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Gold/Mining/Energy : Gold and Silver Mining Stocks
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To: Eclectus who wrote (554)1/28/2001 1:40:12 PM
From: Richard Mazzarella  Read Replies (3) of 4051
 
Eclectus, I have been thinking about buying HGMCY, but still concerned about South Africa. HGMCY is aggressively consolidating other miners, have positive earnings (low P/E), and even post a dividend. The Rand devaluation increases their profits. While they assimilated some hedging operations, their philosophy is to not hedge, my philosophy in the face of gold bottoming. I currently expect HM to run a little faster than HGMCY (as a percentage (rate)) and may take some profit as HM tops and buy HGMCY. Any of the other miners considered as unhedged would also be good candidates. However, use TA to make short term decisions. IMO buy the large unhedged miners anticipating the upturn in gold and then shift some profit into the unhedged juniors as the gold bull market is confirmed. Diversification is always useful, then even a wrong move can leave you with capital to play another day.
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