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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: Louis V. Lambrecht who wrote (32356)	11/16/2004 9:23:59 PM
From: Taikun	Read Replies (2) \| Respond to of 39344

12 troy ounces to a pound, so 1m pounds, about 500 tons.

To: Louis V. Lambrecht who wrote (32356)	11/16/2004 10:46:39 PM
From: basserdan	Respond to of 39344

Some math on the Gold ETF. If I don't mess with the decimals: 120 millions shares representing 1/10 of an oz. or 12 million Oz. Geez! Or .... 1 average day of ounces transferred in London Oooh! Hi Louis, Just passing through ... fancy meeting you here! <GG> 12 million oz and, to my understanding, no provisions for exchanging ETF shares for bullion unless one wishes to convert it in increments of 100K/oz. Sheesh! <sigh> Now THIS is the kind of Gold ETF that interests me..... (bolding mine... for emphasis) Now Trading - Gold ETF - ZAUWBA! Emanuel Balarie Euro Pacific Capital November 17, 2004 Many investors are speculating that with the emergence of a gold exchange-traded fund here in the U.S., the price of the metal could be positively impacted in the short-term. Indeed, this is a plausible scenario. Gold ETF's allow investors to buy gold bullion in small increments without the perceived hassles typically associated with the purchase of physical gold, such as storage and transportation costs. As a result, it is likely that some investors who had been turned off by these costs will relish in the fact that they can simply call their broker and place an order for gold in the same way they would purchase shares of stock. Investors and investment firms are already lining up to buy the gold ETF that will start trading on the NYSE in the very near future. What many investors may not know, however, is that they can beat the stampede and buy shares in a gold ETF that trades in Australia today! Here's how: The Gold Corporation of Australia offers an ETF trading under the ticker symbol "ZAUWBA." ZAUWBA trades on the Australian exchange, and one share represents a warrant to buy one hundredth of a troy ounce of fine gold. For example, if you wanted to buy 100 ounces of gold (approximately $44,000 at today's prices), you would buy 10,000 shares of ZAUWBA. The only hurdle to owning shares in this Australian gold ETF is that your broker has to be able to trade directly in that market to facilitate such a trade on your behalf. This is something that Euro Pacific Capital does every day for its clients, but call your broker and see if he can make it happen for you - you might be pleasantly surprised. This Australian gold ETF has many interesting features. Besides being able to get in ahead of the imminent "gold rush" of domestic ETFs, ZAUWBA also offers other possible advantages when compared to the gold ETFs that will soon be established here in the United States. The first is cost. The ETF funds that will trade on the NYSE and Amex will have an annual maintenance fee of 40 basis points. Conversely, the ETF trading on the Australian Exchange has an annual maintenance fee of only 33 basis points, a difference in fees that can add up on large purchases. ZAUWBA also gives an investor the ability to take delivery of the gold represented by his shares, a feature that may not be available through the new investment vehicles; every 100 shares exercised allow the investor to take delivery of 1 troy ounce of fine gold, a feature many might find attractive. Finally, there's the security aspect; when you purchase shares in ZAUWBA, your allocated gold is held at the 105-year-old, AAA-rated Perth Mint in Western Australia, a sovereign facility whose safety and reliability are renowned and one which is likely to be beyond the reach of any U.S. government agency (should the question of gold confiscation in a worst-case economic scenario ever re-emerge here in America). Regardless of where you purchase your shares, the emergence of gold ETFs, and the fanfare that has come along with them point to the possibility of an increase in the near-term demand for gold. Investors waiting with baited breath for the domestic gold ETF to begin trading should know: there's no need to wait! Emanuel Balarie Vice President/Investments Euro Pacific Capital, Inc. Newport Beach, CA ebalarie@europac.net 800-727-7922 www.europac.net An expert in Asia-Pacific markets, Mr. Balarie writes often on the region and its currencies and manages an investment team dedicated to providing clients access to value worldwide. Note: This opinion commentary is exclusively that of Emanuel Balarie, Vice President/Investments at Euro Pacific Capital. This is not a solicitation of any order to buy or sell. The opinion contained herein is deemed for information purposes only and is in no way warranted by us as to accuracy or completeness. Information contained herein is obtained from sources believed to be reliable. However, its accuracy cannot be guaranteed. Price information is for indication only. Given the nature of the information, Euro Pacific Capital and the persons associated with Euro Pacific Capital will not be responsible for errors and omissions - even if negligent or at fault - and persons trading on the basis of this information assume the risk of any errors and omissions. Copyright ©2004 Euro Pacific Capital, Inc. All Rights Reserved. 205.232.90.194