wait for sheeples for panic-sell (perhaps due to stop-loss triggered, or just delayed reaction when they finally hear the news that their stock dropped), probably better entry ahead
I apologize but I told andy hoffman in an email about abx when I searched that he did many stories on abx in the past and I said do you know anything about ABX really?
how about this wikipedia tells of the mines abx owns but doesn't
and also gata going against abx and gold/silver bug communities dont like them for their manipulation of the gold and silver markets with their bankster friends.
despite you do realize the gold bug community hates ABX for their hedging of gold and silver right?
mainly because they are associated with jpm and such
and also wikipedia even says abx doesn't own the chilean mine JORGE of MSX owns it.
news just out says what we know. chile is being a bunch of pricks. most of the important parts of the project are on the argentinian side and that should bode better than a complete failure. remember, chile loses out on revenue if they don't solve this issue
the issue is no visibility. Even a 3-month delay into '15 for PL with another couple of hondo in spend is big risk. At sub 1500 gold, leverage ratios reach 3 and credit agencies/facilities start to quake. The exceptional leverage to gold is still there. They've already borrowed 2bn on their facility but need 7bn over next two years in fresh capital. Where does it come from? Asset fire sales w writedowns? Div Cut? Equity? The only hope are the value pickers but there is nothing in the garage for them to see....it will get much uglier when they are forced to hedge....
You are aware all the Gold is on the Chile side are you not? The Argentina side is a bunch of lies, it's a 4 billion factory to nothing. Barricks commitment of 8.5 billion was only a bribe to the governments to keep this fraud going IMO. The whole Pascua Lama disaster is due to one simple thing, Barrick never owned the titles to the deposit of Pascua on the Chile side, Argentina was invented to keep the fraud going in around 2001. The dispute over titles goes back to 1996.