Member Info for Tom78

For the precious metal miners. I'm really hoping for a turnaround soon but can't see where its going to come from. I put the proceeds of my ABG disaster buy into this, should have gone down the betting shop instead - talk about a fool and his money are soon parted.

Glad i took my losses 70p ago! Never though it could go so low. This must be in a perilous position now.

I agree. This money printiing and low interest rates have caused untold damage to people wealth and pensions . It's high time the bubble burst and when it does gold and precious metals will be the only game in town.. bring it on!

Is a side issue. It has just been paid and if things keep going the way they have then you wont be getting a div like that this time next year - that yield is totally unheard of for a healthy miner. Even safe utilities and defensive shares dont pay that high.

I have a deferred company pension but am basically using my ISA as a flexible pension so hopefully in 30 years when i need it i will have a large amount of quality stock giving a healthy dividend return. Also i can sell the shares and take the capital unlike a pension where you give them a hundred grand and they tell you what you get each month - no thanks.

Thanks for letting me know i'm not twisted, although if watching deal or no deal i do have a little chuckle if someone wins the penny.. Cos its not their hard earned money anyway and a penny is a damn sight more money than i made out of this share over the last year :)

Of course i dont want people to lose money , i have lost heavily here as well but dont want to see people getting burned even more. Still everyone makes their own choices.

I'd think you'd have to be very carefull putting cash in here. Severed pinkies i think !

Who knows, but watching this pile of whatsit go down the tubes is quite entertaining!

Tabes how are you doing? Still in this dog u must be down thousands :( i sold out a while back at 177p and glad i did. Jolly has been calling this a sell for weeks and i think a few should heed his advice.

Yes being a major company does not mean the costs are lower just a bit less risky with more resources and expertise to deal with issues etc. IIRC Allied had very high costs at its mines higher than ABG at the time so those mines currently must not be very profitable.

Not sure i'd personally touch AAZ with a bargepole as AIM gold miners are beyond risky. Remember Allied gold well i lost my shirt on that one as well and even though it was eventually taken over the takeover offer was cash and some almost untradable shares in an Australian firm totalling to much less than my initial stake. If the Majors of this world in the mining sector are finding it tough going the minnows will struggle even more. Seems like sentiment is still very against gold and the miners at the moment and i have not changed my view on waiting to see how things pan out. Of course there is always a chance of being left on the sidelines but once bitten twice shy.

If that happens then at current costs per ounce this would be well and truly busted.

Certainly am, but watching this go ever lower is quite captivating. Will it ever find a bottom?

Whats that in English?

Best of luck with your investment, it sounds like you've got it all worked out. I'm keeping away from precious metals untill the dust settles a bit i'd probabaly go for Randgold or Fresnillo as they are larger companies with a bit less risk than this one. I think a lot of the problem is percieved value against how the market values it, everyone thinks this is cheap based on previous share prices of 6, 5, 4, 3, 2, 1.5 pounds a share. Based on that I don't think anyone could rule out 1 pound a share thats 33% of your money gone even from here.

Those are good points. However I held Tesco as well when it had a 16% drop and i wasn't concerned either i bought more at 330 and now showing a good profit on those shares. Trouble is here it has gone down a lot more than 20% in months and is now valued at only 25% of its inital IPO price a shocking 75% drop with a gold price similar to today. ABG vs Tesco is a totally different beast in terms of company and market cap. Oh and Also as for Warren Buffet he has always said gold is a lousy investment, he prefers Tesco and i can see why!

To see ABG this low. Only some years back i bought these for 530p tanked down bought some more and managed to get all my money back. Fast forward a year and did the same. Fast forward to now and bought at 340 and 240p ! The share seemed doomed and took my losses on the chin at 177p. This could turn around but ultimately it depends on the price of gold which i believe will fall further. Unless costs can be brought down the company will become loss making, and a gold mine is not such a gold mine afterall.

Because the share price is mirroring POG which is affectionately known as the 'DOG' ie a very poor or underperforming share.

This is about as unfriendly as it can get. Anyone putting money in here is very brave indeed. Too risky for me now.