Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Interesting trading day. A ton of volume in the $1.45 area and then a little volume takes the stock down to $1.35. Very odd to say the least. No doubt in my mind better times are coming.
Joe
commodity super cycle boom
We are commodity hogs in the USA...consuming far more per capita than the rest of the world....oil, grains, metals, lumber, etc.
Consider this...there are 300 million Americans today. Total World population is 6.6 billion today....What will happen to prices of "hard" assets once the rest of the world begins to consume like Americans do? (already in progress)
It's no wonder that miners are in a mad rush to increase reserves and stake more property...
One more point. Americans do not respect the precious metals culturally like people in other countries. (India, China, for example) As per-capita wealth increases globally, the demand for gold should rise exponentially.
Not many companies have a working mill as part of their assets. We could always churn other peoples rock if we wanted but my guess is our mines will keep us busy for quite a while. Once we start releasing new reserve numbers we may also be looking at an AMEX listing. Seems like it all will be coming together over the next several months.
Joe
Re: Paramount Gold (PZG)
These guys just moved to the Amex last week.
$140 million market cap... closed at $3.00 a share.
Dutch has better assets and a much better story...plus we are producing!
I feel good!
Tom
Wild and Wacky Week.
Hard to believe we started the week around $1.30, hit $1.01 and finished at $1.38? I guess even with gold up to $674 the major market meltdown hit everyone. A lot of the gold companies I follow had rough weeks so we should probably be glad we ended up. I think as we hear more of the progress the company is making the shareholder base will become much more solid. Of course that means less opportunities to be buying shares at the steep discounts we saw earlier in the week.
Joe
Good news in todays release. Building reserves is the quickest way to build shareholder value. Of course the fact that we are in production sets us apart from 95% of gold mining companies in the world today.
Joe
Yea watching this stock wears one out. LOL Well it actually traded a few shares today. You would think any buy under $1.40 would be a steal. JMHO
News for 'DGRI' - (Dutch Gold Expands Core Drilling Program Company to Double Rate of Drilling by Deploying Hagby Core Drill Following Encouraging Core Samplings)
ATLANTA, GA, Aug 02, 2007 (MARKET WIRE via COMTEX) -- Dutch Gold Resources,
Inc. (PINKSHEETS: DGRI), a developer and operator of proven gold mines and a
regional mill in North America, today announced that it has been expanding the
core drilling program begun in May 2007 and expects to take delivery on a new
Hagby Core Drill during the month of August 2007.
Dan Hollis, Chief Executive Officer of Dutch Gold Resources, stated, "We are
pleased with the progress of our 2007 drilling program, as the results to date
have been very encouraging. The new Hagby will allow us to significantly bolster
productivity, doubling the rate at which we drill and increasing our data
gathering efforts, while providing greater equipment reliability. We began the
2007 drilling program to further map out the resources in the Benton Mine, as
less than 15% of the mine has been explored and mapped to date. Not only will
the drill facilitate and expedite the process of tapping these new potential
reserves, but will create further drilling redundancy allowing us to deploy the
older drill now in use, as we reopen the Gold Bug Mine in 2008."
Mr. Hollis continued, "With the addition of the Hagby drill, we have many of the
pieces in place to cost-effectively run our operations and increase production
that commenced earlier this year with our first shipments of gold in March.
Since the beginning of 2007, we upgraded our infrastructure at the Benton Mine,
which has proven and probable reserves in excess of 235,000 ounces, we installed
the Knelson Concentrator to handle recently discovered free gold on our property
and we installed a new Gemini Table to further clean the concentrate from the
Knelson Concentrator. Moreover, our properties are within driving distance of
our newly upgraded mill whose capacity has been increased substantially.
Overall, we remain focused on the systematic execution of our business plan with
a keen focus on enhancing the quality and quantity of our reserve base while
accelerating gold production."
The ONRAM 1000/3 Core Drill has become the driller's choice for power and
reliability. The ONRAM 1000/3 has core drilling capabilities to 1100m AQ and
more commonly 600m NQ and 300m HQ. It has been customized for Dutch Gold
Resources' particular needs.
About Dutch Gold Resources, Inc.
