They are going to drop their production cost by 30% from Q3?! 1) that would be a small miracle 2) why not just buy in Jan or Feb prior to Q4 CC? Should be $2.50 or less by then...
They need to raise capital in some way shape or form by Jan or Feb 2014 or they will have big problems with gold below 1200.... if they can get cash it is a $7 stock a week after that. Best to just buy upside calls until the cash is raised...
Just one last gasp for air before heading below $2... yesterday was a breakdown. Unless it can push past 3.40 with volume I will not add any more but continue to buy upside calls on down days just in case we get that $7 buyout everyone has been waiting for.
The company is trading at .44x book vs historical of 2.5x. If the Fed tapers in Dec we get 1-3 days of pain then gold will bottom and start the climb to $3K as inflation returns... I see very little risk.
I have closed all of my shorts in the sector and am 100% long. At this point I am advancing on my bank LOC to buy more. I can't resist these black Friday prices.
Charts are showing support is broken so it should go lower at least through year-end... I just keep accumulating lower b/c I am afraid of missing the first move higher off the bottom which could be 20%+ when ppl wake up and realize the true supply vs demand dynamic in gold.
You sound as though you believe the gold market is based on supply and demand... those things do not matter. All that matters now is GS and JPM along with the Fed want gold lower... so it is lower.
Goldcorp stated a few months ago that they were looking to acquire some large scale projects... I assume they were talking about SA's KSM or THM as they referenced a lower grade project. I think NEM is the best suitor for ANV. Too bad mgmt. is awful b/c a buyout will not be the best way for shareholders to extract value...
Yep, that data was from Oct... with golds drop in Nov I would expect them to import over 200 tons.
At this point the shorts are piling on expecting a liquidity crunch and default at ANV so even if gold goes higher will ANV rally? Management seriously needs to address the liquidity concerns to get this ship headed in the right direction.
Reuters has just received data from China that shows that the Chinese have imported 131.9 tonnes of gold from Hong Kong during the month of October - the second highest amount ever imported from Hong Kong. Somebody needs to tell the Chinese that gold is in a bear market and that Goldman Sachs has named it a "slamdunk sell", and they should instead be buying shares of Apple (AAPL), Tesla (TSLA), and Twitter (TWTR).
When China controls 75% of the worlds gold look out b/c they will crank the prices up to about $10,000 worthless USD/OZ
Long term investors would rather buy low sell high than buy high sell higher... greater returns if you have the patience.
Yes, economic collapse... have you heard of this guy Barry Obama. He is doing everything wrong and his pall Yellen about to spike the #$%$ out of commodities in 2014.