Lets face it. Gold is in a downtrend and if we are at $4 with gold at $1280 then what will we be when gold hits $1000. Around $2 would be my guess. I am not worried about the short term. But how long ANV can survive until precious metals turn around? It wont be in a month but more like one to two years. Precious metals in a downtrend don't just turn around and everyone decides to start buying again a month later. I am long with 9000 shares at $5 and will average down, but not yet. Gold will not turn around soon and we will likely see $3. I have patience but can ANV survive two years of gold at $800 to $1000? Thanks for your thoughts.
The price action and short interest numbers suggest quite a few people are betting on a bankruptcy. But when ANV is so deeply discounted on a price to reserve basis, all it really takes is a suggestion of a sale or a buyback for the price to snap back to normal valuations. It happened to aurico gold last year when the market repriced the values of its assets after Carlos Slim bought Ocampo.
Your post is silly. They have been around 30 years. Remember gold at $300 they did ok and they will do incredible once again when the fed devalues our dollar over the next term. Gold to 1700 and anv is an easy double down bet.
From a chart prospective, we are near a double bottom now, so we could see an uptrend from here soon IMO. With the government shutdown and the media portraying that the world is coming to an end if we don’t print more money to fund the government/regime/obama care, gold should spike considerably this month and through October. You need to research gold prices December 1995 during a government shutdown then. Gold spiked considerable. I believe history is about to repeat itself. Also, most folks missed when listening to ANV’s Q2 recorded conference call, they announced “record" production in July. Sounds like, they have found a way to produce more gold and silver with fewer employees.
You sound pretty sure of yourself with all those GOLD price targets, so why don't you know if ANV will go BK?
I'm curious if you predicted GOLD to more than double when it was in the 800-900 range and 1900's, or if you predicted the fall thereafter? Hell ANV was in the low 40's before GOLD tanked again.
Clearly "ALL IN" costs per ounce have gone up since GOLD was 800-900 and many miners are losing money, or barely breaking even. However, mines are being closed, scaled down, or even sold as mining companies continue survival mode.
SO NOW WHAT? It's called supply and demand. We are seeing huge production cuts from the majors to the miners reducing supply in a big way. However, demand is still strong and in time demand will decide the price per ounce of GOLD. Trust me, it's not going to take 2 years for GOLD to bottom, not even close.
I haven't predicted anything because I haven't traded in gold much. Your right it wont take two years for gold to bottom. My guess is maybe 6 months to $900 to $1000. Then it will stay in that range for probably imo a year or so. Like I said big money isn't going to decide to throw a bunch of money back into gold anytime soon. They are going to short this for awhile. Money is flowing out of gold right now. I do know trends in precious metals are longer term and hoping ANV can survive two years of lower prices then what gold is now.