More cheerleading for the junior gold shares

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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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More cheerleading for the junior gold shares

posted on May 13, 2008 04:49PM

On April 8, I published an article titled “The start of the run for gold (shares)”

http://www.goldmau.com/content/contr...

From that article:

“It makes no sense that the American mortgage crisis is impacting Canadian gold and resource juniors. One can now margin at 5% to buy oil trusts paying 15% dividend and gold juniors for less than $10/oz in the ground. I am confident the situation will reverse, offset not by higher interest rates but by higher junior stock prices.

Within two months and as soon as we hit the bottom of interest rates, I expect all the hoarded money to spill out looking for a new home as it simply does not pay to park money earning 2% with real inflation running at double digits. --John Lee, April 9 2008

Now a month and another interest cut later, we are indeed seeing revival of the Ventures Index and I expect it to break out of 2,500 level to test 200 DMA of 2,750 shortly.