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Gold/Mining/Energy : Gold & Gold Stock Analysis -- Ignore unavailable to you. Want to Upgrade?

To: KatayamaGorobei who wrote (22967)	12/3/2010 11:18:55 AM
From: Tommaso	Read Replies (3) \| Respond to of 29622

Terrible hit. It all seems to have to do with the announcement that they will be cutting the dividend to 20 cents a quarter for 2011. Investors and funds that had been counting on getting $2.00 for the year instead of 80 cents are greatly disappointed and are bailing out. If it goes much lower, I will be buying, although I already have a huge position, most of it acquired at much lower prices and up to ten years ago. The money not distributed will pay down debt and pay for improved operations on the Syncrude project. This is good in the long run for the value of the stock. There is also the chance that higher oil prices might permit a higher dividend. The current plans are based on $80 oil.