I just added to my position today. Notice a doubling in shares traded today. This company has land plus more permits. Within months they will prove up more resources as well. gold will go up later this year probably around Sept-Oct. expect some huge returns from this point. Also the president bought at much higher amts at even 60 cents. I had also bought around there as well. These small miners will outperform the returns of the bigger ones like GG and NEM; that is they will also increase in value by many times the the returns in gold. This company is a home run stock when the metals market surpass where it was at the last peak.
not happening! Big scam . I exited years ago w/ loss Mr.. Mcintoch also did this with American Petro Hunter. I warned everyone but people say you have ulterior motives. No one wants to do their homework. Good Luck trying to find people for a suit. Been there done that yrs ago!
The entire mining industry has been hit hard. If you bought on the dips like I keep saying it wouldn't be that bad. So if you are a believer that the mining industry will turn around then you want to be in these companies. Gold and Silver will turn around. I don't think it has been a waste when the core value of the company is still going up. They have more land and even though the price of the metals has gone down they are months away from getting higher numbers in the measured and Inferred categories. Perhaps you don't know what that means? But 5 million ounces of gold is really close now and the silver we have is also fairly impressive. Once we hit the numbers this company will be hawked by the majors.
Another factor is the risk reward. You can plop down a few hundred dollars and own thousands of shares of a potentially world class company. The returns would be astronomical. This is a home run stock for when the mining industry turns around. I am not looking for 10-20% gains a year. If you want that buy a GG or NEM or ABX. Perhaps FCX with a dividend. I have a stock like that as well to even out my risk. I am looking for a ten bagger or better. Though this is all probability.
I also advised dollar cost ave and doing your due diligence which should go without saying. As it stands this stock is the lowest its ever been. I am thinking of adding and lowing my dollar cost ave but that is just me. I think we will see a bottom in the mining industry in April-May. You don't have to listen to me but when this thing turns do I rub it in your face? I'm expecting low prices for some more months. Then again buying more is my strategy not everyone's. Statistically speaking most people won't buy here b/c they follow the herd. So I go out on a limb here and take a big risk. You will be correct for some more months but you don't see the big picture. Perhaps you should sell. One of us will be correct in about a year. Good Luck!
I agree. We are greatly expanding the value of this company. Not only will there be another resources estimate soon but now we have more lands which have a high probability of having more gold and furthering their asset base. This company is very very close to becoming a "world class " mine and now a very attractive buy out target. They are using their money wisely during this down period in the metals industry. Smart people buy when no one else wants it , provided you know that things will turn in the sector. This whole industry will definitely turn by the mid- end of the year, probably around September. So I think adding to one position is a good thing for now. I am holding and waiting for any fall in prices to add shares.
Yahoo says 4,2% Please remember that dividends might change due to the economic environment. Nonetheless yes it is still nice for the sector. Yes the stock at this time seems undervalued and all but we don't know if it will go lower and the dividend goes lower. I do believe that sometime this year the precious metals will turn around and so will all the mining stocks. Right now dollar cost ave might be a good thing. I would be cautious at this time and maybe wait for the next sell off. If you think this is bad now wait till April-May. Or you can dollar cost ave and reinvest dividends if you time line is a bit longer term like 2-5 yrs. Good Luck.
Gold had a very nice run lately. Though all good things don't go up in a straight line. There has historically been a pull back in gold and silver market around the meeting that is why gold and silver miners were starting to pull back ahead of this meeting. We can almost always expect pullback around these times.
The metals will go lower until a day or two after the meeting. So getting in at 11-13 cents is a gift. We will see higher gold and silver prices in Feb. In fact we will probably break 1300 gold then. Please feel free to post here.