Bobby and all, since I'm still a Kinross holder, thought I'll add my 2 cents. If gold recovers to the $350-$370 level, Kinross would go back up to the $9/$10 range. After being burned by juniors, I think that as a speculative play, it's better to stick with the medium tier gold producers like Kinross and TVX Gold, and of the two, I'll pick Kinross. Kinross recovers quicker than the other medium tier gold companies. I remember during the first run up in the gold sector a few years ago, Royal Oak and Echo Bay and even Sunshine Mining (silver producer) were on the most actives nearly everyday and were at 4 times their present price. Royal Oak, a high cost producer, just narrowly escaped bankruptcy recently. Comparatively speaking, Kinross had really done quite well during this downturn, and my kudos to the ones who averaged down on Kinross during the past months. Really a first class company.
Gold may still trade down. There may still be another opportunity to buy Kinross at a lower price.
On reviewing past news releases concerning Kinross, I note that The Ontario Teachers' Pension Plan Board now has beneficial ownership of the company of 12,660,936 shares. If Kinross is considered as a good investment for a pension plan, it's good enough for me.
Regards.
Anthony |