In January 2007, Dutch Gold Resources, Inc. acquired Dutch Mining LLC, which was
founded in 1994. Dutch Gold is engaged in the mining and processing of proven
gold reserves in North America. The company's strategy is to focus on overlooked
resources which can be quickly and cost-efficiently brought into production. The
Company currently owns two mines in southwestern Oregon, consisting of the
Benton and Gold Bug Mines. Production resumed in March 2007 and the Company has
begun a drilling program to prove up additional reserves, and enhance future
production. Please visit the Company's website for additional information at:
www.dutchgoldresources.com.
we all need a chance to catch our breath, relax, and play a little golf.
It is the dog days of summer. A calm before the perfect storm....
Wild trading day today. Someone wanted out this morning and others stepped in to pick up the shares. Seems like a lot of people were able to take advantage of the drop. Unfortunately with the low float moves in either direction could be severe.
Joe
The mill and mine have been around for a number of years. They are finally getting it into production as can be evidenced by the PRs. I have had friends visit both and they tell me the mill is turning and the trucks are bringing rock to the mill. Not sure what else you are looking for?
Joe
i was actually looking for independent information, not coming from the company itself
A Justification for $5,000 Gold
How high is gold heading in this gold bull market? My friend and Boston based money manager Antony Herrey forwarded a chart of the inflation adjusted gold price using not the government's own CPI statistics, but rather the much more accurate inflation numbers compiled by economist John Williams. John's work demonstrates that the real CPI in the U.S. if it were recorded in the same manner as it was recoded before the Clinton Administration, would be over 10%, not the 2.7% the government tells us it is. By the way, you can read our interview with economist John Williams in the July 2007 issue of J Taylor's Gold & Technology Stocks newsletter, which is scheduled to go to press on July 16.
Given actual rather than the governments inflation figure, how high does the price of gold need to rise for it to equal 1979-80 highs? According to the chart sent to me by Mr. Herrey, gold would need to rise to $5,000 to equate the purchasing power of gold that hit a high of $850 in January of 1980.
I have not personally run these numbers for my own subscribers yet, but I plan to do so in the near future. However, I do have a chart using the governments grossly understated inflation numbers. Even when using "official" numbers from our Labor Department, gold would need to rise to $1,459.63 for its purchasing power to equate to the average monthly gold price at its peak in 1979.
John Hathaway Extremely Bullish on Gold
This past Wednesday, I attended a going away party for Ian MacDonald a well-known and highly regarded gold bullion trader. Also attending was John Hathaway, the manager of the Tocqueville Gold Fund. John has gone on record saying for several years now that before this bull market in gold is over, the yellow metal will be quoted in four digits rather than three. We are not far away from $1,000 but judging by John's comments this past week, I have to think he may ultimately be looking for a gold price well above $1,459.63. Perhaps like $5,000 an ounce? We don't want to put words in John's mouth, but he has agreed to an interview in the near future at which time we will ask him.
Mr. Hathaway noted there is complete complacency in the market for gold investments. He stated that even when his fund was posting 40+% gains, the Tocqueville fund was not drawing in net new investments. More recently when his fund has been gaining in the 8% to 9% range, the Tocqueville Gold Fund has been experiencing net redemptions. John sees this tepid desire for gold as being extremely bullish. In fact, in observing Mr. Hathaway for several years, I have never seen him more bullish than he is now exactly because Wall Street is disinterested at a time when the fundamentals have seldom been more bullish for gold and more bearish for the dollar.
J Taylor's Gold & Technology Stocks is published monthly as a copyright publication of Taylor Hard Money Advisors, Inc. (THMA), Box 770871, Woodside, N.Y. Tel.: (718) 457-1426.
New Fact Sheet on Website.
http://admin.ir-site.com/images/library/dutch_gold/DGRI_Fact_Sheet_July_2007.pdf
Highest Monthly Average Price of Gold....
I just read in Dow Theory Letters that April of 2007 had the highest EVER monthly average price of gold...$679.87.
Other leading months were...
May of 2007
May of 2006
January of 1980
September of 1980
I liken the price of gold to a slumbering bear that has just woken up from its multi-decade nap! Richard Russell (Dow Theory) said that 2007 will most likely have the highest average annual price of gold...EVER. Lookin good Dutch fans!
