The wholesale liquidation of this stock has been underway and will continue until the company is forced into BK...This will mark the bottom in the gold price...That wont be a coincidence.....If you want to buy a miner then buy GG..............They have no debt and havent committed fraud....Barrick cannot service their debt with gold under 1400 an ounce and has committed a multitude of criminal acts...... ......
you're right. lots of volume PM at 14.03. I think they should find a buyer at 30 or so and be part of a bigger firm. then solve problems. This might happen one day. Just keep buying more and wait for that buyout day.
Yeah, Ive been short from 39...If I listened to these shysters writing for Morningstar,The fool, seekin alpha....IDE BE BROKE....INSTEAD My eyes are wide open and Ive known for over 15 years that The skunk at the top of this fraud will be crucified with his own words and stake.............!!!!!
Over time, the cost of mining gold has risen because of increased costs of labor, materials, and energy. In addition, most high grade ore has already been mined so miners must now extract gold from lower grades, which is more expensive. There are two ways to measure the cost of recovering one ounce of gold. The first is the cash cost which is just the operational costs of mining. A better measure is called the “all in cost,” which takes into account the mining costs plus refining, administration, taxes, royalties, etc. The all-in costs are generally about 50% higher than the cash costs.
The all-in costs for the three largest gold mines are projected from their annual reports as:
•Barrick Gold (NYSE: ABX): $950 to $1025 per ounce
•Newmont Mining (NYSE: NEM): $1100 to $1200 per ounce
•Goldcorp (NYSE: GG): $1000 to $1100 per ounce
The "all in" costs at Barrick DOES NOT INCLUDE OVER A BILLION IN INTEREST EVERY YEAR TO SERVICE THEIR DEBT..........Dont get hoodwinked by this companies lies.....Besides their debt the company has committed securities fraud to the tune of 10's of billions of dollars.........This stock is heading into a forced BK very soon..................