Chris Mancini on Business News Network - December 20, 2013

 

Commodities: Gold Company Naughty or Nice List

December 20, 2013 - 7:01 minutes

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Business News Network, Canada

 


Chris Mancini - Gabelli Gold Fund - Portfolio Research Analyst.

The above webcast is an excerpt from a Business News Network broadcast that aired on December 20, 2013. The webcast is made available by Business News Network and is provided on GAMCO's website for your convenience only.

GAMCO is providing these links as a matter of general information. We do not intend for these links to be a complete description of any security or company and it is not an offer or solicitation to buy or sell any security, nor is it a research report with respect to any of the companies mentioned herein.

As of September 30, 2013, affiliates of GAMCO Investors, Inc. owned 1.10% of Randgold Resources Ltd. and less than 1% of Eldorado Gold Corp., Silver Wheaton Corp., Barrick Gold Corp. and Kinross Gold Corp. The Gabelli Gold Fund owned 1,173,333 shares of Eldorado Gold Corp. (representing 3.81% of the fund), 388,400 shares of Randgold Resources Ltd. (13.35% of the fund), 50,000 shares of Silver Wheaton Corp. (less than 1% of the fund), 497,361 shares of Barrick Gold Corp. (4.43% of the fund) and 250,000 shares of Kinross Gold Corp. (less than 1% of the fund). These securities are not necessarily reflective of the entire portfolio.

Investments related to gold and other precious metals and minerals are considered speculative. The Fund may be subject to significant volatility and investors may experience substantial loss of value in a short period. Investing in foreign securities involves risks not ordinarily associated with investment in domestic issues. Fund's concentrating in specific sectors may experience greater fluctuations in value than funds that are more diversified.

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