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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: loantech	7/7/2006 2:14:19 PM
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Bob M likes one of EC's pics: The next Goldcorp at Red Lake Bob Moriarty Archives July 7, 2006 Where are we? It's a good question and I'm certain one even the most devoted gold bug is asking daily. We have been through a brutal correction and prices are down 25% from where we were only two months ago. We are in a resource bull market. The base metals may take a long extended vacation until they resume their climb; but for sure, gold, and even silver, are in a bull market and going higher, much much higher. I wouldn't discount the possibility of a general market crash this September-October, we are due one. If we get a top in August-September and then a crash, it will take the resource shares with it. So if you believe another 1929 or 1987 is coming this way, this year, prepare yourself to take some money off the table in the next 60 days. But gold and silver will recover soon. All of the base metals are contingent on Chinese demand. As Chinese demand goes, so goes the shares of the base metals stocks. This summer has brought some interesting trips. My last trip was to visit the Gold Eagle property of Exall Resources on McKenzie Island in the Red Lake gold district of Ontario. This district has produced over 28 million ounces of gold since 1930. Exall began in 1934 as the Gold Eagle Gold Mine and produced about 43,000 ounces of gold in the 1930s and 1940s. The company changed direction and names a number of times but the property stayed in the portfolio since 1934.

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