AUQ's Management sourced that cash by selling underperforming, high-cost mines near the TOP of the market. Then they used that cash to pay down debt & buy back shares. What a crime! Should they have known that gold was going to sell off hard, taking all miners (including AUQ) with it? Hindsight is a wonderful thing - especially for moronic bashers.
Don't forget that when gold soared last week on the fed's non-taper, AUQ's stock skyrocketed over 15% - in just one day - one of the best gainers anywhere. Investors in this stock are manic/depressive. There's also mutual fund year end selling pressure in Sept. for tax reasons & some window dressers might not want to show it at end of quarter. Whole gold (miners & gold) complex bottomed at end of Q2 in late June for this very reason. Could see a rebound later this month when pressures abate
You're making up a story here. Saw the presentation. Same as last week's at Merrill Lynch. Immediate reaction following completion of presentation was a RALLY in stock. Unfortunately, battering of all miners again today has caused AUQ to fall. Probably some disappointment that stock didn't go up after presentation - but it wasn't because of the presentation. It was all good news. But good news doesn't matter these days. Miner investors are demoralized. Searching for a bottom.
$1900 gold is possible in 5-7 months, not years. $100 silver may take a while. When taper fails (weak economy slumps even more) Fed will reverse tapering and the whole world (not just the Asians who know this now) will learn that the Fed is trapped and will have to keep printing, otherwise the house of cards they've constructed will collapse.
They can't keep smashing gold prices. Too much Asian demand. On the paper gold front, COMEX deliverable inventories are down massively this year to under $1 billion worth as people HAVE been taking delivery. Jig is almost up.
Advice from a successful, 40-year experienced professional investor: Ignore the rantings of stealthy.trader, gotgoldies and the other uber-bearish nutcases that dominate this thread. They will soon be destroyed (if they really are short - and not just Keynesian, government-loving, gold-hating hacks). In a world of unprecedented money printing of paper currencies, assets win - and the WORST place to be (even worse than cash) is to be short hard assets - especially precious metals. One would think that a giant, secular bull market - up 12 consecutive years - but not at the blow-off stage - yet - would have taught these guys something. But not these dumb rocks. A normal correction gets them so worked up to a frenzy that they can't see the obliteration heading their way. Let them have their fun - it won't last much longer.