I read the press releases for the last 4 months. Start with this one from April.
http://biz.yahoo.com/iw/070418/0240424.html
Talks about almost 1000 oz in March.
Then see this one in May on Free Gold.
http://biz.yahoo.com/iw/070524/0257374.html
Followed by this one in June. I am just guessing if they were running almost 1000 oz/month in March and made all these improvements they should be running at least 1000 oz/month at the moment.
http://biz.yahoo.com/iw/070524/0257374.html
Don't forget to sign up on their website for e-mail of news.
Joe
how do you know this?
tia
In March they were doing about 1000 oz/month. They then hit the free gold and had to retool a bit so that they were not throwing gold away. It looks like by June they were cranking away and hopefully getting much better results. Hard to say what they are producing on a monthly basis but I would guess its better than what they were doing in March. For any estimates I would use the March rates and anything higher is just gravy.
Joe
I hope they say little till they get moving on staking more claims in the area.
If the area is as prolific as we believe, let's get as much under our control before we let others in on our find.
SM
I'm glad to see that they are actively pursuing other properties. Once people figure out how much gold may be in this area there could literally be another Gold Rush. In the next several months we are going to start hearing more about their quarterly results and hopefully their reserve drilling numbers. I suspect that will have a very positive impact on the share price.
Joe
Gold hits new 10-week high on record-low dollar
Fri Jul 20, 2007 8:27 PM BST
NEW YORK/LONDON (Reuters) - Gold rallied to a 10-week high on Friday, capping a week with solid gains, fueled by renewed fund buying, a weakening dollar and as investors sharply increased holdings of bullion held by gold exchange-traded funds (ETF).
Analysts said that gold was poised to retest the psychological $700 level in the near term because of a combination of bullish factors including firm energy prices and improving jewelry demand.
Other precious metals also advanced, with platinum hitting a two-month high, silver rising to its highest level in six weeks and palladium increasing to a two-week high.
Gold rose as high as $686.00 an ounce, the highest since May 9, and was quoted at $682.50/683.30 by 3:09 p.m. EDT (1909 GMT), compared with $677.30/678.10 late in New York on Thursday.
Zachary Oxman, senior trader at Wisdom Financial in Newport Beach, California, said that gold's fundamentals were improving, citing renewed inflows by funds and a strengthening Indian rupee, which boosts jewelry demand from the top gold consumer, India.
"In the intermediate term, it looks like the market is a little overbought, but today's rally pushes through that argument and put it more to a long-term trend towards $700," Oxman said.
Gold has attempted several times to break above the $700 level, and retest the 26-year peak at $730 set in May 2006, but so far has failed this year.
The dollar extended losses across the board as both U.S. Treasury yields and equity markets fell on ongoing worries in the U.S. subprime mortgage sector.
Further weakness in the dollar might lift gold to new highs, but a recovery in the currency might prompt profit-taking and push the metal down toward $640 an ounce, dealers said.
"I am cautious as recent gains have been made purely on a dollar weakness. The price movement is not artificial, but too much dependence on one factor is not healthy," said Matthew Turner, precious metals analyst at Virtual Metals.
"Gold will be driven by the dollar, but if the currency doesn't move, then it might come back on profit taking."
Nice to see them add a tried and true industry veteran to their team.
Stock remains in a constructive trading range that I eventually expect it to migrate out of and upwards from to new highs.
SM
Dutch Gold Appoints Geologist James L. Browne to Board of Directors and Consultant to the Company
Friday July 20, 6:51 pm ET
ATLANTA, GA--(MARKET WIRE)--Jul 20, 2007 -- Dutch Gold Resources, Inc. (Other OTC:DGRI.PK - News) (the "Company"), a developer and operator of proven gold mines and a regional mill in North America, today announced the appointment of James L. Browne to the Board of Directors and consultant to the company.
