Monday, August 22, 2011

Out of NXG...


@ $3.25 - basically near breakeven on this position, which would end up being a minor loss with commission. Gold hit $1890 today. The fact that it didn't hit $1900 straight away means something could be up. I'm feeling a bit wary, especially since most of the junior miners have really strong short interest.

Out of the three junior miners I got into - TGB, NXG, and PAL - NXG has the weakest balance sheets and is also unprofitable. So, I got out and am going to relaunch a CENX or STO buying effort. I'm keeping TGB for the time being as I was able to buy at near its 52WL and its balance sheet seems OK with more cash than debt as well as both gold and copper properties.


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