John,
A mention of Rubicon today at the end of an article in the Globe & Mail.
Tip Sheet
A daily compendium of market analysis and insights
By ANGELA BARNES
Tuesday, May 28, 2002 – Print Edition, Page B17
Gold on the rise
The price of gold will continue to improve over the year and will likely average $310 (U.S.) to $315 an ounce for the year, Wendell Zerb, an analyst with Vancouver-based Pacific International Securities Inc., said in a report released late last week. He added that he will reassess that forecast if the U.S. dollar continues to weaken. The recent slide in the U.S. dollar has helped boost the price of bullion; so has nervousness about terrorism and world conflicts. Gold is seen by investors as a safe haven. It is also seen as a hedge against rising inflation.
With the global economy continuing to improve, worries about inflation have cropped up in some quarters. Mr. Zerb also noted that mine production of gold is flat. "Although we are optimistic about the bullion price, we expect short-term corrections will provide buying opportunities" for gold stocks, he said. Mr. Zerb noted that demand for gold stocks appears to be strengthening and has branched out from the larger-capitalization producers to the mid- and small-cap producers and, more recently, into smaller, high-risk, generally illiquid exploration concerns. He said the latter group of stocks are for "risk-tolerant investors." He then listed a number of such issues that have characteristics he likes. Included on his list are Radius Explorations Ltd. (RDU-TSX-VEN), X-Cal Resources Ltd. (XCL-TSX), IMA Exploration Inc. (IMR-TSX-VEN), Rimfire Minerals Corp. (RFM-TSX-VEN), Orezone Resources Inc. (ORZ-TSX), Rubicon Minerals Corp. (RMX-TSX-VEN) and Altius Minerals Corp. (ALS-TSX-VEN).
globeandmail.com. |
