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Rising U.S. bond yields may spark Credit Crisis II
http://www.reuters.com/article/reutersEdge/idUSTRE54S53620090529?pageNumber=1&virtualBrandChannel=0
Gold just broke 980. Only 20 bucks to the big 1G.
Geithner in China this week to beg for more cash. 20 yr treasuries anyone...anyone....last call for treasuries...
http://www.wsls.com/sls/news/national/article/treasury_secretary_geither_will_discuss_deficits_with_china/36292/
What is Einhorn Buying? Take a wild guess where the smart money is moving. http://www.cnbc.com/id/15840232?video=1135331427&play=1
Were "Movin' On Up"
Silver just made a new high for the year! $15.02 per OZ.
Hey don't we have about 18.75 million ounces of that dang blue stuff so far?
( ;
Cheers
Yes gspg own's the mineral rights to it's properties. GSPG has the dominant land position on the Comstock. There is alot of info out there on the company if you do some digging. Here is a good starting point.
Ya GSPG IMO is definitley more promising. There are alot of junior miners out there but non I have found with the same massive potential. I'm actually more interested in the silver aspect of gspg. Do some DD on the history of the Comstock and compare that to our current results. History does have a tendancy to repeat itself. Best of luck
Cheers,
D
There are alot of head winds to over come. The share price reflects your uncertainty. 870,000 ounces of gold and nearly 13 million ounces of silver have been identified. After the additional findings have been confirmed, that will be probably over $1 Billion in reserves hopefully by years end and that's less than 5% of the property. This is very real. In time this does have the potential to be the largest Gold Silver mine in Nevada. The Comstock does have a history of big things. It's going to take time and money. I believe in time things will fall into place, it may not. There is always that risk but that is what makes this a high risk high reward stock. One thing I do know. Gold and silver with some pull backs of course will be much higher going into 2010 and our prospects for better financing will also improve.
Cheers,
D ( ;
I think just sell into the news day trader types and weaker hands. It will slowly creep up from here. Head fake.
Cheers,
D
Correction 938 ha ha ( ;
Cheers,
D
Wow Gold hit 138 today! We are well into Bull territory now, all those gold shorts must be kicking themselves. The fight to 1000 continues. $1200 gold by years end? Very possible. Big money is slowly moving in to saftey. Go gspg!
Cheers,
D
It's starting to feel like our little gspg just might graduate 1st grade. A while ago we thought it would never get out of kindergarten. Will it pass elementary school and go onto high school, dare I say one day university. Only time will tell. Go GSPG! Baby steps.
Cheers,
D
Does this mean we have 1.4M gold and 19M silver on 2% of the land?
I need more info but this is looking very positive. I'm guessing these additional ounces can not officially be qualified as reserves yet? Not sure. I hope the full report comes out soon so we can get more info. Have a great weekend everyone. Go gspg ( ;
" The Report also quantified mineral resources of 30 million additional tons, containing 870,000 ounces of gold and 12.9 million ounces of silver." Woo Hoo!!!
I hear ya thistime. Have a nice long weekend ( :
Cheers,
D
Things are heating up. Get ready for currency wars.
Things appear to be moving much faster than I had anticipated. Gold and gspg should benefit from this tension surrounding fiat currencies in the coming years. Go gspg!
Cheers, D
America threatens trade war with China
http://www.telegraph.co.uk/news/worldnews/asia/china/5316145/America-threatens-trade-war-with-China.html
Japan 'would avoid dollar bonds'
http://news.bbc.co.uk/2/hi/business/8046599.stm
Thanks for the gold chart video. It confirmed my theory that some time around the middle of May the Dow will be going into free fall and gold may do the inverse. I'm thinking gold might break 950ish. This will set it up some nice strength for a rise past 1000 going into 2010. I don't do charts, my theory is based on the large quantities of #$%^ that will be hitting the financial fan in the coming months. Also, thanks for the gspg pics. ( :
Cheers,
D
Banks May Need $1 Trillion After U.S. Tests
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aj5XjJ6xwN6Y
China will most likely increase gold reserves by 5 X
This is huge.
"Hou Huimin, vice general secretary of the China Gold Association,
said China should build its reserves to 5,000 tonnes."
