RE:Australia's Newcrest plunges ......
bada123bing; I am not sure what the point of your report on Newcrest is? Newcrest is a major. it has, like most majors, bit off too much for what it can possibly chew and digest. And their tendency to venture into hostile producing environments with unstable work forces and politically hostile governing regimes often leaves them leaving these projects and returning to more hospitable and friendly environs, abandonments that cost them billions in writedowns and direct losses. I can't see this in relation to ANX's position.
This week we had a dump of just over 1million shares which represents approx. .625% of the entire share capitalization of the Company (about 177M,600,000 shares issued and outstanding). Someone panicked and threw their stock away to the benefit of those waiting to snap them up for next to zilch in value. As one has said here before, we could have all just waited before buying our shares some years ago and bought now and probably be in a better position for being patient but who knew? I think that if ANX can break even or make a small profit at 1320$/oz gold, then we should be satisfied with that result for now. With what is happening in the sector now with shutdowns and closures and production delays etc., I personally foresee gold becoming in short supply. And when that happens, who knows what we can expect then and who knows where the price of gold will be! They talk of Europe now in some kind of a recovery...but has someone forgotten about the debt owed by these Euro States? And what will happen in the Middle East with Egypt on the verge of civil war and stirring the virulent emotions of the most fervent jihadists who will die for the 'cause', no matter what. The jihadists seek world domination not democracy and stable free and open societies. They still fight for sharia everywhere they settle and they use the Kuran in whatever way that suits them. Middle Eastern oil supply is threatened as well and if the environmentalists here in North America refuse to accept the reality that the Keystone pipeline is one way to break this stranglehold that the Arab cartel has on us. Friends, gold may just be the only place left to protect your assets before all of this chaos ever gets sorted out. The world is in turmoil.