For those interested in gold stocks
I thought it might be fun to open a thread specifically on gold stocks - definitely not meant to be a trading thread, more of a swapping ideas, tips and points of view on the fundamentals thread.
I'll start by saying that gold stocks seem to be really moving again. Many of the majors have moved 60% to 85% off their lows in just the past 30 days . . . is anyone out there noticing this trend?
Attachment 1099
If gold goes over $2000oz NZ I'll be stoked
Quote:
Originally Posted by
Aussie
arco, glad you are interested, I'm not a trader but I'm very interested in peoples differing takes on gold stocks whether they are in NZ, Australia or elsewhere.
I am mostly invested in Canadian miners Goldcorp, Agnico-Eagle, Kinross and Yamana. I also hold Silver Wheaton, new producer Minefinders, ECU Silver and handful of decent Jr's that have been fairly walloped! But what the heck . . . I ain't selling, I know that they are the cheapest form of gold in the ground and one day will be 10 or 20 baggers.
Great post Aussie was think about doing the same My main Gold stock atm is -OGC which has lost a massive amount of market value over the last couple years still I think the core of OGC operations NZ will help put OGC back in favour certainly a longer term hold but one that will richly reward the brave-OGC potential within 2-3yrs could be producing over 400,000oz gold per ann with little dept,hedges & lowering costs well under $500usd oz with copper credits
OGC's Marketcap-30-33mill Dept-166mill hedging-241,47oz (planned to be closed out by DEC 2010)
From the OGC post-
was just talking with Darran from OGC sounds like one of their top 10 holder-Ospraie- (once the world's largest commodities hedge fund) has been the major seller of OGC for a while -Sounds like we could have some NZ exploration results out early next year
As for JV partners nothing likely in the short-term not with the current credit woes
As for hedging more to be paid-off over the next year ,Didipio costing 2mill per year to put on hold,NZ production looking at 260k-275k ,costs coming down,hedges reduced ....overall OGC sound like keeping focus on NZ operation's