Gold Price10 Jun 2008 21:57
According to CMR's report on 9/8/2007 the business is working on a base gold price of just $600 oz,.
Many people would say we are in the midst of a commodity bull cycle, which has paused for breath, with Gold trading sideways for a couple of months now ranging between $850-$900 oz.
Should CMR start to gain receipts as forecasted in Q4. This lands right on time for both the Indian wedding season and Christmas but also at the end of the presidential elections, which impacts the value of the Dollar. (the Dollar staring to show signs of recovery) Given these possibly balance each other, I expect Gold prices to be around the same price they are currently, giving a nice upside against forecasted figures.
The improving political situation in South America will only serve to add confidence for potential investors.
I would expect that 2009 is when CMR comes in to its own.
I've been in these for around 18 months now and will look to add to my position soon.