Mr. Browne is a prominent geologist with extensive expertise in evaluating properties, particularly in the regions of Idaho and Oregon. He began his career in 1956 after obtaining a Master of Science degree in geology from Michigan Technological University. Since 1992, Mr. Browne has been a consulting geologist conducting property evaluations, open pit geology and ore reserve definition at the Company's Benton Mine. Previously, Mr. Browne held positions at Helca Mining where he supervised a crew of geologists and participated in discoveries leading to substantial benefit to Helca. He also held the position of Chief Exploration Engineer for Day Mines, Inc. in Idaho where he was responsible for the company's exploration Board of Geology for ten years and property evaluation efforts. Day Mines merged into Helca Mining Co. in 1981. Earlier in his career, Mr. Browne held the position of Northwest Geologist for Copper Range Mining Company and American Zinc Company. He is a registered geologist in both Idaho, having served on the Idaho and Oregon and a member of SME (Society for Mining, Metallurgy and Exploration). He was a member of the Idaho Board of Registration for Professional Geologists for ten years.
Dan Hollis, Chief Executive Officer of Dutch Gold Resources, stated, "Jim's strong credentials, expertise and familiarity with the region make him a valuable addition to the company as we pursue our strategy of acquiring gold-producing properties in close proximity to our existing mines in southwest Oregon. Our Benton Mine production continues to make progress, and Mr. Browne's consultations have been very beneficial. Jim has already added value to the Company and we are pleased to expand his role."
Mr. Hollis continued, "We plan to open the Gold Bug Mine, which is adjacent to the Benton Mine, and his expertise will be very helpful. Jim's role as consultant to Dutch Gold will be very important in enabling us to identify and evaluate additional properties for our portfolio. The management team felt that it was very important to add a seasoned mining professional to our corporate decision making process. We are very enthusiastic that a man of Mr. Browne's integrity and experience would join us at this stage of the Company's development"
About Dutch Gold Resources, Inc.
In January 2007, Dutch Gold Resources, Inc. acquired Dutch Mining LLC, which was founded in 1994. Dutch Gold is engaged in the mining and processing of proven gold reserves in North America. The company's strategy is to focus on overlooked resources which can be quickly and cost-efficiently brought into production. The Company currently owns two mines in southwestern Oregon, consisting of the Benton and Gold Bug Mines. Production resumed in March 2007 and the Company has begun a drilling program to prove up additional reserves, and enhance future production. Please visit the Company's website for additional information at: www.dutchgoldresources.com.
Bullish on Metals
Thursday, July 19, 2007
by Tim Evans of Lind-Waldock
I am bullish the metals complex for a number of reasons, one of which is the pressure the economy is under due to the troubles in the subprime lending sector. We saw that concern trigger a decline in the stock market, a retreat in the dollar, and gains in gold and silver on Wednesday, July 18, 2007. Federal Reserve Chairman Ben Bernanke has tried to play this concern down, but I think it will continue to show itself moving forward, and metals with react by moving higher.
The condition of the economy of course has an impact on metals, and as a trader, some of the reports I feel you should watch include the trade deficit, producer price index, the consumer price index, the Institute of Supply Management’s manufacturing and non-manufacturing indexes, retail sales, and housing starts.
I feel not only does the economic picture look more negative than it appears at the surface, and should lending support to metals, but on the technical side I also see confirmation of a bullish trend in gold and silver. Front-month COMEX gold and silver futures are trading above their 50-day moving averages. The August gold contract rose $7.80 to $673.70 an ounce Wednesday to a six-week high as the euro regained strength against the dollar and the Fed trimmed its economic growth forecast. Gold became a safe-haven play, and should remain so as long as the economic situation remains uncertain. COMEX September silver futures closed up Wednesday up 27.2 cents at $13.29 an ounce.
When you see good volume above these key technical areas, gains can magnify as traders will come in to support and advance their positions. I expect this will continue, and I am recommending playing the long side in both gold and silver.
Watch the economic data, and the dollar’s reaction when you trade metals, as moves in the dollar have been largely opposite to gold and silver. The price of gold has risen about 5.6 percent this year, while the euro has climbed 4.6 percent against the dollar. On Wednesday the euro reached $1.3833 against the dollar, the highest since its launch in 1999.
I think while gold certainly isn’t going to go straight up and will offer short-term trading opportunities in both directions, over the long-term, it’s a buy. Investors trust gold, they like it, they believe in it, and see value in it.
