GREY:GRFJF - Post by User
Comment by
mlmackon Mar 04, 2009 12:46pm
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Post# 15819989
RE: Hell NO!
RE: Hell NO!Glad I got out about a month ago at $4.40. As I stated then, the 2009 guidance was terrible, when you look back only the third quarter of 2008 was above guidance, all three others were below, excuses oil costs, tire costs, etc. I think management sold out at such a low price because the mine wasn't going to be as economical as they had pedicted. $600 / oz. costs for the first three quarters of 2009, where did that come from.
Anyway I put my beans into a similar company with a higher growth profile, no hedging after June 2009. They have three mines with expanding production, 240,000oz @ $430. unfortunately there mines are in Africa but three different countries, they are SEMAFO, and if liked the old Western Goldfields I think you'll like Semafo a lot more than New Gold. gla.......