These are points 8. and 9. from a series of points posted by Jim Sinclair last night.

8. The ratio spread long the major gold producers, short the juniors, is going to kill the math whizzes that think they are in the captain’s seat. The reason is the only value still in precious metals shares lies in the best junior issues these geeks have been hammering.

9. The prayer that a junior with quality assets has is that the illegal short position is enormous.

Good things come to those who patiently wait. Underlining above is mine.

P.