# IAMGOLD Corp. (IMG.TO)



## Sherlock (Apr 18, 2010)

Gold mining company with most of its operations in Western Africa and South America.

It dropped almost 20% on Wednesday when it reported lower earnings than expected, however BMO Nesbitt Burns is advising clients to snap it up while it's down and has upgraded it to "outperform".

52 week range is $9.20 - $21.38 and currently trading at just under $12.

Also one of the few gold stocks that pays a dividend, yield of just over 2%.

Anyone else hold it? I bought some, it's now one of two gold stocks I own, the other being CSI (Collosus Minerals).


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## Jon_Snow (May 20, 2009)

I just about jumped in on this today... but as per usual, I didn't. I did extremely well trading Goldcorp to a lesser degree Barrick earlier this year. I sort of don't want to tempt fate. But yes, IMG may well be a screaming buy right now. I'm on holidays in Mexico right now and am sort of well lubricated for much of the time, so buying stocks may not be prudent at this juncture. :biggrin:


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## larry81 (Nov 22, 2010)

look like a solid mid-term play from my point of view... might buy a piece !


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## Jon_Snow (May 20, 2009)

Bought 1000 shares at the open.... already up 1.5%! Time to head to the beach!


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## underemployedactor (Oct 22, 2011)

I bought some IMG yesterday too, as well as jumping back into Goldcorp. Bought Barrick a couple of days ago, though I think I might swap it for Goldcorp or maybe Franco Nevada as everyone is banging the table about owning royalty streamers and not miners.


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## larry81 (Nov 22, 2010)

Anyone ?


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## Jon_Snow (May 20, 2009)

Bought this too early, apparently. In days of yore I would be quite cranky about this... but I can afford to wait this one out.

In fact, wondering if I should buy a bit more. Looks really, really, cheap now.


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## thenegotiator (May 23, 2012)

the new kinross:biggrin:
it is getting really appetizing


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## Betzy (Feb 7, 2011)

Bought 100 shares 2 days ago, now down more than a buck! Figures...


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## Toronto.gal (Jan 8, 2010)

I was watching it this morning...hmmmm, 2 buy or not, that is the question.

*TN:* yea, it does look like the new K, in price as well [both at $8+]. :hopelessness:


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## thenegotiator (May 23, 2012)

Toronto.gal said:


> I was watching it this morning...hmmmm, 2 buy or not, that is the question.
> 
> *TN:* yea, it does look like the new K, in price as well [both at $8+]. :hopelessness:


well
i said that when?
dec/10?
according to some members here i "SoMeTiMes" provide good input T.gal:rolleyes2:
now ... now do not ask me where is the bottom ok?
as for tech stocks i suck very very very much.
trade accordingly


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## Jon_Snow (May 20, 2009)

I bought 1000 shares of this @ 11.50, think about how I feel. :hopelessness:


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## thenegotiator (May 23, 2012)

i feel that everybody pays for their mistakes.
there is no feelings or emotions in trading.
just like i sold AMD at loss to see it come back.
i do not care to cut losses.
nevertheless do not forget that i am trader not a stock holder.
therefore those losses from tied up capital were reverted to gains when i bought oil at the lows.


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## thenegotiator (May 23, 2012)

Jon_Snow said:


> I bought 1000 shares of this @ 11.50, think about how I feel. :hopelessness:


hint... if u want to hold it .... i do not hold anything at loss.... never

it will go up when u run out of sellers.
keep an eye on institutional volume.


p.s Gold is on the way to retest the lows.
i think i said in the gold thread that it was a risky play to go l,ong on it.
whoever did they better have gotten out at the highs when resistance was hit at 1696 level.
key very key resistance level.
i said that tooo did i not?


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## Eder (Feb 16, 2011)

I'm in at $8.54. I'll be out on Feb 19th though.


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## Betzy (Feb 7, 2011)

Why Out feb 19th?


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## Toronto.gal (Jan 8, 2010)

Q4 on Feb. 20th, that's why.


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## Eder (Feb 16, 2011)

Tgal knows all again. I do think I have the 20th as well since they report end of day but I want to beat all the people with the same idea.


