Other than physical PMs, bullets, beans etc, this is a fund I have faith is going up now.
Don’t mean to bum you out over your NXG buy, But you probably could have picked a better gold miner. NXG seems to be one of those companies with a dark cloud following it around. The staked millions on getting their Kemess North project going, only to be shot down by the First Nation (i.e. Canadian Native Americans) Millions invested, wasted for naught. Then last quarterly report or maybe the one before, they divulged they had invested their cash holdings (or a portion of) in mortgage related securities, well we all know how that’s worked out and they took a huge writedown. I owned that company for almost three years, management always said the rainbow was just around the corner. Maybe they have gotten on track, but there is no little supply of disappointed NXG investors. If you bought NXG cause you were looking for a low priced gold stock, you’d probably be better off with AZK, GBN or GSS. Whatever you do, stay away from any companies that are run by Rob McEwen, he hit a home run with Goldcorp, turning it into a multi billion dollar company, but since he left there, everything he’s touched has bee turned to crap. Rubicon (RBY) and US Gold (UXG) are two that come to mind.
Hey, just all my opinion. I have currently 15 different gold/silver miners and I’ve been round the block with most of them.
I've known about the First Nation thing for awhile.
Naw...if I had been paying attention...I'd have bot RGLD at $30....Ha!!
I don't love or hate the juniors...I just think NXG is a buy here.
I know a guy, a good trader that owns 100k shares....but he's underwater for sure. So, I don't take much stock in that...other than I know the guy...and he's got a long time horizon
I darn well could be wrong. Won't be the first time...nor the last.
I'm also short DF....at the moment.
I trade fairly actively.....FReep mail me sometime.
Thanks-
Other than physical PMs, bullets, beans etc, this is a fund I have faith is going up now.