I noticed that the spot price of gold is still down around US$50. Some people are worried about this, and its impact on the players at the Ring of Fire and players like Spider Resources.

I was watching a bit of BNN at lunch hour here in Toronto, and the guest on the show was David Burrows of Barometer Capital. This guy is smart, and one of the most astute financial advisors in Toronto.

He stated very clearly that although gold is sharply down today, we are still in a "sector bull market". So gold and precious metals are still where you want to be.

I still think that the financial crisis in the USA is still with us. The US Fed has done some great things to try to mitigate the subprime and mortgage problems, but remember that billions of dollars of mortgages are scheduled to roll over in the next four months. We're not out of the woods yet.

So commodities is still a good place to be, and SPQ and the other McFaulds players are on the cusp of some excellent news.

Finally, I received an email back this afternoon from Greg Crone at the Ministry of Aboriginal Affairs. He has asked me to send my email on the Nishnawbe-Aski issue directly to Michael Bryant, Minister Responsible for Aboriginal Affairs. I have done so.

Snug