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## KaeJS (Sep 28, 2010)

I want to buy 1000.

But not above 8.50.

I have a feeling it may never touch 8.50 again though.


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## KaeJS (Sep 28, 2010)

1000 at 8.50


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## thenegotiator (May 23, 2012)

KaeJS said:


> 1000 at 8.50


won a lunch and lost the dinner so far?


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## KaeJS (Sep 28, 2010)

thenegotiator said:


> won a lunch and lost the dinner so far?


I sold yesterday at $8.67.

But thank you for your concern.


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## thenegotiator (May 23, 2012)

KaeJS said:


> I sold yesterday at $8.67.
> 
> But thank you for your concern.


ha 
if u liked at whatever price u bought.
u like it much more today do u not?


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## thenegotiator (May 23, 2012)

thenegotiator said:


> ha
> if u liked at whatever price u bought.
> u like it much more today do u not?





KaeJS said:


> I sold yesterday at $8.67.
> 
> But thank you for your concern.


ur welcome.....


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## Sherlock (Apr 18, 2010)

When do you guys reckon this stock will bounce back?


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## dogcom (May 23, 2009)

It seems to me that all the energy or money is being put in the main stock index like the S&P and very little attention is being paid to the miners. You can see they have gone in opposite directions since September. I think whenever the interest finally pulls back from the overbought stock market and people start to look for something that hasn't gone up so much they may start to turn to the miners. However if the market goes into a huge selloff I don't think the miners will be immune but instead hold up much better by dropping much less.


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## thenegotiator (May 23, 2012)

dogcom said:


> It seems to me that all the energy or money is being put in the main stock index like the S&P and very little attention is being paid to the miners. You can see they have gone in opposite directions since September. I think whenever the interest finally pulls back from the overbought stock market and people start to look for something that hasn't gone up so much they may start to turn to the miners. However if the market goes into a huge selloff I don't think the miners will be immune but instead hold up much better by dropping much less.


dog
when u say s&p u have to be more specific aas to what sectors of the s7p had the REAL rally.
as for miners if a selloff happens which i think is inevitable everything goes.
its a tough call.
miners are not immune .
there is a chance that quite a bit maybe priced in in certain companies.
like i said to ya .
u have to spend more time to dissect what really had a rally in this very nice rally .
find the sectors and take it from there.
those sectors will suffer the most.
yet again GL in ur trades.
not sure if u really are putting all ur capacity to find out what is what.
no pun intended.


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## Toronto.gal (Jan 8, 2010)

Sherlock said:


> When do you guys reckon this stock will bounce back?


Just last month the company did forecast higher operating costs for 2013, so the share price has been punished accordingly. 

It hit a new 2013 low today; the new K for sure.

It has been funny to read all the various current cut target prices, and compare them to the increased target prices of just a couple of months ago.

Takeover target?


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## al42 (Mar 5, 2011)

Takeover target? 

I'm hoping so..I picked up a few thousand shares at $6.75 today. 
Wasn't thinking of a takeover though just thought it was way oversold.
And with close to a 4% yield, unless they cut it , I figured it was a good place to park some cash for now.
But then again I tried the same thing with Kinross and got burned. hopefully I do better with this one.


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## Magic (Jan 11, 2013)

in my view, img is being in long term down trend, there are no any signal for buying it.


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## 1sImage (Jan 2, 2013)

Added a small size position today, i've been watching for awhile now waiting and finally jumped in.

Got in at 5.27


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## Jon_Snow (May 20, 2009)

I got in at $11. :hopelessness:


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## 1sImage (Jan 2, 2013)

Sold today at $5.56, 

A 24hour $966.57 profit.

come back down again will ya!!


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## Jon_Snow (May 20, 2009)

Oh yeah baby!


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## 1sImage (Jan 2, 2013)

Damn, what a miss!!!


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## GoldStone (Mar 6, 2011)

<OT>

1sImage, your signature is just plain wrong. :hopelessness:

Start at $0, add $1K monthly, compound at 8% annually. Need 26 years to reach $1M.
Start at $1M, add nothing, compound at 8% annually. Need 9 years to reach $2M.

