For those interested in gold stocks

[Mick100]

Which are you favorites Mick?
and why?

Hi arco
I currently hold CXC, OGC and CQT

CXC is a silver miner (it's the only silver producer listed on ASX)
Once paljamaro is on line early nexy year CXC will be a genuine low cost silver producer - will be quite prfitable at $10-11/oz with gold credits.
They seemed to have scraped enough money together to complete the project.

OGC - main operations in NZ (GOLD), doing about 275000 ozs per yr
They should have been making big money at this point but they put in place some terrible hedges in NZD. They have half of next two yrs production hedged at NZD$775 while by my reckoning they have cash costs of NZD$900/oz
So with current hedging and current gold price they are a marginal producer - but I'm assuming that they will survive. I expect gold to go to US$1500-2000 in 2010 in which case OGC will fly

CQT- silver , gold and copper exploration co (OPEN PITTABLE)
Proving up what appears to be a large deposit - have about 3m ozs (gold equivilent) of proven, probable and infferred so far. They have $28m cash which will be enough to see them through to development phase

Personally I fell more comfortable putting money into cashed up explorers like CQT than marginal producers like OGC

[Aussie]

Personally I fell more comfortable putting money into cashed up explorers like CQT than marginal producers like OGC

Mick, I've gotten pretty burned on my Canadian Jr's. Almost all are great companies with terrific deposits and bright futures, so haven't sold any but boy. . . have I have taken a whipping. However, I think their time is coming very, very soon. IMO, the major producers will benefit first as the POG rises.

Personally, I would not chase the minnows right now. When the big money comes looking (which it will soon) it will flow into the big name miners first. Barrick, Newmont, Anglo, Goldcorp, Yamana, Newcrest. (NYSE:GG) is the pick though, my best performer by a country mile.

[Mick100]

With the economic hardship ahead there is likely to be an increased nationalist attitude in many countries. ie, they will discriminate against foreign companies especially those involved in extraction industries such as the miners.

If gold miners begin to make large abnormal profits then country risk is very likely to become a problem in many parts of the world - south america, africa, russia and indonesia come to mind. In fact it's a much shorter list to think of the safe countries in which to operate mines which, IMO, would be US, canada, australia and mexico

[Mick100]

Mick, I've gotten pretty burned on my Canadian Jr's. Almost all are great companies with terrific deposits and bright futures, so haven't sold any but boy. . . have I have taken a whipping. However, I think their time is coming very, very soon. IMO, the major producers will benefit first as the POG rises.

Personally, I would not chase the minnows right now. When the big money comes looking (which it will soon) it will flow into the big name miners first. Barrick, Newmont, Anglo, Goldcorp, Yamana, Newcrest. (NYSE:GG) is the pick though, my best performer by a country mile.

Yes aussie, the big ones will move first but a good explorer will move alot more later on as the money moves down the food chain. I'v had money in PM miners since 2002 - I can wait another couple of yrs

PS, i'V only bought into CQT (EXPLORATION STOCK) over the past 6 months - ave price around 30c. I know these stocks have been hammered but they look as if they are stabilizing now

[Aussie]

If gold miners begin to make large abnormal profits then country risk is very likely to become a problem in many parts of the world - south america, africa, russia and indonesia come to mind . . .

You are dead right Mick, and don't forget to add Venezuela to your list. I've lost 90% of a small investment in Las Christinas thanks to Mr. Chavez via Crystallex. Ouch!

http://www.crystallex.com/Projects/V...s/default.aspx

[Timo]

Glass Earth Gold (TSX/NZAX- GEL)looks interesting.Biggest explore portfolio onshore in NZ and some JV's with Newmont.

Disc.GEL/HGD/OCG

[JBmurc]

Saturday, January 3, 2009

Barrick Gold, JP Morgan Chase Sued for Gold Fraud
by BLANCHARD & CO.

NEW ORLEANS, La. -- An anti-trust lawsuit filed today accuses
Barrick Gold Corp., Toronto, and J.P. Morgan Chase & Co.,
New York City, of "unlawfully combining to actively manipulate
the price of gold" and making (US)$2 billion in short-selling
profits by suppressing the price of gold at the expense of
individual investors.

The suit was filed by Blanchard and Co. Inc. of New Orleans,
the largest retail dealer in physical gold in the United States,
and by Blanchard clients who bought gold bullion. Blanchard
(www.blanchardonline.com) is paying the costs of the suit,
which asks the federal court to terminate the trading
agreements between Barrick and J.P. Morgan Chase and
other, as yet unnamed bullion banks. Blanchard believes
its clients have suffered substantial losses as a result of
Barrick's and J.P. Morgan Chase's unlawful price
manipulation, anti-trust violations and unfair trade practices.

[Dr_Who]

How does one take on the market and manipulate the gold price? You must have to have one huge cash reserve to hold down the gold price? This is just amazing!

[airedale]

Hi JB, your post sent me on a trawl....consider this...

http://news.silverseek.com/GoldIsMoney/1206572052.php

[Aussie]

How does one take on the market and manipulate the gold price? You must have to have one huge cash reserve to hold down the gold price? This is just amazing!

. . . and a lot of physical gold reserves.

http://www.sharetrader.co.nz/showpos...&postcount=138