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Targa, Panamera Turbo
Join Date: Aug 2004
Location: Houston TX
Posts: 22,366
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Gold to $730/oz by Year End
Balance of probabilities favours gold at US$730 by year-end, average $765 in 2008. That was the conclusion drawn by Dr. Martin Murenbeeld, one of the most respected economists analysing the gold market, in his presentation to the Investing in Americas Summit, the conference run by Global Investment Conferences in Nassau this week, reports Mineweb.
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Michael D. Holloway https://simple.m.wikipedia.org/wiki/Michael_D._Holloway https://5thorderindustry.com/ https://www.amazon.com/s?k=michael+d+holloway&crid=3AWD8RUVY3E2F&sprefix= michael+d+holloway%2Caps%2C136&ref=nb_sb_noss_1 |
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Registered
Join Date: Mar 2003
Posts: 10,334
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W000! Time to start prying/melting off all those pins from the back of my pentium and lower chips to save and melt... I've probably got at least an ounces worth if not more.
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“IN MY EXPERIENCE, SUSAN, WITHIN THEIR HEADS TOO MANY HUMANS SPEND A LOT OF TIME IN THE MIDDLE OF WARS THAT HAPPENED CENTURIES AGO.” |
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Unconstitutional Patriot
Join Date: Apr 2000
Location: volunteer state
Posts: 5,620
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If Bearnanke lowers Fed rates, gold might not perform too badly.
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Join Date: Mar 2004
Location: Summerville, SC
Posts: 2,057
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Quote:
The big issue though, is the fiat currencies around the world. Governments are running the printing presses non-stop, all that paper is increasing at a pace a lot faster than new mines will ever come on line. Edit: I'll add too, that it wouldn't surprise me to see gold spike well past the $730/oz mentioned above. The gold market is very small compared to the world's currency and stock markets -- even a small portion of overall investment capital being directed into the gold market, would have a huge impact on gold's price. Any number of world political and/or economic events could drive investor demand for gold. Last edited by competentone; 04-10-2007 at 04:21 PM.. |
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Targa, Panamera Turbo
Join Date: Aug 2004
Location: Houston TX
Posts: 22,366
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This is one post I am going to keep an eye on - as well as the $500 bet that Chaney will resign or die before his term ends!
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Michael D. Holloway https://simple.m.wikipedia.org/wiki/Michael_D._Holloway https://5thorderindustry.com/ https://www.amazon.com/s?k=michael+d+holloway&crid=3AWD8RUVY3E2F&sprefix= michael+d+holloway%2Caps%2C136&ref=nb_sb_noss_1 |
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I've got 300 dwt of scrap sitting, I'm letting it go this week. Anything over $650 is gravy.
Jim
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down to jap bikes that run and a dead Norton |
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Targa, Panamera Turbo
Join Date: Aug 2004
Location: Houston TX
Posts: 22,366
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Mining News:
Ivanhoe Mines shares (TSX:IVN) rose above their 10-year high Tuesday after the company said it signed a draft agreement with the Mongolian government for development of the huge Oyu Tolgoi copper-gold project in the South Gobi region. Aura Gold shares climbed 15 per cent after the company said it has arranged financing to be used to develop its Arapiraca project in Brazil, reports Canadian Press. The stock was up 14 cents to Can$1.07 in early trading Tuesday after the Toronto-based miner said a group led by Canaccord Capital Corp. agreed to a $70-million private placement financing. The agreement includes 87.5 million subscription receipts at 80 cents each, exchangeable for common shares, with conditions attached. Aura Gold said it plans to use the money to explore and develop Arapiraca, other projects and for ''general corporate working capital purposes.'' Minera Andes released results of the 2006 exploration program at the San Jose project in Santa Cruz province, southern Argentina, where production is scheduled to commence in the second quarter of this year. In 2006, a 21,241-metre drilling program increased silver and gold reserves by approximately 71% from the reserves reported in October, 2005. Using a cut-off off grade of $75/tonne and assuming metal prices of US$500 per ounce gold and US$8.50 per ounce silver, proven and probable mineral reserves at December 31, 2006 are 1,958,430 tonnes averaging 7.2 g/t gold and 450 g/t silver, containing 453,348 ounces of gold and 28,334,242 ounces of silver. Mine life has increased from 4.3 years to 6.8 years, with average annual production forecast at 60,633 ounces of gold and 3,119,533 ounces of silver. The San Jose project is held by Minera Santa Cruz SA, the joint venture corporation co-owned by Minera Andes (49%) and project operator Hochschild (51%).