The first million is the hardest. Change your signature!! :biggrin:

</OT>


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## Toronto.gal (Jan 8, 2010)

1sImage said:


> Damn, what a miss!!!


An almost $1K profit overnight, on a lil stock like IMG, is not exactly a miss.

What could be considered a miss, was not to have purchased yesterday, as the stock dropped roughly 3% from your sell price just the day prior.

Though it could have gone either way, I bought gold before 2 p.m. as I figured the price was still dirt cheap [for all gold stocks, in fact, but I only bought one, the one that gave me a bit of a clue as to what was to come], so the downside potential I figured had been limited, and I had more cash set-aside for additional tranches after 2, that had not been necessary after all.

I still hold IMG shares purchased last week & prior to that as well; my target sell for those = JS's purchase price.


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## Toronto.gal (Jan 8, 2010)

GoldStone said:


> 1. Start at $0/add $1K monthly/*compound at 8% annually*. Need 26 years to reach $1M.
> 2. The first million is the hardest.


*1.* But that's all wrong, at least the 3rd part, or have you not been following 1sImage's posts.  
*2.* In most cases, that would be true!


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## 1sImage (Jan 2, 2013)

Expecting a big move today upwards. Added 5000 shares this morning.


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## Toronto.gal (Jan 8, 2010)

Since pretty much everything I was interested in yesterday was up, except for gold, that's what I went for once again!


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## underemployedactor (Oct 22, 2011)

CEO Letwin is still banging on about the virtues of low grade deposits. If gold prices continue to decline I don't know how well this is going to turn out for them.


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## al42 (Mar 5, 2011)

Back in again @ $4.70 for a couple of thousand shares. was hoping it would get to $4.5 but I couldn't resist today.


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## Sherlock (Apr 18, 2010)

I was in a few days ago for $5.00. What is your target sell price?


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## al42 (Mar 5, 2011)

I'd be happy with 6 bucks.


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## lonewolf (Jun 12, 2012)

LEO rules gold. The peak in gold about a month ago occurred the day Mars entered LEO.


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## Toronto.gal (Jan 8, 2010)

lonewolf said:


> The peak in gold about a month ago occurred the day Mars entered LEO.


The fiery red planet actually left Cancer for Leo 43 days ago, or to be exact, on Aug.27th in the evening, but the peak in gold prices, at least for IMG [and others], occurred on Aug.26th to be exact. :biggrin: 

Returning back from the fiery planet to the cooler/wetter blue planet, since I trade gold [as opposed to buy/hold 4ever], I have various entry/exit pricing strategies; the cheaper I buy, the longer I hold.

Anyhow, quite a few swing point lows & highs since the day Mars entered Leo. :chuncky:


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## blin10 (Jun 27, 2011)

why do you people even bother with gold, it's pure speculation/gamble, it's not an investment


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## 1sImage (Jan 2, 2013)

10000 shares now!!!

Go gold


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## Toronto.gal (Jan 8, 2010)

blin10 said:


> why do you people even bother with gold, it's pure speculation/gamble, it's not an investment


And why do you people don't leave the gold bugs/gamblers to their own? 

We're making money; just look at the charts, not just the lows, but the highs also.


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## FrugalTrader (Oct 13, 2008)

Toronto.gal, are you buying IMG at these levels?


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## Toronto.gal (Jan 8, 2010)

The stock is trading at about -60% this year alone, so yes FT, I'm buying at these levels [but I'm also selling/holding for the hopefully higher upside]. I sell to cover my investment costs.

I luckily entered late in the game, when price had already collapsed. However, that was not the case with my other gold stocks [ELD/YRI], but doing ok. there as well, taking advantage of the low & high swing points.

Also thinking of a small 'gamble' with a company whose price went to the basement following a foreign ruling recently [no, not ABX].


