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Gold/Mining/Energy : William Resources - WIM-TSE

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To: Brad Humphrey who wrote (961)	3/12/1998 1:32:00 AM
From: Tico	Read Replies (1) of 1326

The near future of Gold prices to be decided shortly! For those of you unaware, the European Central Bank (ECB) will be announcing their intended reserves of gold in early May '98. There is much anticipation for this announcement as it will certainly influence what the price of gold will be for the remainder of '98. Early indications all seem very positive. It is widely accepted that there will be "some" reserves held, how much is unknown. Anything over 7% is expected to be a good sign for gold. The World Gold Council has initiated a $3 million dollar lobbying campaign to try and stimulate the price of gold. Their primary goal is to discourage European central banks from selling their gold. The demand for gold hit record highs in '97, and is expected to grow for '98. Supply was not significantly greater for '97 and is expected to fall in '98. So why the low gold price? The major reason is the number of shorts on gold. Consider the amount of people that will scramble to cover their shorts combined with the renewed belief in gold if the ECB makes a positive announcement in May! We all know WIM is strongly correlated with gold. May may be the turnaround month for our company. Remember, William has some discontinued operations waiting for the price of gold to stabilize above roughly $320.

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