<take on this extremely negative gold post by Zeev Head >
George, I guess what gets me about this is that a guy can just matter of factly state that 20,000 tonnes of CB gold is just itching to be sold without citing any rhyme or reason to his claim. In truth of fact, there is an agreement (WAG)in place even if they were so inclined (which only a few are). Or just dismiss the bull case as nothing more than GATA conspiracy claims (I've never said it was). At least a contributor like Bob Johnson (who appears lukewarm to gold) thinks about it, studies it, and debates it in a factual manner, but Zeev's (and apparently many others) cursory dismissal of a precious metal with thousands of year of history behind it, just annoys me to no end.
For example, for a .05 oz deposit to be economical today every other facet: recovery, stripping, tonnage would have to be perfect. Those are rare, and the guy acts like it's commonplace. And what does he base his "rapid" new supply at 350 on? Just to explore for it will take a whole four or five year cycle, and old high cost mines aren't free to restart. |
