I disagree. A re rate is on the cards. As our indicated ounces move to resource ounces so does the value associated to those ounces. I agree that when and if the Bids start coming in we will see further advances in the SP and true value will not be obtained until we are sold, but I am expecting to see a rise here on release of the PFS later in the week.
Although I am not expecting a re-rating with our PFS announcement it will be good to have this published so we know exactly where we are. Although most of it is known MC tends to always leave a little gem unannounced, maybe sub $750 production cost.
I agree with earlier posts I am pleased we have not see the p and d brigade before the announcement and my feeling is we will drift higher over the next couple of months and believe we will see our first bud within 3-6 months - it's just a question of the price as I do not see MC, Pacific or IFC accepting a low bid.
Nov 7 wow!! we lost another huge 5.68 tonnes of gold at the GLD/inventory 727.15 tonnes
Nov 6.2014: we had another huge withdrawal of 2.99 tonnes of gold. Inventory 732.83 tonnes
This gold is also heading to Shanghai. If I was a shareholder of GLD I would be quite concerned as there will be no real gold inventory left per outstanding shares.
Nov 5 we had another huge withdrawal of 3.000 tonnes of gold. This gold will be heading to Shanghai/GLD inventory 735.82 tonnes
Nov 4.2014: a huge withdrawal of 2.39 tonnes of gold/GLD inventory/738.82 tonnes
Nov 3.2014: no change in gold inventory at the GLD/741.21 tonnes
Oct 31.2014: no change in gold inventory at the GLD despite the raid/inventory at 741.21 tonnes
October 30.2014: we had another 1.2 tonnes of gold leave the GLD and heading to Shanghai/Inventory 741.21 tonnes
October 29.2014: we had another .99 tonnes of gold removed from the GLD/inventory 742.40 tonnes
Oct 28.2014: we had another withdrawal of exactly 2 tonnes of gold heading to Shanghai; Inventory 743.39 tonnes
Oct 27.2014: no change in gold inventory at the GLD/inventory 745.39 tonnes.
Oct 24.2014: a huge withdrawal of 4.48 tonnes of gold at the GLD/Inventory 745.39 tonnes. This gold is heading to friendly territory: namely Shanghai.
Oct 23.2014: no change in gold inventory at the GLD/Inventory at 749.87 tonnes.
Oct 22.2014: we lost another 2.1 tonnes of gold at the GLD. Inventory rests at 749.87 tonnes. This tonnage no doubt is off to Shanghai.
Oct 21.2014: no change in inventory/GLD inventory rests tonight at 751.96 tonnes.
Today, Nov 7. a huge withdrawal of 5.68 tonnes gold inventory at the GLD
inventory: 727.15 tonnes.
The registered vaults at the GLD will eventually become a crime scene as real physical gold departs for eastern shores leaving behind paper obligations to the remaining shareholders. There is no doubt in my mind that GLD has nowhere near the gold that say they have and this will eventually lead to the default at the LBMA and then onto the comex in a heartbeat (same banks).
1 Not sure the US elections will change the FED in the short term 2 skip 3 production of gold 7tons a year , the GLD and comex sold more than that last week alone 4 Swiss could be a black swan event 5 See no1
and also because (i) the manipulation (as you described) maximised just before US elections to sure up the dollar; pressure off now (ii) much more open discussion emerging in mainstream about illegal efforts re pog (and silver) (iii) pog and silver now doesn't cover average cost of production (iv) pressure mounting and publicity due to Swiss vote (v) clearer evidence of increasing demand and reducing prices defies all laws of economics, also in public domain
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