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Investors in gold miners (GDX +3.5%) feel good - at least for a day - after Barrick Gold's (ABX...

Investors in gold miners (GDX +3.5%) feel good - at least for a day - after Barrick Gold's (ABX +3.1%) Q1 efforts to cut costs show some success. ABX reduced its 2013 capex forecast to $5.2B-$5.7B, and said all-in sustaining costs are seen at $950-$1,050/oz., vs. a Feb. 14 forecast of $1,000-$1,100. HMY +8.4%, GFI +5.1%, GG +3.7%, NEM +3.6%, EGO +3.2%, AU +3%.
Comments (3)
  • Flod
    , contributor
    Comments (60) | Send Message
     
    Although no recent financials are known of Anglo Gold (AU) the stock is presently cheap!
    In first half 2011 the price was round 48 US$
    First half 2012 round 42 US$
    First quarter 2013 round 28 US$
    24 Apr 2013, 02:41 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (8167) | Send Message
     
    As predicted the paper shorts are getting *bleeped* really, really hard.

     

    Vaseline, anyone?
    24 Apr 2013, 02:44 PM Reply Like
  • WMARKW
    , contributor
    Comments (10252) | Send Message
     
    Barrick will have to borrow money to fund those CAPEX levels - likely.
    24 Apr 2013, 04:04 PM Reply Like
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