There is nothing to say but it is a poorly run company with deteriorating assets. I have most of my money with proven leaders. I have learned my lesson. I am only betting on good companies with quality assets and quality management. There really are only a handful of those out there. Their share prices show it too.
biggest mistake people (myself included, although Im doing better now) is trying to trade this market. Thinking they "know" when to sell, when things are reversing. But the big money will be from those buy and hold types that sell after years in a bull market. This is still a baby bull. It hasn't even hit puberty. They when everyone is talking about gold/silver that is when to sell. You will be kicking yourself when this is multiples higher. Im not saying to buy or sell now, Im just saying that gold and silver look to be good investments for quite a while.
I just don't see copper doing that well in a global downturn. There seems to be a semi glut of copper right now. And their gold is a shared property (with Freeport) in Serbia. I know Serbia is touting how safe they are but it just gives me pause. Good luck. I think there are others out there that look a bit better. I will say that their books look very clean. I mainly into pure gold/silver/platinum right now.
I can't blame you. There are much better gold stocks out there and if I were smarter I would have bought others. Most of my IAG is in options. I am close to where I will be closing out that trade although the short term cap gains will kill me on this. I will write it off against my losses on gold stocks over the past 4 years. One of the good lessons over the past 4 years is knowing when the bull is done. I am hoping that I am smarter and will get off the train next time.
I am not familiar with NSU or PLG and I am going to check them out. At first glance they look interesting.
Hope everyone survived the 4th intact.
This is a very good question because nobody really knows. I do think (caveat emptor) that gold will eventually top out in some sort of feeding frenzy near 3500. I say this with no real basis other than seeing how gold does tend to move in patterns and if this matches the 1970's the next move will almost double the previous top. My gut is that there is a lot of money to be made in the miners, but buying and holding is the way to go. I think that electronic trading has made it too easy for all of us to jump in and out, letting our emotions control the way we trade.
There are a lot of very real near term issues that are coming home to roost and I don't think the next downturn will be pretty at all. China's housing bubble, Japan's insatiable apetite for debt and their aging population, and the US's debt entitlements/debt problems. These aren't going away until they get fixed and I think gold will be the beneficiary.
I'm really not sure where it will top near term or long term. I just know that when everyone starts talking about it then it will be almost time to get out. Because at that point there is nobody left to buy. .
just when you think things are going to go down, you get a huge rally into the close. This is why it is so hard to predict these markets. I went surfing and came back. Huge pop. Look at PPP. Probably has room to run.
If you get down here as you said in another message lets go have a beer. I would love to talk mining stocks and such. Have a great 4th.
This is the conundrum we are all faced with. We all want to be able to sell at the top and by more on downtrends. Problem is that this is really only possible in hindsight. So many people here were selling at $2.80 and $3.10. It does seem like a pull back could be imminent. The miners don't seem to want to break out anymore. IAG has definitely been a laggard. Part of that is that they really don't have any ohter metals that are byproducts. Silver has been on a tear and the dual silver/gold miners have been on a tear. That will probably slow too. I might be selling some near term calls to do a little hedging but that might be it.
Yeah, some of these boards (HL too) is so full of stupid BS posts that it is hard to take. I own quite a bit of AUY and have done with it. They are a good stock but dilutions have hurt. Looks like they are seeking to pay down some of their debt too.
What is wrong with people is too long of an issue. I have never understood why people insist on trying to put political and other social commentary on gold sites. See NEM, it is littered with them.
If you want another gem go to Zerohedge. It used to have some really good comments of people in the industry and right around bear stearns there was so many good commentator on there. Now, it seems that it is nothing but pontifications of Hillary and Trump. All of the good people left. Now it is all made up on people's fantasies about what is happening (read conspiracy, new world order, rothschilds, 9/11 was a hoax, etc, etc, etc)
its 26 center off, but no matter, it has really stalled as gold has surged. I don't think it is normal profit taking...
It makes me wonder if Letwin has done something incredibly stupid again.... Usually that stuff leaks out and then the stock starts to turnover... The guy is a freaking disaster.
did you mean major distribution? Because you can't tell dilution from an increase in volume. I can't make sense of your comment.
China is a freaking disaster that only a few understand. I saw this one prognosticator say that it wasn't an issue because they were state run. Let me tell you, when you have NPLs growing it is an issue. Because the sheer size of the loans are stupendous. I don't care, they are going to have to devalue, gold anyone? Some say 30-40% deval is inorder. That will absolutely rock world markets. This is going to happen. I don't care if you are state run. you still have to pay bills. I have been to China recently and was blown away at the number of empty cities. Not one, not two, but in the teens and that was on a one hour bullet train ride.
Leeb, I will take a look at it and let you know what I think (as if you cared). I think a 20x multiple is too high. I use 15.
I still think miners could pull back but with 1/3 of the world at negative rates gold should do well. And there are some that are saying that Brexit is like Bear Stearns (6 mos prior to Lehman) so there are bad things coming. Time will tell. i expect the near term market to stabilize and then when everyone realizes that there are serious ramifications things will change...
Speaking of shorting. Seabridge is one that I just can't figure out. For over 15 years they keep telling everyone what great finds they have but they never do any mining? Simply an exploration company only? Questionable at best.
Watch out for the BreX's out there!
Remember that NGD hedged at 1400 gold which is probably a good hedge. The miners got a bit ahead of themselves but I see a lot of people now saying that gold will make 1400 over the coming months. That will help all of them tremendously as it all goes to the bottom line at that point. Thats another 75M free cash flow for IAG. 40M this year for NGD, and 130M for AUY. That is huge. Put a 15x multiplier on it and you have fireworks for the stock from this point on.
This is a most bizarre miner market I have seen since I started trading it in 2009. Just when you think it is heading lower it changes direction and goes green. Almost exactly the opposite of the past 4 years when it would be green for most of the day and then go red.
I know that many look at the COT (commitment of traders) report to say that gold is going higher or lower but honestly I have looked and have seen no correlation. I know Clive Maunde and others call the speculators as dumb money but if there were a correlation between the speculators and large commercials where the large commercials were ALWAYS right , then wouldn't others see this and reduce to only go the way of the commercials?