NXG, I just listened the Cramer mad show twice. Cramer was responding to a woman caller, he thought it is a speculative stock, and repeated he likes GG.
Well, nothing bad about NXG, apparently Cramer has no knowledge about NXG's main operation. If it dips tomorrow, I am thinking to add some, here is a PM I sent to a trusted friend about NXG this morning, I stand by my assessment.
NXG's main and only mine is Kemess South, it is scheduled to be closed in 2009. NXG is applying permit for Kemess North, which has more copper and less gold, more like NTO mine. Environmentalists are strongly opposing it, but I think the company has 90% chance getting it.
The drilling result is from another property NXG bought last year.
PE wise NXG is probably the lowest, but it has some risks as its only income source is about to run out. NXG also hedged 1/3(?) of its gold at about 307.
I am more a value investor in the mining and oil stocks. Actually I unloaded some NXG at 2.8 yesterday, wish I didn't.
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