Lydian International Ltd T.LYD

RE:RE:RE:East Europe Banks

[simmonr]

As far as write downs go I don't share your opinion.  I think land holdings like Lydian's Amulsar project would draw an immediate feeding frenzy from mining companies.  With all the write offs and huge losses being suffered through ( Barricks instantly comes to mind ) mining companies are DESPERATE to find a mine that they can extract the gold cheaply and turn a nice profit at today's current gold prices.  The write offs are coming from mines that were constructed to turn a profit when gold was trading above $1,600.00 and now they are not profitable because the cost to extract and process the ore in those mines are turning losses.  If you were losing billions of dollars on all your existing mines wouldn't you jump at the chance to get a mine that can turn a handsome profit at todays price and know your profits will only skyrocket when the gold price rises?   This is why I do not understand why people are selling off on Eldorado Gold Corp.  They are a SOLID company and their operating costs are extremely low.  They are still well positioned and turning profits while others are crashing down.   Eldorado Gold corp is the only gold company that Morningstar has given a MOAT rating on.  Now that is saying something.
It just goes to show you that people who invest their money in stocks don't know a thing about the companies they invest in .  How any one can sell companies like Eldorado Gold is beyond my comprehension but that's another topic for another day and for another thread.   Ciao