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Can PZG go any lower?

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HBM
New Contributor
small gold miner PZG has been 'klaapped' so bad lately, could there still be a down turn or is 50c its bottom. It seems to be holding onto this price for the past 2 weeks.
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13 REPLIES 13
SimonPB
Valued Contributor
can it go lower, well sure .. another 49c lower to be exact ..
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Not applicable
Goodness... Are they still in business?
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john_1
Super Contributor
49c to go before they out of the game
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HBM
New Contributor
PZG has just gone up 20% since opening of trade. I wonder what Simon has to say.
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asylum
Super Contributor
come on man up on what theres no volume there 58k traded for the whole day, people get suckered into these cheapies you may buy now and then next week it goes down 40% never to recover and your stuck, rather play with the big boys on the block.
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Not applicable
Great opportunity for you to exit on a high note. (Try not to think of the 95% loss you've suffered over the past year.) They were on the brink of bankruptcy earlier this year before getting their loan, and IMO they'll be there again, but this time the credit will be harder to come by.
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barry_1
Super Contributor
bad history,but Harmony now owns 30% of their stock,must count for something!
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Not applicable
Who knows what Harmony plans to do with their stock, but is it necessarily a good thing for minority shareholders? I'm not a veteran gold industry watcher, so I may be completely off-beat here, but my concerns re. PZG are as follows:
- They are trying to mine clapped-out old mines that the bigger boys could not mine profitably;
- They appear to have more fatalities than some of the bigger players (just an impression; haven't compiled accurate stats);
- One has to doubt the competence of management when they buy an old mine and then find they don't have enough money to get it operational.
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barry_1
Super Contributor
likely both the gold and platinum price will take a breather perhaps by monday,if u look at their metal price u will see they have almost spiked vertically,can be a minor fall before advancing again. OMO.
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Not applicable
I had PZG couple months back, bought at R1.55 sold at R2, not a bad profit for a couple days!! Once they recieve cash from the loan this could be a decent pick for few months to come. Maybe go up a to R3-R4,,,,but for now....no volume, very hard to get out...I'd wait for a turn. It can really drop more still. Harmony has already said they are concidering selling there stake in March! Be careful....
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Not applicable
That was a good call Barry. I held on to my Newgold and it lost a lot of value with the late rally on the Dow last night (Dow up -> weaker $ and weaker gold). This morning, however, it looks like the Rand is weakening again, so I'll hang on to see how that pans out and look for a good exit later today. Gold has made new highs against most currencies, so a bit of consolidation should be expected.
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HBM
New Contributor
Should the question now be, "Can PZG go any higher?"
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barry_1
Super Contributor
i hold,with a stop-loss @ 20% in place,certainly hope so as welll as PAN....think gold will go over $1000 per oz before any pauses happen again.
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