Some nice moves in the golds today considering that gold itself was down. KGC, CBD, WHT (and the warrants) all up. Overall, the juniors looked pretty good (MNG hit a landmine) and the seniors (other than KGC) showed some weakness.
A good consolidation day for the yellow stuff (only down $2) after a huge day yesterday.
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ml,
I agree! It sure could have been worse.
I sold 20% of my WHT @ 1.63 just before the close for about a 110 % pwofit from my .73/.78 buys of early spring when I got REALLY interested in WHT.
To me. these profits are basically tax free (in my mind) because my tax loss carry forward is SO humongus that I could never use it up in my lifetime at the going rate of 3K a year.
Not even if I was suddenly awarded several additional lifetimes in return for achieving such a high degree of excellence w/r to my *** gold related posts *** could I envision working off the sum total of my tax loss carryover at 3K per year, and since I know that my lovely wife will sell everything in my PM portfolios at MER, TDW, and Datek/Ameritrade, after properly waiting a respectful day or two after I have taken my last breaths as she is pretty comfortable being one of the staunchest believers in "the gold is meant to be worn" school of thought, I just felt that the least I could do for her on this day was to reduce the onus of that carry forward by some relatively insignificant amount.
Now I find myself worrying about whether I'll be able to replace it at a price that would convert my unselfish gesture into an artful and profitable move.
Such is the life I lead, ml..... If it's not worrying about the cubs, it's worrying about the poor fishing conditions presented by our mostly liquid Florida summers, or lacking that, where to get back in WHT....
I really shouldn't complain!
For all I know, things could be tough all over! <ggg>
Anyway, this was all meant in fun with the hope that my goofiness was successful in getting a laugh out of you, and failing that, at the very least to get a smile or two.
I hope MNG hits a couple more landmines min the days ahead. I think their Hope Bay property is going to be a monster and I have to give them credit for closing operations that no longer made financial sense.
I don't like that they hedged some of their production or of the prices they were hedged at, but I'm not aware of what pressures they were facing when they did so, and seeing that the amounts hedged are not onerous I'm predisposed to give them some more rope and watch closely to see if they repeat these practices in the future. I don't get the impression that their top mgmt are very savvy like a McEwan ot Telfer, but I can live with that if they turn out to be honest folks who care about shareholder value.
Fwiw, I expect some great drill reports from them over the near term. Anything less will turn me off real quick.
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