Terry:
Many thanks for the reference.
On a different topic, many CFZers have been PMing me with respect to GSL. To save saying the same thing to each, I thought I would summarize the situation as I see it.
Months ago, and as I had suggested would occur, the larger gold miners started to quietly pinpoint the smaller gold explorers that are sitting on large PROVEN reserves, with a view to acquisition or joint venturing.. For me, this was the signal that these well informed folk were expecting the price of gold to finally begin to move.
That quiet sifting of the juniors by the more senior companies is now picking up steam, driven by an additional factor,..... the perceived need to establish an escape route with respect to the tightening noose of previously fixed hedging operations. For those who are perplexed by the fact that gold stocks seem to be relatively firm even as the price of gold remains volatile, this may provide part of the answer.
I have suggested the patient accumulation of this stock in spite of the market's presumed unhappiness (its Columbian gold deposit location) because the deposit is large, rich, well drilled, and well documented (by Stathcona) and there are lots of mining organizations that are more than comfortable in that South American jurisdiction.
I am aware of the fact that the company has held many meetings with several mining organizations over the last several months. It strikes me that if the same folk keep showing up for more meetings, that they are not attending to discuss the weather. Time will tell, but I continue to nudge my gang into further accumulation, viewing it as just too delightful a situation to miss out on.
Best, Earlie |
