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Gold/Mining/Energy : Silver Super Bulls
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To: Hawkmoon who wrote (1275)9/14/2011 10:46:05 PM
From: Land Shark   of 1281
 
>Makes me wonder why Gold companies are so undervalued vis-a-vis the POG?

Energy/production costs are up. Production has been falling for many as finding and starting new mines is a difficult proposition. Many are trading at not unreasonable multiples. Some at high multiples like, Goldcorp and Agnico Eagle. There are some exceptions like NGD, which have compelling production going forward. That being said, stocks are out of favour and gold stocks can be like the proverbial baby thrown out with the bathwater. They are showing some life, though.

One final thing, most majors are unhedged in gold (Barrick being one), so that means they don't expect prices to fall.
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