This is such a weird market. I would say you are right but I am not selling. It has gone up like a rocket but it also went down like a rock so who knows. It is still at silly levels. It is a 700k ounce producer. Those multiples are undeniable.
However, the #$%$ is starting to hit the fan all over. The credit default swap spreads are showing some eerie similarities and even worse than 2008. Time will tell but it looks ugly. Even at these levels IAG should be at least 100% higher. If gold hits $1300 we should see some big jumps.
Many of these stocks have run a very quick 50-80% off of the bottom. There is going to be some profit taking. Probably some steep drops too. But the world financial condition is looking real bad again. Deutschbank, the Chinese bad loans, and oil seem to be telling that there are some very big unsolved issues out there. It looks like gold might get more attractive as an alternative investment. 9 mos from now we will know one way or the other!
There is still huge room to run in these miners. They have all cut costs and now with lower oil prices and higher gold they should start to explode. If we get to $1300 gold IAG should be much much higher. I expect that it will go there this year. Too much financial turmoil this year. Could it be that this is finally the year????
I have some money in AUY also, They are starting to really run (FINALLY!). I know everyone is waiting for a pullback, Remember that for every 100 dollars an ounce that is 70M to the top line. at a 15-20X multiplier that give you 1B-1.4B in market cap. That is approx $3 - $3.50 more per share. That would put this is in the $5-$5.50 range. I think that is totally realistic.
we've all sat through the pain for long enough. Now is the time to start seeing some of that long awaited gain. I think it will pull back again to around the $1.45-$1.50 area but by the end of the year I expect these stupidly low prices to be a thing of the past. I might even buy some calls on some miners when we get the pull back. I do think we are at the start of a new run. Some are still calling for lower gold however.
LMAO, you are right. Even a buffoon like Letwin should be able to get it right. If gold gets up and goes then even this moron will look okay ( to the outsiders this in). Lets face it, his blunders are already baked in the price. I can't believe they keep voting him in. It is crazy.
Look at NGD for a very well run company with top notch CEO. They have hit all the marks and they will be expanding from their current 400k ounce production to 800k and then 1.2M soon after. They are doing it smartly so if gold prices keep low they can delay CAPEX. It is called MANAGEMENT. Its not GAMBLINGlike this buiffoon did on the oil hedges.His oil hedges are wiping out $62 per ounce of profit!!!
my son is 11 so I remember him being 10 very vividly. 10 year old kids don't act like it. More of someone that has been burned by their own bad decisions. Half these guys just do it to get a rise. This guy just does a copy and paste a million times. Not sure why yahoo doens't pick off his IP address and stop the nonsense. And if he is using a dynamic router, so be it, deny the router's IP.
I think you have bough at a very opportune time. They are a very low cost producer and they are very smart. Look at some of the other dolts in these mining Company CEOs. NGD has a very top notch team. This is not just a low cost story but also an expansion story. They only produce around 400k ounces but they have 2 amazing projects, Rainy river, and Blackwater that will boost their production to 1.2M ounces in 3 years! That is a very good story. And if gold goes up then all the better...
If gold gets up to $1200, IAG should run hard. I spent the morning doing an analysis of 6 gold companies. IAG is lagging hardest based on gold production vs mkt cap. When they get over $1200 this should rocket higher. The ounces multiplier just can't be denied. However, the CEO is a timebomb. He just can't get out of his own way....
yes i read it this morning and I read the entire reports from IAG over the last day. What a bunch of clowns. NIOBEC is the only decent thing they have done but those oil hedges are inexcusable. What a waste of capital. If they are going to use hedges, use them when its going up. Not down!
It may have but time will tell. Not sure how many of you saw but 5 big Euro banks are in trouble due to neg rates. They are in serious need of recapitalization. That, along with the potential for upcoming recession could mean the nascent start of a bull. I sure don't know. Its been a huge run for a lot of stocks so there is probably going to be some very deliberate profit taking and we might see a swoon soon.
That's right, not too distant for whom....
Miners are up SHARPLY in the last 12 days. Some are up almost 30%. I hold NGD and it went from 1.72 or so to $2.50; that's a huge move so I am expecting a pullback shortly but who the heck knows. This market is weird.
Not sure how many of you read this site but I thought his most recent missive was good. It says we have hit the low, not because of what he says but from another well respected analyst in the commodity field from Claremont McKenna. I happen to know that Claremont grad schools as I knew a lot of people from there when I went to Cal Poly. Druker went there. Anyow, there are a lot of very smart people that go there. He states that we have hit the low and that miners are mimicking their rebounds from all of the biggest downturns. Its a good read. He says they have a lot more to go up and probably by this coming fall.
Yep, probably as close to the low as you can get. What a bunch of morons. Where were they when this was 5X higher?