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The COMEX may not default, but it will fade to relative irrelevance. There was a good article about that a while back, I'll see if I can find it.
The COMEX and LBMA will not default--they will manipulate the price down to chase out longs. They do it every time.
http://harveyorgan.blogspot.com/2012/02/greecegerman-unemploymentiransilver-and.html
Today is the First Notice Day for Silver and So We Have This Shameless Bear Raid on Metals
Posted by Jesse
at 11:09 AM February 29, 2012
Feb. 29 Comex March silver futures first notice day
Feb. 29 Comex March copper futures first notice day
Feb. 29 Nymex March palladium futures first notice day
Last night Harvey Organ said:
"This is the first time in quite a while that gold and silver rose big time a day before first day notice. The bankers try and influence our longs not to take delivery so they generally raid. Today was different." http://tiny.cc/qmcpe
Well, Harvey spoke too soon; it really wasn't different. The metals rallied higher yesterday, and then were smacked down in a very calculated and violent bear raid today.
I was expecting something like this, and here it is. These fellows have their backs to the wall in silver.
First day notice is when holders of paper futures give notice to the exchange that they intend to take delivery the silver claims they hold from the Comex warehouse. The amount of paper held is multiples of the bullion that can be delivered at current prices.
The 'tell' is the lack of a serious sell off in equities. The yawning divergence in the risk trade is hard to miss.
This notion that gold and silver are selling off because Bernanke is not going to do QE3 is ludicrous. He does not need to do QE3. The Fed is all over these markets in Operation Twist. Jim Rickards has explained this scenario many times that I have linked here.
What is the answer? Unless you are a full time experienced trader playing with 'cool money,' stop trading. This market is far too thin and given over to gimmicks for the average person to participate. It really is.
Take long term positions that suit your investment situation, and then ignore the noise that the trading desks throw out to shake people from their positions, painting pictures on the charts to shape perception.
Bernanke is still powerful, but the trends in the longer term are even more powerful.
The volatility and gaming in the markets will only get worse, as they are thinly traded and dominated by a few big trading houses that act as they choose, almost with impunity. And if a major default is coming, the volatily will go through the roof.
You have three choices. Buy, sell, or stay out of the daily trade.
And for the vast majority, the last choice is the best, especially while the markets are given over to such inefficiency and corruption. I'm sorry, but that is the way it is. And its a shame on the government, but unfortunately these days the powerful and the elite have none.
If you have the overwhelming urge to gamble with your money, take a trip to Las Vegas or Atlantic City. The food is better, the drinks are cheaper, and the games, although still stacked against you, are at least relatively honest.
And you don't have to worry about the Casino looting your accounts and safe deposit boxes to cover their own personal gambling losses.
http://jessescrossroadscafe.blogspot.com/2012/02/today-is-first-notice-day-for-silver.html
I've been very patient in waiting for this tank. It had to happen to back and fill after a really strong rise.
GPL Great Panther Silver (2.67) current activities focused on precious and base metals from its two wholly-owned operating mines in Mexico.
Q4 production from the Guanajuato mine near Guanajuato in central Mexico, and Topia Mine in Durango State, Mexico at 545,294 silver equivalent ounces included:
Silver production of 354,754 ounces
Gold production of 2,281 ounces
Lead production of 467,000 pounds
Zinc production of 721,500 pounds
Website: http://www.greatpanther.com/English/Home/default.aspx
Pinksheets: http://www.otcmarkets.com/stock/GPL/quote
IHUB: http://investorshub.advfn.com/boards/board.aspx?board_id=17626
1-17-12 Great Panther Silver Reports Improved Fourth Quarter Production
http://www.otcmarkets.com/stock/GPL/news
img]stockcharts.com/c-sc/sc?s=gpl&p=d&yr=1&mn=0&dy=0&id=p31486048990[/img]
GPL Nice pick. Raids like this are cherry picking time!
I picked up some USLV near the low....missed getting some others on the lows.
Just picked up some Great Panther on this rape.
Raid on silver in gold in progress.
Yep, thats why you wait for two bars of the same color to avoid whipsaw. We didn't get a second red bar.
Bill Murphey - GATA: The Russians And Chinese Know What We Know And It Is SO Bullish!
By: Bill Murphy, LemetropoleCafe.com
Posted Tuesday, 28 February 2012 | Source: GoldSeek.com
(no charts were (ab) used in writing the GATA article)
There has been a great deal of commotion of late, and over these past few months, about China and their growing influence in the gold market. It is coverage well deserved and very important. It got me thinking it would be a good time to go a bit retro re the GATA story as it revolves around gold, the Chinese, and the Russians … and why it is so important for gold investors to know what they know … as well as what GATA knows.
It is very simple. The Gold Anti-Trust Action Committee was formed in January of 1999 to expose the manipulation of the gold market. At the time we thought it centered around various bullion banks, such as JP Morgan, Chase Bank, Goldman Sachs, etc. It wasn’t too long after that we realized the manipulation was far more vast … that it included our Fed, US Treasury, Exchange Stabilization Fund, and other central banks such as The Bank of England.
After GATA was formed, the price of gold spent a couple of years below $300 an ounce. Oh how people forget the real deal as time goes by. Back then GATA railed against the hedging practices of the likes of AngloGold, Barrick, etc. At the advice of The Gold Cartel bullion banks, or in cooperation with them, they sold their forward gold production years in advance. GATA POUNDED the table about the absurdity of it all … that it was not only sinister, but a fool’s game. We were attacked/mocked by the gold establishment for vilifying the hedging producers and the bullion banks for their role in the gold price suppression scheme.
Long story short…
*AngloGold and Barrick eventually closed out their hedge books, taking something like $8 to $10 billion in LOSSES apiece.
*GATA is still around and thriving, Goldman "Hannibal Lecter" Sachs let its hedging guru, Don McConvey, go as JP Morgan did to its guru, Kevin Crisp. While The Gold Cartel’s initial ringleader, Goldman Sachs, disappeared from the gold rigging scam a few years ago.
*The price of gold rose to $1900+ per ounce, corrected, and is now on its way to $3,000 to $5,000 per ounce … which is the price I jumped up and down about at our Gold Rush 21 Yukon Conference in August of 2005 … a price (in my opinion at the time) that would eventually be needed to clear the market. The price of gold back then was $436 per ounce!
How could GATA get it so right and the bullion banker big shots get it so wrong? Simple again … GATA knew that the supply/demand situation was far more bullish than acknowledged by EVERYONE in the mainstream gold world. We KNEW that a 1500 tonne demand deficit at the time was being met by surreptitious central bank/Gold Cartel selling. We also knew The Gold Cartel could not maintain that sort of central bank gold drain. This was not acknowledged by the gold world establishment, as it would have revealed the gold price suppression scheme.
I could go on and on, so let’s get to the nitty gritty of what ought to be of investment interest to you right now. While the US will not give GATA the time of day (CNBC’s Ron Insana interviewed me in February of 1999. Once CNBC heard what GATA had to say, we have been banned from CNBC US ever since.), the Russians and Chinese have been all over what GATA has overtly laid out, and quietly positioned themselves accordingly as to their accumulation of gold reserves.
This is no braggadocio on GATA’s part. They found out some time ago that the gold price was artificially suppressed. This is what GATA knew so long ago and explained/documented. The Gold Cartel was secretly using up their available central bank gold supply in order to suppress the price. This was UNSUSTAINABLE and was obvious to GATA. We KNEW that The Gold Cartel could not continue to suppress the price, only MANAGE its price on the upside … which is why the price has now risen 12 years in a row. My term, for umpteen years now, has been to call it a "managed retreat." The Gold Cartel can only play their pitiful games to win battles, on their way to losing The Gold War … as the price goes UP, and UP, and UP, year after year.
The bottom line is the Russians and Chinese know this Gold Cartel is artificially suppressing the price of gold to suit their own agenda. On a bigger picture basis, the gold price is ALWAYS too cheap, year in and year out. For example, it is commonly stated that if the price of gold kept up with the acknowledged US inflation numbers, the price would already be $2500 per ounce. AND, that is without taking into account all the money printing going on in the US and Europe at the moment.
The Chinese and Russians have known for YEARS that gold has been way too cheap and why, which is a main factor in their buying. GATA was first clued in the Russians, who are major gold producers, were paying attention to GATA in 2004…
10:13p ET Sunday, October 3, 2004
Dear Friend of GATA and Gold:
Movements in the price of gold are sometimes "so enigmatic" and central banks and bullion banks are so involved with it that the gold market may be less than free, the deputy chairman of the Bank of Russia says.
The deputy chairman, Oleg V. Mozhaiskov, made the remarks in a speech at a meeting of the London Bullion Market Association in Moscow in June, but the LBMA and other participants in the meeting suppressed it, refusing repeated requests to release a copy.
After months of negotiation, the Bank of Russia last week supplied the Gold Anti-Trust Action Committee with an English translation, which is appended.
In his speech to the LBMA Mozhaiskov cited GATA's work at length, and while not formally endorsing it, he showed that the Bank of Russia has been following it closely and knows that much more has been going on in the gold market than is widely acknowledged. Likening the central bank to a giraffe, Mozhaiskov quoted a poem well-known in Russia: "The giraffe is tall, and he sees all."
The central banker acknowledged that the great increase in the use of derivatives and central bank leasing of gold have depressed its price in recent years.
Mozhaiskov also denounced "the blatant lack of discipline" of United States fiscal policy and "the social and economic injustice of a world order that allows the richest country in the world to live in debt, undermining the vital interests of other countries and peoples."
Despite its use as jewelry, gold is mainly a financial asset, not merely a precious metal, Mozhaiskov said, and international financial circumstances are making gold particularly and hard assets generally ever more desirable for investment.
GATA is grateful to Mozhaiskov and the Bank of Russia for their willingness to address gold market issues openly, and we will encourage study and discussion of this speech.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
* * *
Less than a year later GATA was contacted by a key economic advisor to Russia’s President Putin, Andrey Bykov, who said he would like to attend our Gold Rush 21 conference in the Yukon. The moribund price of gold exploded out of nowhere two days following that conference.
Months later:
Not for nothing, Andrey then came to our Gold Rush 2011 conference at The Savoy Hotel this past early August in London. How GATA further intertwines with the Russians is inferred in the following MIDAS commentary of nearly two years ago…
March 31, 2010 - Gold $1113.30 up $8.80 - Silver $17.52 up 21 cents.
For the first time in 11 years I have not watched one second of CNBC while home in Dallas. Had no time. The first part of the day was spent dealing with GATA matters which I cannot get into at this point in time (don’t bother even asking me). Then, from 10:30 to 2:30 I spent a delightful time with Emilya Khatskevisch, a Russian TV journalist from San Francisco, and Alexander Sasha Burkative, another Russian and an Event Videography guy who was the cameraman (also from San Francisco). Both came to Dallas for Channel 1 TV in Russia, formerly (love this one), The Television Channel for The Soviet Union. It has been in business since the 1950’s and is the equivalent to NBC or CBS here in the States.
The interview is about a documentary Channel 1 is doing on gold and the dollar. It was a very long interview and Emilya asked about 30 questions, which were quite good. She said this was her best interview. I don’t mind mentioning this after being forced to super speed my 5 minute delivery before the CFTC. She also said that "GATA is famous in Russia." Again, how bizarre … the mainstream financial market press in the US won’t even mention that we exist.
Emilya was very impressed when I showed her a four page story in one of the most respected Russian monthly magazines which featured GATA, with my picture and our GATA painting front and center. It was in 2002. It’s only been 8 years since that big spread and the US financial market press still won’t mention our name. What a joke!
Just so you know that what I am relaying to you is not GATA hype, my good friends Jim Smith and Bill Laggner (both highly successful money managers here in Dallas) were here for the entire interview. We all went out to lunch at Villa O afterwards. It was most enjoyable. I asked Emilya if she would have the producers contact GATA when the show goes live, and, if possible, to sent us a recording of the program.
-END-
As far as GATA and the Chinese go, it is laid out in this running MIDAS commentary over the past many years. As you will read, GATA was on the Chinese, as they were on to us, many years ago…
September 4, 2011 - Gold $1884 - Silver $43.25
MIDAS SPECIAL - WikiLeaks/US Embassy In Beijing Price Suppression Cable/China/GATA On The Move In Hong Kong And London
This goes in the You Can’t Make This Up category. First, from my Friday MIDAS commentary:
*There is increasing talk of a gold standard. But so far none of the discussion has focused on whether the central banks still have anywhere near the gold they say they have. GATA has long stated they have less than half the gold the World Gold Council claims they do.
