Seeking Alpha
  • Jason Burack
    $EXK $GDX $GDXJ Endeavour Silver just announced large cost cutting measures including 25% reduction in exploration budget. Supply cut off
    4/29/13
    Reply (8)
    • Agbug: RIO announced home office staff cuts, ABX bonds near junk and divesting assets -And the hits just keep on coming.
      4/29/13
    • luckybuster: Excellent news!
      4/29/13
    • Agbug: Oh, and Bingham Canyon Mine - 15% of US output, buried for a while. Pebble Creek, AK may not launch. HL still working on Lucky Friday, etc
      4/29/13
    • Jason Burack: Barrick will survive, but they are really poorly run. I would avoid. Agbug, supply keeps coming offline, demand for metal keeps increasing.
      4/29/13
    • Jason Burack: Huge disconnect from supply/demand for actual metal and the paper prices. Disconnect will probably get worse until COMEX becomes irrelevant
      4/29/13
    • Jason Burack: Barrick also has more asset/reserve write-downs coming. A lot of the projects they bought & overpaid for are uneconomic at these gold prices
      4/29/13
    • Agbug: I didn't even get to the big one - Pasca Lauma, and NEM has issues in South America as well.
      4/29/13
    • Jason Burack: Yea. But Barrick still has to deliver other Silver from other mines to $SLW until Pascua Lama is finished
      4/29/13
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