Whats gonna happen to the miners? Is this dip going to affect shares?

I will be like a kid in a lolly shop with a handfull of coupons, sold out of a couple of the above recently so have a little powder I am trying to add to at the moment , any suggestions apart from those already mentioned ?
I'm liking the look of BGS still and have been adding on the drops,as well as KDR anyone else buying these ?
 
trew said:
Monday might be a good day for putting in lowball out of market orders on gold miners
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Time to try out some of SilverSanchez's patented "stink bids"(TM). :cool:
 
Base metals were hit also on friday, but nowhere near as bad as PM's, and the ASX futures were down 23 points. Might see some follow through on that Monday morning so I might be shorting the general index also. That one I can trade earlier than market open so might be a better option. Nothing drastic, just a 3-4 contracts at most.
 
Considering the way the sector has reacted over the last few months whenever spot drops more than 2%...Monday's going to be brutal. Think the majority will be more in the 8-10% area ><
 
I am tempted to put in lowball offers, and if accepted get out quickly when a small profit appears or if it doesn't.
 
My 'best value' picks would be

Regis (RRL)
Kingsgate (KCN)
Troy/Azimuth (TRY/AZH)
Beadel (BDR)
SilverLake (SLR)
Evolution (EVN)
Newcrest (NCM)
NorthernStar (NST)

No particular order and I have numbers in mind - we'll see who is down to crazy levels
 
I put in an order for NCM below $17 just for a joke, now I'm thinking it might actually get there !
 
After considerable thought, I'm not going to touch NCM any time soon, at any price.

They have too much debt, and keep on missing their targets. They are unhedged, which is fine if in a rising gold price market, but it seems the gold price is falling....

It just concerns me that if a company this size can't make any money and is loaded up on debt, it does not matter how many 'ounces in the ground' they have.......they have been mismanaged and I see better value in some mid-cap profitable producers.

Maybe I will change my mind in future, but steering clear for now.
 
glam said:
After considerable thought, I'm not going to touch NCM any time soon, at any price.

They have too much debt, and keep on missing their targets. They are unhedged, which is fine if in a rising gold price market, but it seems the gold price is falling....

It just concerns me that if a company this size can't make any money and is loaded up on debt, it does not matter how many 'ounces in the ground' they have.......they have been mismanaged and I see better value in some mid-cap profitable producers.

Maybe I will change my mind in future, but steering clear for now.
Click to expand...

OK, bad choice of words on my part. They do make money, but with decreasing revenue and profits, and now a decreasing gold price I cannot justify the current valuation. It will need to become more attractive before I get tempted, and I suspect it will.
 
Well I thought there would of been more blood on the sidewalk today, but only ended up with a bloodied nose......better fix it with a tissue up me nose :)

Some of the stocks weathered the storm quite well......for today that is lol
 
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