What a fiasco when the investment world learns what GATA believes is surely the case. There is no telling what the price of gold will do as this scenario unfolds. How ironic that the Chinese and Russians have been following GATA, and continue to encourage gold ownership, while the US financial market press ignores us, not even allowing our views to be presented to the American public.
*The bit about the Russians and Chinese is not poppycock. The number two Russian central banker spoke about GATA at an LBMA conference in Russia in 2004…
10:13p ET Sunday, October 3, 2004
http://www.lemetropolecafe.com/pfv.cfm?pfvID=4133***
And then key economic consultant to Russia’s President Putin, Andrey Bykov, attended our Gold Rush 21 conference in The Yukon in 2005 and our London Gold Rush 2011 in August. Several of us in the GATA camp were part of THREE conference calls years ago with the Chinese Investment Corporation, one of the Chinese sovereign wealth funds.
Never get tired of watching the 2 minute+ trailer of Gold Rush 21 which gives some insight into what Andrey Bykov took back to President Putin and The Russian Central Bank:
http://www.gata.org/node/20
THE PRICE OF GOLD EXPLODED IMMEDITATELY FOLLOWING BOTH CONFERENCES!!!
***
Twenty-four hours later GATA's Chris Powell sends out the following missive:
FLASH: China knows about gold price suppression, and U.S. knows China knows
Submitted by cpowell on 03:33PM ET Saturday, September 3, 2011. Section: Daily Dispatches
6:47p ET Saturday, September 3, 2011
Dear Friend of GATA and Gold:
China knows that the U.S. government and its allies in Western Europe strive to suppress the price of gold, and the U.S. government knows that China knows, according to a 2009 cable from the U.S. Embassy in Beijing to the State Department in Washington.
The cable, published in the latest batch of U.S. State Department cables obtained by Wikileaks, summarizes several commentaries in Chinese news media on April 28, 2009. One of those commentaries is attributed to the Chinese newspaper Shijie Xinwenbao (World News Journal), published by the Chinese government's foreign radio service, China Radio International. The cable's summary reads:
"According to China's National Foreign Exchanges Administration, China's gold reserves have recently increased. Currently, the majority of its gold reserves have been located in the United States and European countries. The U.S. and Europe have always suppressed the rising price of gold. They intend to weaken gold's function as an international reserve currency. They don't want to see other countries turning to gold reserves instead of the U.S. dollar or euro. Therefore, suppressing the price of gold is very beneficial for the U.S. in maintaining the U.S. dollar's role as the international reserve currency. China's increased gold reserves will thus act as a model and lead other countries toward reserving more gold. Large gold reserves are also beneficial in promoting the internationalization of the renminbi."
It's hard to believe that, two years later, China is still leaving so much of its gold with the Federal Reserve Bank of New York and the Bank of England when even little Venezuela has publicly figured out the gold price suppression component of the Western fractional reserve banking system and is attempting to repatriate its gold from the Bank of England and various Western bullion banks:
http://www.gata.org/node/10281
http://www.gata.org/node/10286
It is already a matter of record that China dissembled about its gold reserves for the six years prior to the public recalculation of its gold reserves in April 2009 that prompted the commentary in Shijie Xinwenbao. At that time China announced that its gold reserves were not the 600 tonnes it had been reporting each year for the previous six years but rather 76 percent more, 1,054 tonnes:
http://www.gata.org/node/9545
ZeroHedge, which seems to have broken the story of the Beijing embassy cable this evening, comments:
"Wondering why gold at $1,850 is cheap, or why gold at double that price will also be cheap, or, frankly, at any price? Because, as the following leaked cable explains, gold is, to China at least, nothing but the opportunity cost of destroying the dollar's reserve status. Putting that into dollar terms is, therefore, impractical at best and illogical at worst. We have a suspicion that the following cable from the U.S. embassy in China is about to go not viral but very much global, and prompt all those mutual fund managers who are on the golden sidelines to dip a toe in the 24-karat pool."
The ZeroHedge commentary can be found here:
http://www.zerohedge.com/news/wikileaks-discloses-reasons-behind-chinas-...
In addition to fund managers throughout the world, this cable may be of special interest to the gold bears CPM Group Managing Director Jeff Christian, who says he consults with most central banks and that they hardly ever think about gold, and Kitco senior analyst Jon Nadler, who insists that central banks have no interest whatsoever in manipulating the gold price.
In fact, of course, gold remains the secret knowledge of the financial universe, and its price is actually the determinant of every other price and value in the world.
The Beijing embassy cable can be found here:
http://cables.mrkva.eu/cable.php?id=204405
And, just in case, at GATA's Internet site here:
http://www.gata.org/files/USEmbassyBeijingCable-04-28-2011.txt
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
So much that can be covered here, but first and foremost, GATA’s credibility and proof of our understanding of the real gold market (one not reported on by the mainstream gold world, Planet Wall Street, and the financial media) just took another giant leap forward. We have been all over the Chinese buying gold story for MANY years, having reported them buying secretly via intermediaries from our STALKER source.
It is quite intriguing and represents GATA’s track record of how we have nailed what was really going on in the gold market all these years, while being disparaged by the mainstream gold world and our critics. See for yourself:
April 24, 2009 - Gold $913 up $7 - Silver $12.92 up 12 cents
GATA’s Credibility Soars On China Gold Buying News
GATA’s credibility took another leap forward this morning when China announced it has increased its gold reserves to 1,054 tonnes from 600 tonnes. For years and years and years GATA has claimed that the gold world establishment has failed to account for surreptitious gold lending operations by The Gold Cartel to suppress the price. For there to be greater gold supply hitting the market, there had to be greater demand to satisfy this undisclosed supply. As a result of Frank Veneroso’s brilliant supply/demand work in years past, we mentioned that one of the demand areas, that the likes of a GFMS was not accounting for, was China, and that someday their stealth buying would be reported. Voila…
China gold reserves apparently doubled
HONG KONG (MarketWatch) -- China has added to its gold reserves and now holds 1,054 metric tons of the yellow metal, according to a Friday report by the Xinhua News Agency, which cited comment by Hu Xiaolian, head of the State Administration of Foreign Exchange.
Hu said that China's gold reserves had risen by 454 metric tons since 2003 and that the total was being reported to the International Monetary Fund as per the organization's rules.
A Dow Jones Newswire report said the figure cited was nearly double China's reported gold reserves as of the end of last month, but noted that it wasn't clear which gold reserves Hu was referring to.
She said China's gold reserves now rank fifth in the world among nations which publicly disclose their holdings.
Analysts said China bullion buying reflects efforts to diversify their nearly $2 trillion stockpile of foreign exchange reserves.
"Chinese officials have been increasingly vocal about their concern on the U.S. dollar and the U.S. bailout policies of late, and have actively been seeking to diversify into other assets, especially commodities," said Martin Hennecke, an associate director with Tyche Group in
Hong Kong…
-END-
To say that this revelation is a big deal is an understatement … for a number of reasons…
*It is more evidence that various central banks are increasing their gold holdings, in contrast to a number of western banks which have been selling for more than a decade.
*China’s move debunks Planet Wall Street and other western central bankers that gold is a barren asset and not worth owning.
*And it enhances the notion that gold is a valuable reserve which will encourage other central banks to follow China’s lead.
*It surely will spook some of the sheeple central bankers who have foolishly dumped their country’s gold reserves at bargain basement prices … especially at a time when the West is looking at one financial crisis after another and the world’s major currency reserve, the dollar, is looking very suspect. A number of them are unlikely to press for further bullion sales from their countries’ reduced reserves.
*The likelihood of China continuing to build its reserves is extremely high. They were secretly building their gold reserves BEFORE the latest financial crises. If this was the Chinese mindset then, what must it be now? As is, their percentage of gold reserves is still on the very low side.
*Because of what the US is doing with our bailouts and fiscal deficits, the US dollar is surely on a precipice, thus China must be looking to accumulate more gold. Therefore, this is not a sell the news market announcement. It is just the opposite. It is a clarion call to buy physical gold.
*That clarion call will not go unheeded by the sophisticated big money in the world.
*This is a major new headache for The Gold Cartel.
Derrick sends us some retro on China/gold which was brought to your attention years
ago…
China's forex watchdog faces dilemma on expanding gold reserves
From Xinhua News Agency
Monday, December 26, 2005
http://news.xinhuanet.com/english/200512/26/content_3971982.htm
SHENZHEN, China -- To buy or not buy? That's a question for Chinese foreign exchange authorities. They have been urged to expand gold reserve since the Renminbi appreciation, but the decision is hard to make since the gold prices are rocketing.
Some economists have been appealing to the State Administration of Foreign Exchange to expand China's gold reserve after the Renminbi appreciation in a bid to reduce the country's reliance on the greenback....
***
GATA has been all over the Chinese gold buying case and we can account for it in our understanding of the true supply/demand picture. GFMS and the World Gold Council CANNOT!
And then to shed light on the MIDAS analysis and what lies ahead…
Bill,
I reproduce the following from a Financial Times article this morning declaring that China's gold reserves have officially been revised to 1,054 tons from 600. You have long held the view that China was buying gold through intermediaries and would eventually disclose part or all of these activities. It is the end quote I append that caught my eye:
"Hou Huimin, vice general secretary of the China Gold Association, said China should build its reserves to 5,000 tonnes.
"It’s not a matter of a few hundred, or 1,000 tonnes. China should hold more because of its new international status, and because of the financial crisis," he said. "The financial crisis means the US dollar’s value is changing fast, and it may retreat from being the international reserve currency. If that happens, whoever holds gold will be at an advantage." (emphasis added)
Thought you might be interested.
All my best to you and your health, Brad
And here’s a big tip o’ the hat to our STALKER source who nailed this one, beginning back in 2003, which just happens to be the year the Chinese now admit they started buying.
Doing a Café search, I have yet to find the initial presentation to The Café ... but the bottom line is our source went to Phoenix for a meeting with six others in 2003. Our source was there to act as a gold buyer in the future. The person who held the meeting spoke FROM BEHIND A SCREEN, as he did not want to disclose his identity. While speaking perfect English, our source thought at the time he might be Chinese and did not wish that to be known.
Our STALKER source called today and I could almost see the smile on his face through the phone. He reminded me of another tip, i.e. it was Chinese doing the buying, and he reported it was going through Australian banks, which have a longstanding relationship with the Chinese.
It is with great pleasure to bring MIDAS commentary to you re the Chinese/STALKER from more than half a decade ago…
September 10, 2003 - Gold $379.70 down $1.80 - Silver $5.22 unchanged
The Stalker
…Could any market trade more predictably than gold has the past month? Every time gold rallies sharply and early in a given day, it is capped by The Gold Cartel, sold off later in the trading session, brought down early that evening in overseas trading, and then is pressured all the next day by the same cabal. Over and over we see the same trading pattern.
You see it, I see it, and SO MUST the $4.6 billion buyer, which MIDAS characterized in general as being around some $40 ago. It seems to me this "gold buying group" is playing with The Gold Cartel. They know the cabal’s drill as well as we do and probably devised a trading plan to take them on, not fight them too hard on given days, and then overpower them.
This "gold buying group" must know what GATA knows, in that the cabal has a serious vulnerability, or Achilles Heel, when it comes to the physical gold market:…
-END-
September 11, 2003 - Gold $379.30 down 40 cents - Silver $5.30 up cents
Dramatic Gold Day / Silver On The Move / Both Have Fireworks Potential
…Today's action was very supportive of MIDAS' notion there is a Stalker ("gold buying group") out there taking on the corrupt Gold Cartel. They waited for Goldman Sachs to strike, then attacked, sending gold $7 off its lows. Dramatic it was. This is a big deal. Other traders will see how easily gold came back after filling the gap and will encourage them to get long, especially since the gap was filled. The huge open interest also suggests a significant move is coming. Gold’s startling comeback suggests that move is going to be one which takes the price MUCH higher….
-END-
September 19, 2003 - Gold $381.10 up $4.80 - Silver $5.25 up 2 cents
The Stalker Strikes With Another Huge Gold Buy Order!