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Michael D. Holloway https://simple.m.wikipedia.org/wiki/Michael_D._Holloway https://5thorderindustry.com/ https://www.amazon.com/s?k=michael+d+holloway&crid=3AWD8RUVY3E2F&sprefix= michael+d+holloway%2Caps%2C136&ref=nb_sb_noss_1 |
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Join Date: Jan 2002
Location: Long Beach CA, the sewer by the sea.
Posts: 37,750
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I don't think anyone would have done too badly if they had been scrapping and saving copper. I wonder what the comparables are between gold and copper. I don't follow the metals market, I just know what copper products cost these days.
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Targa, Panamera Turbo
Join Date: Aug 2004
Location: Houston TX
Posts: 22,366
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Sierra Gold Corporation (Other OTC: SGCP.PK) has recently delivered samples to SGS Laboratories in Toronto, Canada from its ongoing bulk samples program (first quarter of 2007). The company hopes to validate results from last year's samples which were taken from two separate pits. Assay results for gold were approximately .9oz/ton (26 grams) and 2oz/ton (6 grams) respectively.
Geologist, Alieu Madhi's report on the potential gold values for the Pampana North property was based on .0329 oz/ton. The most recent gold grades are at least six times higher than those reported by Mr. Madhi. Additionally, the property's potential gold value of $586 million reported in the December 12, 2006 news release was based on gold price of $626.50 per ounce. Sierra Gold's geological team will require further investigation and exploration to define the gold value and develop the property. The program will also include the hard rock portion of the property. Gold prices closed yesterday 678.20 (second London fixing). Increased demand, world political instability, and the weakness of the U.S. dollar are major contributing factors to this continue rise in gold prices. Sierra Gold is engaged in the exploration and development of gold and diamond properties in West Africa. The company will continue to conduct extensive research and development of high quality mineral exploration projects.
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Michael D. Holloway https://simple.m.wikipedia.org/wiki/Michael_D._Holloway https://5thorderindustry.com/ https://www.amazon.com/s?k=michael+d+holloway&crid=3AWD8RUVY3E2F&sprefix= michael+d+holloway%2Caps%2C136&ref=nb_sb_noss_1 |
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Join Date: Sep 2001
Location: Tucson AZ USA
Posts: 8,228
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Well, as for copper. here in AZ they are openiong old copper mines again. I would say the % increase in recent history would outdo any other metal. Haven't checked that; just a gut feeling.
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Bob S. former owner of a 1984 silver 944 |
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Registered
Join Date: Mar 2004
Location: Summerville, SC
Posts: 2,057
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Quote:
That's not to say there are not opportunities in the OTC markets, it is just that companies not listed on the major exchanges, usually represent the "Wild West" side of investing -- it is not an area most investors should venture into. |
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Targa, Panamera Turbo
Join Date: Aug 2004
Location: Houston TX
Posts: 22,366
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True - But when these penny stocks hit, they hit like a twister in a trailer park!
Actually, they can serve as a bellweather for the industry if put into perspective.
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Michael D. Holloway https://simple.m.wikipedia.org/wiki/Michael_D._Holloway https://5thorderindustry.com/ https://www.amazon.com/s?k=michael+d+holloway&crid=3AWD8RUVY3E2F&sprefix= michael+d+holloway%2Caps%2C136&ref=nb_sb_noss_1 |
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