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   Gold/Mining/EnergyBarrick Gold (ABX)


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From: canucklehead809/14/2012 4:12:31 PM
   of 3558
 
Auguries — Seeing Red
Kevin Michael Grace
Seeing Red


Gold was up (at press time) $81.70 (+4.9%) for the week to $1,739.30, and silver was up $3.25 (+10.7%) to $30.48. According to GoldCore, “Gold rose in anticipation of the ECB embarking on another money-printing exercise with a potentially unlimited bond-buying program.”

Reuters reports, “Gold shot up 2% on Friday for the second time in two weeks, hitting six-month highs…. Spot gold bolted up by $30 an ounce just after the US Labor Department reported that nonfarm payrolls rose 96,000 last month, well short of expectations for a 125,000 rise…. ‘Gold is going through the roof because this negative data makes QE3 more likely now,’ said Daniel Briesemann, commodities analyst at Commerzbank in Frankfurt.”

Read more about gold prices and Barrick.

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From: BitterSalt4/2/2013 8:54:18 PM
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My gold work: Long on SGGDX (401K), GLD (IRA) and ABX . ABX at about 4 year lows; GLD at mid 2011 levels; SGGDX at mid 2009 levels. I have continued to strengthened positions in all 3. ABX is the short term investment. A target of 56 in the next 18 months is not unreasonable. Even if there is no technical evidence of a turn around soon, I am prepared to add, in wide spans on the way down ie $2. ABX is no loser. It is "best of breed", like GG, in a dipping sub-sector. I looked at physical gold but could not figure out a good way to buy, store or sell safely and cost effectively. I simply do not know how the game works. So, I pay the ETF guy (GLD) for long term protection from market dips during retirement; take the risk with ABX and hold SGGDX (5 star rated fund) with its 15-17% physical gold exposure and diversified exposure to miners, etc. All in all, gold stuff is about 15% of my portfolio .. not really comfortable with more than that.

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To: BitterSalt who wrote (3530)4/2/2013 10:34:59 PM
From: Bocor
   of 3558
 
ABX is the short term investment. A target of 56 in the next 18 months is not unreasonable


Are you kidding or just a new investor? April 1st was yesterday.

Not that I wouldn't love to see $56, but what gives you that idea?

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To: Bocor who wrote (3531)4/3/2013 7:29:52 AM
From: BitterSalt
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finance.yahoo.com : 12 Month Price Target: Mean 46.00, High 62.00, Low 37.00; based on 23 brokers.

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From: BitterSalt4/10/2013 8:32:37 PM
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Chile court suspends Barrick Gold mine [ story ] (CBC News). Double wammy today. Chile problems and gold sector drop. -8.36% ... buying opportunity but not a pleasant one for me. I need to learn more about Chilean politics. I had a tough time breaking even with BMA and YPF (both Argentina) because of political things. Thought Argentina was the risk. Didn't see Chile bringing out the hammer.

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From: BitterSalt4/11/2013 12:22:59 PM
1 Recommendation   of 3558
 
Financial Sense News Hour Gold - Southern X posted this on the ORT topic:
Jim Puplava’s Big Picture: An In-Depth Conversation on Gold with John Kaiser
This is the most informative audio I have ever heard explaining gold price, miners situation, short selling on juniors (like ORT) , and direct references to ABX. Offers some hope for September turn around. With Goldman Sachs gold setting target in the 1400's this may be painful. I have to remind myself this is an investment and I am looking 18 month out. BTW the audio even mentions "environmental rain of terror" . Concerning ABX, I hope that isn't what is happening in Chile.

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From: BitterSalt4/12/2013 6:10:39 PM
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Going to cycle out of my REIT into the ABX. I am OK with more concentration in ABX for a few months. Will sell off on the way up, enough to balance the portfolio, at my basis + costs. Sure looks like $17-$19 is possible. Two more lots then I will have to sit. Panic due to set in on the weak of heart. Just like a real roller coaster you get sick to the stomach bottoming out.

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From: BitterSalt4/23/2013 4:03:16 PM
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Concerning the Pascua Lama operations in Chile and Argentina. Does anyone have a feeling for the intentions of the environmental activists and the indigenous peoples' case against ABX? Is it a general complaint for all gold miners? The industry? Capitalism in general? In other words, is the issue more than just the water quality and glacier preservation? Have the rules changed out from under ABX since the planning stages and approval process .. $8billion later? I know environmental issues can be fixed but political issues sometimes can't be fixed. Well, I am sticking with ABX in spite of recent downgrades and lower price targets :(

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From: james flannigan5/3/2013 9:50:42 AM
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Midas is ripe for a take over. Its deposit is nearing now 10 million oz.

ABX would be wise to bid for a safe deposit in mining friendly Idaho:

Global Mining Research Mining Exploration - BMO Capital Markets ...
Read more at http://www.stockhouse.com/bullboards/messagedetail.aspx?p=0&m=32529615&l=0&r=0&s=MAX&t=LIST#LBMe2bzC1xpMP74W.99

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To: james flannigan who wrote (3537)5/3/2013 3:41:01 PM
From: BitterSalt
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Agreed, MAX would be nice if ABX could find $100 million to spend. South American politics is very unstable ie: Argentina and Chile. I am concerned it is not the environment that is Barrick's problem. All gold miners are under some form of "anti-capitalist-environmentalist complex" pressure. I am studying the possibility of a lateral move from ABX to AEM AGNICO EAGLE MINES LTD ( AEM ). AEM's interests are in Canada, Finland, and Mexico. Mexico is developing into a great economy. Possibly the "Canada of the south" from USA perspective.

Well anyway, lets see what the new ABX people do in Chile after Barrick cleaned house.

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