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Yeah Baby!! Retirement on that boat. Thanks Frank
<INM is a dog, LOL!>
Now talk nice CD. CC tells me that INM may be the best of all those picks you just mentioned. Tiny market cap, great sampling assays, lots of cash in the bank vs market cap size. News in a week or so I hear. They are like other juniors in Mexico searching for other properties to acquire. I added 28% to my long INM position today.
We all love gold but can't all have your handle. <g>
Thanks Croesus. BTW I think your handle refers to someone in history?? A king as rich as Croesus??
Eva,
get a live feed there is moe volume than 29K.<g> But hey if no ones else likes it I will get the cheapies. LOL.
Check the volume cannacord 33 I just got 29K. I like the price every time it dips. Then us dips come in to buy the dip.
tom
I like the action on SVL and am heavy on the bid scooping up all the loose shares I can to 1.40. <g> News coming???
amarksp,
cycle pro is the man! What people could do is go back and read his stuff from a year or two ago. lays out the bull picture for gold as well as anybody with a potential run up to or around 2010 - 2012. Some interesting material.
tom
and the real thing is????????.............
zolt I was surfing. da chief is an oldtime newsletter guy been around for ages. thinks the market is going to the sky all of them. find his thread under his alias. i don't have time to read it but saw a post on CFZ on SI.
Are we bullish on the wrong market? Read this from wolanchuk:
To:Lizzie Tudor who wrote (10918)
From: da_cheif Tuesday, Sep 23, 2003 7:40 PM
Respond to of 10929
and to think liz....the bull is just gettin started..u aint seen anyting yet....the 90.s will look like childs play in comparison....
Eva,
<I guess about the same like Tom, cause we are Monkey's> True but it was a good buy at 2.40 - 2.50. I think I am going to add a tad more CBD as the next few weeks go along. I think it has great takeover potential by next year about this time.
Hang around.
tom
A loss teaches us a good lesson but most of the picks we have may save us from the box.
Of course working in the credit business for 20 years has taught me that we need to get the money and then live as cheap as possible. Buying what you need, saving for the kids and forgetting the fancy trappings that won't let you escape the treadmill.
Wayne is right though the thought of that box is a driving force. <g>
And if we end up in the dry San Diego or LA river bed and get one of them rain things we can use it as a canoe. Get some surfer girls in the bunk beds as the wind surfers have turned us down. <g>
Better let Wayne know you are rooting for him, he is out shopping for a box now after SRM. <g>
I hope not Frank. <ng>
That is what may keep Wayne and I from having to bum that load of boxes off of Kerry at CBD.
Frank I appreciate the stratfor please keep posting.
Eva are you saying you are here just slumming? <g>
zolt I have owned CBD off and on for 2.5 years and 7 months or so this last time.
Hey there is the picture Frank posted of our boat coming in.CBD
One of CC's favorite picks at this price level.
I wish I knew but I think it will be in November late.
tom
PS:Should have some news before then. More samples.
For those about ready to take profit on CBD thought I would have Frank help me post the previous picture of a barge being unloaded with equipment at Meadowbank. We have 3-773 rock trucks, a 350 excavator, a 966 loader and a 250 ton per day mobile crushing plant, portable power packs, 2 large diesel fuel storage tanks, several equipment lube trucks etc. This baby is gonna roll. I am long and strong CBD. BTW for full disclosure I did sell 14% of CBD today as I had added some shares last week for a short term trade. Those were the proceeds I used to buy additional SVL. Claude's picks keep on rolling.
tom
Disclaimer: I am long SVL and added 15,800 shares today. The recent hoopla has been about the potential extension of and a 2nd breccia pipe at El Ocote. This alone is a company maker but what follows I am more excited about and it may soon light a huge fire under SVL shares even from this price level.
