RE: RE: RE: New 52 wk. low for gdxj (junior index)The strong rise last Friday was all index related. Funds that mimic the index are forced to buy shares and the market makers fully took advantage of that situation. I have seen this happen before time and time again with stocks on the rebalancing of small cap indexes like the Russell that get rebalanced annually in late June. I expected for the stock to again trade back to its normal range. The subsequent carnage to these levels was unexpected.
Regarding the 60K production guidance: It is solely for EVBC the UMZ remains at 15-20 K oz. It is hard to pinpoint the exact reason why the guidance was lowered but at current pricing there is a huge incentive to extend mine life and significantly lower the cutoff grade from 2.9 g/ton which was the threshhold used in its FS and guidance.