Best Gold Stock: Buy this junior gold miner under $2
Today's Financial News - Posted December 4, 2009
"With 333.75 million shares outstanding, $1.75 currently buys you 1.67 ounces or $2,034.65 worth of this Canadian gold miner’s reserves!"
by J. Christoph Amberger, TodaysFinancialNews.com
Baltimore, MD (TFN): Blame the weakening U.S. dollar for gold’s rise. Or the lousy yields on the dollar and most other currencies. Or the U.S. government’s unchecked rush into generational mega-debt. Or the Made-in-China commodities bubble.
But today, gold traded at $1.215 an ounce.
The gold bubble will not deflate any time soon. How long will this last? As long as the Federal Reserve punishes dollar savers with non-existing interest rates! And that’ll be another year: Not because the world is abandoning ‘fiat currencies’ as the gold bugs proclaim… but because holding dollars is a losing game now — rigged by the U.S. government!
So far, the TFN team has been rubbing our hands as gold went up: Bullion may be up twenty percent for the year. But some of our silver stocks are beating that by multiples!
In the last few weeks, we took 32% gains in just over a month on Silvercorp. (SVM) and 16.2% on Anooraq (ANO) — which was double-digit gainer #71 for members of our premium investment research service, Hot Stock Confidential, so far this year. We have a 70% gain lock on Silver Wheaton (SLW)… and 52% and 39% gains solidly booked on Hecla Mining (HL) and Coeur d’Alene Mines (CDE), respectively.
Bear with me as I put this into the specious fuzzy math of financial newsletter marketers — imagine this as a bold, red headline in Courier font:
"With 333.75 million shares outstanding, $1.75 currently buys you 1.67 ounces or $2034.65 worth of this Canadian gold miner’s reserves!"
But seriously: As gold prices keep moving up in the great game we call the Commodities Carry Trade, this U.S.-traded stock could snag you a cool 30% gain in just a few months. The company has just secured capital to continue development and exploration. The Canadian dollar is working in our favor.
Great Basin Gold trades on the Toronto Stock Exchange under the symbol TSE:GBG. (The slightly higher price reflects the exchange rate of the U.S. vs. the Canadian dollar. If you can buy it without higher transaction cost, we’re all for buying it in Canada. (As a U.S. investor, you automatically benefit from any appreciation of the Canadian dollar.)
For ease of tracking sake, we will be following the U.S.-traded shares at Great Basin Gold Ltd. (USA) (AMEX:GBG).
Buy under $2 with a profit horizon of 20-30% by April 2010.
Next Article: Join the Party: PSC cashes out of Xenonics (XNN) for 28% gains
Be the first to leave a reply.
Your comments are welcome
Follow TFN via RSS or Twitter |
 |
 |
 |
Advertisement
Latest Headlines
- The Big Picture for Sinobiopharma, Inc. (SNBP)
- Beazer Homes USA, Inc. (BZH) and Hovnanian Enterprises, Inc. (HOV) up despite horrid housing news
- The FDA catalyst: 2010 moves in MannKind (MNKD), Roche Holding (RHHBY), Acorda Therapeutics (ACOR) show it still works!
- Steepest drop since Feb. 2009: Here we go again!
- Is the silver run over? Coeur d’Alene Mines (CDE), Silver Wheaton (SLW), Alto Group (ALTO), Hecla Mining (HL), Endeavour Silver (EXK) close down