I do not own it (yet), but I have seen worse charts than this daily one of NEM (look at that cute little Inverted H&S), pulling back toward a support area. The reasons I am interested are that it is a dividend paying senior gold miner and it is also the acquirer of NFTRH's long time star portfolio performer, the former Fronteer Gold and its Long Canyon property in Nevada. I loved that stock (and yeh I know yer not supposed to love 'em).
Edit (11:41) While not a mining or stock analyst, taking a look at Newmont has caused me to dial in a bit to some recent challenges facing gold producers as they 'write down' certain projects due to costs (NEM wrote down the remotely located Hope Bay which, if memory serves was the project they acquired in a buyout of Miramar Mining years ago?). Then there is AEM with Meadowbank, which again if memory serves was the property of the former Cumberland Resources (I am dating myself I know). This was another geographical outlier I think. Well, before this turns into an NFTRH segment, I'll can it here. But there is food for thought, including with regard to a current NFTRH holding. The gold sector is never boring, that's for sure.
Edit (11:53) Point was that there appear to be some complexities in the way costs must be reported that could be pressuring the seniors to write down lesser performing projects.
http://www.biiwii.blogspot.com
http://www.biiwii.com
Edit (11:41) While not a mining or stock analyst, taking a look at Newmont has caused me to dial in a bit to some recent challenges facing gold producers as they 'write down' certain projects due to costs (NEM wrote down the remotely located Hope Bay which, if memory serves was the project they acquired in a buyout of Miramar Mining years ago?). Then there is AEM with Meadowbank, which again if memory serves was the property of the former Cumberland Resources (I am dating myself I know). This was another geographical outlier I think. Well, before this turns into an NFTRH segment, I'll can it here. But there is food for thought, including with regard to a current NFTRH holding. The gold sector is never boring, that's for sure.
Edit (11:53) Point was that there appear to be some complexities in the way costs must be reported that could be pressuring the seniors to write down lesser performing projects.
http://www.biiwii.blogspot.com
http://www.biiwii.com
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