Any thoughts on this one.
I have some action in this one and the market obviously liked their new high grade find. I also believe there are some "deep pockets" watching this action that might want to get in, although not sure it was this one. I trust the people that had me cut the check for this one so I'm sticking with it and maybe buying more.
Hi Peace Silver,
I love your question about the mix between juniors and producers because that is the same exact question I'm asking myself right now. The juniors are wonderful if you want to seismically increase your holdings but as you know sometimes it can be a two year wait and if nothing pans out, you are selling in those two years sometimes with profit and sometimes not. Obviously, if you have a good mix and the best of the best, the good ones outweigh the bad ones. However, I agree with you why not get into some of the big gold action as it seems to me that I should also leverage the rising price of gold with the producers as they move much faster and they will probably be the ones the crowd gets into first and the ones we will sell first. And then use that money to either buy physical or other juniors.
I don't buy the top tier producers because they are too expensive. The next one I'm looking at is AuRico Gold (AUQ) because they just acquired Northgate Minerals so their stock took a hit and now it's stabilized and on sale. Anyway, I don't have any particular strategy whats's the best mix.
As far as dry powder, as you know the guy that's recommended Carbine has been saying since 2008 to have dry powder over and over again. And I have been listening. But what I'm hearing from just about everyone is that the miners could start shooting up very soon, at least the big producers. With everybody screaming gold is going parabolic, it doesn't make too much sense to wait too long. So after labor day, I'm looking to open the flood gates and buy more. But I want to hear the news of what's happening with the giant credit mess in Europe with Germany and France to Issue more money (print) and bonds to finance the PIIGS. But I'm gonna pull the trigger soon because I'm hoping we are getting to the point where the cliche wait 3-5 years is turning into wait 6 months to a year.
Did you listen to the Boss's teleconference? I haven't but will listen today.
@ .17 $AU
Drill results soon.