Check this out:http://silvercrestmines.com/blanca.html
Now here is where I need some help. Click on the map image on the lower right side. Notice a potential area of 300 X 700 meters or so. Notice the location of the adit in regards to the rose colored circles. Now click on the 2nd image and check out the slope of the potential vein. At the top of the slope samples were taken at 60 ounces per ton (for the yanks) and 1945 g/t for everyone else. Looks to me that by looking at the topo map etc that the adit lies about 200 meters below the top of the hill. In addition taking the slope into consideration it may cover 600-700 meters in length. Inside the adit the map shows a potential continuation of the down dip vein. Samples from the adit were taken at about 196 ounces per ton or 6301 g/t. I guess a rough average may be about 128 ounces per ton. So assuming 3 meters wide 600 meters in length etc etc. Where are in ounces taking a WAG? This sure to heck is high grade and samples are from the surface and underneath so.........
So..............I am accumulating a s much SVL as possible as it gets better and better IMHO.
http://www.geocities.com/WallStreet/Exchange/9807/Charts/SP500/Outlook.htm
<The current bull market in gold and gold stocks is really still just an infant. It has only been crawling so far and is slowly learning to walk upright. Soon, gold will be like a 2 year old bouncing around the room, seemingly out of control and into everything. When comparing charts from recent history you will not get a very good comparison for indicators such as relative strength (RSI)or stochastics. These are both suggesting that gold may be overbought and needing a correction. But the past 20+ years gold has been in a bear market where RSI and stochastics registered oversold while prices drifted even lower. In the gold bear market, only overbought readings were of value to short-term traders. Now that we are in a very long term bull market, RSI and stochastics are likely to signal overbought while prices continue to run even higher. Only oversold signals will be valuable and reliable enough for short-term trading.>
You da man!!! I am not counting as I am eating fried chicken cooked with a corn flake coating. <g>
See ya in a bit.
Frank
Y-O-U M-U-S-T A-N-T-I-C-I-P-A-T-E These two day almost $10.00 moves in gold.
cd,
let's see how long they can control the descent of the dollar a "SNOWball" rolling down hill after the far east "SNOWjob".
I got a photo from CBD showing a barge dropping tons of equipment at meadowbank. Trucks, loaders, Cats, portable crusher 250 TPD, steel fuel storage tanks. Can't figure how to get it from a work email attachement into here. If someoone knows they have to tell me using little words and speaking very slowly. LOL.
I should have. <g>
We can see the gold price is up maybe soon the mining shares will see it too.
tom
I would get you to do "my own thing" for me Louis but you would charge me too much! <g> I can't afford you. LOL.
Louis,
TA is interesting to follow and Irespect your work and others here. But I have been 100% investeed for several years now and it has paid off. FA tells me we are in a bull and so does the gut check. I have held through some brutal losses and taken some fantastic gains so don't quitposting <g> but I usually do my own thing, but must admit Claude is successful on getting me to do things once in awhile. Usually buy. <g>
Louis, I don't know much about charts but that looks good if you say it is. Much appreciated.
tom
<80.37 g/t over 4.32 m at 92m below surface>
Gotta love it. <g>
News out on CBD:
Press Release Source: Cumberland Resources Ltd.
Cumberland Reports Final Phase 1 2003 Drill Results From Vault Deposit
Thursday September 18, 1:15 pm ET
VANCOUVER, BRITISH COLUMBIA--CUMBERLAND RESOURCES LTD. (CBD-TSX) is very pleased to report final results from Phase 1 2003 Vault deposit open pit delineation drilling at the Company's 100% owned Meadowbank gold project, located 70 kilometres north of the Hamlet of Baker Lake, Nunavut. Revisions to project resources, incorporating Phase 1 drilling results, are currently being finalized for feasibility level open pit designs and reserve classification.
Phase 1 activities included over 14,000 metres of diamond drilling in a total of 146 holes as part of a $10.5 million 2003 work program at the Meadowbank project designed to define and explore for further resources, complete a feasibility study and commence mine development permitting. Phase 2 activities, which include an additional 5,000 metres of diamond drilling focused on additional infill and exploration drilling, are now being completed. Feasibility studies are on track for completion in late 2003 or early in the first quarter of 2004.
"The 98 drill holes completed during Phase 1 at the Vault preliminary open pit (see below) have now prepared the resource for open pit reserve classification," remarked Kerry Curtis, President and CEO. "This final series of drill holes at Vault exceeds expectations with numerous thick, high grade intersections and marks a very successful conclusion to the delineation of the preliminary open pit design".