…Gold came in stronger than expected on the Comex opening, which is almost always a very constructive development. It left a $1 gap and quickly shot up all morning, topping $383 at one point. Then the requisite Gold Cartel $6 price-capping rule went into play. That was all she wrote. The cabal regrouped and held gold in check the rest of the trading session and then did their requisite slam, knocking gold down a buck ON THE BELL.
These no-good low-lifes are pitiful. Ah for the day when we can get our stretchers out, pick them off the mat, and then dump them in the sewer!
The big news is for Café members only. I received a call from London about The Stalker and learned a bit more about this "gold buying group." Two goodies for you:
*In addition to the $4.6 billion order, The Stalker is buying well in excess of another billion dollars worth of bullion and gold coins. The MIDAS analysis over these past months of huge new buying interests entering the gold arena looks better by the day.
*The orders are emanating out of New Zealand and Australia. My source believes it is Asian money and most likely CHINESE!
This is wonderful news as it would mean the Asian (Chinese) gold buy program is competing with Indian, Turk and Arab buying. Put them all together and it is easy to comprehend why The Gold Cartel has not been able to flush out the massively long specs.
The Eastern buyers are always there on dips competing against one another for a diminishing supply of gold.
It also explains why gold has been moving up in price with a corresponding, but lagging, move in the dollar. Gold is leading the way and doing so for the reason John Brimelow and I have articulated for so long. The key to the gold price is the surging physical gold market taking on the corrupt and devious Gold Cartel…
-END-
December 23, 2003 - Gold $410.65 up 55 cents - Silver $5.71 up 2 cents
A STALKER Of A Gold/Silver Tale For Christmas Time
…As Café members have been made aware, the Eastern gold buyers have additional competition due to the enormous physical market buying by THE STALKER ("gold buying group"). Without getting into many details, I want to stress THE STALKER is real. My source’s good friend has attended a meeting with this "gold buying group," or his agent. I say "or" because THE STALKER is very secretive and does not want to be known publicly, even to the sellers from whom he is buying.
Both my source and I strongly believe the gold buying is of Chinese origin…
-END-
January 5, 2004 - Gold $423.80 up $8.60 - Silver $6.19 up 27 cents
Gold ($423.80) And Silver ($6.19) SOAR!
…*THE STALKER input has been incredible. Every time I get word this "gold buying group" is in the market, gold moves higher. Just as I was writing this, I received a phone call from "Mike," my STALKER source. He tells me THE STALKER was in the market today and they are going after $1.4 to $1.6 billion worth of gold in the near term…
-END-
January 15, 2004 - Gold $408.30 down $13.10 - Silver $6.19 down 21 cents
Ouch! Gold Cartel Wins A Battle
…Good news! Just got off the phone with my STALKER source. There was an unscheduled phone conference this afternoon with THE STALKER’S US buyers. They have a NEW order for $800 million to $1.2 billion to be completed between now and March. 72 tonnes of new gold buying is nothing to sniff at! The orders are still coming out of Australia and my source continues to believe they are for mainland China…
-END-
January 28, 2004 - Gold $414.60 up $4.90 - Silver $6.60 up 7 cents
Silver Closes At Six-Year High/Gold Charges Up $5/Gold Share Massacre Orchestrated
..In my various presentations and public commentary at the Vancouver conference I stressed the importance of what was going on in the physical gold/silver market and laid out what has been presented to Café members, including John Brimelow’s unique and extremely valuable work. There was no one else at the conference doing so. While most conference presenters stressed the weak dollar as the most important gold factor, I stressed it was the surging physical market.
In that regard, I learned this morning THE STALKER (probably China) just completed the last bit of its $6.8 billion order. NOW, THE STALKER is working on its additional 800 million to $1.2 billion dollar gold order (brought to your attention recently). I might know more on this on Friday.
To give you some idea of how significant this is, Norway just reported they sold 16 tonnes of gold in January (see below) and plan to dump another 17 tonnes of bullion, which will clean them out. The Gold Cartel and friends jump up and down about more central banks selling their gold and make a big deal how negative it is. What The Gold Cartel fails to tell the press and their clients is who is BUYING gold and to what extent. Can they all be so uninformed?…
-END-
February 24, 2004 - Gold $403.90 up $5.70 - Silver $6.59 up 13 cents
Silver and Gold Pop Very Nicely / $6 Rule AGAIN
…Some input from a bullion/coin dealer who has been in the business for 40 years. He has not seen the physical gold market this tight in two decades. The physical market is in a bit of a disconnect with the price-rigged Comex. Silver is also extremely tight according to my source and only trades in size at a PREMIUM. You cannot buy a decent amount of physical silver without paying up. Wait until next month!
Some STALKER feedback. We have confirmed the buyer is from the Far East, in all probability Chinese, and they still have $1.5 billion of gold to buy. We also know why they are buying. This is a big picture trade, not a short-term speculation. The gold they are accumulating is going into deep storage and not coming back into the market on rallies. The reason is these "Chinese" fear a complete debacle in fiat currencies in the next couple of years…
-END-
That’s enough for now. You get the picture. The GATA camp was right on the money about Chinese gold buying while there was nary a peep about it from the mainstream gold world, or from the big shot bullion dealers on Planet Wall Street.
***
Going to soak the latest China news re GATA for all it is worth, have some fun with it, and bring more of what we said two years ago to the front and center:
September 3, 2009 - Gold $996 up $19 - Silver $16.26 up 91 cents
Gold, Silver SOAR/Sudden Talk Of The Town/China, GATA And Gold
Ask and ye shall receive! Both gold and silver gapped up higher and then made a run for the upside as the day wore on.
What a difference a day makes. On Tuesday gold was off most everyone’s radar screens, including a number of former Café members. Despite going up NINE years in a row, tedium had set in on gold’s inability to perform up to expectations based on financial events … courtesy of you know who. The general public and pundits lost interest in the gold story. It’s fascinating, as mentioned here for months, how gold makes its boldest moves higher when investors aren’t paying attention.
Yet by yesterday afternoon gold was suddenly the talk of the town, lighting up the CNBC and Bloomberg scoreboards … and there was tons more talk all day today. Bulls came out of the woodwork and one clueless Muppet after another offered an opinion why gold was the place to be. PRICE ACTION MAKES MARKET COMMENTARY. Most of the opinions were one day thought-outs … coming up with the same reasons why gold is so bullish which have been in place all summer. And naturally, not ONE mentioned the real reason gold is on the move: The Gold Cartel is gradually losing control of their rig.
However, one solid reason given for gold’s lurch to the upside is CHINESE buying. Those pundits citing the Chinese as formidable buyers are right on the money…
In Currencies: The early chatter was all about the recent moves in metal prices (see commodity section below), particularly gold. Speculation mounted that perhaps pressure on the Chinese state-controlled organizations to dump dollars in favor of more concrete assets like gold were swirling among dealing desks. Thus the USD's tone was subdued as gold hit fresh 3-month highs towards $990/oz. The renewed chatter of Chinese reserve diversification will add to the dollar supply and also reinforce the gold tone.
In commodities: Dealer chatter circulating that recent move in metals might be attributed to Chinese Sovereign Wealth Fund diversification (complemented by selling USD) . There were numerous comments from Chinese officials made in Q4 2008 on this topic. Back on Dec 16th the Ministry of Industry & Information commented that China sought to increase reserves of strategic materials. Back on Nov 18th China's PBoC was considering raising its gold reserve by 4K tons and the prior day (Nov 13th) the HK Standard reported that China might seek to buy gold in a move to diversify its currency reserves and the article added that China currently holds about 600 tons of gold and could increase this amount to as much as 4K tons.
http://www.fxstreet.com/fundamental/analysis-re
ports/european-market-update/2009-09-03.v02.html
-END-
…BUYING THE FARM
Chinese sovereign wealth fund dumping dollars for strategic investments like gold
Reports suggest that China's main sovereign wealth fund and other state entities are under pressure to invest in strategic Western assets as the country tries to offload its dollars for firmer-based wealth including gold and oil.
Author: Lawrence Williams
Posted: Thursday , 03 Sep 2009
LONDON -
Several reports are coming out of China that there is pressure on state-controlled organisations - notably the country's main sovereign wealth fund, China Investment Corporation (CIC) to rapidly build investment in non-Chinese enterprises. While the CIC itself, with apparent access to some $300 billion in funds - and the possibility of more from the government - may be concentrating on hedge funds and other investment entities, there is another sector for Chinese state-owned companies looking at major investment in commodities. Indeed with the funds available as China seems to be dumping its US dollars in favour of more concrete assets, virtually no minerals sector is safe from Chinese participation.
http://www.mineweb.com/mineweb/view/mine
web/en/page67?oid=88400&sn=Detail
-END-
Veteran Café members know that MIDAS has been jumping up and down about China since 2003 when their buying commenced and especially as of last April when they announced an increase in their gold reserves of 460 tonnes. You also know that GATA has had THREE conference calls with the Chinese Investment Corporation since April of 2008. While the mainstream gold world and US financial market press won’t give GATA the time of day, The Chinese and Russians (Key economic consultant to President Putin, Andrey Bykov, and the Russian Central Bank) have gobbled up our stuff. Thus, they know what the gold market is all about and they know where the price is going and WHY! But Planet Wall Street? … out to lunch.
In addition, over the past two weeks I heard from TWO reliable sources the Chinese intend to buy MANY hundreds of tonnes of gold in the years ahead. So all this Chinese gold smoke is for real. There is a fire behind the smokescreens and all the chatter about China and gold is for good reason.
Gold is the talk of the town in Hong Kong too. From a fellow Café member in Hong Kong last night…
Dear Bill,
In the Hong Kong Chinese newspapers and in the South China Morning Post, there are articles reporting that a new storage facility for gold is now open at Chek Lap Kok, at Hong Kong’s airport. According to these articles, the Hong Kong government’s gold bars stored in London will be shifted to Hong Kong’s new storage space at the airport by the end of this year. (One wonders why it should take so long to shift the gold)
The Ming Pao Newspaper, which is in Chinese, reports that the the Hong Kong officials responsible for the facility are discussing ways of cooperating with the Shanghai Gold Exchange. Because of the foreign exchange rules and restrictions in China, gold can not be as freely moved in and out of China as in Hong Kong. Therefore, Hong Kong may act as one facility for the delivery and storage of gold bars for the Shanghai Gold Exchange.
Usually I send you articles for the Standard but there in no article on this story in that journal. I do not have a subscription to the SCMP so I can not send you the full story. However, below is the link to the SCMP article that is in English.
Best regards,
Carolyn
-END-
Four days later I sent the following MIDAS commentary to all the financial media I could think of (not one responded):
9/8 GATA MEDIA SPECIAL - The Reason for Gold’s Imminent Price Moon Shot? It’s a Simple Supply/Demand Story.
Oh well, GATA is used to being ignored and abused … part of the territory. But, perhaps that is all about to change, thanks to the efforts of Chris P. After the Cambridge House investment conference in Toronto on September 14 and 15, he is off speak at the largest investment conference in Asia, one hosted by actor George Clooney. Then, it will be London in which he is the featured speaker at the Pi Capital conference … sandwiched between featured speakers former US President Jimmy Carter and the renowned George Soros. GO CP!…
Is GATA suddenly becoming almost respectable?
Submitted by cpowell on 09:51AM ET Sunday, September 4, 2011. Section: Daily Dispatches
1:02p ET Sunday, September 4, 2011
Dear Friend of GATA and Gold:
Thanks to a friend met in London just after GATA's Gold Rush 2011 conference there last month, your secretary/treasurer has been invited to affect some respectability and speak at a couple of financial conferences well outside the usual precious metals circuit.
The first is the CLSA Investor Forum in Hong Kong from September 19-23, said to be the largest investment conference in Asia. Host of this year's conference is to be the actor and human rights advocate George Clooney:
https://www.clsa.com/about-clsa/media-centre/2011-media-releases/clsa-to...
The conference is open only to CLSA clients.
Then on October 10 your secretary/treasurer has been invited to address the weekly Pi Capital conference, which, the previous week, will be hearing from former President Jimmy Carter and, a couple of weeks later, from fund manager George Soros:
http://www.picapital.co.uk/events.aspx?MasterId=176
Some current or present government officials with responsibility for the British end of the gold price suppression scheme may be in the audience, so it could be interesting. But this too is a members-only event.
That GATA suddenly should be welcome, if only tentatively, in such circles may be construed as evidence that the gold price suppression scheme is beginning to escape derision as mere "conspiracy theory" and starting to seem at least plausible, probable, or even fully documented to people in a position to act on the knowledge.
