Jump to content
Sign in to follow this  
Erewhon888

Newmont Mining ... and other Major Gold miners

Recommended Posts

Newmont Mining

Owner of Yanacocha, the second largest gold mine in the world

 

http://ecowatch.com/2015/04/23/fight-gold-mine-yanacocha/

 

 

Newmont is majority owner of the massive Peruvian gold mine Yanacocha, the second largest gold mine in the world, and its planned Conga gold and copper mine nearby would be even larger, requiring a farming community to move and the four lakes they rely on for irrigation to be drained.

But the community has so far refused to relinquish its treasured land and lakes, and in response activists say the company has reacted with intimidation and harassment.

One person particularly in the company’s cross-hairs is Máxima Acuña de Chaupe, says activist Mirtha Vásquez, a Peruvian lawyer at Wednesday’s meeting. Acuña de Chaupe’s land abuts one of the four lakes but after de Chaupe refused to sell her land in 2011, nongovernmental organizations (NGOs) like Earthworks reported that her family became the target of harassment and violence in the form of beatings and destruction of the family home. Then Newmont sued her for “land invasion” and violent retaliation, which it lost on appeal in December 2014.

 

https://action.sumofus.org/a/maxima_chaupe/2/3/?akid=10427.8021252.R_M0Vr&ask=5&rd=1&sub=fwd&t=1

Share this post


Link to post
Share on other sites

Are you thinking it is a stock to avoid?

 

Newmont's own chart shows a stock above an important low, but approaching a major resistance level

 

NEM / Newmont Mining ... Two Years

NEM_zps1rzy5qc5.gif

compare:

GDX / Gold Majors, etf ... Two Years : GLD : GDXJ : NUGT : SLV : AGQ :

GDX-2yrs_zps2uyqac4p.gif

RATIO:

GDX-to-GLD: 17.65% : 3-yrs

GDX-toGLD_zpsnriai8js.png

Share this post


Link to post
Share on other sites

Investors reject Barrick Gold pay plan

 

A $13mn pay package for exec. chairman, John Thornton, was turned down.

75% of shareholders voted against it, due to poor stock performance.

Thornton was "to instill a partnership culture at Barrick", where top execs get paid in stock,

which they must hold for the long term

 

(He has picked a good time in the cycle to do that)

 

ABX / Barrick Gold ... Two Years

ABX-2yrs_zps2ruhf1e5.gif

Share this post


Link to post
Share on other sites

... A time to start thinking about Gold once again?

 

I sold the rest of my shares in Sinolink Holdings (HK:1168) yesterday at $1.01. While the shares are undervalued on any objective measure, given the HK market surge over the last few months, I decided it was time to take a bit of money off the table - at the end of the day, the market will always be smarter than I am.

 

Where to invest the money is the next question.

 

The US Dollar seems to have peaked.

Might it be time for Gold and Gold shares?

 

(here's a comment from a friend who writes a newsletter, and manages money):

Dear Reader,
SID has been a great trade up from 2.10 to near 2.70 as I write here today. I am going to take 500 or 1/4 of the position off here. Will look to add if the stock drops towards 2.40 or so. I think it will pullback shortly.
MM is looking very nice down here is up to 1.59. I love the big base this is doing.
As for the market trades BIS up, SOXS flat, TVIX down, JNUG up nicely,

Gold stocks look close to busting out. We actually broke the April and March highs today

and maybe just maybe we are about to see the GDXJ* charge at 30.

David Skarica / AddictedToProfits.Net

 

*GDXJ / Etf for Junior Gold shares ... two years

GDXJ-2yrs_zpsuaidu7am.gif

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×