Highlights from the final 24 drill holes from Phase 1 at Vault include:
5.20 g/t gold over 14.07m at 153m below surface and
6.09 g/t over 10.62m at 173m below surface in Hole 210
4.24 g/t over 8.44m at 80m below surface and
80.37 g/t over 4.32 m at 92m below surface and
3.26 g/t over 15.19m at 112m below surface in Hole 208
6.70 g/t gold over 16.35m at 99m below surface in Hole 203
6.48 g/t over 10.36m at 66m below surface in Hole 194
All drill intersections fall within the Vault preliminary open pit designs and represent approximate true widths of mineralization. A complete table of Phase 1 results and a drill hole location map are attached to this release.
Vault Deposit
The Vault deposit is one of six known gold deposits at the Meadowbank gold project. Open pit mining studies by international engineering firm AMEC on the Vault resource model(1) (see news release NR03-04) recently expanded the potential open pit resource, eliminating or deferring the need for underground mining of the deposit. The Company completed an additional 102 drill holes, including four exploration holes, in the deposit and surrounding area in the Phase 1 2003 program. This additional drilling will improve resource classification and ready the deposit for feasibility level open pit designs. Results from surface trench excavations completed during the Phase 2 program are also expected shortly.
Since discovery, a total of 213 diamond drill holes in 24,000 metres of drilling have been completed at the Vault deposit. In early August 2003 (see news release NR03-20) the Company announced that exploration drilling located 400 metres west of the deposit successfully intersected additional mineralization. The deposit also remains open for expansion at depth.
Vault Preliminary Pit Designs - May 2003 (US$325/oz)
-----------------------------------------------------------------------
Category Tonnes Grade (g/t) Ounces Gold
-----------------------------------------------------------------------
Measured and Indicated 4,100,000 3.59 473,000
-----------------------------------------------------------------------
Inferred 3,100,000 3.63 362,000
-----------------------------------------------------------------------
Note: Revised preliminary designs do not include provision for mining dilution or ramps and generate a waste to ore strip ratio of 9:1. Mineral resources which are not reserves do not have demonstrated economic viability. A cut-off grade of 1.85 g/t was applied.
Meadowbank Gold Project
Meadowbank is host to the third largest undeveloped gold resource in Canada with six closely spaced, near surface, gold deposits totaling:
Meadowbank Project Resources(2) - Q2/2003
-----------------------------------------------------------------------
Measured and Indicated 15,471,000 t grading 4.66 g/t 2,318,000 oz. gold
Inferred 8,921,000 t grading 4.20 g/t 1,205,000 oz. gold
-----------------------------------------------------------------------
Cumberland is well financed and is advancing the 100% held Meadowbank gold project in Nunavut to production. The Company is currently evaluating a 10 year open pit mine plan, which on the basis of a preliminary assessment(3) completed in January 2002, indicated the Meadowbank project could support a production rate of approximately 250,000 ounces per year at an estimated cash cost of US$168 per ounce.
Cumberland Resources holds interests in two of the largest undeveloped gold projects in Canada: Meadowbank (100%) and Meliadine West (22% carried to production), projects in Nunavut.
CUMBERLAND RESOURCES LTD.
Kerry M. Curtis, B.Sc., Geo., President and CEO
R. Brian Alexander, P.Geol. is the Chief Geologist and designated Q.P. for the Meadowbank Project. Mr. Alexander has managed the project since 1997 and supervises drill hole planning, implementation and quality control/quality assurance programs. Drill core analysis is performed on split core with standard fire assay procedures and AA finish. QA/QC programs employ random insertion of four internal standards, field duplicates and blank samples. Gravimetric analysis is performed on any sample yielding greater than 1 g/t gold in fire assay. Primary assaying is performed by IPL Laboratories, of Vancouver. ASL Chemex Labs of Vancouver provides external reference assaying.
(1) Vault resource model: James McCrea, P.Geo., Manager, Mineral Resources is Cumberland's Qualified Person for the resource modeling. Resource classification conforms to CIM Standards on Mineral Resources and Reserves (August 2000).