China revealed on Friday that it had secretly raised its gold reserves by three-quarters since 2003, increasing its holdings to 1,054 tonnes
The key word here IMO is "secretly"
http://www.financialpost.com/news-sectors/story.html?id=1530063
China Increases Gold Reserves 76% to Fifth-Largest
http://www.bloomberg.com/apps/news?pid=20601087&sid=azu2GgdtzJqQ&refer=home
This is the only good thing about a trade deficit.
recall
Hey thistime,
Ya it's a possibility but keep in mind that even with the possible dilution the share price could still go much higher. My back of the napkin calculations see gspg resources if we are lucky could be around 1 Billion dollars and that's only what has been drilled so far. If they have around 1 mill ounces gold and who knows how much silver. Take away maybe 20% for cost and spread it out over a few years and divide that by worst case scenario dilution you still get a much higher share price. This is just back of the napkin stuff of course we won't know the details until the feasibility report comes out. Placer mining can be efficient and with a mill who knows? Also 2010 gold prices could be much higher. It's definitely still high risk high reward scenario but I have a hunch a deal might come along after the report. The numbers and potential will certainly might raise some eye brows.
Cheers,
D
Stimulus Package for who?
BEIJING -- General Motors Corp. would need to build another car-assembly plant in China to meet its goal of doubling its annual sales in the country to two million vehicles in five years, a senior executive said Wednesday.
http://online.wsj.com/article/SB123979346116820629.html
China is even pissing off CNBC now.
China Manipulating its Currency?
http://www.cnbc.com/id/15840232?video=1095091219&play=1
Very nice drill results!
Thirty (30) feet zone of 0.209 ounces per ton gold and 0.992 ounces per ton silver starting at a depth of forty (40) feet.
Cheers,
D
Even though I said ignore the yahoo board after you mentioned this bese company I could not help but check out there web site. It's a really junky web site. It even makes gold springs site look good ha ha. I noticed there mailing address is only a couple blocks away from where I work here in Vancouver. So just now actually I stepped in on my lunch break to see if this company actually exists. I walked in and talked with the secretary and she had never heard of Beeston. Shocker. I left a note so maybe her boss will call me back, but I doubt it. There was an architect's office and a company called American Investments .Ltd on the floor so maybe that has something to do with it. Anyway, it looked pretty dodgy to me.
Cheers,
D
I would put the "other board" on ignore. Use your own judgment.
Cheers,
D
Elite Junior Gold Mining Stocks at Insanely Low levels
Apr 03, 2009 - 12:12 PM
http://www.marketoracle.co.uk/Article9846.html
The G20 moves the world a step closer to a global currency
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/5096524/The-G20-moves-the-world-a-step-closer-to-a-global-currency.html#comments
This is a problem because...
DEBT is about $11 trillion plus $53 trillion unfunded liabilities i.e.health care and social security, the actual debt is over $60 trillion in debt and compounding. This is a problem because...
America has the largest trade deficit in the world. America on average consumes more than it produces. China has the largest trade surplus in the world. This is a problem because...
America still has a negative savings rate. The last time that happened was 1933 and 1934. This is a problem because...
99.9% of American money supply is created by private banks using the magic of Fractional reserve banking.. The other 0.1% is coins. This is a problem because...
If you allow people to pretend they have money and lend it at
interest, you’re going to wind up with a spiral of debt and inflation,until it can’t spiral any higher. It will have to collapse. This is a problem because...
Foreign demand for long term treasury bonds has faded. The Fed is now buying its own bonds in effect monetizing debt. The next bubble may be government bonds. This is a problem because...
There is a $600 TRILLION Radioactive Monster called 'Derivatives' and Hyperinflation Lurking in the wings. This is a problem because...
The "Plunge Protection Team" has been authorized by presidential order to use U.S. taxpayer money to manipulate markets to make them appear healthier than they are. This is a problem because...
Foreign governments like China and Russia are already calling for a new global currency. The Khaleeji is the proposed gold backed common currency of the member states of the GCC. This is a problem because...
The world’s reserve currency is US dollars and if dethroned the US can no longer hold foreign banks hostage through there reserve holdings. This is a problem because...
The government reports the unemployment is rate is 8% in reality it is already 10% or higher and increasing. This is a problem because...
America needs to increase its manufacturing base and increase exports as well as be globally competitive. This is a problem because...
It is nearly impossible to be globally competitive from a labor stand point with China and India. This is a problem because...
At some point in the near future the US will not even be able to pay the interest on the compounding debt. This is a problem because...
Spelling sshmelling. Go Canucks!
Russia appears to be rearing it's head, as Sarah Palin would say. ha ha.
