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How deep is your debt?
If you're in the red, see how you compare to your fellow Americans.
October 21, 2002: 2:02 PM EDT
By Annelena Lobb, CNN/Money Staff Writer
NEW YORK (CNN/Money) - Borrowing money makes life a lot easier. If your pockets are bare and there's something you need, you can usually find a loan to bridge the gap.
http://money.cnn.com/2002/10/21/pf/millionaire/q_millionaire_debt/index.htm
Fear index to boost gold, say many
Bullion backers will present forecasts next month
By Thom Calandra, CBS.MarketWatch.com
Last Update: 11:27 AM ET Oct. 21, 2002
http://cbs.marketwatch.com/news/story.asp?guid={BD2A7AE7-8F43-43EC-9985-B5C5CF9623F9}&siteid=mkt...
Jim... Richard Russels latest...
http://www.gold-eagle.com/gold_digest_02/russell102302pv.html
Sultan/Kinross 30 Hole Drill Program Continues To Generate Gold Assays
--------------------------------------------------------------------------------
KENA PROPERTY, BC
Sultan Minerals Inc. (SUL-TSX Venture) is pleased to announce that it has now received gold assays for the first drill hole of the expanded drill program being run with its partner Kinross Gold Corp. Drilling of 4,800 metres of NQ core in approximately 30 holes will be completed during the current exploration program. The program will continue to explore the bulk tonnage potential of the Gold Mountain Zone and will also investigate the gold potential of the Great Western, Starlight and South Gold Zones.
This first hole is a depth extension of hole 01GM-10, located on the Gold Mountain Zone at the western end of drill section 1100N (see News Release dated April 30, 2002). Visible gold was noted in this hole extension in several locations between 213 and 307.8 metres and this 94.8- metre section averages 0.95 g/t gold. This hole was initially stopped at 185.32 metres depth. The hole has now been extended to 359.05 metres depth in order to test the depth continuity of the Gold Mountain mineralization. The hole intersected the favourable Silver King intrusive/Rossland volcanic contact at a down hole depth of 333.5 metres. The following table summarizes the more significant results of this hole extension:
===================================================
HOLE # FROM (m) TO (m) WIDTH (m) Au (g/t)
---------------------------------------------------
02GM-10 ext. 213.00 214.00 1.00 3.23
and 236.00 238.00 2.00 1.12
and 246.00 247.00 1.00 1.70
and 256.00 258.00 2.00 17.66
including 257.00 258.00 1.00 32.36
and 267.00 269.00 2.00 2.40
and 273.00 283.00 10.00 1.20
including 277.00 279.00 2.00 3.18
and 305.00 307.80 2.80 4.29
including 306.80 307.80 1.00 10.65
and 332.00 336.00 4.00 2.33
including 333.50 334.60 1.10 4.94
and 352.00 354.00 2.00 1.36
==================================================
Jim... the last letter I seen from Mr. Russell was dated October 18 from 321gold.
If you've already read it, please disregard.
http://www.321gold.com/editorials/russell/russell102102.html
Regards,
Michael
Prudent Bear Exercises Warrants and Candente Appoints New Director
Monday October 21, 6:50 pm ET
DNT:TSX-V
VANCOUVER, Oct. 21 /PRNewswire-FirstCall/ - Candente Resource Corp. ("Candente") (DNT: TSX Venture:) is pleased to announce the Prudent Bear Fund has exercised 382,850 Warrants at $0.25 and 1,200,000 Warrants at $0.20 for net proceeds of Canadian $335,712.50.
In addition to previous investments, the Prudent Bear Fund, will now hold 4,188,550 shares of the Company, which is 19.8% of the total issued and outstanding shares of the Company. These shares were acquired for investment purposes. The Fund also holds a total of 505,000 Warrants of the Company (370,000 exercisable at $0.20 if exercised by January 31, 2003 or at $0.25 if exercised by January 31, 2004 and 135,000 exercisable at $0.44 if exercised by May 16, 2003 or at $0.49 if exercised by May 16, 2004.
