opinions fwiw:
GOLDSTOCK FORUM Got a question or comment about the Goldstock Letter or Trading Portfolio, or about gold trading in general? Post it in the Goldstock Forum and see what other traders have to say about it. You will need to provide your name and email address but may also use "Anonymous" and "Anon@anon.com" to complete the entries. Inappropriate postings will be deleted.
Name: Robert Matthew Walsh (Anon@anon.com <mailto:Anon@anon.com>) Subject: Comments: (Tuesday, August 31, 1999 at 11:36:29) Dear Mr. Marantette, The recent coverage you have received in the press is amazing. Unrelatedly, the concern you have expressed for possible congressionally unapproved gold sales and a possible increase in PPR gold reserves may be of greater systemic risk than Amendment One of the Bill of Rights. It is my impression that a certain former Secretary of the Treasury may also share this concern. Gold is not money and money is not gold. Nevertheless, it would seem imprudent for these united states to relinquish a controling interest in either. However tempting it may be to do so.
Name: Robert Matthew Walsh (Anon@anon.com <mailto:Anon@anon.com>) Subject: RE: Will Anglogold and Newmont Mining Corporation Merge? Comments: (Thursday, August 19, 1999 at 01:43:56) Does anyone have modestly recent figures for Anglogold Limited's working cash position and net cash position? S&P gives numbers for the year ending 1996 and Market Guide gives data for the year ending 1997. To take advantage of Newmont Mining's low cost operations would require 1.2 billion dollars to pay down debt. Would it not? 73 million rand is not enough, operating on the premis of an all stock trans- action. Even ABX would have difficulty pay- ing cash. 3.5 billion plus 1.2 billion . . . Furthermore, why pay the shareholders and the creditors now, when it may be possible to buy it just from the creditors later. If Newmont Mining earned 2 cents realizing a price of 281 dollars in the quarter ending on June 30, what can be expected in this quarter? Also, the recent hedging program may not be beneficial to this quarter's performance. Some cash would be necessary to enjoin in such arrangements, would it not? If Newmont announces earings in October which are once again unsupportive of the current valuation, which appears unavoidable, even if spot gold improves 20 points, to 280 dollars an ounce, it would be reasonable to expect the stock price to experience significant downward pressure. A testing of its more than ten year low of $13.25 would seem inevitable. Newmont Mining Corporation aside, I really would like to know the working and net cash position of Anglogold Limited.
Name: David Marantette (Gold@goldstock.com <mailto:Gold@goldstock.com>) Subject: RE: DAY Comments: (Sunday, August 15, 1999 at 16:18:50) Thanks for the comments on DAY. In our Goldstock Letter we still have only 29 stocks listed on page three. We have room for 30 and are still looking for another one. In the past we considered DAY, but in those days I believe DAY was a $2.00 stock. Ideally we would like to find a listed stock over $5 that is a gold or silver producer. Any suggestions?
Name: David Marantette (gold@goldstock.com <mailto:gold@goldstock.com>) Subject: RE: Gold and y2k Comments: (Tuesday, August 10, 1999 at 09:57:36) One of the things that strikes me about the expectations around the supposed rise of gold into the yearend coming computer crisis, is that it is so well known. If it is so well known, why aren't people buying gold now in droves and why isn't the price reflecting this fear? Most issues like this one that are supposed to affect the market get discounted well in advance. On other words, those that are in the know about this problem and really understand its implications, have probably already bought their gold. The people who want to buy gold to prepare for an eventual survival problem are going to buy what, and where are they going to buy it from? They are most likely going to buy U.S. gold eagle coins. They are minted here. They are known here. The trust level about the gold content of the coins minted is apt to be very high. Some of the U.S. gold eagle coins will be purchased through dealers, but all will eventually be bought from the U.S.treasury. Based on the demand from its citizens, the U.S.Treasury will mint enough coins to meet the demand. The U.S.Treasury will not be buying gold in the open market. It will however be a seller of all the gold we want to buy to cover ourselves in the event of a Y2k crisis. Now if the Treasury knew in advance how many gold coins they could sell and announced the sale of so much gold, there would be all kinds of political cries about how they should not do such a thing. Now they are doing it quietly and could sell millions of ounces of gold without disturbing the market. They could also supply a huge demand that will not show up in the market price of gold. The U.S. has been a major seller of gold in the form of coins. If the demand is there, could they be the equivqlent of the U.K sales? They are selling millions of ounces a year now and no one seems to think much of it. Gold sales for the Y2K problem? No doubt the U.S. Treasury loves it.
Name: David Marantette (gold@goldstock.com <mailto:gold@goldstock.com>) Subject: RE: collusion or price manipulation Comments: (Tuesday, August 10, 1999 at 02:09:46) Hi Dick, This has become a hot topic with Bill Murphy and GATA hot on the trail of the collusionists. The big problem is going to be the ability of anyone to prove a thing. I'm seeing a lot of figures pop up about how much the central banks have lent to forward sellers. Than there are all kind of figures about how much this bank or this brokerage firm is short. Where do these figures come from? And the various central banks, they report to no one. You're not going to see their figures come out even if they get sued. The best thing I think we can do is to watch market action. Regardless of who is saying what about who is long or short, the truth eventually shows up in the action of the market. If the shorts are really going to get squeezed, we'll see it in the price of gold.
Name: Dick Waldron (squantum@channel1.com <mailto:squantum@channel1.com>) Subject: RE: collusion or price manipulation Comments: (Saturday, July 31, 1999 at 19:27:52) 1) What is your opinion on the validity of the published comments about the possibility of gold price manipulation on a grand scale? 2) What is your opinion on gold price increase as a consequence of Y2K? 3) What is your opinion on gold price increase as a result of a stock market meltdown? Thanks.
Name: Bret Deblin (dtm3@gte.net <mailto:dtm3@gte.net>) Subject: RE: The Future of Gold Comments: (Friday, July 30, 1999 at 20:28:41) What do you think will happen to the price of gold for the remainder on 1999 and early 2000?
goldstock.com
|
