Gold Juniors

[JBmurc]

http://www.newsmax.com/Finance/georg.../16/id/589153/

"Soros nearly doubled his ownership in a U.S. gold-mining companies ETF and initiated new stakes in other gold producers, suggesting the big names in hedge funds continued to have confidence in the yellow metal, Reuters reports.

Soros Fund Management increased its stake in Market Vectors Gold Miners ETF to 2.05 million shares valued at $54 million at the end of the second quarter, compared with 1.16 million shares in the first quarter.

"Gold-mining stocks are considered relatively cheap. It also suggests that Soros may be thinking gold prices are near the bottom of the range," Bill O'Neill, partner at commodities investment firm LOGIC Advisors in New Jersey, told Reuters.

Soros also initiated new gold investments including 1.33 million shares in call options of the Gold Miners ETF valued at $35 million, and 1 million equity shares in Allied Nevada Gold Corp.

"Gold has become increasingly attractive to hedge-fund managers who are long-term investors as real interest rates remain negative," said Axel Merk, a Moneynews Insiderand chief investment officer of the $400 million Merk Funds, a family of currency mutual funds and the Merk Gold Trust, a gold ETF.

Investors pay close attention to the quarterly filings because they provide the best insight into whether the so-called smart money has changed its sentiment toward gold as a hedge against inflation and economic uncertainty.

In September 1992, Soros made at least $2 billion on his shorting of the English pound forced the Bank of England to devalue the currency and leave the European Exchange Rate Mechanism (ERM).

[Daytr]

Yep I like these guys JB. I'm not sure why the market hasn't taken much notice of them. Perhaps when they get some production running n a few months. I know the CFO Tim Manners reasonably well & he is a good guy.

[Skol]

Yep I like these guys JB. I'm not sure why the market hasn't taken much notice of them. Perhaps when they get some production running n a few months. I know the CFO Tim Manners reasonably well & he is a good guy.

I've never seen any poster anywhere that's a name dropper like daytr.
I've got a neighbour like this, in fact he was here today, telling me about the ex-PM he knew, the ex-Mayor and so on, very tedious and completely unnecessary.

[Daytr]

Oh Skol, if anyone took you seriously they may get offended by your posts. Luckily that's not the case.

When I'm investing, I actually find it quite handy to know the management, 1) at least you have a view on their integrity. 2) you then have a direct line into the company if you want to speak to them, again quite handy.

Skol, you would obviously prefer to just invest blindly. By all means go ahead.

Having visited Perth on business about 50 times, visiting mining companies, you tend to get to know a fair few MDs & CFOs. I certainly don't know all of them but probably the majority, but sorry if that' name dropping or showing off, its just a fact that can be useful. Hell if I wanted to name drop I think a few Hollywood stars or Sports stars would be more the ticket. Just the other day while having a coffee with Angelina .... LOL

[Skol]

Oh Skol, if anyone took you seriously they may get offended by your posts. Luckily that's not the case.

When I'm investing, I actually find it quite handy to know the management, 1) at least you have a view on their integrity. 2) you then have a direct line into the company if you want to speak to them, again quite handy.

Skol, you would obviously prefer to just invest blindly. By all means go ahead.

Having visited Perth on business about 50 times, visiting mining companies, you tend to get to know a fair few MDs & CFOs. I certainly don't know all of them but probably the majority, but sorry if that' name dropping or showing off, its just a fact that can be useful. Hell if I wanted to name drop I think a few Hollywood stars or Sports stars would be more the ticket. Just the other day while having a coffee with Angelina .... LOL

Hope you rang Janie and put her straight about terrible gold returns.

The fact that gold returns have been lousy and stockmarkets have been on a tear just goes to show that it's not 'who you know' after all.

[Daytr]

Well the fact that the figures were completely incorrect & the correct results should have been twice what was stated & not even actually supplied by ABC Bullion, despite what was originally posted as the source. As such I find no need to contact Janie Simpson of ABC Bullion as the whole post was a figment of the poster's imagination.
Once again I apologize for using my knowledge & experience for correcting posts that are wrong on every level, including data used, results of the data & quoted source of the data, all of which were incorrect & by some margin, circa 100% in some cases.
But by all means keep your head buried in the sand.
Next !

[Daytr]

Goldies taking a hiding today. Pretty much where I thought there was overvaluation are the ones being hit hardest. OGC & NST down 8%, NCM down 4%, whereas TRY has hardly moved. RSG is under 50c! Glad to be on the sidelines & I can smell opportunity once again, however time to be patient as there is likely to be more pain yet, particularly for those stocks that have run hardest of late, like OGC & NST imo. Still look pricey again imo.

[Hoop]

Hmmm..... MSR in a trading Halt

[Daytr]

My guess is capital raising they are running pretty low on cash.
It will be interesting how they finance the Kyrgyz project.
Are they likely to get any government or perhaps IMF style funding?
Do you know what the capex is likely to be?

[JBmurc]

Yep Cap raising should go down like a cup of cold sick.........esp if it's not underwritten

ELM announced a 9.5mill raising fully underwritten with free opts and the market smashed them 20%+