Candente is also pleased to announce the appointment of Mr. Larry Kornze as a Director of the Board of Candente. Mr. Kornze joined the Company's Advisory Board as an Officer on October 4th, 2001 and on October 18th, 2002 became a Director. He remains in the position of Director of Business Development of the Company. In the year 2001, Mr. Kornze retired from Barrick Gold Corporation as the General Manager of Exploration for Mexico and Central America, and International Evaluations. Prior to working internationally, he was the US Exploration Manager for Barrick Gold Exploration Inc. and was involved with discovery of over 40 Million ounces of Gold in the Carlin Trend of Nevada. Prior to joining Barrick in 1985, Mr. Kornze held various positions with Newmont and Getty Mining Co. in North America. His exceptional 34 year career in international gold exploration brings invaluable experience to the Company, which will greatly assist Candente in advancing its' gold properties in Peru and Newfoundland.
On another matter, Candente's management invites you to meet Joanne C. Freeze, President & CEO and other Company personnel at the following conferences: Chicago Natural Resource and Technology Exhibition and Conference, Oct. 26 in Chicago, IL; CIM Conference Oct. 31 to Nov. 2 in St John's, Newfoundland; New Orleans Investment Conference, Nov. 7-10 in New Orleans, LA; and International Investment Conference, Dec.1-2 in San Francisco, CA.
http://biz.yahoo.com/prnews/021021/va223_1.html
Marcos... relax a little, I don't think we're ready for those old VSE days, yet anyways. Enjoy your friends and family and rest up-- you'll need it once we have things humming our way. <vbg> -- Besides the speculators are still only interested in the mid-teer producers.
About NGT... "uncertainty" is a total understatement-- who's taking over who again? If you go back to last year's PR it sounded as though Matters was at the helm... no wonder those too left thing hanging in the air so long, it was Miller who gave Matter's a rope long enough to hang himself.
Anyway... I didn't have the nerve to add to my position-- but I do expect to see parity between the two. Although I'm beginning to think AAS will take the walk down to NGT's price.
Take care and see you soon.
Regards,
Michael
Merger Discussions Underway
Monday October 21, 1:10 pm ET
Alamos Provides $675,000 Loan to National Gold
VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 21, 2002-- Alamos Minerals Ltd. ("Alamos") (TSX VENTURE:AAS - News) and National Gold Corporation ("National Gold") (TSX VENTURE:NGT - News) have entered into discussions to merge the two companies. The parties have agreed to retain an independent chartered business evaluator accredited by governing regulatory bodies to conduct an independent evaluation of the merger.
http://biz.yahoo.com/bw/021021/212603_1.html
It's too early to buy gold stocks and BGO is a POS... jmho
Patterns?
The only pattern that really matters is human emotion. And I believe that hasn't changed, or will it ever change.
Regards,
Michael
Jim... your references to the bible-- or any movie that stared Charlton Heston will probably destroy this thread. What a turn off!
There's an opportunity here... You could become the undisputed spokesman for the yeller dawg-- you could be what Zeev is to Turnips, or what Slider is to Strictly Drilling -- the ultimate jackass? ...and why not, there has been three different occasions where the mining sub-sector grew at an astonishing pace -- 100% and higher for spurts lasting at least three years. We're entering one of these periods again. Don't you want to be at the forefront of this new trend? Don't let Zeev take it away from you.
#msg-547378
Regards,
Michael
Jim... the membership is free - and well worth the time to fill out the subscription form. The best feature (and it's free) is their news alerts.
Regards,
Michael
Cameco may boost Bruce Power stake
By ALLAN ROBINSON -- Globe and Mail
http://www.theglobeandmail.com/servlet/ArticleNews/business/RTGAM/20021020/wbruc1020/Business/busine...
S.Africa mine charter focus is on enrichment-De Beers
Wambui Chege -- Reuters
http://www.forbes.com/newswire/2002/10/21/rtr758937.html
Sherritt offers to buy Fording for C$1.6 billion
Reuters
http://www.forbes.com/newswire/2002/10/21/rtr758971.html
Western Copper Holdings Limited: Drilling Extends Chile Colorado Zone At Penasquito Silver Property
Monday October 21, 8:39 am ET
VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 21, 2002-- Western Copper Holdings Limited (TSX:WTC - News; "Western") today announced assay results from twelve of seventeen core holes (8,105 meters total) drilled at its 100%-owned Penasquito silver-gold-lead-zinc property in the Concepcion del Oro district of Zacatecas State, Mexico. Seven holes completed at Chile Colorado demonstrate that mineralization remains open to the east, northwest and southwest. Extending Chile Colorado to the east for at least an additional 150 meters is particularly significant because it contains a new zone of higher-grade mineralization.
