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IN REPLY TO A POST BY brettan, Mon 08/03/04 09:27pm

Hi Brettan,


I would assume it's a typical boredom / uncertainty combo.


GBG have a very short mine life in the absence of further discoveries. I'm sure you know they are / have drilled underneath their existing open cut mine with some high grade intercepts and a re-interpretation of the orebody. They immediatley put priority into furthering the drilling here and initially indicated the results would be out by end of Jan. So far nothing more heard.


They also said the BFS for the Gossan Hill joint venture would be out soon (I think around the end of this month if memory serves me ,it's in the latest q'ly report I think). So maybe there is uncertainty about whether this is a goer. They will put the ore through their existing plant if it's on.


They are still of course the great little speccie player with a great piece of dirt so any positive news should see the SP recover somewhat.


The only other thing that worries me is how few shares the directors are holding, (other than McSweeney). One would think they would grab a few more if they thought the company was going to be a raging success.


There has been a few big accumulators over the past couple of weeks.



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GOLD BACK OVER THE $400US MARK. I would expect to now see a blue sky run as predicted by the experts earlier this year when they said expect a small downturn before a run up to $450US.

What is everyone elses thoughts?

I fthis is the case there are a lot of undervalued Gold stocks on the market at the moment. Commodities generally worldwide are breaking all tme resistance levels not even thought of since 1980.

IMHO this will be similar to the .com bubble but I am happy to ride the wave short term.

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  • 5 weeks later...

I personally don't buy the fact that central banks are limiting selling Gold. I especially feel europe are slowly accumulating it. And if they aren't they should be.


To much fiat money being push in to the world econony and with world debts at all time highs, there has to be a correction of some sort, although I feel the time scale is between 5 and 15 years.


Although gold stocks should be very profitable over the next few years, I personally would be buying gold coins and not keeping them in central banks, as we all know what happens when things really go Pete Tong.


I have a nice hole in the desert, along with my AK, gold coins and a blow up doll to see me through.


It's late, so I'll stop ranting on.


See you all in hell


Easy life





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The Chinese SKS is the weapon-of-choice for Nth Qld nut-cases and conspiracy-theorists! http://www.sharescene.com/html/emoticons/devilsmiley.gif


But they bury Bundy rum, not gold coins as insurance for future uncertainty http://www.sharescene.com/html/emoticons/icon13.gif

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I calculate that Gold has traced to its objective this run. The recent drop from it's high of 433 to 416.2, then up again to 425.1, when extended down from the 425.1 to 1.618 of the intial drop (16.8) gives a principal objective of 397.8.

This was reached last night when it dropped to 396.7 then recovered.

So for the moment, I believe there will be some consolidation, and a possible move up from these current levels.


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Hello Pythagoras.


Looks like Gold is still slipping. currently US$396 and falling. Doesn't look good for resource stocks tomorrow.


I'm off with my detector to the alpine high country near Adaminaby (Australia) for a few days prospecting to find some of the "real" thing on an old Chinese worked goldfield dating from the 1860's.


Bugger the sharetrading for a few days! http://www.sharescene.com/html/emoticons/biggrin.gif



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