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Gold/Mining/Energy : Golden Star Resources Ltd. - A Potenial Ten Bagger
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To: hubris33 who wrote (40)8/12/2006 4:37:49 PM
From: ItsAllCyclical  Read Replies (1) of 44
 
>> Certainly there is some value in GSS that needs to be unlocked. That said if GSS is on line for 500K ounces per year in 2007 why aren't they a target? Seems like NEM, GFI, AU might have their eye on GSS? <<

I don't think they'll make the 500K target in 2007, but still it'll be a sizable increase in production w/a decrease in costs added to the fact as you have observed it's already trading at a discount. Also they've repeatedly stressed that they have the cash on hand to execute this plan vs issuing more shares. I think management is serious about trying to win back the trust of current and future shareholders.

I think they're a target here, but given their high costs other players are probably waiting to see if the BIOX works. TA wise I could see another trip to 2.8 possibly so I'm not going all in yet, but I do have a sizable position here again.

There are still things that can go wrong and nobody wants to own a high cost producer if gold goes under $500 again, but in general things are looking decent again. I'm still waiting for a few more TA signals and some general sector strength before I increase my position again. If the HUI does get washed out in the next few weeks I'll probably want to diversify into other issues vs simply adding more GSS.

NTO does look good, but still waiting for base metals/copper to get hit before I'd consider a big position there. If it doesn't happen oh well.
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