LONDON – Gold country, silver too, this summer comes to London.
You have to watch this GATA video: It is a total gold rush. Who knew watching a crowd of trust-busters with bald patches on their noggins could be as entertaining as the film “Source Code?”
The Gold Anti-Trust Action Committee’s road show is bringing market movers to the U.K. in its annual European conference. That is my main interest. I am a long-time follower of the organization, which probes the links among central banks and the commodity markets.
Its followers at GATA.org during the past 12 years have supported and “moved” many a gold and silver equity. That’s why I keep an eye on the companies that sponsor the non-profit group. This year they include Mexico’s Golden Goliath (TSX: V.GNG, Stock Forum) and Yukon’s Golden Predator (TSX: T.GPD, Stock Forum).
The real corker has been Chile’s Samex Mining (TSX: V.SXG, Stock Forum), whose shares have tripled since late April. The fellow behind that one, Jeff Dahl, has been on the GATA gold rush since the organization started in 1999. Mr. Dahl regularly converts Samex’s working capital into gold and silver.
The company president says the purchases protect the company’s purchasing power for future operations. Now, that’s leverage. I don’t own it and rue the day I first met Jeff many, many years ago; he pitched me on the stock.
At some point, one of GATA’s corporate backers, having achieved actual bullion production, will issue dividends in real metal. Would that not be something?
Andrew Maguire, a London silver trader, will be at this August’s GATA conference. Mr. Maguire’s concern about silver market manipulation wound up on GATA’s desk and subsequently went before the U.S. Commodity Futures Trading Commission in March 2010. Silver then started its rocket ride in price.
GATA in the 12 years I have followed it has gained thousands of supporters who take a stand in the market for gold and silver equities. They include Eric Sprott of Sprott Asset Management and Adam Fleming of Wits Gold (TSX: T.WGR, Stock Forum and WIWTY).
James Turk of GoldMoney.com, a kind of PayPal bank for gold holders, will be at this year’s Savoy gathering. He’s an economist with an uncanny sense of bullion market timing. I have not seen JT in a few years. Also: a Mexico trade official for the silver market: Hugo Salinas Price.
GATA’s Bill Murphy and Chris Powell long have targeted the Bank of England and its large bullion sales when gold was probing its 1999 to 2002 or so lows. There is no love lost as well between GATA and the London Bullion Market Association, a wholesale marketplace that sets policies and prices for London’s “gold fix.”
Registration for the August conference is at www.gatagoldrush.com. What excites me is the ordinary folks that Bill and Chris and their organization have brought into the gold and silver equities market. These folks own their coven of companies for long spans.
The material I publish via Stockhouse.com and BabyBulls.com sometimes gets GATA distribution. When it does, the page reads go off the chart. Now that’s leverage.
As for equities ownership these days, well ... “that means suffering sometimes,” says Mr. Powell, the group’s secretary, a newspaper editor in Connecticut and my friend and confidant. “Long suffering.”
But hey, the gold rush is still ahead.
Notes: I am off to East Africa to view Canaco Resources (TSX: V.CAN, Stock Forum) properties in Ethiopia and Tanzania. That is, if that Eritrea volcanic ash cloud does not muck it all up.
Thom Steps Out: I am adding professional outreach for a select number of natural resources companies to my log. I will continue to write free articles such as this one for Stockhouseand its nearly one million users. Here is the press release about my new outreach gambit: Thom & Torrey Hills Capital. (Please do not purchase shares of client companies based solely on my writing, my speaking or my on-site research.)
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