They may try to push this agenda at the G20. Hot off the press.
http://www.themoscowtimes.com/article/600/42/375819.htm
Also, this has less to do with gold but as a Canadian I find Russia's continual illegal intrusions into the Canadian artic more than a little disturbing. The Russians think they own it. Can you say koo koo? This may be in part why Canada is sending troops back from Afghanistan. The Canadian north is largely unprotected. Bloody Reds are on the move these days. Guess we will have to kick there butts at hockey in 2010 again. Show'em who's boss.
http://www.theglobeandmail.com/servlet/story/LAC.20090328.ARCTIC28ART21152/TPStory/National
Ever heard of the Khaleeji?
Due to come out in 2010 this gold backed currency if adopted, would be the sole legal tender in Saudi Arabia, Kuwait, Bahrain, Qatar, and the United Arab Emirates.
http://www.marketoracle.co.uk/Article8947.html
Not only that Russia and China are pushing for a new global currency with Russia pushing hard for a gold element.
http://www.guardian.co.uk/world/2009/mar/26/global-reserve-currency-world-agenda
No doubt GSPG is in the right place at the right time. I starting to think gold will probably be trading in this high range for many many years to come especially if any of these gold backed currencies make any progress. It looks as though GSPG as much as we want them too will not take advantage of this years high gold prices but I'm sure it will remain as high or higher for many many years to come. This is not like the 1980's gold spike at all. In summary I'm still long on all my gold stocks and nervously long GSPG. Anyway at least until the end of May.
Go GSPG!
The remains of Detroit.
A picture is worth a thousand words.
http://www.time.com/time/photogallery/0,29307,1864272,00.html
Ironically the only thing green today on my watch list is GSPG, Barrick and Gold corp sheesh? Market is taking a big dive into the bear cave again. Crazy times. Interesting to see if GSPG can hold her head above water today.
Cheers,
D
I agree,
People are angry for good reason. This 43-101 is a long time comin'. I heard Faber say April, May for the 43-101 and I'm holding them to it. So if Faber can't make it for end of May this company ain't worth spit and I'm gone like the wind. You can only push investors so far. A little more honesty, better communication, under promising and over delivering would do this company a world of good. I guess the problem is the high grade is all mixed in with the lower grade but they should have foreseen this as a possibility. There may be other reasons for this problem that I do not understand but from an investor perspective it looks like management dropped the ball. They have some splaining to do and if management ie Faber did drop the ball he should at least admit to his mistake or resign and get someone in there who can run a bigger operation. That is all.
Cheers,
D
Ya I agree. Alot of questions are now unanswered in my mind. All Red Chip did was open more questions for me. It's so ironic because Red Chip is there to attract investors and I think all they did was maybe scare them away ha ha. So this leads me to believe that these guys are maybe on the up and up. Only an honest person would make such a bone head move. I not sure if they have to stop drilling? and I think it's a modification of an existing permit so hopefully that will not be a problem. I think it is a water permit for the Mill, I dunno? Anyway, I too hope they are not just blowing smoke. Hopefully the truth of the possible magnitude of what they are talking about will come out in the 43-101. I'm sure they crunched the numbers on all this high grade stuff and came to the conclusion that they would be throwing away a lot of profit. I too am pretty darn mad at these guys right now but I have a hunch this thing is just getting a little to big for these jerks to handle and it shows. Hence I think someone larger will soon be in the picture to take over or lend a hand.
I finally was able see the Red Chip video. The production delay and permit announcements are very frustrating. Anyway, after sleeping on it and having time to think I am beginning to realize a silver lining to all these shenanigans. I began to realize that all delays we have been experiencing are always because they are finding to much gold and silver. It's either so much gold that they have nowhere to dump dirt without covering the gold , or they keep drilling and can't find the edge of the ore body and now we have such high grade stuff that we need to upgrade permits to mill the good stuff out. So I am depressed about permits etc and having to wait longer for production. But as long as the bad news is a result of good news ie finding to much gold I guess I can wait and see. The 43-101 better be on time or I've had it. I'm holding them to May deadline. This information and possible financing news will hopefully give us the answers we seek.
Cheers,
D
I wish I could see this presentation. Anyone have a link yet? It sounds to me like they needed Jim Golden there to get people a little more excited. I had a hunch nothing would come from
Red Chip but I was hoping they would at least have some hard numbers or at least a solid release date for the 43-101. I have looked at the charts and they do look very promising but I need more info. I'll have to see the presentation to be a fair judge of the situation.
Cheers,
D
Does anyone have a video link of the Redchip presentation to share?
Thanks,
D