Post by
own_quality on Nov 10, 2016 10:51am
For what it's worth...
I decided to add 50k shares at 0.39. Seems like the buyer thinks there is good money to be made buying in at .40 and I think gold is not going to go down much more before it moves higher. I now own 150,000 shares. Remember that that Timmins is not likely to build Ana Paula, so they are not likely to experience any additional dilution. They now have enough cash to take this project forward to the point where they will likely be bought out. Of course there are still risks that the project will suffer some fatal flaw, but at this stage that risk is fairly low. Most of the remaining risk is juridictional risk. If I had more cash, I'd probably buy more at this price. No one like losing money, but sometimes there is opportunity when the price drops if you have any dry powder left.
I also think the Trump victory will ultimately have an influence in pushing gold higher. The uncertainty trade will come back when the party is over in a few days.
Comment by
Goldhound3 on Nov 10, 2016 11:26am
I sure hope your right as I'm in at .70 and in the red big time now.