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Gold/Mining/Energy : Agnico-Eagle Mines Ltd. - AGE (U.S. AEM) -- Ignore unavailable to you. Want to Upgrade?

To: TATRADER who wrote (1148)	9/20/2000 12:58:14 AM
From: Robert J Mullenbach	Read Replies (1) \| Respond to of 1612

For AEM Stockholders eyes ONLY. going to do more buying, with new production coming, and reserve drilling, AEM should pop like DBLE will, Gas and Gold. Le Metropole Members, MINI MIDAS: API OIL DATA BULLISH / GOLD TENSION BUILDS FURTHER The API Oil data figures were released at 5 PM EDT and were constructive for the price of oil - once again. Indications prior to the report were that: Crude oil stocks would be up .8 to 1.2 million barrels Heating Oil stocks would up 1.4 to 1.7 million barrels Gasoline stocks would be up .3 to .6 million barrels. In fact, they came out with: Crude - down a surprising 2.035 million barrels Heating oil - up only 1.251 million barrels Gasoline up only 21,000 barrels Crude Oil rose after these numbers were issued. It would appear that some sort of energy crisis will be upon us this late Fall/early Winter and their will most likely be a mini heating oil panic when the first really cold weather shows up. There are calls for increased OPEC production. What no one is talking about is that non-OPEC production is decreasing right now. Next year the oil scarcity problem is supposed to be alleviated. Few are talking about the fact that oil demand is expected to go up by 1 million barrels to 1.5 million barrels a day in 2001. This has to extremely bullish for the future price of gold. As a long time trader and market observer, I can feel the tension in the financial markets. Many are at extremes. Certainly that is the case for the Dollar (high), gold (low) and oil (high). In addition, many feel that the US stock market is extremely overvalued. Some sort of market chaos is right around the corner. Certainly, there is continuing realization in the financial world that the US BLS inflation numbers make little sense and that something is very amiss with the gold market. GATA is being heard on that one! Fasten seat belt time could be upon us soon. Tomorrow, the US trade deficit numbers will be announced. Nobody has paid any attention to our astronomical trade deficit in so long, it is hard to get up for it any more. Maybe this time will be different. Recently, the Euro and Pound have been trashed, but the Swiss France is noticeably diverging from the Euro while the Yen has been very steady. The XAU, Homestake and Barrick Gold made 52 week lows today. All 3 are sad cases. The XAU is now part copper index (but, don't blame the copper price which is very strong, so how bad is the gold part of it). Homestake does not hedge, but despite being presented with voluminous evidence of what is really going on the in gold market, their management appears to still be clueless and does not react to the evidence handed them. One has to seriously wonder about Barrick and their great hedging prowess and program. If all is so wonderful, as Barrick management touts, why 52 week lows? My take on part of the problem. If Homestake (and others) do not get their act together, they will be liable in the future to negligence law suits by ex-shareholders who pitched Homestake stock at the their share price bottom . Lawyers will have a field day because they will know that senior management has been made aware of what is really going on and if they do not explain it to shareholders, it might be construed as negligence. If Homestake shareholders were to be fully informed of what is being seriously discussed about what is really suppressing the gold price, many of those shareholders might choose to hold on for the inevitable gold share bonanza that is coming. Barrick may have a much bigger problem. One is that they may be overly hedged and too exposed to the coming gold price explosion and two, it may be proven in the future that they have been complicit with the gold cabal in holding down the price of gold. JP Morgan, a gold cabal member, is one of their main bullion bankers and Morgan has an office in Toronto on the floor directly below that of Barrick. Barrick Gold stock could be poison. Certainly there will be subpoenas about their hedging activities after the price of gold explodes and few can explain why it occurred.