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Message: Double edged sword
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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.
This interview is worth a listen to for everyone but especially 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 and anyone holding short positions will get crucified. The question is: Are we going to have a short squeeze here?
Glorieux
4 Recommendations
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