IMO the best way to play are with advanced staged exploration deposits and lightly hedged small producers with lower costs (in the top quartile: under $190 cash cost). Huge leverage off of very nominal valuations.
Names: Arizona Star, Birim, Cumberland, Dundee Precious Metals, Francisco Gold, Gold Reserve, Great Basin, Iamgold, Glamis, Madison Ent, Meridian, Minefinders, Moydow, Nevsun, Rio Narcea, Solitario, Tan Range, TVX, Nevada Pacific, Metallica, Tenke. Add only Franco-Nevada among bigger names.
I really like the fundamentals for Iamgold and have recently noticed Gold Reserve (my Dad showed me an article clipped from Globe & Mail last October).
These two offer especially attractive value IMHO, although I haven't looked at many of the other smaller producers on your list.
I don't have a position in any gold stocks yet but have had a really cheap bid out on IMG for a couple of weeks now (saw it on the bid briefly but it is quite thinly traded).
Russ I really value your analysis of the miners, I'll let you know that I've had you peoplemarked since earlier this month. And I've also bookmarked the SI threads for IMG.TO and GLRa.TO. |
