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Howdy seaview. Welcome to the site. I would assume by the name that you enjoy a seaview like myself. Seaview I'd be interested in the link please for the program as I tried unsuccessfully to access it. Thanks in advance.
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  • 2 years later...
  • 2 years later...

'Dr Doom' predicts end to metals rally nRebecca Le May August 7, 2009 - 2:59PM

Gold was the shining light at this year's Diggers and Dealers mining forum but it was not enough to offset the gloomy outlook presented by the famed US economist known as "Dr Doom". The precious metal featured heavily at the annual conference due to the ongoing strength of the gold price and the setting of the forum in the historic gold mining town of Kalgoorlie, Western Australia.

Kalgoorlie, which sits literally on the edge of one of the world's largest gold mines, the aptly named and ever-growing Super Pit, has been hosting the world's third-largest mining conference for 17 years.

But the other topic on everyone's lips was Nouriel Roubini, the New York University Stern School of Business professor of economics and international businessman famed for predicting the onset of the current global economic recession.

Debate was fierce as to whether Prof Roubini - who predicted the global crisis as far back as 2005 - had been overly pessimistic in his assessment of the worldwide financial outlook.

The consensus was that Prof Roubini had offered a realistic, level-headed and insightful summation.

Delegates faced the grim realisation that while the worst of the downturn may be over, the gloom will continue at least until the end of calendar 2009.

And while there are signs of an impending recovery, there is also significant risk of a "double-dip" recession if government fiscal stimulus policies are withdrawn too soon, Prof Roubini warned.

His keynote presentation appeared to more than satisfy delegates hungry for a spot of crystal ball gazing after no-shows by traditional drawcard speakers such as Andrew "Twiggy" Forrest of Fortescue Metals Group Ltd and Robert Friedland of Ivanhoe Australia Ltd.

Prof Roubini flew into Kalgoorlie for only a few hours on his first visit to Australia, amid unconfirmed reports he was paid $100,000 for a one-hour appearance at the conference. His eloquent, albeit bearish, speech was US-focused. It emphasised that recovery from recession depended largely on how the downturn was handled by the world's largest economy, which triggered the financial tsunami when the bubble burst in its sub-prime housing market. Prof Roubini agreed with the well-distributed theory that the emerging economies China and India would remain the prime drivers of worldwide growth as they continued the path to urbanisation and industrialisation.But he also warned that an end to commodities stockpiling in China could halt the current rally in metals prices. Some of the most upbeat presentations at Diggers and Dealers were by iron ore miners, who collectively projected a return to strong demand for the steel-making commodity from China. Copper producers were also bullish while nickel miners cautiously welcomed a recent rebound in that metal's price. This was music to the ears of the record 1,900 delegates attending the sold-out event, which attracts a global audience. The attendance numbers bucked earlier predictions the conference could be a wash-out as companies cut spending on networking functions due to the economic downturn. The three-day forum showed off its glamorous side, with billionaire coal baron Ken Talbot flying into town in his personal Lear jet and the display of $1.2 million gold bar produced by Silver Lake Resources Ltd in the exhibition marquee under tight security. Diggers and Dealers also maintained its hard-partying reputation. Notwithstanding official events, it was difficult to buy a well-earned refreshment at a local pub without being exposed to the sight of scantily clad young barmaids known as "skimpies".

At least delegates have a full 12 months to recover before next year's marathon chin wag.

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  • 7 years later...

Be interested in the vibe there. From the goldies that I keep an eye it is still all fairly meh in the gold sector even with a AUD gold price that should be supporting a bouyant sector. Maybe I am following only dogs and there's plenty of hope and optimism around (?).

 

Saw a bit of ramping for Breaker Resources (BRB) on hc the other day which apparently has released some impressive hits at their project in WA which is near by Silver Lake's operations. But even that seems to be not cheap: I think their market cap is about $90m and they have about $7m cash on hand. Add say $100m to develop the field and you have something that is similarly priced to that of Ramelius but with all that development risk still there.

 

Anyway let's see how it gets reported.

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Haha - only BDR being ramped on HC today? Geez, I hope not - no wonder the HOT sp is not so hot - they need more rampers :)

 

Yes, gold stocks are hard to pick at the moment, IMO. I've not had any great success with them of late so have given up. A far cry from 2012/13 when the POG was close to $2,000 mark and any flea bitten gold explorer was on a high. BDR and SLR were worth dollars, not cents. Those were the days :biggrin:

 

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Looks like Diggers & Drillers event won't be a happy experience for Michael Fotios of EGS

 

According to this article.below, contractors to EGS are planning to protest outside the venue during his presentation on Tuesday. GR Engineering claims EGS owes them $9.9 mil and the pair will be taking the fight to the Supreme Court

 

-> https://www.businessnews.com.au/article/Pro...elds-at-Diggers

 

Another "peaceful" protest also taking place at the D&D is by a group protesting Aboriginal justice issues

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