You can sign up for E-mail alerts on the Dutch Website.
http://www.ir-site.com/dutch_gold/email_alerts.html
Joe
Metals - Gold rallies on Bernanke's US sub-prime concerns for US economy
07.18.07, 1:16 PM ET
LONDON (Thomson Financial) - Gold rallied after the dollar weakened when Fed Chairman Ben Bernanke highlighted the dangers of the sub-prime fallout to the US economy in his semi-annual testimony to Congress.
Gold tends to move counter to the dollar, as it is seen as an alternative asset to the world's most common currency reserve.
'The dollar is weaker and that is the main driver for gold right now,' said Calyon analyst, Michael Widmer. 'Now it's slipped below 1.38 versus the euro, everything seems to be pointing to the problems in the housing market and the potential for lower (US) interest rates weakening the dollar further.'
At 4.45 pm, spot gold was trading at 672.90 usd an ounce, compared with 665.00 usd in late New York trade yesterday.
Some analysts believe gold is asserting its position as a wealth guarantor in times of market volatility, following Bear Stearn's announcement that two of their stressed hedge funds are now essentially worthless after investing heavily in the US sub-prime market.
'Gold hasn't just risen because of the dollar, it's risen against sterling as well,' said BullionVault.com analyst Adrian Ash. 'A lot of people are concerned about Bear Stearns (nyse: BSC - news - people ), and the level of fear you're seeing in the market is bringing people back to gold.'
Gold is further supported by oil prices trading close to all time record highs. Prices have received a further boost from falling US inventories today.
Bullion often rises in line with oil as it is used as an inflationary hedge against higher fuel costs.
The lack of buying by jewellers, turned off by high prices in the historically quiet summer period, has limited some of gold's gains.
More cheap shares...
Hope people are taking advntage of this pullback. Once we become compliant, I am sure we will be trading at a much higher level.
quick comparisons...
TBLC just made it to the Amex, yet their properties are not nearly as far along, and their stock trades over $4.
AZ.TO has a market cap of $46 million, yet they have no mine or mill, and their properties are not far along at all.
I think Dutch remains very cheap at these levels!
After watching and buying this stock for the last 6 months it seems like if you wait patiently some shares will come down to you. Probably someone with shares to sell is willing to sell as low as in the $1.40's. I feel anything around $1.5 is an excellent buy point with little downside risk. As we get financials, drilling results etc... we should really start moving upward. In the mean time $1.5 is a nice spot for me to add.
Joe
Well it was $1.45 at one time today lol
Why $1.50?
Hope some of you were able to add during this morning's weakness...
Thats why the Free Gold announcement is also key. The grading on that could be significantly higher than 2 oz/ton. The story is just getting going here. I have added any time we hit $1.50. Not sure how many more opportunities at that price we will get?
Joe
price of gold......
I heard on the radio tonite Al Quada might be planning another attack.
This is quite concerning, but if god forbid it happens, investors always flee to gold.
Gold is the best way to protect your family in uncertain times...
Do the right thing...have some gold in your portfolio. even 5% to 10% would do the job.
Experts say that gold is "insurance" you never want to collect on, but it guarantees that you and your family will not suffer in the event hard times come around.
wow if we were current on financials with some favorable drill results there could be a melt-up in the share price.
I spoke with a top mining consultant tonight...he said 1 ounce of gold per ton of ore was pretty uncommon. 2 ounces per ton was phenomenal. By the way, a ton of ore would fit in the back of a pickup truck to put things in perspective.
There's a lot of value in that mountain we are drilling and digging. Pretty exciting stuff.
I think we will make our move once the financials have been filed. Even though the company projected to be done by the end of May but it does not surprise me that they are a bit behind their schedule. These things usually take longer than projected. Hopefully, they will file it by the end of summer (August). It will be great to become a fully reporting company by the Labor Day weekend.
Seems like he really loves the story. He has a great track record of finding the undiscovered Gems and also has a huge following. A lot of people over the last few years have made a ton of money by being early to these types of plays. I have personally seen a few dozen of these small mining stocks become 5-10 baggers in a short time frame.
Joe
They sure are getting a lot of coverage for a pink sheet stock. Now I see the reason for the high volume yesterday morning.
Trader Tracks Trading Alert 7-10-07 930am
We recommend the following trades this morning:
1. Buy Miranda (CA:MAD) at the market. Last price was C$1.44 per share.
No risk stop for now.