(2) Second quarter 2003 resource estimates and classification are in accordance with National Instrument 43-101 and conform to CIM Standards on Mineral Resources and Reserves (August 2000).
(3) Cautionary Note: The preliminary assessment completed in January 2002 is preliminary in nature, included inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves and there is no certainty that the preliminary assessment will be realized. The production forecast used in the Preliminary Assessment included approximately 5.9 million tonnes of Inferred Mineral Resource, or 41% of the total forecast. In compliance with National Instrument 43-101, the Company issued a Technical Report which is available at www.sedar.com for review.
This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the Corporation's control which may cause actual results, performance or achievements of the Corporation to be materially different from the results, performance or expectations implied by these forward looking statements.
---------------------------------------------------------------------
2003 SPRING DIAMOND DRILLING - VAULT COMPOSITES
HOLE LOCATION FROM TO GRADE WIDTH
---------------------------------------------------------------------
VLT03-168 4860N 4755W 86.28 94.30 2.48 8.02
---------------------------------------------------------------------
VLT03-169 4860N 4680W 104.80 115.70 2.43 10.90
Incl. 104.80 108.70 5.27 3.90
122.79 136.15 2.77 13.36
Incl. 129.75 130.48 18.30 0.73
---------------------------------------------------------------------
VLT03-178 4540N 4685W 109.32 116.00 5.01 6.68
---------------------------------------------------------------------
VLT03-179 4575N 4700W 104.98 111.40 4.25 6.42
---------------------------------------------------------------------
VLT03-186 4625N 4700W 77.80 81.34 8.05 3.54
Incl. 79.43 80.49 22.40 1.06
103.42 114.70 3.77 11.28
Incl. 111.70 113.70 9.23 2.00
---------------------------------------------------------------------
VLT03-192 5060N 4925W 32.19 39.78 2.56 7.59
---------------------------------------------------------------------
VLT03-193 5060N 4875W 44.90 57.25 3.06 12.35
---------------------------------------------------------------------
VLT03-194 5060N 4825W 65.67 76.03 6.48 10.36
---------------------------------------------------------------------
VLT03-195 5060N 4775W 71.23 73.78 2.33 2.55
80.06 84.61 33.2 4.55
Incl. 80.06 80.30 26.00 0.24
86.94 92.28 4.12 5.34
Incl. 88.26 89.46 13.36 1.20
---------------------------------------------------------------------
VLT03-196 5060N 4720W 101.73 115.13 2.39 13.40
---------------------------------------------------------------------
VLT03-197 4925N 4640W 134.00 142.79 2.88 8.79
---------------------------------------------------------------------
VLT03-198 4860N 4630W 121.55 123.90 1.86 2.35
156.55 163.19 3.81 6.64
---------------------------------------------------------------------
VLT03-199 4625N 4650W 120.91 131.56 4.91 10.65
Incl. 128.20 131.56 11.77 3.36
And 128.20 129.13 28.85 0.93
---------------------------------------------------------------------
VLT03-200 4800N 4650W 141.95 144.12 3.01 2.17
146.95 155.70 3.14 8.75
---------------------------------------------------------------------
VLT03-201 4675N 4620W 97.72 99.79 4.11 2.07
141.50 149.20 4.83 7.70
Incl. 146.00 146.47 20.40 0.47
---------------------------------------------------------------------
VLT03-202 4975N 4650W 74.35 78.97 2.36 4.62
130.20 140.14 2.79 9.94
---------------------------------------------------------------------
VLT03-203 4675S 4715W 79.95 84.75 2.67 4.80
97.65 114.00 6.70 16.35
Incl. 110.32 114.00 17.36 3.68
---------------------------------------------------------------------
VLT03-204 5025N 4690W 51.23 53.32 5.61 2.09
Incl. 51.23 51.82 13.85 0.59
117.16 124.75 2.17 7.59