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## blin10 (Jun 27, 2011)

Toronto.gal said:


> And why do you people don't leave the gold bugs/gamblers to their own?
> 
> *We're making money*; just look at the charts, not just the lows, but the highs also.


who's we ? bet you out of 1000 gold investors probably 10 make money... not to mention, traders like 1stimage might learn the hard way if gold dips below 1000.... abx is below 1999 lows, gg,yri,aem is at 2006 lows, img is at 2001 lows, and just because they are at the lows doesn't mean they'll bounce, gold has long term cycles


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## Toronto.gal (Jan 8, 2010)

blin10 said:


> 1. who's we?
> 2. bet you out of 1000 gold investors probably 10 make money
> 3. gold dips below 1000...


*1.* It was in response to your: 'why do you people?' [since you previously asked the gold buyers the same question]. 
*2.* There are all kinds of investors blin; but even when I trade gold short-term, it's no casino for me. 
*3.* And it can dip below that even, am well aware of that, and why I focus on stocks that are near the ground, and that I don't believe have much further down to go [but never say never].

There are always those that bet large, but at the end of the day, it's their business. Speaking for myself, I do my best to navigate the casino if you will [mostly with profits], but without losing.


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## blin10 (Jun 27, 2011)

ok makes sense


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## Sherlock (Apr 18, 2010)

blin10 said:


> why do you people even bother with gold, it's pure speculation/gamble, it's not an investment


IMO it's not speculation because I evaluated Iamgold and like the company... I am not really buying gold, I am buying the management expertise of a company which happens to be mining gold. That said, I would never have more than a very small portion of my portfolio in gold/metals.


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## blin10 (Jun 27, 2011)

Sherlock said:


> IMO it's not speculation because I evaluated Iamgold and like the company... I am not really buying gold, *I am buying the management expertise of a company which happens to be mining gold*. That said, I would never have more than a very small portion of my portfolio in gold/metals.


you do know that management can be the best but they all depend on a price of gold...


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## blin10 (Jun 27, 2011)

if GLD will not hold 117 level, look out below


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## 1sImage (Jan 2, 2013)

Here comes the boom.


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## Synergy (Mar 18, 2013)

1sImage said:


> Here comes the boom.


What's up with gold futures this morning?


> Futures at 6:20: Dow -0.35%. S&P -0.2%. Nasdaq -0.1%. Crude -0.5% to $101.77. *Gold +1.9%* to $1306.80.
> Ten-year Treasury Yield -3 bps to 2.63%


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## 1sImage (Jan 2, 2013)

One of china's credit company's cut there rating on the USA credit ratings.


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## 1sImage (Jan 2, 2013)

blin10 said:


> who's we ? bet you out of 1000 gold investors probably 10 make money... not to mention, traders like 1stimage might learn the hard way if gold dips below 1000.... abx is below 1999 lows, gg,yri,aem is at 2006 lows, img is at 2001 lows, and just because they are at the lows doesn't mean they'll bounce, gold has long term cycles


Sold today for a $1360 profit...
$2400 in 2 passes...


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## PatInTheHat (May 7, 2012)

1sImage said:


> Sold today for a $1360 profit...
> $2400 in 2 passes...


Very nice. I almost pulled the trigger on this one a few times at the $4.5 range but haven't had the stomach for gold lately.


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## Toronto.gal (Jan 8, 2010)

1sImage said:


> Sold today for a $1360 profit...
> $2400 in 2 passes...


2nd time a day too soon, nonetheless, excellent short swing-trades! 

I'm holding 1/2 of my shares until $11.


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## Jon_Snow (May 20, 2009)

1sImage said:


> Sold today for a $1360 profit...
> $2400 in 2 passes...


Sold a bit early, eh? 

And regarding your rather enthusiastic signature - the second million is actually the easier one.


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## 1sImage (Jan 2, 2013)

I actually put in a bid this morning when I could have gotten it at $5.18 for 5000 shares. But canceled it close to 9:30 am.
Do any of you guys have the option to buy after hours? 
I need to do some more research on that option.


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## Andrej (Feb 25, 2010)

Anyone buying? $4.18 now. Anyone calling a double bottom for gold


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## Eder (Feb 16, 2011)

I think all gold shares are getting close to a buy...most of the gold bugs gave up posting about the metal a few months ago. I'm thinking on plugging my nose and buying some Goldcorp...tax loss selling should be over soon.


