Joel, one thing to remember, if they do prove up the same or double the resources currently at at Kilgore, I think this discovery could easily translate into a mine given that all the infrastructure has been completed by Placer, and Echo Bay.
You are not the only one who thinks that gold is in favour. I found this on the LTU thread at stockhouse.
By Ian Karleff
The Financial Post
Pension funds load up with gold
Canadian stocks fell sharply yesterday despite the World Gold Council's assertion that pension funds in the U.S. are adding bullion to investment portfolios to hedge against the risk of a worldwide recession.
Five pension funds surveyed by the council bought 50 tons of gold worth around US$476 million in the past 12 months, compared with no gold purchases in the previous year, said Hugh Williams, manager of the council 's center for public policy studies, at a briefing at the East Asia Economic Summit in Singapore.
Pension funds have not bought that amount of gold in decades, so "I would argue that that places gold in a new context" as an investment option, Williams said. He also speculated that the buying of gold would likely grow in the coming years - both in the U.S. and elsewhere. ……
The Toronto Stock Exchange gold and precious metals subindex has soared 71.4% since bottoming on Aug. 31, but has fallen back 6.5% in the past two trading sessions.
The price of gold sank to a 19 year low of US$271.13 an ounce in August on selling by central banks in Belgium, Australia and Argentina. The metal has since made up much of that loss, closing
yesterday up US30¢ at US$296.60 an ounce on the Comex division of the New York Mercantile Exchange. ……
The old fashioned idea of holding gold as a haven is coming back," said Doug Upton, a metals analyst at HSBC James Capel in London. "In the past two months, you would have been better off in gold than U.S. dollars," he said.
All we need is an increase in reserves and we will have a real winner on our hands.
As for Blue Hill, I understand that they will drill ASAP.
One more note, I have heard that LTU will have a story in the next issue of Investors Digest, written by George Werniuk mining analyst.
It seems that the word is getting out about the potential of LTU, sooner or later people will be jumping on board. |
