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RE: Get Mad…..or just Get Australian Gold Mining Shares
Gold mining shares have been a disaster mate, I bought thousands of dollars worth of Lihir shares about 12 years ago. Since that purchase they have pulled out millions of ounces of gold and have paid virtually nothing in dividends. Then they were taken over by Newcrest who's share price crashed and hasn't gotten back to that price to this day. Newcrest has produced millions of ounces of gold and still F#!K ALL dividends, the whole industry is a sinkhole for you cash. Stick with physical and not a hole in the ground run by lying thieves, cheers bro.
That's a fair criticism. Lihir and Newcrest have had some issues over the years and there ARE a lot of unscrupulous boards in the industry - particularly in the smaller caps. That's why I prefer the bigger producers.
I do like to hold physical too, but there comes a point where storage is an issue as well as liquidity. What I like about shares is that you don't have to find storage and they are generally very liquid, but you do need to be careful of the unscrupulous operators.