For those interested in gold stocks

[Aussie]

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

[AMR]

Ditto with CXC which has doubled and posted a H&S bottom. Boy my strategy of waiting for pullbacks in the Eur/usd and CXC.AX has cost me big time this week...

[Aussie]

Ditto with CXC which has doubled and posted a H&S bottom . . .

AMR, personally, COEUR D'ALENE is not one my favorites. I owned CDE last year when it was about $4.90 and managed to get out a month or so later before I lost my shirt.

My best performing stock by a mile has been Canadian miner Goldcorp (NYSE:GG). Closely followed by Kinross and Agnico-Eagle. I hold quite a bit of Yamana gold (NYSE:AUY) but have been disappointed by it's overall performance. I think it has been the traders play stock. The company is great, is one of the lowest cost producer in the world and has some fantastic properties - it should be valued far, far higher that 6 and change.

I am expecting there to be a great deal of interest in the gold miners from institutions in 2009 as the gold price rises against the backdrop of money falling from the skies. The Jr's are beyond cheap.

[airedale]

Hi Aussie, I am in Lihir Gold ...LGL... which has had a good run up lately. It is no longer just a one mine company, probably the second biggest gold miner on the ASX now.
And for a punt on the penny stocks look at Catalpa....CAH. It was formerly Westonia. With an extensive drill program at Westonia in WA they have had positive results lately. At this stage it is exploration, but should go OK when [and if] they start mining.

[arco]

Interesting thread idea Aussie.

I'm not trading any gold stocks presently, but certainly very interested.

Perhaps when anyone posts they can also say why they like the stock so much. Fundamentals, divi's, etc.

Some of the older serving forum members may remember the days when we constantly day traded Lihir and Mincor (about 16c at the time). Plus a few others that Miner was knowledgeable about.

rgds - arco

[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.

[Aussie]

Hi Aussie, I am in Lihir Gold ...LGL... which has had a good run up lately. It is no longer just a one mine company, probably the second biggest gold miner on the ASX now.
And for a punt on the penny stocks look at Catalpa....CAH. It was formerly Westonia. With an extensive drill program at Westonia in WA they have had positive results lately. At this stage it is exploration, but should go OK when [and if] they start mining.

airedale, I like Lihir.

It's interesting how the Aussie miners have reacted so positively to the recent USD rise in gold rather than the large AUD POG increase that was largely due to AUD currency devaluation/USD strength. I think this bodes EXTREMELY well for their future since the USD's current position is very tenuous to say the least. If gold gets to US$1,200 in '09 it says to me that these Aussie stocks will be HUGE gainers.

Newcrest has been on a tear in the last month . . . up 100% since the October low. I ask the question . . . is there ANY OTHER asset class that has produced these kind of results in the past 12 months? LOL

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[Jess9]

IGR, SLR and HTM - all very cheap and each at different stages, risk/reward etc.

[Timo]

Glass Earth Gold (TSX/NZAX- GEL)looks interesting.Biggest explore portfolio onshore in NZ and some JV's with Newmont.

Disc.GEL/HGD/OCG

[JBmurc]

Saturday, January 3, 2009

Barrick Gold, JP Morgan Chase Sued for Gold Fraud
by BLANCHARD & CO.

NEW ORLEANS, La. -- An anti-trust lawsuit filed today accuses
Barrick Gold Corp., Toronto, and J.P. Morgan Chase & Co.,
New York City, of "unlawfully combining to actively manipulate
the price of gold" and making (US)$2 billion in short-selling
profits by suppressing the price of gold at the expense of
individual investors.

The suit was filed by Blanchard and Co. Inc. of New Orleans,
the largest retail dealer in physical gold in the United States,
and by Blanchard clients who bought gold bullion. Blanchard
(www.blanchardonline.com) is paying the costs of the suit,
which asks the federal court to terminate the trading
agreements between Barrick and J.P. Morgan Chase and
other, as yet unnamed bullion banks. Blanchard believes
its clients have suffered substantial losses as a result of
Barrick's and J.P. Morgan Chase's unlawful price
manipulation, anti-trust violations and unfair trade practices.