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1200 is that magic number that divides high and low cost producers.
Right now where I work we're considered high cost. There's a lot of talk about losing money right now and what to do.
It's too late. Layoffs , cost cutting , shutting down equipment when the price is low doesn't make you more money it makes you less. Might bring down costs but you don't make enuf of it to make it worthwhile
gold below 1200 will force out high cost producers or force mergers, make companies spend cash wisely and stabilize prices.
It's the same old, miners get overzealous produce and spend , glut and kill the market .
They need to spend more time working for and returning dividends to their shareholders. The people who let them survive in the first place.
Only when we bring these fuckheads down to earth with a shake up does this happen. And right now is golds time.
It's either shut down or average down.
There's only two real choices.
Cutting costs only works on the way down not when you're already there.
the mining landscape is changing and gold is coming along for the ride
GLTA
I'm in gold, management , about ready to retire.
Today we're not making money but losing it. miners are scared.
The conference call this morning was well.. Sullen.
Calls are being made. Old acquaintances are becoming new friends.
Big changes are in the air depending how long gold sits below 1200.
I hope it's a long time.
Cmon 1060 gold! And stay there for a while!
Thinning of the herds. I love it!
1200$ gold miners trembling.
I know......
Who's going looking for cheap gold first I wonder.
I guess he thinks we all don't have time to wait. Must be her negative bank statements makes her all Knarly
Good cause you're funny
Bye!!
I always thought keyotee was female.
Hmmmm dunno why. Musta been the conniving
Some miners getting pretty nervous right now.
For all the mines at 1200 gold not so hot.
All the better for baa to stand out.
Is what it is, it's good it's bad. But ultimately tech we know where this is ending up. It'll grind on ya but if you can stay strong and don't need your money for Xmas gifts lol , you'll be fine.
Keep the insight coming
You're starting to sound bitter.
Better buy back in
27% on tsx. We're headed to the radar
Companies like gss won't fare as well as banro in these markets at 1200$ cost per ounce. It keeps us in the game. It'll probably get worse in the short term but you can't argue the numbers.
GLTA
Lol another shit day on the BAA Homefront.
Yes. so many targets on the way down hopefully for now we're off the radar and can gain some ground.
So they didn't sign any agreement today I guess?
Or will it all come out with financials?
I think baa's cost per ounce is in line with their existing operation.
And they're so close to each other.
I think they're across the lake from each other. And use same port access as well.
It can't keep momentum and is a constant target. This I'm sure will continue at least till financials.
Maybe longer until the namoya deal is signed.
the company needs to start promoting itself at least and let investors know the company exists. It does very little to take credit for its accomplishments.
It's a few months of the same shit show coming so best to just sit back and wait.
Personally I hope barrick swoops in and takes this home.
The next news won't help, it's news we already know. Maybe the financials can keep it propped up till December. So this stock will be wallowing in the mire until the new year.
Just the way it is....
GLTA
And they're right next door. Why acquisition halfway across the continent when there's fields of gold and two dirt cheap mines right next door. It's coming
Depends how the next two mines work out.
They commissioned the last two quick so....
Could be a four or five dollar stock after that.
GLTA
Nice to see that mkt cap rise finally
Slow and steady.
Seems baa have lined themselves up nicely for news and updates into the new year.
Well done.
Nice to see I was wrong.
One good thing gold holding basically owns 10% of twangiza for 4 years
And will be partners for life on namoya.
Hey don't blame me. Unless something happens outside of Banros control were at the mercy of the same shit that's been going on for the last cpl months. That's all I'm saying.
Nah I'll keep my 300k.
No not what I'm saying, there's gonna be no value here till the new year.
This stick is in someone else's control, and I hate it.
Watch and see. And don't complain
Nah were at the mercy of what Evers going on for the next two months.
It ain't gonna be fun .
We should all just join in, short the shit outta this cuz that's all it's probably good for till December.
And the rest of the week . Till signing.
Then down again till December .
Were gonna be at the mercy of anyone who wants to destroy this stock until all the deals are signed
Unless something outside the company's control changes it.
Just being truthful and realistic.
Watch
No I'm just being realistic. There's nothing to prop this stock up. Momentum excitement management promotion of the company. Nothing.
It'll be red again before days end.
Nah unless something drastically changes. This will be put down again till signing next week and come December? No momentum. cant keep momentum.
It'll be here again unless something outside if banro changes drastically.
Way this is going you'll be lucky if the u.s doesn't end up in the red again today.
Not the banro news line but the main news
Finally made it to yahoo finance main news line on the app.
Up 20% tsx
Oct 15th 2014
Argonaut gold
Q3 32k oz gold (same as baa)
Pps 3.80
Can't get a run up on news and can't get a cent on good news.....
I think this will continue to stink up the market for another 7 to ten days
Y'all.
Lol