Jim Rogers Correctly Predicted Gold Would Fall To $1200, And Now He Thinks It Could Go As Low As $900

As several of you who know my thoughts on the subject of gold, I have been saying for the past 2-3 yrs that the Feds will do everything in their power to surpress the price of gold on the COMEX to keep the U.S. dollar alive. If Rogers is correct about the direction for the price of gold, and I believe the Feds will do everything in their power to make it happen, this would put allot of the major gold mining companies on the chopping block!! http://www.businessinsider.com/jim-rogers-gold-complicated-bottoming-900-1200-2013-7#ixzz2Z7e53VLH As I mentiond in my previous post, Silverado Gold Mines projected production cost $500/ton would allow the company to mine at a profit, while the average production cost for the majors $1,100/ton. $900oz Gold will probably force the majors to mothball some of their projects while selling off the low grade projects to survive. With world wide high demand for physical gold soaring, Silverado Gold Mines could be among the few with a sign on the front door "Open for Buisness" selling the flavor of the day, high grade "Gold-Antimony" All the company needs to do is find the right financing to put the Nolan Creek project into production, and the world will beat a path to their front door!! GRIM REAPER's "DD" Work

Barrick Mines on the Block
Ben Harvey, The West Australian July 15, 2013

Speculation was mounting yesterday that Barrick Gold was edging closer to a sale of its key WA assets, with the Anton Billis-run Tribune Resources tipped as a suitor for the East Kundana gold mine.

The world’s biggest gold miner declined to comment about television reports of a possible sale to Tribune, a joint venture partner in the East Kundana project, but it is well known that the shock correction in the bullion price has triggered a rationalisation of Barrick assets.

The Granny Smith, Lawler and Darlot mines of the South Yilgarn are for sale and the company is believed to be open to offers on its ageing Kanowna and Plutonic mines.

It was not clear yesterday who would run the East Kundana mine, 21km west of Kalgoorlie, in the event that operator Barrick goes ahead with a sale to Tribune.

East Kundana yields 12g of gold per tonne and is one of the most profitable operations in Australia.

A sale to South Perth-based Tribune would place Mr Billis, who was the target of a bungled four-year investigation by the corporate watchdog, regardless of the bearish bullion market.

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