SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Precious and Base Metal Investing
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: ms.smartest.person who wrote (3515)5/4/2002 10:10:14 AM
From: russwinter  Read Replies (2) of 39344
 
This reference is true in spades and is what I wrote about extensively last year on this thread when there was no audience.

<"The major gold mining companies of the world will have a voracious appetite for replacement reserves (as the gold price heads higher now) as they chew through more than 30 million ounces of production a year." Precious Metals & Minerals Nesbitt Burns March 2002.>

I correspond regularly with David Vaughn, and really appreciate him for being one of the few to really get enthusiastic about this sector as it was lifting off. I agree with his LONGER term view on commodities and gold as nobody has been a greater proponent of the dearth of exploration/reserves theme than I.

But, it's sometimes the SHORTER term that kills speculators in extremely volatile sectors like the juniors. Many of these names are already up 300-400% from late last year and IMO are getting fairly (but not generally overvalued in the junior sector) valued. The more recent buyers may just be trend buyers and bandwagon hoppers without the conviction of a David Vaughn. Go back to this thread in October and count the postings in a one week period(usually from a handful), and compare it to now. And is the fact that Claude is the #33 most bookmarked individuals on SI really a buy signal? Where were they when Claude recommended BAY, CBD and MFL at a buck?

I would poise this question: if POG suddenly reversed course to 299 just temporarily, what would the latecomers do? Hate to rain on everybody's parade, but be careful out there, and stay focused on value (I'm not seeing a whole lot here now). Even if we head to 325, few deposits will work. I'd still stick to names that have the prospects for being in the top quartile (under 160 cash cost, and reasonable capex). And as most of the more well known names in that group have been marked up, one will need to find early stage names to get the big bagger returns.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News