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IS IT A GOOD TIME TO BUY HARMONY?

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Occasional Contributor
Why are Harmony shares down by almost half it was this time last year? Is it a good time to buy? Will they pick up?
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9 REPLIES 9
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Super Contributor
No, don't buy gold shares, think about, rising electricity costs from Eskom, higher wages from union demands, deeper mines to get to gold, falling gold production, ten or twenty years ago SA produced 500 tonnes of gold, now only 200 tonnes. You can maybe trade gold shares if you know what you are doing, but investing - no way
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Valued Contributor
you only buy a gold stock when closing a short ..
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Occasional Contributor
I hear you. But is the reason Harmony has dropped to such a low because the mine has been closed since 2 January? The unions have reached agreement with the mine so when they restart production, surely the share will go up again?
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Valued Contributor
maybe, but the trend on HAR over ay time frame you like is down .. why buck that trend ?? will one mine opening really change that trend for period of time ??
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Not applicable
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Super Contributor
Based on that - one must assume that there would never be a need to close a short on HARMONY! Remember our chat re HARMONY when I maintained that GOLDFIELDS was the only SA gold miner worth having... Unless something drastic happens - HARMONY is headed toward extinction. Her balance sheet cannot carry this mess - so it is up to her poor, benighted shareholders to fund her. Run!
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Contributor
I bought on friday afternoon - seems to have already paid off
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Super Contributor
Watch out for a dead cat bounce.
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New Contributor
Like some one said ......... Trade it, don't invest in it thats the key difference here. Cheers to those that bought on Friday ........ Well, for now.
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