In any case GATA has come a long way since its incorporation 12 years ago. If you're encouraged by our progress and are inclined to help sustain our work, please consider making a donation:
http://www.gata.org/node/16
We promise to try to keep making trouble with it. Remember that the World Gold Council, which presumes to speak for both the gold mining industry and gold investors, is said to have an annual budget of more than $60 million, raised from assessment against the mining companies that are its members, and most of that just goes for hanging out with beautiful young women modeling expensive jewelry. (Somebody's got to do it, we suppose.) But it's not merely envious to note that this does little for the cause of establishing free markets in the monetary metals, even as GATA, having no regular income, has no annual budget. We sustain ourselves on what our friends can provide irregularly.
On the other hand, maybe the gold price suppression scheme will blow up in advance of the Hong Kong and London conferences and we can move on to trying to prove something else -- maybe flying saucers or Bigfoot. Maybe that would get us into The Wall Street Journal or The New York Times at last.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
***
As you can surmise from all that discourse, the Russians and Chinese have known what GATA knows for some time and have acted accordingly … and did so very secretly for a number of years. As the reasons to own gold continue to mount, there is no reason to believe their gold buying will cease anytime soon, especially as the Chinese in particular encourage their citizens to purchase gold, and various exchanges have precious metals exchanges have been popping up all over the place in Asia.
You might want to keep all of this in mind when the price of gold sells off, and one gold pundit commentator after another predicts the demise of the gold bull market, and that it is a bubble popping (even though the average US citizen can’t even spell gold yet). While these pundits are negative, the Chinese and the Russians are saying, "Thank you very much," on the dips and buying.
It just might be my long held $3,000 to $5,000 price prediction might be too conservative.
Bill Murphy
Chairman
Gold Anti-Trust Action Committee
PS:
GATA is not only a think tank group that talks the talk, we have been WALKING the WALK for more than a decade. Besides speaking at various conferences all over the world, we have held four of own international conferences in an effort to get the truth out there to the investing public about the gold and silver markets … to counter the heinous activities of The Gold Cartel.
The four international GATA conferences:
*The GATA African Gold Summit in Durban, South Africa on May 10, 2001, was attended by 5 sub-Saharan African nations, the South African Reserve Bank, leading SA gold producers, the South African unions, etc., - an event that was featured on SABC television.
*On August 8th and 9th 2005, GATA hosted Gold Rush 21 in Dawson City, Canada, a historic conference held in the Yukon to expose the manipulation of the gold market. One hundred delegates attended from 14 countries, including Andrey Bykov, an economic consultant to Russian President Vladimir Putin.
*Then, on April 18, 2008 it was The GATA Goes To Washington conference in Arlington, Virginia. 180 attendees came from 17 countries for the gathering. The conference showcased GATA’s FOIA efforts to learn the truth about US gold reserves from the Fed and US Treasury … which led to a lawsuit against the Federal Reserve System in The United States District Court For The District of Columbia.
*Finally, in August of 2011 GATA hosted an international precious metals conference at The Savoy Hotel in London to expose the manipulation of the price of gold and silver. Four hundred people attended from 38 countries. Many of the attendees said it was the "finest conference" they ever attended.
GATA intends to win the day in our efforts to expose the manipulation of the gold and silver markets. We have been effective so far thanks to the generous contributions of so many. Nothing has changed in that regard. CP and I intend to make the lives of the honchos of The Gold Cartel as miserable as possible. We need your financial support to make that happen.
Most importantly, for you the reader, as the surreptitious activities of the gold and silver markets are exposed, the prices of gold and silver will go bonkers. AND, the gold/silver shares will go ballistic too. If I might say, this is one you can take to the bank: TEN BAGGERS in the decimated gold/silver exploration/junior share sector will be commonplace. The timing of this coming wealth bonanza has been very tricky and overdue. BUT, it is coming ... and is the reason WHY, you:
GATA BE IN IT TO WIN IT!
-- Posted Tuesday, 28 February 2012
http://news.goldseek.com/LemetropoleCafe/1330458367.php
Lake Shore Gold Announces Results of Preliminary Economic
Assessment for Timmins West Mine, PEA Highlights Potential for
Positive Economics, Substantial Cash Flow and Attractive Returns
02/28/2012
http://www.lsgold.com/Investor-Centre/Press-Releases/Press-Release-Details/2012/Lake-Shore-Gold-Announces-Results-of-Preliminary-Economic-Assessment-for-Timmins-West-Mine-PEA-Highlights-Potential-for-Posit/default.aspx
TORONTO, ONTARIO--(Marketwire - Feb. 28, 2012) -
Lake Shore Gold Corp. -
(TSX:LSG)(NYSE Amex:LSG) ("Lake Shore Gold" or the "Company")
-- PEA shows potential for over $60 million of free cash flow(1) in Year 2,
and over $100 million of annual free cash flow starting in Year 3 (based
on current gold prices)
-- Potential 10 years of production based on current resources, with annual
production in Years 3 to 9 averaging 160,000 ounces recovered, peaking
at 175,000 ounces
-- Average annual cash operating costs of US$625 per ounce, US$590 per
ounce in Years 3 to 9 (based on a Canadian dollar at par with U.S.
dollar)
-- At current market prices(2), potential for total undiscounted cash flow
of $1.14 billion, pre-tax net present value ("NPV") of $880 million (5%
discount rate) and a payback period of 1.25 years
-- At analyst consensus pricing(3), potential undiscounted cash flow of
$730 million, a pre-tax NPV of $570 million (5% discount rate), with
payback period of 1.25 years
-- Significant opportunities exist to enhance project economics through
improved operating cost performance, capital optimization, resource
growth and increased throughput.
http://www.lsgold.com/Theme/LakeShore/files/doc_presentations/LSG_tdconference_2012_01_23.pdf
http://www.lsgold.com/Investor-Centre/Presentations/default.aspx
http://www.lsgold.com
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=71908281
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=72169146
God Bless
Price blasted thru the fork so it's negated.
25.60 at resistance...see if it takes it out
Once again, gold/silver up. Miners...pffffft.
Silver Bull Intersects High Grade Zone of 417 g/t Silver Over 10 Meters and 283 g/t Silver Over 13.05 Meters Within 100+ Meter Intercepts of Silver Mineralization on the Centenario Zone at the Sierra Mojada Project, Coahuila, Mexico
VANCOUVER, British Columbia, Feb. 27, 2012 /PRNewswire/ -- Silver Bull Resources, Inc. (TSX:SVB, AMEX:SVBL) ("Silver Bull") is pleased to provide the results for another 10 drill holes targeting the "Centenario Zone", a new zone of silver mineralization that lies to the north and immediately adjacent to the "Shallow Silver Zone".
Highlights include:
* 2 drill holes with 100+ meter intercepts of silver oxide mineralization intersecting high grade zones of 417.64g/t silver over 10m, 283.89 g/t silver over 13.05m and 176.77g/t silver over 21.5m.
* The extent of the known silver mineralization in the Centenario Zone is now 450 meters in an east-west direction and 300m north-south direction and remains open in all directions.
* A high grade core of silver mineralization >100 g/t sitting within a large lower grade halo <100 g/t of silver mineralization hosted along the east-west trending “Centenario fault”.
* The Centenario Zone lies approximately 300m to the north of the Sierra Mojada Fault which hosts the main body of the “Shallow Silver Zone” which has a present NI 43-101 compliant resource of 47.3 Moz of silver in the “indicated” category and 13.8 Moz of silver in the “inferred” catagory.
The drilling results continue to confirm the continuity and tenor of the silver mineralization in the Centenario Zone. Silver Bull’s drill program is ongoing with 3 rigs currently onsite. Please see http://www.silverbullresources.com for more information.
-------------------------------------------------------------------------
Hole ID From To Interval Ag g/t Zn % Comment
(m) (m) (m)
-------------------------------------------------------------------------
SECTION 631300
-------------------------------------------------------------------------
B11123* 123 158 35 24.09 0.1 Includes 3m@100g/t Ag &
5.35m@52.08g/t Ag
-------------------------------------------------------------------------
B11151* 101.9 207.7 105.8 35.10 0.50 Includes 16m@116.3g/t
Ag & 15m@64.8g/t Ag
-------------------------------------------------------------------------
SECTION 631350
-------------------------------------------------------------------------
B11128* 157.6 220 62.4 57.85 0.04 Includes 19.85m@89.9g/t Ag
-------------------------------------------------------------------------
SECTION 631400
-------------------------------------------------------------------------
B11125* 104.6 128.6 24 20.02 0.2
-------------------------------------------------------------------------
B11126* 106.4 215.25 108.85 54.16 0.03 Includes 70.25m@75.5g/t Ag
-------------------------------------------------------------------------
B11141* 126.05 235.45 109.4 51.80 0.03 Includes 38.95m@81.8g/t Ag
-------------------------------------------------------------------------
B12019 120.8 238.95 118.15 86.98 0.07 Includes 13.05m@283.89g/t
Ag & 21.5m@176.77g/t Ag
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Hole ID From To Interval Ag g/t Zn % Comment
(m) (m) (m)
-------------------------------------------------------------------------
SECTION 631450
-------------------------------------------------------------------------
B12018 142.7 163 20.3 93.80 0.03 Includes 4m@281.9g/t Ag
----------------------------------------------
231 238.85 7.85 100.39 0.07
-------------------------------------------------------------------------
SECTION 631500
-------------------------------------------------------------------------
B11130* 121.55 255 133.45 49.38 0.05 Includes 50.9m@86.1g/t Ag
-------------------------------------------------------------------------
B11131* 119.5 238.8 119.3 63.13 0.03 Includes 62m@86.8g/t Ag
-------------------------------------------------------------------------
B11133* 108.8 132 23.2 25.80 0.02
----------------------------------------------
178 240.6 62.6 41.00 0.05
-------------------------------------------------------------------------
B11158* 128 271.9 143.9 28.03 0.04 Includes 23m@68g/t Ag
-------------------------------------------------------------------------
B11167 180 254 74 16.84 0.02 Includes 10.25m@32.55g/t
Ag
-------------------------------------------------------------------------
B11169 173 211 38 17.00 0.01 Includes 12m@31g/t Ag
----------------------------------------------
241 248.65 7.65 24.51 0.02
-------------------------------------------------------------------------
B12010 212 224 12 21.36 0.09
------------------------------------------------
233 243.75 10.75 35.06 0.06
-------------------------------------------------------------------------
B12012 126 155.8 29.8 29.45 0.02 Includes 3.8m@106.88g/t
Ag & 15.8m@45.92g/t Ag
-------------------------------------------------------------------------
B12015 196.9 217.15 20.25 31.16 0.10 Includes 8m@42.2g/t Ag &
8.05m@43.28g/t Ag
----------------------------------------------
229 269.4 40.4 25.76 0.01
-------------------------------------------------------------------------
SECTION 631550
-------------------------------------------------------------------------
B11178 186.9 282 95.1 16.62 0.01
-------------------------------------------------------------------------
B12011 148.8 289.35 140.55 51.27 0.03 Includes 10m@417.64g/t Ag
-------------------------------------------------------------------------
SECTION 631600
-------------------------------------------------------------------------
B11135* 165 225.75 60.75 36.00 0.08 Includes 16.85m@57.6g/t
Ag
-----------------------------------------------
241.15 265.95 24.8 16.70 0.04
-------------------------------------------------------------------------
B11137* 173.2 279.3 106.1 25.40 0.20 Includes 11.25m@45.7g/t
Ag
-------------------------------------------------------------------------
209.7 215.6 5.9 18.91 0.02
-----------------------------------------------
B11183 249.65 264 14.35 23.82 0.01
-----------------------------------------------
292.65 300.85 8.2 18.12 0.01
-----------------------------------------------
SECTION 631700
-------------------------------------------------------------------------
B11138* 208 237 29 31.00 0.20
-------------------------------------------------------------------------
Gold and Silver Update By Peter Degraaf
* Monday, February 27, 2012
In 1980 gold topped out at $850.00. That bull market produced an increase of +2,276% from start to finish. The current rally in gold began in 2002 at $260.00 and has thus far risen +582%. By comparison this current bull market has the potential to rise much further.
In 1980 silver topped out at $50.00 after rising +3,100%. The current bull market in silver began at +/- 5.00 in 2003. It has thus far risen +600%. Silver also has the potential to rise much further.
