To:John Barendrecht who wrote (333) From: paul ross Tuesday, Jul 8, 1997 11:33 PM Respond to of 80051
Peter Munk, CEO of ABX, was on CNBC today. Said a lot of psycological damage has been done to the gold market by the Australian sales and the possible future sales by European CB's. He sees this changing when EMU central bank makes a final decision on what to do with gold reserves, in a 6 to 9 month time frame. He sees this as a time for potential major wealth creation, with the demand for gold rising and the supply falling off due to mine closures and little capital available for new development.
To:Bobby Yellin who wrote (326) From: Abner Hosmer Tuesday, Jul 8, 1997 11:43 PM Respond to of 80051
Bobby- Nice to hear that there is no mania going around. I guess I was the only maniac. What a relief. Hey, we must have the same friend, you know, the one who told us to get into a safe index fund...Why didn't I listen? Oh, that's right, I'm the maniac. 5-10 years ago corporations thought you were nuts if you suggested they buy back their shares. Forget about that, they are all great buys now. They are increasing shareholder value, helping investors defer taxes. Australia, why should they hold gold, they are one of the largest producers in the world, they know where to find more. So a few miners are out of work. Has Japan lost 22 billion on US assets? Oh well...
I think we need to send out some more of those newsletters to get this market rolling. You know the ones, "battered market, the worst is over", "the puzzle pieces are fitting together nicely", "invisible gold bull", wait till H.G.Wells hears about this..
Tom
ps- I'm a buyer today ;-]
To:John Barendrecht who wrote (333) From: Pat O'Brien Wednesday, Jul 9, 1997 12:04 AM Respond to of 80051
John, this thread now has a posting from most news agencies in the world. These people "sell"papers folks and negative news sells! Note who the so called expert analysts on gold are that are being quoted. many of the very same "experts" that had seen the ore at Busang I believe. John Ing a gold expert?? Perhaps, in his own mind.Please go back a read the charts, gold is going to bounce and bounce it will. Some advise, buy into every viable junior resource gold stock you can before next fall. Forget the majors that is not where the bucks will be made on the rebound, Go back and check out1983 1984 and then 1987, 1988 and 1989. It all right there for you. Respectfully, Pat O'Brien http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=1725513
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