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## fatcat (Nov 11, 2009)

what exactly is the driver for higher gold ?

there is continuing speculation about the end of qe and perhaps some of this recent pullback is pricing in the end of qe

i don't see what will bring gold higher ....


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## 1sImage (Jan 2, 2013)

Dividend is coming soon I believe.


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## Synergy (Mar 18, 2013)

fatcat said:


> what exactly is the driver for higher gold ?
> 
> there is continuing speculation about the end of qe and perhaps some of this recent pullback is pricing in the end of qe
> 
> i don't see what will bring gold higher ....


Personally I see more downside then upside potential, at least in the short term. But should QE get unexpectedly pushed back again, we could see another pop in gold prices. Also, China may help to push gold prices higher. I'd be more inclined to wait and see how things pan out over the next few months.


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## Eder (Feb 16, 2011)

I dont think gold is a buy, I think quality gold producers are a buy soon. Big difference imo.


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## blin10 (Jun 27, 2011)

1sImage said:


> Sold today for a $1360 profit...
> $2400 in 2 passes...


that's good, but you usually post how much you made and never how much you lost... and it's impossible for you not to loose when you trade


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## 1sImage (Jan 2, 2013)

blin10 said:


> that's good, but you usually post how much you made and never how much you lost... and it's impossible for you not to loose when you trade


Took a 16k hit on parts spent on my New jeep.


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## blin10 (Jun 27, 2011)

I wouldn't brag with a jeep lol...


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## 1sImage (Jan 2, 2013)

Lol if I was bragging I would have posted this. 









Or this.


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## blin10 (Jun 27, 2011)

you killing me, you're bragging with few bikes and subaru? ya dude you balling hard


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## 1sImage (Jan 2, 2013)

What do you drive a 328 BMW?


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## blin10 (Jun 27, 2011)

1sImage said:


> What do you drive a 328 BMW?


brand spanking new m5, i didn't want to say it not to ruin your ego though...


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## 1sImage (Jan 2, 2013)

blin10 said:


> brand spanking new m5, i didn't want to say it not to ruin your ego though...


Very nice!! The blue one?


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## blin10 (Jun 27, 2011)

1sImage said:


> Very nice!! The blue one?


black one, should of picked dark graphite though


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## Jon_Snow (May 20, 2009)

Sorry 1sImage, the M5 blows all your toys out of the water combined. :biggrin:

Quite an entertaining little "my **** is bigger than yours" contest though. Also a bit sad.


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## blin10 (Jun 27, 2011)

it's all in good spirit... little motivation never hurt anyone :>


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## Toronto.gal (Jan 8, 2010)

^ I found the posts entertaining. Boys & their toys. 

Well, I may be down on 99% of my gold stocks, but at tolerable levels, especially IMG since I've been buying very cheap [in tranches] and only did so in 2013/have zero realized losses/booked profits several times this year, then repurchased them when they would repeatedly drop. And just sold a gold stock that got flattened earlier this year due to Romanian politics, for 26%, in less than a month. 

Tough for the buy/holder, especially those who purchased prior to the spectacular gold crash, but the almost predictable ups and downs, has made gold easy to swing-trade.

IMG currently below $4 on the US side; at that price, how low can it go? Dividend should be cut.


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## 1sImage (Jan 2, 2013)

Jon_Snow said:


> Sorry 1sImage, the M5 blows all your toys out of the water combined. :biggrin:
> 
> Quite an entertaining little "my **** is bigger than yours" contest though. Also a bit sad.


No doubt... That car would prob beat my bike...lol
I like having the option to take a different vehicle everyday of the week. There's only 2 of us.
This is what I pick up last week. Nothing to brag about but I love driving this car for some reason. 










Back on topic here. I am also down on I am gold right now. Bought in at 4.60 and again at 4.40. 
20000/shares Total
I will by more if it goes under 4.