Featured is the monthly gold chart. The uptrend is well defined within the blue channel. The supporting indicators A, B and C, are rising as well. Price is breaking out from beneath the resistance line. The last time this happened gold rose for almost three years. During that time the price doubled! A double from here takes gold to $3,500.00!
"The fear of hard times leads to inflating the money supply and inflating the money supply leads back to hard times." ...Ayn Rand.
This chart courtesy US Treasury and UBS shows the dramatic shift from US Treasury bills and bonds to gold bullion, on the part of China. This is a very bullish fundamental factor that is underpinning gold. "A trend in motion remains in motion until an outside event comes along to stop it." China needs gold as part of its plan to make the Yuan as dominant as the US dollar has been since 1944.
"Nations are not ruined by one act of violence, but gradually and almost imperceptibly by the depreciation of their currency, through excessive quantity" ... Nicolaus Copernicus 1525.
Featured is the index that measures gold against the 6 currencies that make up the US dollar index. This trend represents gold in foreign currencies. Notice price is breaking out at the blue arrow from a large pennant formation. Volume is confirming the breakout. This confirms that the bull market in gold is not limited to a lack of confidence in the US dollar. This is a worldwide bull market where the participants are showing a preference for gold over all fiat currencies.
"The fear which fires inflation is the desire to contract debts, and at the same time, avoid at least partial repayment of those debts: R. J. Rushdoony (from 'Roots of Inflation').
Featured is a 20 year glance at the index that compares crude oil to gold. Expressed in gold the price of oil (except for fluctuations above and below the average), is virtually unchanged. If you sold a small gold coin once a week or once a month, and used the proceeds to buy gasoline for your car, you would have been paying the same price, on average, for the past twenty years, and most likely longer than that.
"When governments and their central banks conspire to expropriate wealth from investors via their inflationary stealth taxes, the only way to come out ahead in this game, is to always be invested in whichever market happens to be in a secular bullish trend." .....Adam Hamilton.
Featured is a twenty year review of the index that compares crude oil to silver. The same principle that applies to oil/gold also applies to oil/silver. Does this reinforce the need to own some gold and silver coins?
Hyperinflation (inflation at +20%), during my lifetime: Argentina, Austria, Bolivia, Brazil, China, Croatia, Ecuador, France, Germany, Hungary, Indonesia, Iraq, Italy, Mexico, Mozambique, Peru, Poland, Romania, Russia, Turkey, Uruguay, Venezuela, Vietnam, Yugoslavia, Zaire, Zimbabwe. Do still think it won't happen here?
Featured is the weekly silver chart. Price is carving out a large flag. The supporting indicators are positive (green lines). A breakout at the blue arrow sets up a target at the green arrow.
"Silver in RFID chips (Radio Frequency Identification). Next generation RFID chips will feature a tiny antenna which will increase the range for scanning the chip from 5 meters to 15 meters. This silver will be in too small an amount to make it economically recoverable. The number of RFID chips will eventually be in the billions." ...David Morgan.
Happy trading!
http://www.safehaven.com/article/24515/gold-and-silver-update
George.
Click on "In reply to", for Authors past commentaries.
That gap is why I didn't go in heavy this last round as stated even before the run started.
The gap below needs to be tested which shows on 60 min charts.
Ok Fishpert, so, am I right in thinking this type of chart seems to take out some of the noise of a more "standard" chart?
Well, for GDX the top indicator just crossed below 100 and we got a red bar. With these settings you could wait for a second red bar to avoid whipsaw, then we would be officially on a sell signal. With CEF printing a third Doji I'd say it's a sell signal now. You sell NUGT and buy DUST in the morning on weakness in the metals.
AUMN does look like one to keep on a watching list but right now is not the time for me to get in.
The charts show the right time to get into a stock that is fundamentally attractive. The charts showed how the first week in Jan was a good time to enter and then get out for a breather in the first week of this month. The price would have risen from about 7.00 to 10.00. Since then volume has declined and MACDs are still red over blue.
However, it may not be very long at all until it's time to re-enter the fray.
China poised to pour $10bn into Zimbabwe's economy -
Zimbabwean government rejects concern that Beijing cash
could prop up Mugabe, and says investment can turn
economy around -
Miners dig in Marange, Zimbabwe, China is said to be
looking into investment in mining -
China is "looking into mining development, that is exploration
and exploitation, agriculture, infrastructure development -
China said recently its two-way trade with Africa had increased
by nearly 45% in a year to hit a record $114.8bn (£75bn).
Its investment in Zimbabwe has been growing steadily over
the last decade -
Chinese investors have snapped up commercial and residential
properties in Zimbabwe's capital, Harare, over the past few
years.
The influx of cheap Chinese goods, known locally as
"zhing-zhong", has caused widespread supplies -
A veteran former journalist, said: "China is just taking
advantage of a golden basket -
Will it take long before CALVF's;
Blanket Gold Mines -
to be listed on the Zimbabwe Stock Exchange ? -
As of March 2009, trade has been thin, but with China investors
influx and my more foreign investors willing to take on more
of the trading on the ZIM. STOCK EXCH. Market Mining Place -
Most stocks trade in the US-cent range, with at least 26
different stocks waiting on their turn.
--
BLANKET GOLD MINES -
Blanket's Gold Mines -
unaudited revenues and profit after tax for the year
to December 31, 2011 were US$56.6 million and US$19.2 million
respectively.
Mr Stefan Hayden, Caledonia's President and Chief Executive
officer said:
"I am pleased we have signed a MoU which, when fully
implemented, will represent the conclusion of the
indigenisation requirements for Blanket.
The transaction will be concluded for a value which is close
to Caledonia's current market capitalisation.
( Note
CALVF Total Current Market Cap: $55,060,421.--
[A subsidiary company;
Blanket Gold Mine 51% = US$30.09 million on the above
following basis:]
http://tmx.quotemedia.com/quote.php?qm_symbol=CAL ?)
This is a significant achievement in the current environment
and the transaction is neither an expropriation nor a partial
nationalisation.
Excellent progress has been made at Blanket in recent years:
gold production has increased by over 300% from 3,148oz in
the first quarter of 2010 to 10,533oz in the fourth quarter
of 2011 and cash operating costs fell by 27% from $804/oz
in the first quarter of 2010 to $583/oz in the third quarter
of 2011.
I hope that Blanket and Caledonia can now build on this track
record of success.
The indigenisation agreement, when fully implemented, will
introduce new shareholders to Blanket and I am confident
that their participation will enhance Blanket's further
growth and development.
We look forward to working with our new shareholders in
further progressing operations at Blanket for the benefit
of all stakeholders."
Caledonia Mining Corporation
Mark Learmonth
Tel: + 27 11 447 2499
marklearmonth@caledoniamining.com
Renmark Financial Communications Inc.
John Boidman: jboidman@renmarkfinancial.com
Nadia Marks: nmarks@renmarkfinancial.com
Tel.: (514) 939-3989 or (416) 644-2020
www.renmarkfinancial.com
Newgate Threadneedle Communications
Laurence Read, tel +44 207 653 9855
Beth Harris, tel +44 207 653 9853
Terry Garrett, tel +44 207 653 9845
Collins Stewart Europe Limited
John Prior / Sebastian Jones
Tel: + 44 20 7523 8350
Collins Stewart LLC
Dan Mintz
Tel: +1 212 389 8022
DMintz@collinsstewartllc.com
Further information regarding Caledonia's exploration activities
and operations along with its latest financials and Management
Discussion and Analysis may be found at
http://www.caledoniamining.com
Caledonia Mining Corporation (CALVF) Insider is big buyer -
Blanket Gold Mines Located In Many Green Gold Belts Goldfields
across Zimbabwe will provide plenty of GOLD for the PEOPLE involved -
http://canadianinsider.com/node/7?menu_tickersearch=CAL+%7C+Caledonia+Mining
Latest 10 SEDI filings (by transaction date) for CAL within the last 6 months [?]
Amended Filing
As of 11:59pm ET February 21st, 2012
Filing
Date Transaction
Date Insider Name Ownership
Type Securities Nature of transaction # or value acquired or disposed of Unit
Price
Jan 20/12 Jan 17/12 Inwentash, Sheldon Control or Direction Common Shares 10 -
Acquisition in the public market 242,000 $0.120
Jan 20/12 Jan 16/12 Inwentash, Sheldon Control or Direction Common Shares 10 -
Acquisition in the public market 252,000 $0.120
Jan 16/12 Jan 13/12 Inwentash, Sheldon Control or Direction Common Shares 10 -
Acquisition in the public market 107,500 $0.110
Jan 13/12 Jan 12/12 Inwentash, Sheldon Control or Direction Common Shares 10 -
Acquisition in the public market 148,500 $0.110
Jan 11/12 Jan 9/12 Inwentash, Sheldon Control or Direction Common Shares 10 -
Acquisition in the public market 150,000 $0.100
Jan 10/12 Jan 6/12 Inwentash, Sheldon Control or Direction Common Shares 10 -
Acquisition in the public market 600,000 $0.934
Dec 8/11 Dec 6/11 Inwentash, Sheldon Control or Direction Common Shares 10 -
Acquisition in the public market 12,500 $0.110
Dec 7/11 Dec 5/11 Inwentash, Sheldon Control or Direction Common Shares 10 -
Acquisition in the public market 35,000 $0.110
Dec 6/11 Dec 2/11 Inwentash, Sheldon Control or Direction Common Shares 10 -
Acquisition in the public market 148,500 $0.110
Dec 5/11 Dec 1/11 Inwentash, Sheldon Control or Direction Common Shares 10 -
Acquisition in the public market 33,000 $0.110
Sign up for an account or login above to see all SEDI filings within the past 6 months.
Caledonia Mining Corp. should start a buy back their own shares
program -
CALVF Long TEAM should e-mail to tell them BUY BACK CALVF
biggest global Gold producing strategic Au bargain -
to make it great for all LONG TEAM SHAREOLDERS!
Caledonia Mining Corporation -
E.g.,
Caledonia Has Striked A Compromise With Zimbabwe For Indigenisation? - CALVF Long Term GOLD MINES Developments
and GOLD Production Is Safety Assured -
history often repeat itself -
http://www.marketbust.com/2012/01/caledonia-mining-corporation-will.html
Caledonia signs Memorandum of Understanding with the Government
of Zimbabwe relating to the Indigenisation of
the Blanket Mine -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=72322960
Blanket Gold Mines Located In Many Green Gold
Belts Massive Large Goldfields
across Zimbabwe to assured CALVF GOLD Production and
will provide plenty of GOLD for the PEOPLE involved in
CALVF Blanket Gold Mines -
long after mugabe is gone -
http://www.caledoniamining.com/photos/4boxes.jpg
http://tmx.quotemedia.com/article.php?newsid=48600192&qm_symbol=CAL
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=72213549
God Bless
China refines its role in global gold market Feb 27th, 2012 -
08:35 by News 26-Feb (LA Times) —
A bit player only a decade ago, China has emerged as one of
the most important forces in the global gold market,
helping fuel the rising value of the precious metal.
Already the world’s largest producer — it overtook South Africa in 2007 —
China is now bedecking itself in bling.
It’s on track to become the globe’s largest consumer of gold
as early as this year, knocking off India — whose elaborate
wedding dowries kept it on top for years.
Some of China’s gold is going to its central bank as
the government quietly boosts reserves.
But the biggest driver is Chinese consumers.
They’re snapping up jewelry, coins and bars as a hedge
against inflation and to flaunt their rising wealth.
…Chinese demand reached nearly 770 metric tons last year,
up 20% from the year before, according to the World Gold
Council in London.
Desire for the yellow metal is so strong that China is buying
record amounts from abroad because its mines can’t keep pace.
China imported more gold than India in the fourth quarter of 2011.
http://www.latimes.com/business/la-fi-china-gold-20120227,0,5890215,full.story
China's government is suspected of quietly stockpiling more gold
to diversify its $3.2-trillion holdings of foreign reserves
and reduce its reliance on the U.S. dollar.
China rarely discloses its purchases. But it's assumed the
central bank holds a little more than 1,000 metric tons of gold
— still a small fraction of government holdings in
the U.S. and Eurozone.
Add in strong demand from gold-crazy consumers and "it's safe to
say demand still has a long way to go in China," said Clark
at Casey Research.