---------------------------------------------------------------------
VLT03-205 4710N 4635W 97.73 101.53 8.61 3.80
Incl. 98.66 99.54 15.00 0.88
113.76 119.95 2.28 6.19
132.57 139.80 1.56 7.23
143.40 149.64 4.44 6.24
---------------------------------------------------------------------
VLT03-206 5025N 4745W 91.72 93.89 2.30 2.17
100.82 108.02 3.43 7.20
---------------------------------------------------------------------
VLT03-207 4388N 4775W 21.43 22.70 5.76 1.27
---------------------------------------------------------------------
VLT03-208 4710N 4685W 82.90 91.34 4.24 8.44
98.01 102.33 80.37 4.32
Incl. 101.26 102.20 362.64 0.94
114.52 129.71 3.26 15.19
Incl. 117.19 119.00 13.97 1.81
---------------------------------------------------------------------
VLT03-209 4350N 4785W 81.35 81.93 3.33 0.58
---------------------------------------------------------------------
VLT03-210 4740N 4550W 131.39 136.31 1.82 4.92
155.87 169.94 5.20 14.07
Incl. 163.05 167.22 9.01 4.17
178.68 189.30 6.09 10.62
---------------------------------------------------------------------
---------------------------------------------------------------------
PREVIOUSLY RELEASED 2003 SPRING DIAMOND DRILLING
- NEAR SURFACE VAULT COMPOSITES
HOLE LOCATION FROM TO GRADE WIDTH
---------------------------------------------------------------------
VLT03-165 4775N 4975W 10.65 15.85 3.03 5.20
18.00 25.02 1.14 7.02
---------------------------------------------------------------------
VLT03-166 4675N 4993W 4.70 10.70 2.71 6.00
16.92 20.57 1.67 3.65
---------------------------------------------------------------------
VLT03-167 4675N 5007W 5.80 6.80 1.00 1.00
---------------------------------------------------------------------
VLT03-170 4625N 4975W 15.84 21.68 3.48 5.84
---------------------------------------------------------------------
VLT03-171 4625N 4996W 2.43 11.18 4.12 8.75
Incl. 9.28 10.18 15.60 0.90
---------------------------------------------------------------------
VLT03-172 4575N 4970W 9.05 16.60 6.06 7.55
Incl. 9.85 11.00 20.30 1.15
---------------------------------------------------------------------
VLT03-173 4575N 4995W 4.00 11.05 2.74 7.05
---------------------------------------------------------------------
VLT03-174 4540N 4980W 16.55 23.15 1.53 6.60
---------------------------------------------------------------------
VLT03-175 4540N 5010W 7.00 7.75 3.22 0.75
---------------------------------------------------------------------
VLT03-176 4500N 4992W 12.90 24.08 4.31 11.18
Incl. 19.28 20.10 19.44 0.82
---------------------------------------------------------------------
VLT03-177 4500N 5018W 3.60 15.95 5.12 12.35
Incl. 5.10 6.03 15.80 0.93
---------------------------------------------------------------------
VLT03-180 4460N 4980W 17.23 27.00 3.31 9.77
---------------------------------------------------------------------
VLT03-181 4460N 5010W 6.70 19.10 5.97 12.40
Incl. 8.65 9.80 19.27 1.15
And 15.15 16.46 16.58 1.31
---------------------------------------------------------------------
VLT03-182 4460N 5025W 7.95 14.35 11.31 6.40
Incl. 11.13 14.35 21.39 3.22
---------------------------------------------------------------------
VLT03-183 4425N 4980W 16.90 25.20 3.91 8.30
Incl. 17.32 18.20 17.95 0.88
---------------------------------------------------------------------
VLT03-184 4425N 5010W 8.00 14.13 3.94 6.13
Incl. 8.00 8.75 14.60 0.75
---------------------------------------------------------------------
VLT03-185 4425N 5025W 9.20 10.75 1.44 1.55
---------------------------------------------------------------------
VLT03-187 4388N 5006W 10.30 13.37 4.09 3.07
---------------------------------------------------------------------
VLT03-188 4388N 5036W 9.00 9.46 0.98 0.46
---------------------------------------------------------------------
