Date: Fri Sep 09 2005 14:18
trotsky (JD) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
"droopy could easily double from where it is .."
not sure what prompted your change of mind, but i certainly agree. with $38 million of cash on hand and 550K oz. of cash flow positive production p.a. , DROOY currently trades at pretty much exactly a 50% discount to comparable mid tier gold producer stocks.
Date: Fri Sep 09 2005 13:45
trotsky (the Republican party) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
a trenchant analysis of the party of State Capitalism ( just so Bleuler knows what he actually supports ) :
lewrockwell.com
Date: Fri Sep 09 2005 13:41
trotsky (Hornberger on NO) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
refreshingly, amidst the cries for more bureaucracy and the alleged need to expand the state further in the wake of Katrina, Hornberger comes to the exact opposite conclusion:
lewrockwell.com
Date: Fri Sep 09 2005 13:35
trotsky (@MRB) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
MRB is probably one of the most undervalued gold juniors at this point. with Falconbridge paying the $10 million tranche that it needed to pay to claim its stake in El Morro, it is reasonable to assume that El Morro will be developed as long as copper and gold prices stay firm ( even in the event of a 20-30% correction in metals prices El Morro would be well worth developing actually ) . even under the most conservative assumptions the 30% stake MRB will be left with in that project should be worth well over $2 per share. similarly its Cerro San Pedro mine represents value of about $2/share, when compared to how similar projects are valued in the sector. in addition, MRB sports a strong balance sheet with enough cash on hand to see through the Cerro development ( they're only waiting for one more permit ) and no debt.
so there's a lot of upside potential from the current price of $1.42. in fact the stock is so cheap here that it looks like a potential take-over target.
Date: Fri Sep 09 2005 13:04
trotsky (@XAU and NEM) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
both the XAU and NEM have now clearly streaked past their respective peak open interest call strikes ( the 40 strike in NEM, the 100 strike in the XAU options ) .
the next level of resistance is offered by the 105 strike in the XAU ( this is however light resistance compared to that in the 100 strike ) and the 42.5 strike in NEM, which hosts the second biggest call OI in NEM's options. note that in the meantime, almost 12,000 puts have been opened in the NEM Sept. 40 strike, which indicates that 40 now should become near term support ( it's also the site of horizontal price support on the daily chart - see:
stockcharts.com
money has begun to flow back into the Rydex pm fund, but only very reluctantly so far ( $3.6 m. yesterday ) . this leaves room for more inflows - note that more vigorous inflows are also needed in order to confirm the price action at some point.
Date: Fri Sep 09 2005 12:49
trotsky (@Hitchens) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
when he manages to surface from the vodka-induced haze, the former Trotskyist popinjay Christopher Hitchens is probably the Iraq war apologist possessing the greatest intellectual prowess in the ranks of the laptop bombardiers. his latest apologia turns out to be so weak that it is taken apart by J. Cole with consummate ease:
"The British hawk gives 10 reasons why Americans should be proud of the Iraq war. He goes 0 for 10."
salon.com
Date: Fri Sep 09 2005 12:24
trotsky (the State and Katrina) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
Lew Rockwell's commentary on the dismal failure of the bureaucracy:
mises.org
Date: Fri Sep 09 2005 12:23
trotsky (@more 'Arabism') ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
the Israeli journalist Nir Rosen, one of the few who actually were in Fallujah during the massacre ( as opposed to being 'embedded' far away from the action and being fed the Pentagon-approved version of events ) , has spent 18 months in Iraq and interviewed Islamic terrorists and their sympathizers everywhere from the Palestinian territories to Pakistan, in short someone who possesses the kind of first-hand knowledge our esteemed laptop-bombardiers so sorely lack, delivers a brief, but scathing indictment of the official version of what motivates terrorists and what the occupation supposedly achieves:
mms://nmmstream.net/newamerica/grievance_rosen.wmv
( copy&paste link into browser address bar - wmv file , 8 minutes duration )
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