That's created a huge opportunity for retailers. Hong Kong's Chow Tai Fook plans to open 2,000 stores in China. The luxury brand already boasts revenue greater than Tiffany & Co. and raised $2 billion in an initial stock offering in Hong Kong in December.
But no gold merchant is better known in Beijing than Caishikou,
whose core customers are working-class Chinese.
Formerly a traditional department store selling clothes and
other goods, Caishikou now specializes in gold.
It sells a dazzling array of ornaments and jewelry at prices
that range from $63 chains to an elaborately detailed $135,000
dragon encased in glass. Everything is 24 karat,
a prerequisite for Chinese buyers.
Fighting her way through the aisles recently was Li Jinfeng,
a 45-year-old chicken farmer who had traveled from neighboring
Hebei province to buy jewelry for her daughter's dowry.
Business has been good, and Li didn't think twice about
tapping her savings.
"In the old days, only the rich people in my village could have
gold," said Li, whose pierced ears were adorned with
flower-shaped gold earrings.
Nearby, Li Lei, a 49-year-old retiree, was picking out a pair
of bright gold rings to give her parents on their
50th wedding anniversary.
"I feel obliged to buy something nice for them," Li said.
"Money may lose its value, but gold will not."
Caledonia signs Memorandum of Understanding with the Government
of Zimbabwe relating to the Indigenisation of
the Blanket Mine -
TORONTO, Feb. 20, 2012 /CNW Telbec/ -
Caledonia Mining Corporation -
("Caledonia") (TSX: CAL) (NASDAQ-OTCQX: CALVF) (AIM: CMCL)
announces it has signed a Memorandum of Understanding ("MoU")
with the Minister of Youth, Development, Indigenisation and
Empowerment of the Government of Zimbabwe (the "Government
of Zimbabwe") pursuant to which Caledonia has agreed to sell
51% of the Blanket Mine in Zimbabwe ("Blanket") to Indigenous
Zimbabweans for a paid transactional value of
US$30.09 million on the following basis:
16% will be sold to the National Indigenisation and Economic
Empowerment Fund;
10% will be sold to a Management and Employee Trust for the
benefit of the present and future managers and employees of
Blanket;
15% will be sold to identified Indigenous Zimbabweans;
and
10% will be donated to the Blanket Gwanda Community Trust.
Caledonia will also make a non-refundable donation of US$1.0
million to the Trust as soon as it has been established.
Caledonia will facilitate the vendor funding of these
transactions which will be repaid by way of future dividends
from Blanket.
Caledonia expects to redeploy the sale consideration in its
projects.
Caledonia has undertaken to complete the implementation of all
the components of the indigenisation transaction as soon
as possible.
The Government of Zimbabwe has agreed that implementation of
the terms of the MoU will constitute full compliance by
Blanket and Caledonia with the requirements of
the Indigenisation Act.
Further details of the MoU are subject to a confidentiality
agreement, and further announcements will be made when
appropriate.
Blanket's unaudited revenues and profit after tax for the year
to December 31, 2011 were US$56.6 million and US$19.2 million
respectively.
Mr Stefan Hayden, Caledonia's President and Chief Executive
officer said:
"I am pleased we have signed a MoU which, when fully
implemented, will represent the conclusion of the
indigenisation requirements for Blanket.
The transaction will be concluded for a value which is close
to Caledonia's current market capitalisation.
( Note
CALVF Total Current Market Cap: $55,060,421.--
[A subsidiary company;
Blanket Gold Mine 51% = US$30.09 million on the above
following basis:]
http://tmx.quotemedia.com/quote.php?qm_symbol=CAL ?)
This is a significant achievement in the current environment
and the transaction is neither an expropriation nor a partial
nationalisation.
Excellent progress has been made at Blanket in recent years:
gold production has increased by over 300% from 3,148oz in
the first quarter of 2010 to 10,533oz in the fourth quarter
of 2011 and cash operating costs fell by 27% from $804/oz
in the first quarter of 2010 to $583/oz in the third quarter
of 2011.
I hope that Blanket and Caledonia can now build on this track
record of success.
The indigenisation agreement, when fully implemented, will
introduce new shareholders to Blanket and I am confident
that their participation will enhance Blanket's further
growth and development.
We look forward to working with our new shareholders in
further progressing operations at Blanket for the benefit
of all stakeholders."
Caledonia Mining Corporation
Mark Learmonth
Tel: + 27 11 447 2499
marklearmonth@caledoniamining.com
Renmark Financial Communications Inc.
John Boidman: jboidman@renmarkfinancial.com
Nadia Marks: nmarks@renmarkfinancial.com
Tel.: (514) 939-3989 or (416) 644-2020
www.renmarkfinancial.com
Newgate Threadneedle Communications
Laurence Read, tel +44 207 653 9855
Beth Harris, tel +44 207 653 9853
Terry Garrett, tel +44 207 653 9845
Collins Stewart Europe Limited
John Prior / Sebastian Jones
Tel: + 44 20 7523 8350
Collins Stewart LLC
Dan Mintz
Tel: +1 212 389 8022
DMintz@collinsstewartllc.com
Further information regarding Caledonia's exploration activities
and operations along with its latest financials and Management
Discussion and Analysis may be found at
http://www.caledoniamining.com
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=72413720
http://www.caledoniamining.com/photos/4boxes.jpg
http://tmx.quotemedia.com/article.php?newsid=48600192&qm_symbol=CAL
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=72213549
God Bless
Evolving Gold Announces Sale of Prosperity Goldfields Shares
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 27, 2012) - Evolving Gold Corp. (TSX:EVG.TO - News), (OTCQX:EVOGF.PK - News), (FRANKFURT:EV7.F - News) ("Evolving Gold" or the "Company") is pleased to announce it has reached agreements to sell a portion of its interest in Prosperity Goldfields Corp. ("Prosperity") to certain purchasers for aggregate gross proceeds of $4,000,000. Certain of the purchasers are or will become insiders of Prosperity.
The sale involves approximately two-thirds of the Company's current holdings of 11,933,563 common shares of Prosperity and 5,000,000 warrants, each warrant exercisable to acquire one common share of Prosperity at a price of $0.25 until November 5, 2012.
"The sale of a portion of its Prosperity interest allows Evolving Gold to fund drill-intensive exploration of its Carlin-Humboldt project in the prolific Carlin trend of northern Nevada, whilst maintaining meaningful exposure to the upside potential at Prosperity, without creating unnecessary shareholder dilution in the context of the current capital markets", stated R. Bruce Duncan, the CEO of the Company.
The initial closing of the transaction is anticipated to occur on or about March 7, 2012 with a subsequent closing anticipated concurrent with the amalgamation (the "Amalgamation") of Smash Minerals Corp. and Prosperity originally announced by the parties on January 5, 2012, subject to receipt of any required regulatory approvals. The Company will file a notice of intention to distribute securities with the relevant securities regulators in due course.
Evolving Gold also announces it has entered into a lock-up agreement in support of the Amalgamation.
Evolving Gold also announces that Dr. Quinton Hennigh has been appointed to the technical Advisory Board of the Company. Dr. Hennigh, previously President and Chief Geologist of the Company, was heavily involved in the development of the Carlin-Humboldt exploration targets and has been a strong supporter of a focused, intensive deep drilling program on the Company's extensive land position in the south end of the prolific Carlin Trend gold system.
About Evolving Gold Corp.
Evolving Gold is focused on exploring its gold properties in and adjacent to the productive Carlin district of northern Nevada, and on advancing its gold discovery at Rattlesnake Hills, Wyoming. For more information about Evolving Gold please visit: http://www.evolvinggold.com.
On Behalf of the Board of Directors
EVOLVING GOLD CORP.
R. Bruce Duncan,
CEO and Director
Contact:
Rory Quinn
Evolving Gold Corp.
Investor Relations
604.630.0792
866.604.3864 (FAX)
rory@evolvinggold.com
http://finance.yahoo.com/news/Evolving-Gold-Announces-Sale-ccn-1993026630.html?x=0
Ummm, I have no idea what I'm looking at with that one Fishpert LOL
Technical Weekly Precious Metals Report
* Monday, February 27, 2012
Gold
Weekly Report
> See Charts
Gold is still stable above the top of (C) point of the double harmonic structure, where according to the harmonic analysis rules, consolidation above this level, which represents 1763.00, could trigger more bullishness in attempts to retest the level of 1794.00 and then 1828.00 in case the metal breached the first level. The ascending support shown above in pink must remain intact in order to negate the negativity seen on momentum indicators.
The trading range for this week is among the key support at 1724.00 and key resistance now at 1828.00.
The short-term trend is to the upside with steady weekly closing above 1475.00 targeting 1945.00.
Silver
Weekly Report
> See Charts
Silver attempts to confirm the breach of the descending main resistance level shown above, where this resistance started at the top of 49.83. The suggested breach depends on the effect of the bullish Bat harmonic pattern, where the metal is stable now around the target of 127.2% Fibonacci of the CD leg; however, the upside move is still available. Therefore, a breach of 35.75 and consolidation above it, could support silver to extend the upside move, targeting 161.8% Fibonacci at 38.30-35.
The trading range for this week is among the key support at 32.80 and key resistance now at 38.35.
The short-term trend is to the downside with steady weekly closing below 38.00 targeting 20.05.
http://ecpulse.com/en/dailyreports/technicalpreciousmetals/2012/02/27/06-16-38/index.htm
George.
Click on "In reply to", for Authors past commentaries.
From IncaKola News....
It's the weekend again, so here we are with the last five days' worth of action in the gold bullion ETF (GLD), the silver bullion ETF (SLV), the miner ETF (GDX), the junior miner ETF (GDXJ) and the copper ETF (COPX)
1) Silver wins
2) The others did pretty well, too.
3) The end
What are those chart settings?
Gold and Silver COT Reports - Futures By Harvey Organ
* Saturday, February 25, 2012
Dexia bank/Deutsche Bank/Greece/Silver and Gold Standings at the Comex/ Iran
Let now head over to the COT report and see how the players line up this week:
First the Gold COT:
Our large specs that have been long in gold added a monstrous 14,011 contracts to their longs taking on the bankers.
Our large specs that have been short in gold added a very tiny 470 contracts to their shorts.
Our commercials;
Those commercials who are long in gold and are close to the physical scene covered a very tiny 814 contracts from their long side.
Those commercials who have been short from the beginning of time and are the prime manipulators in gold, added a super humongous 19,080 contracts to their short side.
Our small specs:
The small specs that have been long in gold added a huge 7,127 contracts to their long side as these guys joined their smarter and wealthier cousins the long specs in the pursuit of gold.
Those small specs that have been short in gold added a small 774 contracts to their short side.
Conclusion: the large and small specs piled into gold and our banker friends supplied huge amounts of non backed paper gold. This COT report is from Tuesday the 14th to the 21st of February. The attempted raids on Thursday and Friday were orchestrated due to the massive buildup of long positions by our specs. It had nil effect. The bankers retreated to higher ground and will attack again.
Now our silver COT
Large Specs:
Those large specs that have been long in silver added a rather large 1,959 contracts to their long side.
Those large specs that have been short in silver added a fair 962 contracts to their short side.
Our commercials:
Those commercials that have been long in silver and are close to the physical scene added
a tiny 308 contracts to their long side.
Those commercials that have been short in silver and subject to the silver probe, added a good sized 2186 contracts to their short side.
Our small specs;
Those small specs that have been long in silver added a rather large for them 1,270 contracts.
The small specs that have been short in silver added another 389 contracts to their short side.
Conclusion: the large specs certainly entered the arena but the bankers did not supply too much of the paper silver. They allowed the price to rise and thus the bankers retreated to higher ground. They will try again to attack next week.
http://harveyorgan.blogspot.com/2012/02/dexia-bankdeutsche-bankgreecesilver-and.html
George.
Click on "In reply to", for Authors past commentaries.
"Golden Minerals Company the company has enormous growth potential , and I believe the kind of values these shares reached in 2010 can be reached again and that a liftoff may well be just getting underway now. . .the acquisition of this property by this management team that is highly competent in mine operations has enabled the company to generate positive cash flows from which to develop its very strong portfolio of mining projects."
"This morning Golden Minerals Company announced excellent news. Its Q411 production far exceed guidance. . .I think this news is likely the company's turning point since the brutal sell off last year. I've followed the company for a long time; the management team has a lot of experience in operating mines. This shows that they are finally turning the mine around. I read a report on silver mining, and Golden Minerals right now is probably one of the most undervalued silver producers in term of silver ounces in the ground."
