Echo Bay Mines, anyone (anyone) ((anyone))? Message Board

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Gold/Mining/Energy : Echo Bay Mines, anyone (anyone) ((anyone))?

ECO 33.56

+1.5%

Nov 6 4:00 PM EST

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To: Roebear who wrote (179)	11/24/1997 8:46:00 PM
From: Charger	Read Replies (1) of 300

Roebear - would like your input. I thought I had done enough research but this weekend spoke with someone that sent me spinning and digging. This man seemed knowledgeable, informed and an intelligent thinker. He has been trading commodities for some time. He hauled out a moving average type chart for me to look at in gold. It was his impression that gold had tried a couple of times in the past six months to find support and reverse its downward trend. It was clearly unable to do so. He then handed me a silver metals chart and I noticed that silver was starting to climb. In asking why, he said he thought that gold was in an oversupply and silver was in a shortage. He also thought that there was a paradygmatic shift in the way the "world" valued gold. The explanation for why silver was currently climbing is that medical fields, etc. have found that there is curative value for silver in the human system, and that (the Japanese, I believe he said) are now coating steering wheels of cars with light silver dust as our bodies can incorporate these molecules through the skin. (Please dont ask me details and specifics as our conversation was not long enough for me to glean such.) That conversation stimulated me to call a commodities broker. I asked him the same questions. He also could not answer the Swiss Bank's "miscount" of gold, but did state they were dumping gold on the market and his opinion was that there was much too much gold. He said that he had talked very recently to a London broker and attempted to get a bottom on the POG (guesswork, obviously). The London broker said that he thought the POG needed to go to $250 and stay there for a while. I asked him what did "a while" mean. He said 6 months. I said that would put a lot of mines out of business during that time. He said, "Exactly. If all the mines were to quit producing for the next ten years, there would be no shortage of gold." Any feedback you have on this would be welcome. Thank you. Mr. Miller - would be interested in your interaction as well, if you have not sworn off of me completely. <g>

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