2. Buy Caterpillar (CAT) ON A BUY STOP AT $80.90. Today's pre-open price
was $79.83. It has very strong resistance at $80. No risk stop for now.
3. Buy Silver Standard (SSRI) at the market. Last price was $36.85.
No risk stop for now.
4. Buy Midstream Partners (DPM) a pipeline company with good dividends.
We were stopped out with great profits. Last price is $46.63. Buy it at the
market with a stop at $44.25. This is our 2nd or 3rd profitable trade through
this stock which is a dandy.
5. Buy Dutch Gold (DRGI) at the market which appears ready to break-out.
Last price was $1.55 per share. No stops for now.
Gold is stronger than silver and we are waiting for the correct entry price on a September silver futures trade
expected to be $13.28 with an exit at $13.95. Goal here is 67 cents or $3,350 per contract. PM shares are
indicating breakouts on the HUI, XAU and GDM indexes. Energy is all bullish. Grains will rally on more
information to come in a few days. Inflation has now taken the lead and deflation is abating. -Traderrog
Roger Wiegand
Editor Trader Tracks Newsletter
& The Rog Blog at webeatthestreet.com
Scorry,
I actually talked to the company about it and the problem with that page is they pull in the data from an outside service. Until they get the financials released and the service corrects the number it will be incorrect. The number is around 40M as was mentioned previously.
Joe
I believe there are about 40M shares outstanding but the management owns about 30M.
The stock has been trading well and the volume looks great this morning. Once they are compliant with the SEC, this stock likely will be trading above $2 level. At gold price in the $640-$670 range, this company should be making a nice profit. Also, as they actively drill their properties, I certainly hope they can increase the reserve numbers. This stock should do well over time as long as gold price does not fall significantly. Matter of fact, I am bullish on gold as I expect weak dollar and high oil prices to continue.
Tomrox98 thank you. 111k is the outstanding shares they have listed on their site. Please see below. This is the info from their site.
How did you come up with a 40 mil number?
- - - - - - - - - - - - - - - - - - - -
Dutch Gold Resources Stock Information
Stock Quote
Dutch Gold Resources (OTCPK:DGRI)
Last Sale: 1.55
Change $: 0.00
Change %: 0.00%
Prev. Close: 1.55
Open: 0
High: 1.55
Low: 1.55
52 Week Range: 1.05 - 2.35
Market Cap: 172.05K
Shares Outstanding: 111.00K
EPS: 0
P/E Ratio: 0.00
Quotes delayed at least 20 mins.
Scorry..welcome to this Board
The outstanding share figure is more like 40 million. see their web page for a better number.
Short term, the reopening of the gold bug mine will be a major catalyst.
Also, their property is being drilled which could prove up additional reserves and resources. This is where the action is at with mining companies.
As Dutch gets more exposure on the "street", expect the stock price to reflect this.
I'm new to this stock but see it only has 111000 outstanding shares - very low liquidity. Can someone tell me what might make this stock move up in the near future. I've read the releases. Perhaps I have missed something significant. I'd appreciate any insights one would care to offer about the prospects of this company.
Amex listing would be sweet.
One stock I follow but do not own (arrgh) is MAG Silver. I met these guys at a show last Sept. when the stock was in the 2's. Now they are going Amex at +/- $12 !
We have a lot in common with MAG. We have a proven mine...watch the stock explode once the property is drilled and the reserves are proven up. That's the "blue sky" potential with Dutch.
Opportunities like this one do not come around very often...
DGRI has been trading nicely
DGRI has been trading nicely over the several weeks. I would think the financials will be filed within next several weeks as the company initially projected the audit to be completed by the end of Q2. Looks to be ready for a nice pop in share price and hope the share price will be over $2 when the financials are out as the company can then apply to be listed on AMEX.
Stock action looks very nice and highly constructive.
I do expect the shares to soon break higher from the current trading range and begin to establish a new one at higher levels.
SM
Good volume(for this stock)and nice fun up today. A great day for mining stocks big moves in GMO and RVNG. I own all three.
Website updated. Nice group of photos have been added.
http://dutchgoldresources.fs5radius3.com/Photo_Album.php
Joe
Followers
|
611
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
102667
|
Created
|
03/13/07
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |