Nemo,
re: "You didn't???????????"
Sure did. Twice. Hopefully, I won't regret it.
I'm going to ignore the fact that I screwed myself (or was tricked) out of the 45 percent gain in NXG. That's water under the bridge. I didn't shoot myself over it yesterday; I'm not going to do so now.
What we've now got is TWO companies that I know well and liked enough to own independently. I'd dumped Northgate simply because I hated its deal with Perino Gold, a deal that's now been junked. AWESOME! Smart move! I'd have considered paying $3.50/share for Northgate if that was the whole story.
The combined Northgate / AuRico (formerly Gammon) is going to be a strong gold junior that will attract a lot more investment interest than either company could individually. AuRico nearly doubles its production, increasing output to 470,000 ounces ($846 million annually, at $1,800 oz), with reason to think that they'll rapidly increase that. The combined companies will have a market cap of about $3 billion.
And I'm very bullish long-term on the price of gold.
AuRico was $14/share just a few weeks ago. I think the combined company should see $18 within a year.
I'll post more on this later.
In the near future, I hope to buy land - which I'll pay for by selling stock. I like most of my holdings- so that will be tough. But AUQ/NXG is probably the last one I'd want to unload.
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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