Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : At a bottom now for gold? -- Ignore unavailable to you. Want to Upgrade?

To: Roebear who wrote (905)	11/15/1997 10:59:00 AM
From: hedgehog	Read Replies (1) \| Respond to of 1911

Roebear, In speaking with an insider at Placer Dome Inc., they are forecasting a gold price of $250/oz in fiscal 1998 and basing their exploration and operating cash cost decisions on this. In the longer term, I believe they are looking at 2000 to 2002 for the POG to hit $400/oz again. This tells me that accumulation @ present levels may be a bit premature and waiting a few more months should provide good buying opportunities to accumulate stock at or near their bottoms. Your thoughts? Regards, Nick.

To: Roebear who wrote (905)	11/15/1997 12:25:00 PM
From: John D. McClure	Read Replies (2) \| Respond to of 1911

Hi Roebear, I copied the arden link with my comments in to the IPM thread and got barely a ripple of response so far. I don't think many understand the implications of what is going on and the effect on their investments. The news release from IPM indicated modified fire assay numbers for silver at 80% of the value of the gold numbers. Sounds like IPM should be in a good position once they get to resource status and they can crank silver (as well as other PM's) out cheaply in a year or so. Of course, I am not surprised the threaders ignored me for all the Sturm und Drang going on over there right now. By the way, one of the reasons I don't post much on Kitco is it is subject to episodes of verbal warfare I just don't need to get caught up in. *JDM* Long John

To: Roebear who wrote (905)	11/15/1997 6:59:00 PM
From: Eakole	Read Replies (1) \| Respond to of 1911

Hi Roebear, Thank you for posting the following about the Swiss Bank Corp. <New York-Nov. 14-FWN--THE COMEX DIVISION OF NYMEX TODAY reported that Swiss Bank Corp., who will cease to act as a Licensed Depoistory for the storage of gold and silver deliverable against COMEX's gold and silver futures contracts on Nov. 21, 1997, has informed the exchange that Swiss Bank has been incorrectly reporting the amount of gold and silver eligible for delivery against the respective contracts. Due to an error in reporting stocks, the Metal Warehouse Statistics from the close of business on Nov. 13 incorrectly showed a total of 3,811,872 troy ounces of silver and 75,284 troy ounces of gold at Swiss Bank Corp. The actual total was 335,203 troy ounces of silver and 43,696 troy ounces of gold. Today's inventory report, dated Nov. 14, 1997, correctly reflects the transfer of all Swiss Bank Corp. gold and silver inventories to Republic National Bank. > In reference to what I think. . . I am greatly encouraged by this news as I have long felt that the numbers pertaining to precious metals have been manipulated for many years by many governments and central banks, including those in the GOOD 'OL US of A. It is important to remember that the physical gold in the treasury is hidden from the publics view and that this cloak of secrecy is always an invitation for bureaucrats and politicians to indulge themselves in every manner of finanacial obscenities, political corruptions and skulduggeries. <a time-honored Slick Willies Specialty> Having said that, the price of Gold and the value of the Gold Stocks, greatly but not entirely, depend on the publics perception of reality and not on reality itself. In this regard I believe the public treasury has been raped and and the public conned by our <most honorable elected and appointed servants> most of the time. In correcting these abuses there is one of two possible senarios that I suspect will be played out. . . First. . . . a <HUNT> style squeeze on the national treasurys and the central banks . . . . or a surer and much slower technical base will form that will bring precious metals back to its historical role. Personally, I prefer both to happen at the same time, but I believe the former will be the case. It will take time. . . Eakole