RE:RE:RE:RE:Newmont ClarificationAs far as why Newmont is selling their COS shares, the better question is why did they buy them in the first place. I assume they looked at the purchase as a hedge against oil price surges. I do not follow Newmont but most gold miners are at or below their break even point. My guess would be that Newmont either needs the money to maintain sufficient cash flow while the gold price remains low or they intend to use the money to buy some assets at bargain basement prices. If you believe the price of gold is going to go back up to $1700 or more there are a lot of incredible bargains out there for a company with a little bit of cash to pick up. I would expect Newmont to announce a purchase in the next couple of months as they have not been replacing their production the last few years.
As far as COS goes, this will take a few weeks for the market to digest and then we will be back to normal. If the price of oil remains high digestion will require less TUMS.
Bob