GREY:HRIVF - Post by User
Post by
metalmaniakon Apr 28, 2008 4:43am
251 Views
Post# 15014324
holding 100k shares now at 1.96
holding 100k shares now at 1.96Took my last chunk at 1.80 on Friday and that's it for me.
Trading way below NAV with 2 new mines and no financing problems. Looking back, I was one of the harshest critics of 100 mil financing at 3.10. Worked out for management.
I have been vocale about management screwups, and of course they screwed up very badbly on their cost guidance last q.
The street has dumped and lost faith, but the facts are this is ridiculously cheap, has no financing problem and will produce 300k oz this yr at about 500 per oz.
I don't care where bottom is as in 6 mths to 1 yr when gold breaks 1000 again, this will be back at 3.
I find it foolish to try and pick bottoms, or tops for that matter. Sold at 2.80 and bought them all back at 1.96.
Not the top or the bottom, but money nonetheless.
I was very encouraged by the last PR, as it looks like management is waking up and informing us on what is presently going on. I am waiting for the Berezitovy update now as well as Prognoz spinout.
Gold to 1500 in 2010, HRG to 6 or taken out sooner.