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

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To: TheBusDriver who wrote (66851)	8/26/2009 8:03:01 PM
From: loantech	Read Replies (1) of 78418

From Pescod daily: As we mentioned yesterday we are a little bit concerned about gold...with jewellery demands slipping dramatically at a time like this (when you’re worried about paying the mortgage, feeding the kids or your future no money is spent on baubles and jewellery) and meanwhile sales of gold coins have started settling down and also interest in gold ETF’s the big player in gold patch of late is also starting to settle down. For those looking for inflation hedge well there is no sign of inflation according to most analysts til probably 2011 at the earliest. But not everyone believes this. Nicolas Campbell one of Canaccord’s gold guys suggests that we are now looking at one of the strongest months ever for gold and that’s the month of September. Traditionally over the last decade or so, Campbell says, we’ve seen a roughly 8% move in the month of September and he ties that to the Indian wedding season that gears up. October is not such a good month for gold but then you go into the time of year, November to February that are also part of the good cycle for gold stocks. It’ll be interesting to see if that Indian demand for the precious commodity does pick up as it traditionally does this time of year but in the meantime gold stocks which had been big movers earlier this year and have done little of late except for the few discoveries now go into their Christmas season. Anyway, when we corner Campbell for his top picks, a top 3 list that always seems to change. Right now Keegan Resources remains his top pick and he is looking forward to drill results that should be in shortly and potential land acquisitions as well. (For those looking for his latest report on Keegan which is from way back in July e-mail Debbie at debbie_lewis@canaccord.com). His second pick is one that would surprise many gold observers and that’s Canplats, a story that he suggests hasn’t done much of late, and with a poor balance sheet and little money in the bank is obviously looking at having to do a financing sometime soon. On the other hand Campbell notes that it is being valued now at a mere $22 Canadian per ounce in the ground vs. the industry average of almost $60. Campbell says “I like it when no one else seems to want to get behind a story.” “And it feels” he admits “as if there is a huge overhang on the stock at this time”.

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