VLT03-189 4350N 4980W 18.73 20.75 3.22 2.02
---------------------------------------------------------------------
VLT03-190 4350N 5010W 10.52 12.67 5.18 2.15
---------------------------------------------------------------------
VLT03-191 5060N 4975W 16.00 24.12 1.84 8.12
---------------------------------------------------------------------
---------------------------------------------------------------------
PREVIOUSLY RELEASED 2003 SPRING DIAMOND DRILLING
- VAULT COMPOSITES
HOLE LOCATION FROM TO GRADE WIDTH
---------------------------------------------------------------------
VLT03-109 4830N 4895W 8.71 11.42 3.99 2.71
23.08 32.63 3.39 9.55
42.46 47.00 2.00 4.54
---------------------------------------------------------------------
VLT03-116 5025N 4940W 22.94 34.55 1.43 11.61
Incl. 25.27 32.55 1.76 7.28
---------------------------------------------------------------------
VLT03-118 4890N 4900W 21.00 29.40 2.71 8.40
32.07 49.40 1.74 17.33
---------------------------------------------------------------------
VLT03-119 5025N 4886W 32.92 40.64 4.38 7.72
Incl. 38.57 40.64 13.07 2.07
42.80 49.85 2.31 7.05
Incl. 48.35 49.85 4.44 1.50
---------------------------------------------------------------------
VLT03-120 4925N 4908W 22.33 40.40 5.94 18.07
Incl. 22.33 37.38 6.88 15.05
---------------------------------------------------------------------
VLT03-121 4831N 4976W 3.00 6.15 1.29 3.15
Incl. 3.00 5.04 1.73 2.04
And 4.00 5.04 2.12 1.04
---------------------------------------------------------------------
VLT03-123 4990N 4962W 15.50 23.00 4.87 7.50
---------------------------------------------------------------------
VLT03-124 4990N 4910W 35.10 42.11 2.06 7.01
Incl. 35.10 39.99 2.55 4.89
---------------------------------------------------------------------
VLT03-126 4830N 4950W 2.55 18.95 3.08 16.40
Incl. 5.91 9.62 5.11 3.71
---------------------------------------------------------------------
VLT03-132 4860N 4984W 2.65 4.10 1.87 1.45
---------------------------------------------------------------------
VLT03-134 4890N 4974W 2.46 6.26 11.87 3.80
Incl. 2.46 3.00 77.47 0.54
13.64 19.32 2.35 5.68
---------------------------------------------------------------------
VLT03-137 4890N 4949W 12.43 30.71 2.05 18.28
Incl. 12.43 16.70 3.60 4.27
---------------------------------------------------------------------
VLT03-138 4925S 4984W 8.70 13.10 2.60 4.40
---------------------------------------------------------------------
VLT03-139 4930N 4959W 16.92 23.39 2.57 6.47
---------------------------------------------------------------------
VLT03-140 4770N 4920W 10.57 17.40 4.18 6.83
Incl. 12.35 14.71 9.63 2.36
---------------------------------------------------------------------
VLT03-143 4710N 4936W 11.60 17.75 2.52 6.15
Incl. 16.80 17.75 11.60 0.95
20.60 27.67 3.24 7.07
---------------------------------------------------------------------
VLT03-158 4800N 4992W 10.85 12.52 2.21 1.67
---------------------------------------------------------------------
VLT03-159 4800N 5003W 8.29 8.58 2.78 0.29
---------------------------------------------------------------------
VLT03-160 4770N 4959W 12.70 17.17 2.84 4.47
---------------------------------------------------------------------
VLT03-161 4770N 4990W 2.15 7.75 2.08 5.60
Incl. 4.85 7.75 2.92 2.90
---------------------------------------------------------------------
VLT03-162 4740N 4941W 13.25 14.60 3.94 1.35
---------------------------------------------------------------------
VLT03-163 4710N 4961W 10.29 18.60 2.38 8.31
Incl. 14.95 15.95 5.19 1.00
---------------------------------------------------------------------
--------------------------------------------------------------------------------
Contact:
Cumberland Resources Ltd.
Kerry Curtis
President and CEO
Phone: (604) 608-2557
Fax: (604) 608-2559
or
Cumberland Resources Ltd.
