RE: Oh, John EmbryI have lost much respect for Mr. Embry and others over the last few months. In public Mr. Embry has made some exceptionally negligent comments. To me he comes across as disingenuous and nothing more than a promoter of his personal friends.
For those that continue to castigate the buy and hold approach in a bull market, today’s offer from Agnico is more proof the strategy works when fair value is attained. I am of the same opinion the offer could be higher and it still may. For those eager to accept the offer, it is important to understand Agnico used a long term price of gold at $480/oz. in their assessment of Meadowbank. In due time, analysts all over the globe will be required to increase the long term price of gold.
I’d like to take this opportunity to publicly thank Cumberland’s management team for a job well done. I certainly can not be upset with the offer as I have realized a gain of just under 400% in 15 months; thank you.
DISCLAIMER: I am a value investor seeking undervalued gold mining companies. I have no intention of selling any of my gold stocks until fair value is attained on each of them.