by the way, I sold covered calls today (at high vol and premium) --I expect the vol and prem to drop in the AM and my initial concern is AEM would run up in the AM making me buy back my calls at higher price.
Should be interesting -only real disappointment is the dividend and that is not important persoanally to me. Rather they take the money (20 mil) and capex it. as price go up we will want more output.
I would think most investors in this space understand that a lower gold price affects income cash flow and distributions. And thats why the sector has rallied the past few weeks breaking above 20/50/100 and 200DMA. More important tied to that is that gold prices seem to have broken out. Clive Maund came out saying gold has broken out into a new major bull market and silver will soon follow.
Interesting nobody talking about that. With all in costs around 1000-if gold prices go up 200 most of that 200 goes to bottom line. And looks like production goes up a tad in 2014.
the driver is still gold prices and they have bottomed.