Joyce Musial
Manager, Investor Relations
Phone: (604) 608-2557
Fax: (604) 608-2559
Email: info@cumberlandresources.com
Website: www.cumberlandresources.com
--------------------------------------------------------------------------------
Source: Cumberland Resources Ltd.
Email this story - Set a News Alert
<You did that just to yank on my chain didn't you?>
Yeah because all kidding aside I look out for the box mate.
I will be holding both CBD and CKG big time.They are not going to have the mine in production until 2006 early spring.
http://www.guardian.co.uk/saudi/story/0,11599,1044402,00.html
Wayne you work in the oil services industry don't you? <g>
Saudis consider nuclear bomb
Ewen MacAskill and Ian Traynor in Vienna
Thursday September 18, 2003
The Guardian
Saudi Arabia, in response to the current upheaval in the Middle East, has embarked on a strategic review that includes acquiring nuclear weapons, the Guardian has learned.
This new threat of proliferation in one of the most dangerous regions of the world comes on top of a crisis over Iran's alleged nuclear programme.
A strategy paper being considered at the highest levels in Riyadh sets out three options:
· To acquire a nuclear capability as a deterrent;
· To maintain or enter into an alliance with an existing nuclear power that would offer protection;
· To try to reach a regional agreement on having a nuclear-free Middle East.
Until now, the assumption in Washington was that Saudi Arabia was content to remain under the US nuclear umbrella. But the relationship between Saudi Arabia and the US has steadily worsened since the September 11 attacks on New York and Washington: 15 of the 19 attackers were Saudi.
It is not known whether Saudi Arabia has taken a decision on any of the three options. But the fact that it is prepared to contemplate the nuclear option is a worrying development.
United Nations officials and nuclear arms analysts said the Saudi review reflected profound insecurities generated by the volatility in the Middle East, Riyadh's estrangement with Washington and the weakening of its reliance on the US nuclear umbrella.
They pointed to the Saudi worries about an Iranian prog-ramme and to the absence of any international pressure on Israel, which has an estimated 200 nuclear devices.
"Our antennae are up," said a senior UN official watching worldwide nuclear proliferation efforts. "The international community can rest assured we do keep track of such events if they go beyond talk."
Saudi Arabia does not regard Iran, a past adversary with which Riyadh has restored relations, as a direct threat. But it is unnerved by the possibility of Iran and Israel having nuclear weapons.
Riyadh is also worried about a string of apparent leaks in American papers from the US administration critical of Saudi Arabia.
David Albright, director of the Institute for Science and International Security, a Washington thinktank, said he doubted whether the Saudis would try to build a nuclear bomb, preferring instead to try to buy a nuclear warhead. They would be the first of the world's eight or nine nuclear powers to have bought rather than built the bomb.
"There has always been worries that the Saudis would go down this path if provoked," said Mr Albright. "There is growing US hostility which could lead to the removal of the US umbrella and will the Saudis be intimidated by Iran? They've got to be nervous."
UN officials said there have been rumours going back 20 years that the Saudis wanted to pay Pakistan to do the research and development on nuclear weapons.
In 1988, Saudi bought from China intermediate-range missiles capable of reaching any part of the Middle East with a nuclear warhead.
Four years ago, Saudi Arabia sent a defence team to Pakistan to tour its secret nuclear facilities and to be briefed by Abdul Qader Khan, the father of Pakistan's nuclear bomb.
A UN official said: "There's obviously a lot of restlessness in the Middle East. Regional insecurity tends to produce a quest for a nuclear umbrella. The Saudis have the money and could provide it to Pakistan."
Mr Albright said the Saudis would face a long haul if they were determined to acquire nuclear weapons. He doubted whether anyone would sell.
Arab countries yesterday urged the International Atomic Energy Authority, the UN nuclear watchdog, to get tough with Israel to let inspectors assess its nuclear programme in line with similar pressure on Iran.
Oman's ambassador to the IAEA, Salim al-Riyami, speaking on behalf of the Arab League, which represents Arab states, said it was time to get tough with Israel. "I think it's time to deal with this issue more substantively than before," he said.
Special report
Saudi Arabia
News guide
20.12.2001: Main news sources in Saudi Arabia
EDIT/EOM