Former goz holder here. Started buying in 2006. Suffered through the 2008 dip to 13 cents. Swore I learned many lessons through that fiasco, and I'm wondering if the writing is on the wall again for 2013. Maybe its just fear mongering by the media. Or maybe I'm just paying attention this time. But the outlook is bad, real bad, worldwide. There isnt any country that will escape it this time. If China and Germany are headed for recession, what the heck does that mean for Greece or the U.S.? Or worse yet, what does that mean to Canada?
I dont believe that American polititians are too pigheaded not to compromise and prevent the train from rolling off the fiscal cliff. But the reality is, even with compromise, the recovery will slip back into recession. You can only ignore 16 trillion debt for so long.
So what does that mean for us here? In my opinion, we are worse off than when we were goz. That was just the time when goz 'ramped er up' to 10,000 oz per quarter. Unfortuneately, we are still producing at that break neck pace.Only dif is we have 60 mil more shares outstanding. Gold prices are higher, but for how long? I think gold is due for a huge correction. I hope I'm wrong.
Lupin provides zero value in these times. Especially their last 12,500 meters drilling. It doesn't seem like such a sure thing anymore. So its nothing but speculation. Spec stocks got hit the hardest in 08, and never did bounce back to their previous levels.
Bottom line is, we have had a nice little run here, b4 the panic hits. So the 75-80 cent price isn't horrible,especially after more disappointing earnings. I think you will be able to buy back under 30.
Or, can someone tell me I'm full of pooh and don't know what I'm talkin about? I dunno, the last week sure seems like deja vu to me.
Billy