Seems like Coeur made a smart investment in Pershing Gold a year ago, considering how well that stock has held up in this market (especially compared to its own performance). I think it must be due to it being a near-term low cost producer that will still do well even with low-cost gold and does not need much cap-ex to get there since it already has a built and almost fully permitted mine.
I wonder if Coeur is planning any additional investment here? Seems to make a lot of sense considering its proximity to Coeur's signature Rochester mine for which it has announced expansion plans.
I think Coeur's management did a terrific job spotting what turned out to be a hidden gem of sorts (in this market especially).
Another example of why I have complete faith in Coeur's management and am not bothered by the day to day price. I'm in CDE for the long haul alongside Krebs and Co and see the current price as nothing but a very cheap opportunity.