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## blin10 (Jun 27, 2011)

that's what I mean, you made 2-3k on that trade but now down around 10k and the big problem here is that there's a good chance gold might go lower and can stay like that for years while you're not getting paid to wait (divi might get cut)...and at the same time you want to buy more, this is an investment suicide, because not only are you trying to catch falling knife, you're investing in something that has no set value (value is speculated)... you also got 20k shares so you're around 100k in, as a trader you should know not to risk more then 5% of your portfolio on a single stock like that (rule number #1, cash preservation) and i doubt you got 2mill account... but hey, you might get lucky with gold bouncing back to 1800 and you'll double your money, kind of like in casino playing roulette, never know



1sImage said:


> Back on topic here. I am also down on I am gold right now. Bought in at 4.60 and again at 4.40.
> 20000/shares Total
> I will by more if it goes under 4.


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## Jon_Snow (May 20, 2009)

Interesting lifestyle you have there 1sImage. I have chosen to become financially indepedant in my early 40's rather than "live it up" like you appear to be doing. I must admit, after seeing how you roll, I wonder if I have chosen the wrong path.


Not.


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## jcgd (Oct 30, 2011)

I could be mistaken but it has been implied that 1sImage has a substantial net worth. Not that I care, this thread is certainly entertaining.


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## SpendLessEarnMore (Aug 7, 2013)

I couldn't fit in the picture my moped, 1997 Corolla and 1993 Sentra. I'm mid-30's and have put in my job resignation already. I'm balling now no worries of waking up having to go to work. I'll be enjoying the tropical weather 12 months a year and travelling all over Asia.

But yeah gold has hit me too. I'm down heavily on my RMX stock. Don't think it will move anyway but down unless it starts to go into production. Had put a buy order for IMG at $4.09 but it closed at $4.11. So now I think if IMG hits the $4 the momentum will fall quickly to $3.91. That will be my buy in on Monday.


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## Sherlock (Apr 18, 2010)

Well I lost a lot of money with IMG.  Lost some money with CSI too but thankfully didn't own very much of it.

Also my car is only a 2004 TL. 

And I don't even have a girlfriend. I'm clearly a lesser man than everyone else who has posted in this topic. :grief:


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## Toronto.gal (Jan 8, 2010)

1sImage said:


> 1. I like having the option to take a different vehicle everyday of the week.
> 2.
> 
> 
> ...


*1.* So how many cars do you have, 5 or 7? 
*2.* It's very nice, except I like colour; white is more for spring/summer.
*3.* If you were to use some kind of position sizing strategy [I don't think you do], you would be in better shape today. 

Also, I may book profits at 5%, but I don't average down at a mere 5% drop, at least not for gold.

I do believe you use your profits for your toys, but I invest at least a % back into same stock [if holding a long-term position].

Enjoy the new toy!


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## Jon_Snow (May 20, 2009)

Sherlock said:


> Well I lost a lot of money with IMG.  Lost some money with CSI too but thankfully didn't own very much of it.
> 
> Also my car is only a 2004 TL.
> 
> And I don't even have a girlfriend. I'm clearly a lesser man than everyone else who has posted in this topic. :grief:


I would argue that you are a better man, for no reason other than you refrained from posting images of a driveway crammed with vehicles.


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## GoldStone (Mar 6, 2011)

oh wow! shiny depreciating assets! cars! bikes! gold!

:biggrin:


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## blin10 (Jun 27, 2011)

based on your website, how exactly are you balling with 500k assets and 300k liabilities ?



SpendLessEarnMore said:


> I couldn't fit in the picture my moped, 1997 Corolla and 1993 Sentra. I'm mid-30's and have put in my job resignation already. I'm balling now no worries of waking up having to go to work. I'll be enjoying the tropical weather 12 months a year and travelling all over Asia.
> 
> But yeah gold has hit me too. I'm down heavily on my RMX stock. Don't think it will move anyway but down unless it starts to go into production. Had put a buy order for IMG at $4.09 but it closed at $4.11. So now I think if IMG hits the $4 the momentum will fall quickly to $3.91. That will be my buy in on Monday.


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## SpendLessEarnMore (Aug 7, 2013)

I'm balling because I'm happy with what I have and where I am in my life. I don't have to work and my mortgage payments still gets paid and I still accumulate savings at the end of the month. :chuncky:


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## Toronto.gal (Jan 8, 2010)

Jon_Snow said:


> posting images of a driveway crammed with vehicles.