Why India's Demand For Gold Jewelry Plummeted 44% Last Quarter
the weakness in the Indian economy kept consumers at bay.
<That's called deflation.>
The outlook for the start of 2012 isn't much better. The Indian cabinet recently approved a bill that makes hallmarking gold mandatory and signaled a potential increase in the import tax on gold, both of which will require both traders and consumers to adapt some more.
http://www.businessinsider.com/indian-gold-demand-falls-44-percent-2012-2?nr_email_referer=1&utm_source=Triggermail&utm_medium=email&utm_term=Money%20Game%20Select&utm_campaign=MoneyGame%20Select%202012-02-25#ixzz1nIfZnzUw
Evolving Gold Expands the Epithermal Gold System at the Jake Creek Project, Nevada
VANCOUVER, Feb. 24, 2012 /PRNewswire/ - Evolving Gold Corp. (TSX: EVG.TO - News) (OTCQX: EVOGF.PK - News) (FSE: EV7.F - News) (the "Company") is pleased to announce that the 2011 drill program at its 100% owned Jake Creek gold property in Nevada expanded the size of the gold system. Intersections included 39.6m of 0.873 g/t Au, and 19.8m of 0.676 g/t Au, including 1.5m of 3.1 g/t Au.
Summary of Results:
The 2011 Jake Creek reverse-circulation (RC) drilling program included 3,580.8 meters of drilling in eleven holes. The eleven holes stepped outward to the west and east from drill hole JC-005, a 2010 drill hole that intersected 28.9m of 1.33 g/t gold and included a 1.5m interval of 11.3 g/t gold from 236.2 - 237.7 meters (release November 18, 2010). Results of the eleven-hole program are as follows:
•Drill-hole intersections include: 39.6m of 0.873 g/t gold in JC-002, 19.8m of 0.676 g/t gold in JC-006, 1.5m of 3.1 g/t gold within 16.7m of 0.605 g/t gold in JC-013.
•Drilling successfully outlined an epithermal, volcanic-hosted gold system containing sub-horizontal and laterally extensive low-grade gold mineralization. Gold mineralization includes locally banded epithermal veins and gold in quartz-stockwork zones up to 11.3 g/t.
•Drilling indicates that the gold system exceeds 550 meters wide east-west and remains open to the north, south and east.
•JC-013, the most easterly drill hole, confirmed the presence of multiple zones of epithermal veins with banded quartz and sooty pyrite, as well as sulfidized basalt dikes.
•Gold mineralization is hosted in bleached, clay altered and silicified tuff above Paleozoic siliciclastic rocks. Gold-bearing zones contain elevated concentrations of arsenic, selenium, antimony, mercury and silver, typical of other well-documented epithermal, volcanic-hosted gold systems.
"We are excited to have identified another large, blind gold system in Nevada, between the large Twin Creeks and Getchell deposits to the west, and the Midas district to the east," says Steve Koehler, Chief Geologist for the Company. "We have just begun to explore this exciting system. The strong alteration, multiple zones of epithermal, banded quartz and sooty pyrite veins, along with extensive gold mineralization is all very encouraging in a system which remains wide open for expansion. We believe the Jake Creek gold target has great potential and look forward to further drilling on this project."
Jake Creek 2011 Drill Hole Results
Drill Hole TD Az/Inc Interval Grade g/t Depth (m) Interval Grade Depth (ft)
(ft) (m) Au (ft) oz/t Au
JC-002* 1020 270/-60 39.6 0.873 256.1-295.7 120 0.027 850-970
JC-003* 1300 033/-60 1.5 0.393 309.4-310.9 5 0.011 1015-1020
JC-004 765 090/-60 4.6 0.319 227.1-231.7 15 0.009 745-760
JC-006* 1030 090/-60 19.8 0.676 221.0-240.8 65 0.020 725-790
3.1 0.620 271.3-274.4 10 0.018 890-900
JC-007 800 090/-60 3.1 0.351 207.2-210.3 10 0.010 680-690
JC-008 1100 090/-60 12.2 0.412 250.0-262.2 40 0.012 820-860
12.2 0.930 268.2-280.4 40 0.027 880-920
JC-009 1230 059/-65 1.5 0.373 185.9-187.4 5 0.011 610-615
JC-010 1200 100/-45 3.1 0.412 283.5-286.6 10 0.012 930-940
JC-011 880 095/-50 1.5 0.618 160.0-161.5 5 0.018 525-530
7.6 0.550 181.4-189.0 25 0.016 595-620
JC-012 1040 065/-65 6.1 0.344 161.6-167.7 20 0.010 530-550
6.1 0.371 172.3-178.4 20 0.011 565-585
JC-013 1380 090/-60 16.7 0.605 321.6-338.3 55 0.018 1055-1110
Includes 1.5 3.10 323.1-324.6 5 0.090 1060-1065
1.5 0.351 5 0.010 1130-1135
The Ord Oracle By Tim Ord
* Wednesday, February 22, 2012
For 30 to 90 days horizons SPX: Sold SPX on 12/29/11 at 1263.02 for gain of 1.75%; long 1241.30 on 12/20/11.
Monitoring purposes GOLD: Gold ETF GLD long at 173.59 on 9/21/11
Long Term Trend monitor purposes: Flat
Today GDX ran into the down gap on February 3 near 57 on lighter volume and suggests the gap has resistance. Support on GDX comes in near 55 range which is also near a 50% retracement. What may be developing here is a Head and Shoulder bottom where the Head is February 16 low. A pull back to 55 range would form the Right Shoulder. This potential Head and Shoulder bottom would have a measurement to 61 range which is the lower end of our target area. The intermediate term uptrend remains in tact and a target to 61 – 64 range is feasible on this run.
Above is the daily chart of GLD which is the ETF for Gold. In late January a “Sign of Strength” (SOS) appeared through the red downtrend line connecting the highs back to mid August and suggest a valid break through that trend line. The January rally also tested the early December high on equal volume and suggested the December high will be exceeded ( which is happening now). The pattern that formed the first three weeks of February was a “Flag”. The breakout of this “Flag” pattern came yesterday and the upper boundary of this “Flag” is now support which comes in near 168 range. Most “Flag patterns” form at the half way point of the move and would give a target for the next high near 187, which is also near the September 2011 high and could act as resistance. The trend appears up with short term support near 168 range.
Long GDX 58.65 on 12/6/11. Long SLV at 29.48 on 10/20/11. Long GDXJ at 36.24 on 9/21/11. Long GLD at 173.59 on 9/21/11. Long BRD at 1.67 on 8/3/11. Long YNGFF .44 on 7/6/11. Long EGI at 2.16, on 6/30/11. Long GLD at 147.14 on 6/29/11; stop 170 hit = gain 15.5% . Long KBX at 1.13 on 11/9/10. Long LODE at 2.85 on 1/21/11. Long UEXCF at 2.07 on 1/5/11. We will hold as our core position in AUQ, CDE and KGC because in the longer term view these issues will head much higher. Holding CDE (average long at 27.7. Long cryxf at 1.82 on 2/5/08. KGC long at 6.07. Long AUQ average of 8.25. For examples in how "Ord-Volume" works, visit www.ord-oracle.com.
http://www.decisionpoint.com/TAC/ORD.html
George.
Click on "In reply to", for Authors past commentaries.
Silver Bull Resources - Aggressive Exploration in the Sierra Mojada, Mexico
February 23, 2012
Overview
Silver Bull Resources Inc. (TSX:SVB, NYSE AMEX:SVBL) is a Vancouver, British Columbia based mineral exploration and development company. The Company’s prime asset is the Sierra Mojada Project located in the State of Coahuila, North Mexico.
The Company has been developing on the property since 2010 after a merger between Metalline Mining and Dome Ventures Corporation. The company has over 80,000 meters of historical drilling on the Sierra Mojada project todate and has an aggressive exploration program with 50,000 meters of drilling planned for 2012; four drills are currently working on site.
Investment Highlights
>62Moz indicated + inferred open pittable silver resource already defined
* Near term, low risk expansion via step out drilling to existing deposit
* Potential for high grade primary high grade silver + zinc + lead mineralization
* New Resource Report on the Silver and Zinc expected in Q2 of 2012
Known stand alone high grade zinc bodies
* Two high grade zinc oxide bodies, historically mined as direct ship ore (+25%)
* Accessible via underground workings, minimal work for compliant resource
Excellent infrastructure
* Located next to an operating mine with road, rail, power and water to site
* Strong Community Support
Located in Mexico (2nd largest silver producer in the world)
* Mining friendly, no govt royalties, 30% tax
Unknown story
* Very undervalued versus peer group
* Re-rating potential
Key Projects
Sierra Mojada Project
The Sierra Mojada project lies within a historical high grade silver, lead, zinc mining district first discovered in 1879. The main zone of mineralization at Sierra Mojada extends along the base of the Sierra Mojada Range in an east-west direction and is largely at surface. Over 54 historical mine shafts lie along this strike, mining to depths in-excess of 200 meters.
click to zoom
About the Mineralization: The silver and zinc mineralization seen at Sierra Mojada defined is seen as “oxides” and is hosted along the east-west trending Sierra Mojada Fault. The silver mineralization is contained in two main bodies; the “Shallow Silver Zone”, and the recently discovered “Centenario Zone”.
The Shallow Silver Zone is hosted within an “upper” dolomite unit along a 3.2 km strike and is up to 90 meters thick and 200 meters wide and sits at surface at the western end. A NI43-101 resource update released in October 2011 shows a resource of 47.3 million ounces silver in the indicated category and 13.8 million ounces silver in the inferred category with an average grade of 50g/t.
Since the release of the resource report in October 2011 drilling has revealed a new zone of silver mineralization called the “Centenario Zone” which lies just to the north of the Shallow Silver Zone along a parallel fault zone. It is hosted within a stratagraphically “lower” dolomite unit has a present strike length of 400 meters and averages +100 meter intercepts at >60g/t Silver.
click to zoom
In addition to the silver, a significant body of zinc oxide mineralization lies underneath and adjacent to the silver mineralization, and is coincident with the eastern half of the Shallow Silver Zone. The zinc mineralization is composed largely of the minerals hemimorphite and lesser smithsonite and forms a tabular body hosted mostly within the upper dolomite along the east-west trending Sierra Mojada fault. Extensive historical drilling and underground sampling shows a high grade core of mineralization >10% zinc sitting within a lower grade halo >4% zinc.
click to zoom
The combined strike of the mineralization defined to date measures 3.8km in length and is potentially open pittable. Mineralization remains open in all directions.
NI43-101 Resource Update: A new NI43-101 resource update is anticipated to be prepared by SRK Consulting (Canada) Inc. “SRK” in Q2 of 2012. All available data up to 28 February 2012 will be given to SRK for inclusion in the report. Given the drilling results to date it is anticipated that SRK’s next report will show a substantial increase in the silver resource at Sierra Mojada, as well as including a resource for the significant zinc mineralization seen on the project.
click to zoom
click to zoom
Figure 1. Section 631500E showing the “Centenario Zone”, “Shallow Silver Zone”, and “White and Red Zinc Zones”
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Figure 2. Section 631500E showing the “Centenario Zone”, “Shallow Silver Zone”, and “White and Red Zinc Zones”
Summary
Silver Bull Resources, Inc. is a well-funded Canadian based mineral exploration company listed on both the New York AMEX and full Toronto stock exchange. Silver Bull features world class management and geologic teams with a proven track record of mineral property development. The Sierra Mojada project currently has a NI 43-101 indicated resource of 47.3 million ounces silver in the indicated category and 13.8 million ounces silver in the inferred category and has an aggressive 50,000 meter drill program to expand the resource. An updated resource report is expected in Q2 of 2012 and will include both the silver and the zinc.
Management
Tim Barry, CEO, President and Director
Tim Barry is the President and CEO of Silver Bull Resources, Inc. Between September 2010 to March 2011, Mr. Barry served as Vice President of Exploration for Metalline Mining (now renamed to Silver Bull Resources), before stepping into the role of President and CEO in April 2011. Previously, he held the position of Chief Geologist for Dome Ventures Corporation, a publicly traded company on the Toronto Stock Exchange working on their projects in Africa.