http://biz.yahoo.com/bw/021021/212326_1.html
Western Copper Holdings Limited: Drilling Extends Chile Colorado Zone At Penasquito Silver Property
Monday October 21, 8:39 am ET
VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 21, 2002-- Western Copper Holdings Limited (TSX:WTC - News; "Western") today announced assay results from twelve of seventeen core holes (8,105 meters total) drilled at its 100%-owned Penasquito silver-gold-lead-zinc property in the Concepcion del Oro district of Zacatecas State, Mexico. Seven holes completed at Chile Colorado demonstrate that mineralization remains open to the east, northwest and southwest. Extending Chile Colorado to the east for at least an additional 150 meters is particularly significant because it contains a new zone of higher-grade mineralization.
http://biz.yahoo.com/bw/021021/212326_1.html
jrhana... I agree, you can't make a call on the spot price of gold, and you shouldn't. First off, the spot price isn't dictated so much on demand as it is on supply. Secondly, the American dollar is the worlds reserve currency. -- No matter how tough it gets in South America, smart money finds its way back to the US$ instead of gold.
What we need to spark the gold bull - is a lack of confidence in the United States financial systems. That's it that's all. Once that happens we'll see, like we seen in the bad old days (between the years of 1990 - 1996) the gold mining sub-sector appreciate by a 100% a year. I don't know about you, but I'm ready-- I have my baby caps safely tuked away. LTBH - until the herd comes rushing in.
The fact is you can trade these stocks, you can make the call when they're gonna rock and you can make the call when there about to sell-off. I know this because I do it regularly... you play'em strictly by momentum.
Spot price? What spot price...
Regards,
Michael
Zeev... just a word of acknowledgement ... I use you guys as indicators-- and I don't mean contrarian indicators either. Because of the calls made on this thread; I've been able to swing trade between oil&gas (positive beta) and precious metal stocks (negative beta) quite successfully. I learned a lot reading your thread these past couple of months.
In other words I lighten up on gold when you become bullish and buy the patch-- and reverse this process when you become bearish.
Thanks.
Zeev... removing politics from commodities isn't possible, but playing without the thoughts of conspiracies is. Is that why you don't speculate in this arena? Oil, gas and gold is what I'm playing-- cocoa, cattle, and the Saskatchewan Wheat Board I'm not.
As for gold? I'd never play it as a commodity-- but in a modern financial world, the people who mine it have to see it that way or the'd starve to death. How could you ever finance an operation without any realistic assumptions?
Despite the fact that gold is rare, it's also useless. Nearly all the gold thats ever been mined is still around today. In fact, I see it as a terrible investment when times are good. The value of gold as a commodity sits somewhere around the cost of production, but the value of gold during a world wide currency crisis is infinite.
I just have to keep reminding myself to sell my positions here when gold start edging its way back to the commodities section of the futures market.
Regards,
Michael
Is This House Worth $1.2 Million?
No, we don't have a housing bubble yet. But if the frenzy doesn't end soon, we will. Then, watch out.
FORTUNE -- By Shawn Tully
http://www.fortune.com/indexw.jhtml?channel=artcol.jhtml&doc_id=209840
Jim... a long-ish article about "then and now," the disapearing middle-class and the cost true of crime.
For Richer
By PAUL KRUGMAN
http://www.nytimes.com/2002/10/20/magazine/20INEQUALITY.html?pagewanted=1
The United States' Condition
Doug McIntosh
http://www.gold-eagle.com/gold_digest_02/mcintosh101802.html
The Effects of Emerging Technologies on Copper
By: Emil W. Milker
Manager, Market Research
Copper Development Association Inc.
http://marketdata.copper.org/emerging_technologies.html
Tesco Corporation Takes Top Honors at World Oil Next Generation Awards
Thirteen Winners Recognized at Industry Event
HOUSTON (realtimenews) - World Oil® magazine announced the winners of its inaugural 'Next Generation' Awards program Thursday night here in Houston to a sold-out gala dinner of oil and gas industry leaders.
http://www.slb.com/ba.cfm?baid=1&storyID=585706
A Vulnerable Time to Be Moving Oil by Sea
By NEELA BANERJEE and KEITH BRADSHER -- NY Times
http://www.nytimes.com/2002/10/19/business/worldbusiness/19TANK.html?tntemail1
U.S. coal miners, greens slam pollution proposals
http://www.forbes.com/newswire/2002/10/18/rtr758067.html
Kastel... which is, right and will continue to be right. We're in the same bed as the Americans, only our bed is smaller and more maternal. The whole currency fiasco-- is to maintain existing businesses with complete disregard to new businesses and our future.
