Doing some study on Overhead supply here and value,
Here is just a guess of mine, remember last run up, that was nice, Swiss Investors ?? well any way, once we break out over that high, Over head supply will come into play,
just like I predicted on CDE,( check CDE thread , see who was posting in the cemetery. it came back from the dead ) once we break , stock will have to rise to get people to sell. Gold price will be a factor here.
I am glad I sent in a check for next week, because this is one of those deals that is hard to get.
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read below, if you are worried about Gold going down, I don't think so.
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Value of each share, Well lets say, This is totally unreal.
Just look at, if this is true, and really is there, where they built the recovery Facility,
" 12 Ft wide zone grading in excess of one ounce per ton, could host 1-2 Mil ozs."
forget the leach pad, LOL
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So as you can see, Gold is my game, Hobby is my name.
I have played gold stocks for 30 yrs for a hobby.
so here we go, again, Monday morning.
I suspect you will see Gold up again. contrary to what others think.
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If my bank looked shaky, I would buy Gold too.
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Subj: Japan buys gold
Date: 2/8/2002 7:04:17 AM Central Standard Time
Gold surged over $306 early this morning as the
Japanese public bought hugely on Toccom. Volume
exceeded 1mm ozs again (eg 100,000 comex contracts)
and open interest jumped 1.15 Mm ozs. The normally
laconic Mitsui-Tokyo said:
"What a day! Japanese public investor's buying
supports gold market strongly today..
"See Article below
Friday, February 8, 2002
Gold Prices Hit 3-Year High As Japanese Seek Out
Havens
TOKYO (Nikkei)--Gold is becoming more popular among
individual investors looking for a safe investment,
with the price of the precious metal going above 300
dollars per troy ounce on Wednesday on international
markets for the first time in two years. Gold prices
also rose to a three-year high on the domestic market
on Thursday, with high prices in Japan helping to push
up the price abroad.
A downtown Tokyo retail shop run by Mitsubishi
Materials Corp. (5711) offering gold for sale was so
crowded during business hours on Thursday that sales
staff could barely get away for lunch. "Gold sales
since the start of this month have been 100% higher
than those seen in January," one shop employee said.
Tokuriki Honten Co., a large gold bullion trader, said
that total Thursday gold sales at its domestic retail
outlets, including some 80 affiliated retail stores,
were the highest since the beginning of January last
year.
"The number of first-time buyers who purchase 1-3kg is
rising, in addition to a widening range of buyers in
terms of age," an official at Mitsubishi Materials
said. At the same time, say some retailers, there have
been a number of cases where large-lot buyers purchase
more than 30kg (retailing for about 42 million yen) of
gold at retail stores.
Trading volume on the Tokyo Commodity Exchange reached
a 28-month high of 340,647 contracts for 1kg of gold
on Thursday. Individual investors bought, while large
traders sold contracts for arbitrage trading on
overseas markets.
Many traders are selling gold in Japan and buying it
abroad. "Small-lot gold purchases in Japan are one of
the major factors boosting international gold prices,"
says one official at Mitsui & Co. (8031). |
