Gold Stocks: BUY! BUY! BUY!
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| Topic: Gold Mining Companies — July 24th, 2008
This is just a quick note to inform our readers that we have bought the following positions in today’s trading, and we are giving BUY signals on the same securities:
We have bought more stock in Agnico Eagle Mines, AEM, at US$59.17, more than doubling our position in the company.
We have bought more stock in Kinross Gold Corp, KGC, at US$18.28, doubling our position in the stock.
We have also bought Call Options in Kinross Gold Corp. We have bought a significant amount of Jan09 contracts with a $20.00 strike price, for an average price of US$2.50.
In addition to this we have bought calls on Yamana Gold Corp, AUY. The contracts are for January 2009 with a US$12.5 strike price and we bought for an average price of US$2.25.
We are signalling BUY on all the above at these prices.
More details of these transactions will follow, this is just a note to tell our readers what we have bought, before the market closes.
We believe this to be a great buying opportunity in gold stocks.
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aem missed their guidance & costs are way up on new mine(laronde) are supposed to cut future profits and you are still bullish??
Comment by dwjonesfvr — July 25, 2008 @ 2:43 pm
” this is just a note to tell our readers what we have bought, before the market closes.”
Huh? I never get your letter on the day you “send” it. I always get it next day.
What’s up?
Comment by jim suard — July 25, 2008 @ 10:26 pm
dwjonesfvr,
Yes we are still bullish and will write it up shortly.
Comment by Gold Prices — July 25, 2008 @ 10:48 pm
Jim,
AEM is cheaper now than when we bought it so you have lost nothing. The distribution system that we use is Feedburner and they only send out the letter every 24 hours regardless of when we write.
Comment by Gold Prices — July 25, 2008 @ 10:52 pm