Sage Gold Inc SGGDF

PDAC: Juniors hope to see gold in quadruple

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PDAC: Juniors hope to see gold in the quadruple digits Posted: March 04, 2008, 4:00 PM by DrewHasselback Mining, PDAC 2008 Gold may no longer be flirting with the US$1000 per ounce level given a decline of roughly US$20 to around $963 on Tuesday afternoon, but many companies think it is only a matter of time before prices reach quadruple digits. We surveyed both explorers and producers, and got a few forecasts for uranium and gold from those who were willing. First up was New Gold Inc. Company reps said they expect spot gold to reach US1100 per ounce by the end of 2008 and a similar level by the end of the decade. Over at the Gold Hawk Resources booth, investor relations director Jason Mercier was more bullish with a 2008 forecast of US$1185 and a whopping US$2800 by the end of 2009. The folks at Crystallex International Corp. see gold at US$1150 by the end of 2008, while their counterparts at Jinshan Gold Mines are a little more conservative with a US$1050 target. As for the spot price for uranium, which has fallen to US$73 per pound from US$93 in November, most are unsurprisingly bullish as well. Reps from Uranerz Energy Corp. see prices climbing to US$123 per pound by the end of 2008. Purepoint Energy Group Inc. is much lower at US$98 and Aurora Energy Resources Inc.'s VP of corporate planning expects prices to climb to US$130. Jonathan Ratner