A loonie in the crapper means higher interest costs and much a higher cost to importing goods like computers, electronics, medical technologies, machines tools and I'm sure the list goes on and on.
...and to think that our government talks about higher productivity? -- Hell... we've essential taxed our way back to an agrarian economy.
From Nortel to the Saskatchewan Wheat Board.
Regards,
Michael
Kastel... there's nothing wrong with "just" 10,000 shares. That's probably the correct amount to hold for such a crap shoot. At least this way, when they're "pleased" to release a so-so PR with microscopic grades -- you'll realise exactly how rare gold actually is.
Now having said that, it's good to see you in it. :)
Regards,
Michael
I agree with your point that good news travels faster than bad... seems like there too many people involved to ever keep it a secret.
But it could still be in the cards... underfunded and undercapitalised Chester Miller, who's so old that he has "pioneer" attached to his name is probably looking for a little more help than he's been getting. My speculation is that he's the one pushing for a major to fund this project. He gets too see his baby into production and he also gets the hyper-kinectic Albert Matter off his ass.
...and Albert? He's finally properly capitalised for his next solo gig. But then there's that new listing on The Frankfurt Stock Exchange...
We shall see...
Regards,
Michael
Jim... from the top of my head-- I think we've got competitive currency devaluations. What other reason could there be for continued USD strength? To keep goods flowing into your country we've got to keep pace, no? I mean, even Canada is doing this -- safe haven? HAHAHAHA!!!
You guys throw up tariffs, we'll destroy our currency.
Regards,
Michael
Trade deficit swells to record $38.5 billion in August
http://story.news.yahoo.com/news?tmpl=story&u=/ap/20021018/ap_wo_en_bu/us_trade_2
about NGT... again, I have a fairly meaningful position in this stock that I bought for an average price of $.35 about a month or so ago. If it's good news... a buyout perhaps? I'm dancing-- if it's operational news I'm pretty sure this stock couldn't get much cheaper than this.
I'm not worried....yet.
Regards,
Michael
Hi Marcos... boy, oh boy-- seems to me NGT is being halted in the same kinda way it was earlier this year for having too much promotional material on their web site. I wonder what they did this time?
Are you still watching Western Copper? If it rides into the three dollar range today I'll probably off-load the stuff I just recently bought for two and a half bucks. They must be close to an announcement... maybe a little more info on the area that produced holes number 23 and 24.
About Claude Resources... I love it. It's moving up because it is oversold, nothing else I'm sure-- They're a quiet bunch when it comes to PR-- very quiet, which we darn well know is hard on the investor.
Regards,
Michael
Copper market cautious over Indonesian ore supply
http://www.forbes.com/newswire/2002/10/18/rtr757801.html
Desperate Times for Brazil's Central Bank: David DeRosa
By David DeRosa
http://quote.bloomberg.com/fgcgi.cgi?ptitle=Latest%20Columns&touch=1&s1=blk&tp=ad_toprig...
Yes!!!!!!!
Global: What a Difference a Week Makes!
Stephen Roach (New York)
http://www.morganstanley.com/GEFdata/digests/20021018-fri.html
Jim... right click the image you want to post... in the properties dialog box you'll see the URL -- keep clicking on the address itself until it's highlighted and copy it to the clipboard.
http://www.kitco.com/images/live/gold.gif
should look like this (without the spaces)
[ chart ]www.kitco.com/images/live/gold.gif[ /chart ]
and so is Alamos Minerals
National Gold halted...
Matt... you forgot to tell'em to save the flippin' chart. If he has a subcription to stockcharts-- the chart must be saved.
Jim...
try this:
[ chart ]ichart.yahoo.com/z?s=pel.to&a=v&p=s&t=6m&l=on&z=m&q=b[ /chart ]
was:
http://ichart.yahoo.com/z?s=pel.to&a=v&p=s&t=6m&l=on&z=m&q=b
-- now remove the spaces from within the brackets and you should be all set.