Preview app on Mac os x 10.8.1 will not save images as GIFs

I have a macbook that used to run on OS X 10.6.8. When I had this version, the Preview program allowed me to save images in a variety of extensions, including GIF. It also allowed me to control the file size of the images saved. On the save page it had a slider that I could move around that would tell me the final file size of the image saved.

In December 2014 I "upgraded" to OS X 10.8.1 on the same macbook, and now the Preview app *****. It only lets me save images using JPG, PNG or PDF. The amount of file extensions I could save an image as is very limited now. Additionally there is no "Save As" option anymore. Now I have to "Duplicate" an image if I want to modify it without changing the original. This didn't happen with the version of Preview I had when I used 10.6.8.

Is there any way I can use Preview to create GIF files and better control the quality and file size of the images I am saving