Re: BNN on the Greek debt crisis and junior gold

Welcome to the Equinox Gold Hub On AGORACOM

Reply New Message

Prev Message Back To Forum Threaded View Next Message

Francis Dube

Rank: President [?]

Points: 44898 [?]

Votes: 625 Score: 3.5 [?]

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)

Re: BNN on the Greek debt crisis and junior gold

in response to

BNN on the Greek debt crisis and junior gold

durban1

posted on May 08, 2010 02:39PM

The Greek debt crisis is a double-edged sword for junior gold companies profiting from high bullion prices while struggling to raise cash. The Close speaks with chairman and CEO of U.S. Gold and Lexam Explorations Rob McEwen.

Monday, May 10, 2010 4:30 PM ET / 1:30 PM PT

No double edge sword for CMM or GNH. CMM is cash flow positive since last quarter and GNH just finished raising $4 Million if the overallotment is filled which I am hearing will be. So for the guys here heavily invested in both, we should do very well. Jim Sinclair did an interview on Thursday during the market crash and called for gold to hit $1650. CMM will be very profitable is situation like that.

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/5/6_Jim_Sinclair.html

This interview is worth a listen to for the non gold bugs. My favorite part is that the paper gold guys that are shorting gold have been overwelmed 5 times in the last 2 weeks by buyers of the physical gold. If this trend keeps up, manipulation of the gold market will become much harder.