He's just proud of his 'depreciating assets', so what's wrong with that JS?! 

*Sherlock:* hope things will be better for you in 2014; in all departments!


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## Eder (Feb 16, 2011)

I promise not to post a pic of a shiny car on my driveway...besides my ride won't fit...[URL="[/URL]


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## SpendLessEarnMore (Aug 7, 2013)

wow nice! Where is that?


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## Synergy (Mar 18, 2013)

Eder said:


> I promise not to post a pic of a shiny car on my driveway...besides my ride won't fit...


Nice pic! Reminds me of cottage country up in Georgian Bay - Ontario. Almost looks familiar.


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## Jon_Snow (May 20, 2009)

Judging by the arbutus trees in the foreground, only found in Canada on the B.C. south coast, I'd say that picture is B.C. Gulf Islands, Sunshine Coast, or somewhere on Vancouver Island.

Anybody else want to brag about their material possessions? :stupid:


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## Synergy (Mar 18, 2013)

Jon_Snow said:


> Anybody else want to brag about their material possessions? :stupid:


To each their own, I try not to judge. You only live once, whatever makes you happy ;o)


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## donald (Apr 18, 2011)

That is sick eder.nice!


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## Canadian (Sep 19, 2013)

Jon_Snow said:


> Anybody else want to brag about their material possessions? :stupid:


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## Eder (Feb 16, 2011)

Jon_Snow said:


> Judging by the arbutus trees in the foreground, only found in Canada on the B.C. south coast, I'd say that picture is B.C. Gulf Islands, Sunshine Coast, or somewhere on Vancouver Island.


Ya, you know your stuff (arbutus trees...deciduous but don't shed their leaves!)...it is Smugglers Cove provincial park...just South of Pender Harbour Sunshine Coast...I feel dirty for posting that pic but I have been bursting at the seam to find a reason to bring up the subject of sailboats...


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## Jon_Snow (May 20, 2009)

Eder said:


> Ya, you know your stuff


Been kayaking the coves and inlets of the south coast for 25 years... I know this place intimately, and couldn't possibly list all of the wonders I've seen. 

Enjoy your travels Eder.... maybe we will cross watery paths one day.


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## Toronto.gal (Jan 8, 2010)

Eder said:


> I promise not to post a pic of a shiny car on my driveway...besides my ride won't fit...[URL="[/URL]


Golden view & retirement!


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## al42 (Mar 5, 2011)

Oh Oh !!!
IAMGOLD preserves balance sheet; suspends dividend.
http://www.theglobeandmail.com/globe-investor/news-sources/?date=+20131211&archive=prnews&slug=TO460
I got out of this when I heard an interview with Letwin and he said the dividend didn't make sense if gold was going to remain low
for an extended period of time.
Well see how she reacts today? May get back in if it gets hammered.


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## Toronto.gal (Jan 8, 2010)

Toronto.gal said:


> IMG currently below $4 on the US side; at that price, how low can it go? *Dividend should be cut*.


It was about time the div. was cut, and at over 6% yield, it was definitely out of place, so the announcement should come to investors as no surprise at all, as the warning had come just last month and directly from the company:

"Our priorities continue to be cost reduction, disciplined capital allocation and cash preservation. This will give us the flexibility to take advantage of opportunities that would deliver a robust return on capital," continued Mr. Letwin. "While we remain optimistic about the long-term prospects for gold, we are prudently planning for a lower gold price environment. Accordingly, we are re-evaluating our capital expenditure plans, initiating programs to lower working capital, *reviewing our dividend policy*, reassessing our life-of-mine plans and driving further cost reductions - all to create long-term value for our shareholders."

http://www.iamgold.com/English/News...orts-Solid-Third-Quarter-Results/default.aspx


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## blin10 (Jun 27, 2011)

hopefully 1simage got out of this one in time


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## Toronto.gal (Jan 8, 2010)

He may have, as gold was up 2 days in a row this week hitting a high of $4.33 on Tuesday; and even if he had exited at a minor loss, he would still be up considering his prior profits in same. If not, he'll average down as he said he would.

