I agree with you, but finding the bottom could be a fair while coming. It may come in the second half of 2013, which is a long time for many small investors.
The way I see it is if it takes that long to bottom and start to take off again then there will be a fair amount of pain yet to come in goldieland,
The only thing holding up the POG is speculation that Bernanke will do extra QE next year and cause some worldwide inflation, and probably that China will do another major economic stimulus package soonish.
In the meantime it is a fine balance between AMX burning up its cash and growing its resource/proving up a reserve. If AMX disappoint with the their resource/reserve upgrade/estimate, there will be no mercy in this market. I really think the safest thing they could do is simply mothball everything for better times. Investing in explorers has become a bit like playing financial Russian roulette.
loki
AMX Price at posting:
33.5¢ Sentiment: None Disclosure: Not Held
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