Mr. Barry has over 15 years of exploration and management experience and has worked as a Consulting Geologist and manager on projects in Canada, Mexico, Australia, New Zealand, Mongolia and West and Central Africa. Mr. Barry also served as a Director for Dome Ventures Corporation between November 2008 to April 2010 and currently serves as a director for Acme Resources. Mr. Barry is a Registered Geologist (MAusIMM). Mr. Barry holds a BSc in Geology from the University of Otago in New Zealand.
Brian Edgar, Chairman of the Board
Mr. Edgar was appointed Chairman of the Board of Directors in April 2010. Mr. Edgar has broad experience working in junior and mid-size level natural resource companies. He previously served as Dome’s President and Chief Executive Officer from February 2005 until it was acquired by Metalline in April 2010. Further, Mr. Edgar served on Dome’s Board of Directors from 1998 to 2010.
Mr. Edgar currently serves as a director of BlackPearl Resources Inc., Denison Mines Corp., Lucara Diamond Corp., Lundin Mining Corporation, and ShaMaran Petroleum Corp. Prior to establishing Rand Edgar Capital Corp. (succeeded by Rand Edgar Investment Corp.), Mr. Edgar practiced corporate/securities law in Vancouver, British Columbia, Canada for sixteen years.
Sean Fallis, Chief Financial Officer
Mr. Fallis is a Chartered Accountant and was formerly the corporate controller of gold producer Rusoro Mining Ltd. Prior to Rusoro Mining Ltd. Mr. Fallis worked with Canadian and United States publicly listed companies in the audit and assurance practice of PricewaterhouseCoopers where Mr. Fallis focused on clients in the mining industry. Mr. Fallis experience includes mergers and acquisitions, debt and equity financing and overseeing the financial reporting and regulatory compliance of international mining companies including subsidiaries based in Latin America.
Jason Cunliffe, Vice President of Exploration
Mr. Cunliffe has over 16 years experience working throughout South and Central America exploring mainly for precious metals. He has held a number of senior management positions including; the South American Exploration Manager for Hochschild Mining plc. and Underworld Resources. During this time he has been involved in the discovery and advancement of a number of projects including the San José gold-silver vein deposit for Hochschild.
Mr. Cunliffe is familiar with Mexican geology having worked in the country previously. Mr. Cunliffe has a Masters degree in Mineral Exploration and Mining Geology from Leicester University in the United Kingdom and is fluent in English and Spanish.
Murray Hitzman, Director
Dr. Hitzman has extensive experience in the mining sector and began work in the mining industry with Anaconda Copper Mining Company. He worked for Chevron Resources Company and initiated and managed base and precious metal exploration projects throughout the world. As the Executive Branch Fellow he served as a senior policy analyst in the White House Office of Science and Technology Policy specializing in natural resource, environmental, and geoscience issues.
Dr. Hitzman became a professor at the Colorado School of Mines, and in 2000 was named Head of the Department of Geology and Geological Engineering (he stepped down as such in August, 2007). Dr. Hitzman serves as a director of several publicly held companies. Dr. Hitzman has a Master of Science in Geology from the University of Washington and a Ph.D. in Geology from Stanford University, California.
Daniel Kunz, Director
Mr. Kunz, Boise, Idaho, has over 30 years of experience in all areas of engineering, management, accounting, finance and operations. Mr. Kunz holds a Masters of Business Administration, Bachelor of Science in Engineering Science and an Associate of Accounting degree. Mr. Kunz has held positions in Ivanhoe Mines (President), MK Gold Company (President & CEO) and Morrison Knudsen Corporation (Vice President & Controller, and as CFO to the Mining Group).
Joshua Crumb, Director
Mr. Crumb is an engineer and mineral economist with a wide range of executive experience in the mining industry. He is a co-founder of LEC Minerals Inc., a private investment corporation that also provides advisory services for mining and exploration companies. Mr. Crumb was formerly the Senior Metals Strategist at Goldman Sachs, working in the commodity research division in London, has held various positions within the Lundin group of companies, and is currently serving as an independent director of Astur Gold Corp., Zazu Metals Corp., and Natural Resource Holdings, Ltd. He holds a Bachelor of Science degree in Engineering and Master of Science in Mineral Economics from the Colorado School of Mines.
John McClintock, Director
Mr. McClintock has vast experience in all facets of the mineral exploration business. He currently serves as the President of McClintock Geological Management, which provides ongoing management services to NorthIsle Copper and Gold Inc. and Savant Explorations Ltd. From February 2007 to November 2008, Mr. McClintock served as President and CEO of Savant Explorations Ltd. From January 2006 to February 2007, he served as President and COO of Canarc Resource Corp., and from November 2004 to December 2005 he served as an Exploration Manager for BHP Billiton. Mr. McClintock holds an MBA from Simon Fraser University and an undergraduate degree in geology, with honors, from the University of British Columbia. He is a member of the Professional Engineers of British Columbia, the Prospectors and Developers Association of British Columbia, and the Association of Mineral Exploration of British Columbia.
http://silverinvestingnews.com/10683/silver-bull-resources-aggressive-exploration-in-the-sierra-mojada-mexico.html
Sprott Physical Silver Trust confirms final delivery of silver bullion purchases
SPROTT PHYSICAL SILVER TRUST
RELATED QUOTES
Symbol Price Change
PSLV 15.12 +0.33
TORONTO, Feb. 22, 2012 /CNW/ - Sprott Asset Management LP ("Sprott") is pleased to provide investors with an update on the status of the silver bullion purchased by the Sprott Physical Silver Trust (NYSE ARCA: PSLV) (TSX: PHS-U.TO - News) ("Trust") through the follow-on offering of Trust Units that was completed on January 23, 2012.
The Trust has now successfully received physical delivery of the silver bars purchased through the follow-on offering. The Trust's silver holdings now total approximately 32,878,296 silver ounces in bullion bar form. The silver bars are currently being processed into inventory by the custodian of the Trust. Once the inventory process has been completed, a list of all bars held by the Trust will be published on its website: www.sprottphysicalsilver.com.
Additional detail on the Trust can be found in the final prospectus available on EDGAR (http://www.sec.gov/) and SEDAR (www.sedar.com) or on the Trust's website at www.sprottphysicalsilver.com.
About Sprott Asset Management LP
Sprott Asset Management LP (www.sprott.com), a wholly owned subsidiary of Sprott Inc. (www.sprottinc.com) is a fund company dedicated to achieving superior returns for its investors over time. SAM manages assets primarily for institutions, endowments and high net worth individuals. Sprott Asset Management LP is the investment manager of the Sprott Funds. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual Funds are not guaranteed, their values change frequently and past performance may not be repeated. The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors should consult their financial advisor to determine if these Funds may be sold in their jurisdiction.
Contacts
Investor contact information:
Telephone: (416) 203-2310
Toll Free: 1 (877) 403-2310
Email: ir@sprott.com
http://finance.yahoo.com/news/Sprott-Physical-Silver-Trust-cnw-2277163831.html?x=0
India silver imports may top 5,000 tons in 2012
Submitted by cpowell on Thu, 2012-02-23 04:54.
By Debiprasad Nayak
The Wall Street Journal
Tuesday, February 21, 2012
http://online.wsj.com/article/SB1000142405297020335870457723674054718779...
MUMBAI -- India's silver imports may top 5,000 metric tons in 2012 due to strong investment demand, Prithviraj Kothari, the president of the Bombay Bullion Association, said Tuesday. The country imported around 4,800 tons of silver last year, he said.
"Silver demand is expected to rise on firm industrial and investment demand," he told reporters on the sidelines of a conference.
Though demand for silver may not pick up in the next few weeks as returns from debt instruments are better than that from silver, investment interest in the white metal is expected to grow as and when the country's central bank starts lowering lending rates, Mr. Kothari said.
Such a move is expected to boost an economic recovery and, in turn, silver usage as the precious metal finds as much application in industrial goods as in jewelry, coins and artefacts.
Consumer interest in the precious metal is lukewarm because the current price of around 56,000 rupees ($1,140.5)/kilogram is seen as high.
"Demand from ordinary consumers will only improve if the price of the metal falls to 48,000 rupees-52,000 rupees/kg," Mr. Kothari said.
Separately, he said local gold prices are likely to trade in a 26,000 rupees-35,000 rupees/10 gram range in 2012 because of the yellow metal's safe haven appeal.
"The ongoing debt crisis in Europe and the Iran issue are likely to keep gold prices firm," he said.
Traditionally, investors prefer to lock away more of their wealth in gold during times of uncertainty.
Mr. Kothari also said that investment interest in Gold Exchange Traded Funds will continue to grow in the world's largest gold consumer, though the volumes will be dominated by physical gold sales for years.
"Still, there is some shift from jewelry demand to the exchange traded funds due to better returns," he said at the launch of a new gold ETF by the Motilal Oswal Asset Management Co.
As many as 13 gold ETFs have been launched over the past five years in India as suave urban investors are realizing that it is a better investment instrument than jewelry.
Gold has given higher returns than any other asset in a year, although the price rise has begun to taper off in the past few days. At the end of January, gold prices had jumped 40% from a year earlier while the Bombay Stock Exchange's benchmark 30-share Sensex had fallen 6% during the same period.
http://online.wsj.com/article/SB10001424052970203358704577236740547187790.html
Moneta Porcupine Mines Announces $5 Million Bought Deal Financing -
TIMMINS, ONTARIO--(Marketwire - Feb. 23, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
(figures in Canadian dollars)
Moneta Porcupine Mines Inc.
(TSX:ME)(OTC:MPUCF)(XETRA:MOP) (the "Company") announces
that it has entered into an agreement with a syndicate of
underwriters (the "Underwriters"), led by
Stonecap Securities Inc., whereby the Underwriters have
agreed to purchase, on a bought deal basis,
14,300,000 common shares (the "Common Shares") from
treasury of the Company at a purchase price of
$0.35 per Common Share (the "Issue Price") for gross
proceeds of $5,005,000 (the "Offering").
The net proceeds of the Offering will be used for exploration
at the Company's
Golden Highway project, working capital and
general corporate purposes.
The Offering will be made by way of private placement to
accredited investors in all provinces of Canada.
The Offering is expected to close on or about March 20, 2012,
and is subject to certain conditions including, but not
limited to, the receipt of all necessary approvals including
the approval of the Toronto Stock Exchange and the relevant
securities regulatory authorities. The Common Shares will
be subject to a four-month hold period.
About Moneta
Moneta holds a 100% interest in 5 core projects strategically
located along the Destor Porcupine Fault Zone in the world
class Timmins Camp with excellent infrastructure including
access roads, water, electricity, and mills.
The land position is one of the largest -
after three gold producers - including the highly prospective
Golden Highway Project which contains an Indicated resource
of 1.07 million ounces gold (NI 43-101) and an Inferred
resource of 2.07 million ounces gold (NI 43-101) and
covers 12 kilometers of a volcanic/sedimentary belt along the
Destor Porcupine Fault Zone,
similar to that which has hosted the bulk of
the 75 million ounces mined to date in the Timmins Camp.
This news release does not constitute an offer to sell or
a solicitation of an offer to buy any of the securities
in the United States. The securities have not been and will
not be registered under the United States Securities Act
of 1933, as amended, or any state securities laws and may
not be offered or sold within the United States or to
U.S. Persons unless an exemption from such registration
is available.
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=72411010
Moneta Porcupine Mines Inc (TSE:ME) CORPORATE PRESENTATION -
February 2012 -
http://www.monetaporcupine.com/i/pdf/MONETA_FEB_2012.pdf
http://www.monetaporcupine.com
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=72411010
http://investorshub.advfn.com/boards/board.aspx?board_id=5495
God Bless
Gas went up another 10 cents around here. I found a station that hadn't increased yet and gassed up tonight instead of tomorrow. I felt like I had "saved" a buck and a half so I bought myself a treat on the way home.
#3 on the fact list. Gas is almost $6 a gallon right now in some places in the US :
#8 and #14 are mind blowing
http://theeconomiccollapseblog.com/archives/55-interesting-facts-about-the-u-s-economy-in-2012
That's too bad. The only problem with listening exclusively to views that agree with one already held, is you never learn anything.
It's true, usually you just hear the same old jargon, but sometimes there's something really useful or helpful that comes from it.
That GSS Golden Star Resources Ltd. http://www.gsr.com/ is a good example. They sound pretty darn good.
I don't always agree with that poster's methodology but that doesn't mean he can't find a great pick.
If I was a pussy or had a thin skin I never would have heard about it!
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