Keep the faith, GGN is currently yielding 11.84%, is trading at an 11% discount from its NAV of $10.22 and gold IS UP $3.70 TODAY TO $1,245
You're a typical short/basher spewing #$%$ from a crud like Jim Rogers, the king of shorts.
Cover your friggin short position and get off this board
Gold is currently up by $10 pre-market and December gold options expired today, this may be a good sign for tommorows opening
Well gold is up today!!! .......Now maybe you shorts will understand Jim Rodgers game. He came on to the media to put down gold so he can short it, for years he's made a case that gold is the basis for all wealth, now he's shorting his huge gold position, its called "shorting against the box"
You made a smart move, if you noted in the last PR, GGN has paid out $14.37 in dividends since June 2005, so you ill be getting your money back either by dividends, capital gains or a combination of both.
GOOD LUCK TO A LONGS
Sentiment: Strong Buy
I guess you would like that $7 number? being a Jim Rodgers fan, that crud abandoned the US to live in Syngapor so he wouldn't have to pay taxes, well it's not going to happen, especially with GGN sporting a NAV of $10.22 (11-21-13)
To further illustrate, if the $0.12 monthly divi was maintained, GGN would now be yielding 15.1%, with the reduction to $0.09; eliminating capital beingr eturned to shareholders, and only dividend and capital gains (option income) now being disburced monthly, shareholders will now recieve an 11.33% yield a still hefty return.
You have a practical way to look at GGN, before the cut it was yielding in excess of 13% Further GGN was one of the highest yielding stocks on the NYSE; with the diviidend cut to $0.09 , its still one of the highest hyesty yielding NYSE stocks Managment realized the same thing and reduced the divi in lines with GGN's pps to a more conservative yiled doing away with capital being return to shareholders.
Sentiment: Strong Buy
You may have a point, Fidelity has only 0.08% of 103.9MM shares as being short, so the activty is day traders trying to make a day profit, weak willed longs and a swell of new investors locking in 11%
In an unusual occurance, four factors played into GGN's downtrend, yesterday's disclosure by GGN's management that it intends to reduce the monthlly divi to $0.09, the Fed's disclosure yeasterday that it may look to reduced its bond purchases early next year, todays dperessed gold price and the release of good job numbers all had their negative effect on GGN's pps, a rare occurance resulting in a 2milliion+ shares being traded today. Hopefully things will get back to normal tommorow and GGN will slowly build up its pps.
Jim Rogers is a former American who goes on the media shows to try to manipulate, he did it with the GSE's and whenever he has an oportunity to nock gold and silver, for a long time he told everybody to buy gold, now he's shorting it. Don't listen to the schmuck!
People don't have a long term perspective on GGN, for years GGN was paying a $0.14 dividend, it went to $0.12 in October '12 and there was minmal downturn, right now there's a lot of short activity and weak longs selling out, give the shorts a day or two then GNN will go back to $10
I guess I was overly confident in management's ability to continue to generate ample commission income on its options sales to maintain the company's dividend
If you look at GGN's trading activity after the reduction in monthly dividend(s) from $0.14 to $0.12 in October 2012 the reaction was minimal, lets hope we get a similar reaction tomorrow,