Oldtent Archives 2007 - 2008

After looking through a lot of charts, I think this coming run in the PM stocks is basically a “revaluation higher across the board”, including a revalutation higher in PM reserves due to such a massive rise in the 3 year average price of Gold and Silver.  I’d look to see the PM explorers explode upward toward the end of the move, after rising to some degree with the sector.  Don’t know what stocks you own, but the odds are that your submarine life is destined to end in the second half of 2008, IMO.  What are some of the stocks that you own?

 In the larger cap area……………..looking for the potential of $60 to $62 GG in July.

GR

GS came out to announce higher Oil prices just this week.  When they start saying those things we are usually a few weeks away from a reversal………..like clock work.

daily crude - i believe the current price is the farthest in absolute dollars above the 200 dma that it has ever been since the beginning of the bull run years back.

USO ended the day a little higher as the short squeeze continued in the aftermarket

It’s starting to feel like the run will never stop, like the bull dozer that keeps grinding the bears straight uphill

and it scares the crap out of me……I have a huge PM Junior PF that has taken a severe beating, but like a fool us bugs hold on, because the fundamentals don’t make sense and we know gold will go higher.  However the PM juniors are at prices lower than they were when gold was $400.  My PF is about 40% under water…..now……the “consolidators” come along and start making buyout offers for the juniors….and to be nice  they offer  a 20% - 30% premium over todays prices!!!  Excellent, all of my juniors will be bought up for a 10% - 20% loss from where I bought them and, I held on to them  for 4 years through a lot of agony and pain….and I am left holding the bag….I see this as the very real scenario…..  If it’s true, my only way to mitigate the pain is to buy more at these levels and try to average down before the acquisitions begin….problem is you need money for that…..guess I will go on margin….

is he saying that these shares are being shorted deliberately so ABX can acquire on the cheap?

If that is what he is saying then I agree. Gold shares have no basis in reality. The whole sector is ridiculous. Look at GFI. Analyze what the gold is worth in the ground. Assuming a very weak resource base of 200M oz at 800 gold is 160B, So basically GFI cannot get any of the gold out of the ground at a decent profit. Fine. AT 2000 gold we have 400B, so what is GFI worth then? 26 a share?

Makes no sense to me other than there is deliberate efforts to keep them down.

Was going to say something along the lines of grin’s post  (20:02) but he beat me to it.  Have read your posts for years, here and the other place;  your thoughtfulness and thoroughness are always welcome.   Best.

sabregold, in case you missed jsmineset tonight.

Dear CIGAs,

I know more than any other writer on the consolidator subject.

The Consolidator has made every effort to dress up as the quiescent producer.

Now the Consolidator has joined the Asians and Middle East in competition to consolidate the junior production and exploration industry.

This is fact. Believe me I know.

The stockholders of the junior exploration and production companies do not, nor do they believe this is the real reason behind the depression in prices.

The Consolidator is out there shopping hard.

Regards,
Jim

Counter Offer:  6% for 6 years plus $50,000

Take the $50,000, buy $30,000 physical gold and $20,000 physical silver, should be worth a minimum of $100,000 in 2011.

A Wisconsin senior citizen drove his brand new
Corvette convertible out of a Milwaukee dealership.

Taking off down the road, he floored it to 80 mph,
enjoying the wind blowing through what little hair he had left.

“Amazing,” he thought as he flew down I-94 towards
Madison, pushing the pedal even more.
Looking in his rear view mirror, he saw a State
Patrol car behind him, blue and red lights flashing.
He floored it to 100 mph, then 110, then 120.

Suddenly he thought, “What am I doing? I’m too old
for this,” and pulled over to await the Trooper’s arrival.

Pulling in behind him, the Trooper walked up to
the Corvette, looked at his watch and said,
“Sir, my shift ends in 30 minutes. Today is
Friday. If you can give me a reason for speeding
that I’ve never heard before, I’ll let you go.”

The old gentleman paused. Then said, “Years ago,
my wife ran off with a Wisconsin State Trooper.
I thought you were bringing her back.”

“Have a good day, Sir,” replied the Trooper.

….Mme Crown has been offered the folowing deal….If she resigns her mortgage agreement (on the Inn) to lock in 7% for 7 years…..(from her present 5 year 5% Mortgage which still has a year to go)…..they will give her up to 50 Thousand on signing…For Home Improvemente or whatever use she wants…!

…..Deal or No Deal….?

….No Deal….she says!

One year ago today, it was at $629.22. Today, GOLD’s 300 DMA closed at $774.24 - another All Time High. And like many PM stocks, some brought to our attention here today, GOLD’s MACD, coming off it’s 2nd most oversold level in the last 3 years, is getting ready to also cross over to greener pastures. Clear and simple….things are looking mighty good, imo.

JBI

….thats Paul McCartney…

Taseko’s Gibraltar mine suffers transformer failure

Taseko Mines Ltd (C:TKO)
Shares Issued 140,366,430
Last Close 5/7/2008 $5.25
Thursday May 08 2008 - News Release

Mr. Russell Hallbauer reports

TASEKO MINES LIMITED: ELECTRICAL TRANSFORMER FAILURE AT GIBRALTAR MINE

An electrical transformer supplying power to the concentrator facility at Taseko Mines Ltd.’s Gibraltar mine has failed. The cause of the failure is being investigated.

A replacement transformer has been sourced and is being readied for shipment to the Gibraltar Mine. Copper production will be curtailed for approximately two weeks until the new transformer is operational.

Russell E. Hallbauer, President and CEO of Taseko, commented, “This transformer failure is an extremely unfortunate event for the mine as our operations team have been making significant strides in getting our SAG mill up to full capacity. While immediate metal production will be impacted, the mine will continue waste stripping and pit development sequencing and the SX-EW plant will continue to produce copper cathode. Our operational objectives of achieving daily throughput of 55,000 tons per day are on time and the schedule will not be affected by this power outage.”

GDM Index’s star performer today - UP 8.18%

www.metal-res.com/

JBI