Oversold at -8% IMHO as the cut was the right thing to do, but that has typically been the average drop for gold shares some days. 

Wonder who will be the targets for M&As. I can't see this space not consolidating, especially if gold spot prices continue to drop.


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## underemployedactor (Oct 22, 2011)

I thought the divvy cut was really good news. I'm surprised to see the SP take it on the chin so hard because of it. Unless there is something else going on that I don't know about?


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## Synergy (Mar 18, 2013)

Wow, IMG is getting punished today. Gold will eventually have it's day. I'm going to start picking away at XGD again soon.


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## Toronto.gal (Jan 8, 2010)

1sImage said:


> I am also down on I am gold right now. Bought in at 4.60 and again at 4.40. 20000/shares Total I will by more if it goes under 4.


You are not down any more, unless you sold at a loss [I doubt you did] . And if you bought more below $4, then ka-ching congrats! 

Nice stock recovery from the Dec./2013 low of $3.33. Ditto for my other mid-caps!

Gold @$1,255 vs $1,199 the day IMG fell to $3.33.


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## PatInTheHat (May 7, 2012)

Toronto.gal said:


> You are not down any more, unless you sold at a loss [I doubt you did] . And if you bought more below $4, then ka-ching congrats!
> 
> Nice stock recovery from the Dec./2013 low of $3.33. Ditto for my other mid-caps!
> 
> Gold @$1,255 vs $1,199 the day IMG fell to $3.33.


Kicking myself for not jumping on this. I had it flagged below $3.5 and just ignored it. Oops.


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## Synergy (Mar 18, 2013)

John Embry - BNN "This is the best buying opportunity for gold that I've ever seen. The price of gold could double this year. Undervalued, negative sentiment and great fundamentals are a perfect combo for a higher price".:biggrin:


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## Toronto.gal (Jan 8, 2010)

Synergy said:


> ..."Undervalued, negative sentiment and great fundamentals are a perfect combo for a higher price".:biggrin:


What was funny about that? Was he saying the opposite recently?

Gold price won't double in a year, but my super undervalued gold stocks just might! :encouragement: 

Nice pull-back today!


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## Synergy (Mar 18, 2013)

Toronto.gal said:


> What was funny about that? Was he saying the opposite recently?
> 
> Gold price won't double in a year, but my super undervalued gold stocks just might! :encouragement:
> 
> Nice pull-back today!


I just got a kick out of the speaker - how confident he was. I recall back in 2012 he was forecasting that gold prices would "quickly" triple. I like the gold miners at these levels so I hope he's right!


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## beans (Jan 25, 2011)

Unreal recovery over the last two weeks! I know the supposed catalyst was the last mine results. speculation that there may be a sale eventuall? either of a mine or of a full blown takeover?

What gives!??


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## Jon_Snow (May 20, 2009)

As an owner of this dog (bought in around $10) I just hope it keeps going - this is BY FAR my biggest mistake in my short investing career. If it some how got into the $6 range, I would likely unload it and call it lesson learned. I have the patience and financial wherewithal to wait this out - I really don't want to lock in a loss at these levels yet.


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## Toronto.gal (Jan 8, 2010)

Jon_Snow said:


> 1. As an owner of this dog *(bought in around $10)*
> 2....this is *BY FAR my biggest mistake* in my short investing career.


*1.* To your credit, you should have added that it was trading at $16+ about a month before you purchased it.

*2.* To be fair, your record/timing was still impressive, as after all, the stock did go up right after you bought it: *"Bought 1000 shares at the open.... already up 1.5%! Time to head to the beach!"* That $150 could have bought muchos mezcales. 

Seriously, if you consider your time of purchase of Q4-2012, can you name many stocks in the sector that have been golden since? IMG is down around -60% since then, but so are many others anywhere from -30% to -60% considering the gold crush began April/2013, or 5 months following your purchase.


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## Jon_Snow (May 20, 2009)

Thanks for the pep talk T-Gal.

I had forgotten that I had bought this while vacationing at our place in the Baja - and I very well could have been several Pacificos or margaritas into the day when I hit the buy button. That's my excuse anyway. :biggrin:


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