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Gold/Mining/Energy : United Keno Hill, UKH, Toronto**** Opportunity Knocks!
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To: Alan Whirlwind who wrote (1146)5/9/1999 5:20:00 PM
From: David Luton  Read Replies (1) of 1348
 
"lets hope Silver takes off now" I think you are a little early but
I think that it is coming by this fall.

Alan: You and I have never met but it appears we both have the same
problem in being a little early in minor silver stocks as you
call them. (It wouldn't surprise me if we are both shareholders in
some of the same firms (CFB, ASM etc.) in addition to UKH.

After Fridays announcement by the Bank of England I agree with the
Privateer's comments on Gold. "In any discussion on Gold or the
price of Gold, the first thing that must be realized that gold is
a POLITICAL metal.

Similarly we must realize that Silver is an 'INDUSTRIAL' metal and
worldwide industry like the general stockmarket continues to do
fine (much to my surprise. I never was very good at forecasting
when ballons would deflate).

The importance for silver is that this same industrial activity continues to draw down inventory levels of silver. Using CPM
data I figure we are now below 300 million ounces and will likely
be below 200 million by year end.

This represents about one years supply, and I think before then we
will start to see the effects of the inventory squeeze finally
making itself felt in prices.

When is hard to tell because it won't take much action by interested
industrial firms such as Kodak, to have a big influence.

Prior to this we have one last chance to dollar cost average at
these low prices for companies like UKH. What are your favourites?

Maybe we should seek some insight from Claude Cormier or the
other silverbugs.

(We can go offline if you like)

Dave Luton
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