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More on the gold miners (GDX): Admitting you have a problem is the first step. Barrick Gold...

More on the gold miners (GDX): Admitting you have a problem is the first step. Barrick Gold (ABX) and Goldcorp (G) have begun reporting "all-in sustaining costs" for the first time, with the result averaging $941/oz. from $626 previously. "Miserable capital allocators," writes Liezel Hill, the managements' moves show an effort to focus on margins and costs, rather than boosting output. (previous)
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Comments (4)
  • The_Hammer
    , contributor
    Comments (4606) | Send Message
    miners have not fooled investors, addicts can recover when they hit rock bottom. cash incinerating miners have hit rock bottom.
    27 Feb 2013, 10:59 AM Reply Like
  • Rickthegeek
    , contributor
    Comments (118) | Send Message
    How low can GDX go? GLD is close to support levels at around 150. If it moves below 150, there could be a bigger plunge.
    27 Feb 2013, 03:03 PM Reply Like
  • The_Hammer
    , contributor
    Comments (4606) | Send Message
    sentiment is lowest since depths of 2008-early 2009. i am sure that support will be breached 150, but with such a lopsided trade right now it may not stay below long imo.
    the key for miners is they have finally admitted they need to take corrective action. first step to recovery in miners operational performance.
    27 Feb 2013, 03:15 PM Reply Like
  • Kyle Spencer
    , contributor
    Comments (1232) | Send Message
    Overreaching is expensive.
    1 Mar 2013, 02:44 PM Reply Like
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