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Allied Nevada Gold (ANV -6%) plumbs a new 52-week low after revising expected 10-year annual...

Allied Nevada Gold (ANV -6%) plumbs a new 52-week low after revising expected 10-year annual gold production at its Hycroft mine to 552K ounces from 582K. Average production cost is $146/oz. SA Pro author Thomas Lott - not a gold bug - likes the stock, particularly since Allied's size makes it far more likely to be an acquiree than an acquirer.
Comments (1)
  • Brian Bobbitt
    , contributor
    Comments (1905) | Send Message
     
    I would think, for various reasons, there may be a few miners you can find that have been 'beaten down'. as gold drops, folks are not interested in losing money so they stand aside or go somewhere else. I am a gold bull over the long term, although I feel we have not yet seen the bottom but close enough for certain reasons or plans.
    If you want a profit in gold today, over the wxend, forget it. Too many other things on the media's mind. Spouting great things happening all over the world. But lots of folks still unemployed out there. Detroit just went bankrupt. I suppose a few other cities are not only watching, but formulating how they can get out of paying off their debt. I wonder if it is the same as me going bankrupt. Selling my assets and giving the money to my creditors. I bet they just wipe the slate clean, get more from taxpayers, and do it again. With that said, I propose that many more will get on the wagon and avoid the June rush.
    (I used to say in school, "Flunk now, avoid the June rush") get what I mean? I have been saying in my comments for a long time to hold your water on PM's [although I have been buying little by little more PM's as the price drops. Bought 10 one ounce Krugs on the 14th, and another 1/4 oz eagle at a pawn shop yesterday.
    So when does the big show start. Pretty soon now I suspect, like this spring. (note here in Fla, spring has sprung, u otta c my avocado tree. a bazillion buds came out.
    Anyway, for this stock, I am gonna taka good look, and if it looks like it may bounce off 'its bottom', I may day trade it Monday, but not looking for any great things out of any miner.
    Go with SLV or SIVR for now, looking at it as one share, one ounce of silver. Other funds and ETF's don't mirror the price, so they can 'figger you out', and play with the price. See?

     

    Then IF the cotton hits the fan, switch your ETF silver quickly into silver eagles fast as you can. I am considering 500 coins pretty soon.

     

    Capt. Brian
    The Lost Navigator
    23 Feb 2013, 11:32 AM Reply Like
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