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The Corporation and its subsidiaries explore for, mine and produce gold, with a primary focus on Venezuela.
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TMFSinchiruna (< 20) Submitted: 4/17/08 3:14 PM : Start Price: $2.43 KRY Score: -47.55
My timing was unfortunate, as KRY has taken me down a ways since picking it up this month. Still, I see massive unlocked value in these shares, and consider it wildly undervalued. In real life, I'm picking up a little more at these levels (1.92 on 4/17). Check out their presentation on their website... you'll agree. :) This stock was one of Cramer's darlings a year or so ago, but since then has been forgotten and fallen off many peoples' radar screens. Though I don't often agree with Cramer, everything he liked about the company back then is still in tact today.
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blackmonday2007 (52.59) Submitted: 5/17/08 1:54 AM
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Venezuela said no way Jose no shinny gold for you (est 17 million OZ) they like the rain forest better; The bridge is out on the yellow brick road to Venezuela. Less gold for everyone will raise prices
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TMFSinchiruna (< 20) Submitted: 5/19/08 7:11 PM
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Yep... that's a shame for us KRY shareholders. I am holding shares at this point because there is not much more to lose (it was a small stake anyway, since I do apportion my allocations according to geopolitical risk). Let this case serve as a reminder to all that there is safety in numbers when it comes to mining stocks. Decide your target allocation for miners as a whole, and then I advise dividing up that allocation among as many individual companies as you have the time to conduct due dilligence on. Try to balance between major producers like Freeport McMoRan or Newmont Mining, intermediates like Kinross and Agnico-Eagle, and juniors like Osisko Exploration or Gammon Gold. The more diverse your basket, the more insulated you are from unpredictable events like this. Do pay attention to geography to reduce risk, but remember that there's safety in numbers.Adding shares of GDX, the mining ETF can help to reduce that particular type of volatility as well. This will not prevent volatility caused by fluctuations in spot price or other news that affects the industry as a whole, but it can reduce the potential impact of a KRY-type event. Fool on!
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