Errol Flynn congratulation GFY welcome to Caledonia Mining Corporation (TSE:CAL) long TEAM -
you were right on - why is it so low in price - the indig. has been baked in it since a long time - it is on CAL's web site and on every news release - for a long time -
Gold LCNS Since September 6 (3 reporting weeks) gold has declined a net $224.95 or 12% (from $1,874.87 to $1,649.92 Tuesday) while the large commercial net short positioning (LCNS) fell by 61,031 contracts or 26.8%.
166,683 contracts net short is the lowest LCNS since May 5, 2009 (160,445 then with $896.75 gold).
465,414 is the lowest COMEX open interest for gold since February 1, 2011 (462,907 then with $1,341.10 gold).
Since August 2, (gold $1,659.23), gold drove up to test the $1,920s and round tripped back to about $1,650 for this COT report. As it did the large commercial traders got the heck out of 42% of their net short positioning (from 287,634 to 166,683 contracts net short). So, in effect, since August 2 gold has dropped a net $9.31 or 0.6% but the large commercial net short positioning plunged a net 120,951 contracts or 42%. – Gold is very close to where it was August 2, but the commercials are hugely less net short, 12.1 million ounces less net short at virtually the same price today.
Producer/Merchant’s reduced their net short positioning by 19,531 or 10.7% for the week.
Swap Dealers were down to just 4,270 contracts net short gold, having covered or offset 11,414 contracts for the week. Swap Dealers have reduced their collective net short gold positioning by a stunning 87,424 contracts or 95% just since August 2.
465,414 is the lowest open interest for gold since February 1 (462,907 then with $1,341.10 gold).
The Eurozone crisis is getting worse daily which is good for gold and when Greece defaults and the contagion spreads across the Atlantic their is going to be a stampede into gold -
GOLD chart TA Fib correction is done and Au LT bull strong running UP -
frequent reaction trend 62% of prior trend -
new bull trends will be often 162% of the previous correction - :-)
the Au bull will run to way over fiat$2000 per ounce - :-)
about 162% of prev. correction take Au to about fiat$2025 per ounce -
E.g.... Caledonia Mining Corporation is a well diversified company -
The Blanket Gold Mine located in a Blanket gold field - Zim have many advantages -
CALVF GOLD's low cost production of Gold $585.0 per ounce for the production leader -
CALVF's BLANKET GOLD MINE Production Au 40,000 oz/year -
CALVF has some advantages with comparison to USA and Canada - e.g., low taxes; Corporate Income tax at 25% - lower labour cost but a happy work force - Indigenisation program Mugabe talked about for 20 years - but the leading Peoples opposition don't want - year 2015 is a deadline - self declared king pin Mugabe 88yrs old is sadly in serious cancer sickness - Blanket Gold Mines Project - the capacity of the secondary and tertiary crushers was increased to over 2,000 tpd and the capacity of the rod mills was increased to 1,800 tpd. The product from the regrind mill is pumped into a carbon in leach ("CIL") plant consisting of eight, 600 cubic meter leach tanks equipped with 45 kW agitators where leaching at 50% solids and simultaneous adsorption of dissolved gold onto activated carbon takes place. The CIL plant has a design capacity of 3,800 tonnes of milled ore per day. Elution of the gold from the loaded carbon and electro winning is done on site. Gold is deposited onto wire wool cathodes, the loaded cathodes are acid-digested and the resultant gold solids are smelted to produce gold bullion of approximately 90% purity, prior to Blanket exporting it directly to Rand Refinery in South Africa for final refining and sale. The full proceeds of sale (i.e. before payment of any royalty) are paid to Blanket's foreign currency account with a commercial bank within approximately 7 days of receipt of the gold by Rand Refineries. http://www.caledoniamining.com/blanket3test2.php
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