Tuesday, April 12, 2011
Monday, April 11, 2011
Sunday, April 10, 2011
Saturday, April 9, 2011
Gold and the markets
It's been quite a week for the precious metal, closing at $1474.69. I was expecting a larger pullback in commodities, as were many market commentators, but it didn't happen. Just proves that trying to "forecast" prior to any move in the market is dangerous, and usually wrong especially if that prediction is popular. In other words, when everyone expects something the market will usually do the opposite.
The U.S. markets have also proved to be resilient and not showing any major pullback. I think the U.S. dollar is becoming more worthless, and in the face of that, even holding an equity has more value that holding the paper itself. What we're seeing is the beginnings of major inflation, and it will hit the markets too. This means that even stocks and the general indexes will continue their move upwards, as they too will be price adjusted for inflation.
So what to do? I continue to hold core holdings in gold stocks, as well as some of the physical metal. Silver looks like it's headed to $50 an ounce, and gold might hit $1500 next week. Will we see a pullback? We might, but I'll use that opportunity to add to current positions.
Stocks that I particularly like and am holding. (closing prices as of Friday, April 8, 2011)
CRJ - Claude Resources - $2.47
SGR - San Gold - $2.92
ORM - Oremex - .375
K - Kinross - $15.90
NGD - New Gold - $11.00
Stocks I like, but don't currently own.
BRD - Brigus Gold - $1.59
BSX - Belo Sun Mining - $1.45
YRI - Yamana - $12.74
OSK - Osisko - $13.34
RVS - Riverstone Resources - $1.02
LEX - Lexam VG Gold - .94
The U.S. markets have also proved to be resilient and not showing any major pullback. I think the U.S. dollar is becoming more worthless, and in the face of that, even holding an equity has more value that holding the paper itself. What we're seeing is the beginnings of major inflation, and it will hit the markets too. This means that even stocks and the general indexes will continue their move upwards, as they too will be price adjusted for inflation.
So what to do? I continue to hold core holdings in gold stocks, as well as some of the physical metal. Silver looks like it's headed to $50 an ounce, and gold might hit $1500 next week. Will we see a pullback? We might, but I'll use that opportunity to add to current positions.
Stocks that I particularly like and am holding. (closing prices as of Friday, April 8, 2011)
CRJ - Claude Resources - $2.47
SGR - San Gold - $2.92
ORM - Oremex - .375
K - Kinross - $15.90
NGD - New Gold - $11.00
Stocks I like, but don't currently own.
BRD - Brigus Gold - $1.59
BSX - Belo Sun Mining - $1.45
YRI - Yamana - $12.74
OSK - Osisko - $13.34
RVS - Riverstone Resources - $1.02
LEX - Lexam VG Gold - .94
Thursday, April 7, 2011
Murgor Resources - News
Murgor Released news today with first results from its phase 1 drilling at the Golden Arrow Mine in Timmins Ontario. I can't figure out why the market isn't more excited about this particular company and it's been a real dog for years. Something doesn't sit right, and yet these results are good, IMO.
MURGOR NEWS RELEASE
Best results from holes A11-09 to A11-12 are shown below:
MURGOR NEWS RELEASE
Best results from holes A11-09 to A11-12 are shown below:
Click the above link to see full press release.
Please visit their website for more information on this property, and others that they have in their portfolio.
In addition to the Golden Arrow property in Timmins they have the following:
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