I've just read some of the following article I found referenced on the Kitco forums.
I doubt I will be buying any more shares. I think for the time being I prefer something with zero risk of manipulation.
But just in case I do feel the urge to buy shares in a gold mining company, can anyone recommend a good, safe one preferably in a stable jurisdiction (Canada, Australia...)?
for Canadian juniors you might consider CGR, MEAOF, or BRD which are all producers or will be very soon, or for a Candian junior explorer I like is CRCUF which has stellar managment and a nice land package, all of the companies listed seem oversold to me, as is the entire sector
What's wrong with this picture?
Oh well, we will snap back with a vengeance when the hedge funds rush to cover.
And there's nothing that is safe. All the markets are manipulated. You can go all physical, or buy CEF, PSLV, and PHYS, those may be the safest, but even those are subject to manipulation.
American Bonanza is in a quiet period until they hit design rates. Could be a winner.
American Bonanza Gold Corp
Thanks for the articles. GOLD and SILVER are the only MONEY that protect against inflation. Here is a simple way to look at it:
In 600 BC (King Neb.) a 1 ounce gold coin would buy you 350 loaves of bread. In 2012 AD (King Reality TV) that same ounce of gold will buy you 350 to 400 loaves of bread (the good stuff, not walmart crap). THAT is 2600 years of inflation protection!
FOR A DEEPER LOOK on gold, these guys published a report called In gold we trust:
re: a gold mining company, ... a good, safe one preferably in a stable jurisdiction
SilverCrest Mines - 75% gold, 25% silver (in revenue) - Canadian company mining gold (and silver) in Mexico
The Santa Elena Open Pit mine completed development (Q2-2011) and reached stable production by Q4-2011, -- only 2 quarters of positive earnings (Q4, Q1) reported so far, (about to release Q2 earnings (already released Q2 production)).
They are expanding their open pit mine with an underground access and CCD mill (from their last production statement, it sounds as though they can self fund via gold revenues). They are projecting peak revenue/profits in 2014-2015 timeframe once the underground expansion is completed, and the CCD mill is operating. Exploration upside possible via their La Joya property.
Largely undiscovered, as the mine only started producing around 2011-Q1 (prior to that, they were burning money).