Big Valley Resources (BV-ASE) Message Board

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Gold/Mining/Energy : Big Valley Resources (BV-ASE)

BV 12.87

-0.4%

Dec 26 3:59 PM EST

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To: bcjt who wrote (202)	10/5/1999 2:18:00 AM
From: Spiney	Read Replies (6) of 231

I've been wondering why BV has been doing some solid volume lately... Just struck me we have all forgotten about the gold mine just sitting there waiting to get back into operation! Gold went through 330.00 awhile ago! Perhaps BV will heat up again? ------------------------------------------------ MAD BOTTLENECK IN AUSTRALIAN GOLD MARKET Sydney, Oct. 5 (Bloomberg) -- Gold rose 4 percent to a two-year high in Asia as speculators, producers, investment fund managers and banks raised bids to buy the precious metal in a rally that's seen the price jump 22.4 percent in nine days. Gold for immediate delivery rose as much as US$13.15 an ounce, or 4.1 percent, to US$330.50 an ounce in Sydney interbank trading, the highest price since October 1997. Dresdner Kelinwort Benson bullion trader Paul Lee said he's never seen anything like the move to buy gold to cover forward and futures positions in his 10 years of gold trading. "It's like there's a fire and everyone's running toward the same exit door. We have banks, producers, hedge funds all wanting to do the same thing at the same time. We are seeing a supply bottleneck. Producers are backing off from selling. They are standing aside and not selling any more," he said. ------------------------------------------------ spiney :-)

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