bunch...still own 10,000...never give them up...collecting a "divi" by selling calls every 3 months...every year (theoretically) equals my entry price...while retaining a much more valuable assett...life is good.
I agree it is pathetic, which is why you should sell or just live with the pain like the rest of us. The one thing almost everyone seems to forget is that IF they chose to, they could sell minerals today for future delivery. I suspect that they don't want to do this, because they are betting gold will keep going up. good luck to us all.
IVN will not be producing gold for two years. The major mine is located in Mongolia (questionable government plus harsh conditions) which requires two billion plus investment to start producing. The only real plus prior to production is RTP may buy them out. Think of this as money in the bank but remember banks are failing every day.
Grassberg mine is located in much worse conditions and is under control of a more corrupt gov't.
The only thing I agree with what you said is that this mine will be built only in 2-3 years and requires large upfront investment, but only due to the size of the deposit.