NE1 with a lick of sense knew the $Ca rise would have negative affects
i got my experience with the south africans when the rand appreciated so greatly and goldfields and harmony bottom line suffered greatly. i have been saying for the last 2 yrs it would happen in canada also when the $ca reached par or greater with the dollar. i am not advocating selling nova, gold corp or any other predominately canadian production company. when gold is north of 2000.00 it wont really matter. however, on an interim basis, the best places to own shares is with miners with operations in mexico and argentina. the brazilian real appreciation will negatively affect companies like yamana. i could go thru several companies, but will leave that for you to do your own DD. FOR MY MONEY, i am searching for mining operations in the countries mentioned. mexico has many from which to choose.
The closure is based on current gold price projections, which are around 700 oz. for 2012, while 2000 oz is more realistic. Nothing has changed long term for NG, but the market sure likes to kick folks off the bull who have short term thinking.