An update: fyi, I haven't gone anywhere guys. I am patiently waiting as gold seems to be setting up a new base in the 1200-range. I will add to my position if BAA drops toward low .2s
I expected some turbulence as a result of Fed-speak non-sense starting mid-March so I'm not surprised by the recent price action. Ultimately, nothing very surprisingly bad has come to light, warranting a decline in the already under-valued stock price.
However, I am slightly disappointed by the 2016 projections: 210-230K oz of gold and the associated production cost. The weighting to H2 is also an unwelcome development that may delay the run we were all expecting til the 10-Q comes out for Q3 on/around August 15th. On the positive side, this may catalyze a stronger run when it finally comes.
Either way, this year should end with a bit of a bang, especially if the gold bull is strong. The central banks keeping up their credibility-killing activity is almost a foregone conclusion at this point.
BAA
