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GAMCO Global Gold, Natural Reso Message Board

  • noquit4me noquit4me Jul 3, 2013 8:57 AM Flag

    Oil prices and GGN

    Since GGN is about 40% in energy shouldn't the higher oil prices (EGYPT) equate to higher GGN price? I'm long and staying long on GGN. Been there quite some time. Good Luck!

    Sentiment: Hold

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    • You are correct but today is a slow day with the market closing at 1:00 PM. Nonethelss, manegement has announced $0.12 monthly dividends for the three months ending September. I don't know if you'll see improved cash flow on GGN's financials for the 2nd Qtr ending June 30th, but IMO you'll see a nice increase in the third quater which should increase the book value as well as the pps of GGN's energy stocks. The rise in capital gains may lead to an increase in monthly dividends; many people don't know that close- end funds are allowed to distribute capiltal gains regularly.

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