GREY:ABGFF - Post by User
Comment by
camphoron Feb 23, 2012 2:52pm
210 Views
Post# 19575191
RE: RE: Still holding
RE: RE: Still holding Additional Commons: (my personal thoughts)
1) Gold is trading at $1784, and it unlikely to trade below $1700 this year.
- Iran is trading oil for GOLD (not US$)
- Most of EU countries (German, France.etc) average gold reserve is above 70%. US is 76%. China is only 1.7% (yes, one point seven percent). So, China is purchasing more and more gold every months to protect their assets. Just imagine China increase its gold reserve from 1.7% to 5% (which is the minimum amount of gold that any individual should have according to almost every person that is on TV and talks about gold, besides buffet). That is A LOT OF GOLD, because we are talking about CHINA NOT GREECE.
- Chinese government has already agreed to help German to save the EU, so it is not (include Greece)likely to default this year. (at least before US election).
2) BZA's new long-term support is at
.46.
- I know BZA is not meeting its target (or targets, whatever you want to call it). If you want to sell your BZA shares now, where do you want to put the money? Saving account? and wait for Obama to print more CASH??? England has already announced (feb 09, 2012), that they are printing 75B POUNDS. If US decided to print more cash (like they didn't do it already...), China has no choice to print it with them, to maintain the US:RMB ratio. (cos China is holding TOO MUCH US CASH). MORE CASH = HIGH COST OF REAL THINGS (gold is VERY likely to go higher).
3) In the most recent BZA NR, it is saying they are going to start shipping out those ($1524) gold in May. From what I see, it means we will be in full production no later than that. But I believe they will be in full production in early March, May is simply a time that BZA will be comfortable enough to ship out a small amount of production that will not affect their balance sheet or working capital.
I AM WAITING...