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Strategies & Market Trends : John Pitera's Market Laboratory
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To: macavity who wrote (6751)9/11/2002 1:31:02 PM
From: Yorikke  Read Replies (2) of 33421
 
looking or investing in only exploration gold plays is like forgetting to remove a bullets from the revolver when playing Russian roulet. You can be secure...that you are going to blow your investment brains out. Stick to the companies that have deposits and that are actively mining, these are called Majors. They buy discovered deposits from exploration firms, or simply buy the Junior. They co-explore with juniors who have good potential ground.

Exploration companies are called Juniors. Junior mining firms search for the deposits. The Vancouver and Toronto exchanges are filled with them. Ghosts of threads exist on SI, but the number of participants has dwindled as people have died, lost jobs, wives, businesses, reputations, and self respect. Its been a long bear.

Yes, if you are lucky you can make a killing on Juniors. But you wont be. The Vancouver exchange is rife with cons. Even 'honest' firms do things that will curl your short hairs on a regular basis. Firms disappear on a regular basis, so you have to know the people who are running the con...company. They have the reputations and the pull.

Gold is on the edge of some heavy weakness in its cycles. Right now is not the time to invest.
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