Current Gold Q2 financials starting...Barrick just released amazing numbers for Q2 and that is going to set the stage for all producers. I believe that small to mid producers will be more positively impacted by Q2 numbers than the large caps. Further, Barrick is starting to dramatically reduce their hedge positions - I believe we all agree that Gold prices will be heading north from here, especially once the seasonal fall rally comes into play.
One of Gold's most historiclly bearish analysts, Brian Acker, today had 2 Gold companies as his top 3 picks on Marketcall. For any that have followed this guy, he is the anti-thesis of John Emery. For him to pick Gold companies is very compelling! He only follows large caps but it is interesting to note that Yamana was one of those picks - Nice; as Yamana owns close to 20 % of GGG and this will only provide us with more exposure.
Someone was worrying about the number of asks on the sell side today - I would only worry if the asks were much higher (in volume) than the bids. The bids per volume have been approximately triple the asks recently so beyond the pp, there is a huge foundation built in the .61 to .66 range - a nice starting point for us newbies
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Great action today and looking forward to some nice numbers! As an fyi, here is the Barrick release from tonight:
https://www.stockhouse.ca/news/news.asp?newsid=3827363&tick=ABX
Cheers to the longs, BB.