Buying more DROOY [DROOD]

I noticed that there was $1600 of cash in my IRA account, exactly enough money to buy another 2000 shares of DRDGOLD Ltd. (NASDAQ: DROOY). Done. (Hopefully this is too tiny of an investment to jinx the company. I've had really bad investing luck the past year.)

DROOY is one of those companies you really want to call by its pronouncable ticker symbol and not by its corporate name. And the new name sucks, I liked the name a lot better when it was Durban Roodeport Deep.

Comments

[captainccs]

DROOY' is no longer valid. It has changed to DROOD.

DROOD has failed to meet NASDAQ Capital Market continued listing requirement(s).

:-(

[big]

BOOYAH!

[Zachary]

I have thought about speculating in DROOD also.

[Brian]

AVNX has broke even! Thats the telecom company I was talking about. Telecoms should be doing better soon. I bought FBR, since mortgage companies are down... this one I believe is safe, divested the risky subprime loans and a balance sheet that looks good enough to survive.

[investing]

its expensive

[Mike]

Good for you! I'm guessing that you realized that you time that perfectly.

[silver]

DROOY is not valid anymore... it's a shame

they sell silver at http://www.thesilvermountain.nl/

[Thomas Staub]

Now is the time to make money with silver. DROOY might come some day but the action is in silver. If the RMA25 will signal the next buying opportunity it will maybe be the last time.

Cheers

Thomas

[Veronica]

How did you plan out the timing of purchasing it?

[Keahi Pelayo]

Thanks for the clarification.
Aloha,
Keahi

[Richard]

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[Jeffrey Nichols]

Monetary Reflation Today, Price Inflation Tomorrow

(Excerpted from speech to China Gold Summit, December 4, 2008, Shanghai -- by Jeffrey Nichols, managing director of American Precious Metals Advisors and NicholsOnGold.com)

I remain bullish on gold because — even as the global economic recession deepens — governments will find the only way out of this mess is to print more money. In other words, to inflate.

The United States Treasury and the Federal Reserve have already thrown a few trillion dollars, more or less, into the banking system and are now also lending directly to businesses and households. And, there’s surely much more to come when the next Administration moves into Washington.

It’s not only the U.S. monetary authorities pumping up the money supply. Their counterparts in every major economy – including the United Kingdom and the Euro zone, China, Russia, Japan and on and on – are doing likewise.

We have never in the history of money seen such an expansion in its supply without, after a period of time, a rapid deterioration in its value – in other words, without a rapid increase in the overall price level. More than any other factor influencing the gold market, it is the inevitable devaluation of money and the corresponding rise in price inflation that will propel gold skyward in the next few years.

As sure as day follows night, reflationary monetary policies — however necessary — have long-term implications for global inflation. Typically, monetary creation affects price inflation with a lag of six months to a couple of years – and in the current environment, the lag could be still longer . . . so it may be some time before inflation is recognized as a serious problem. But gold prices have shorter lags and could begin moving up before rising inflation becomes apparent or worrisome.

Longer term, gold-price prospects remain as bright as ever — and I firmly believe we will see record high prices in the next few years with gold back over $1000 an ounce in the coming year.

With the right confluence of economic and geopolitical developments we should see gold break through $1500, then $2000, and possibly still higher round numbers in the next few years – particularly if we get the type of buying frenzy or mania that often occurs late in the price cycles of financial and commodity markets.

This is hardly an audacious forecast when looked at relative to the upward march in consumer prices over the past 28 years. After all, the previous high of $875 an ounce in January 1980, when adjusted for inflation since then, is today equivalent to more than $2200.

Let me end with a warning about the days and weeks ahead. In the short term, gold remains volatile and vulnerable, if only because market psychology is nervous, anxious, and fearful. In this environment, we could still get a quick sell-off that would bring us back to the recent lows. But, day by day, I think that becomes less likely and, day by day, I think the base is building for a lasting longer-term recovery.