Pros say buy Can...Globe says Kinross, rivals are tickets to profit
Kinross Gold Corp (2)(C:K)
Shares Issued 1,130,955,822
Last Close10/20/2010 $18.59
Thursday October 21 2010 - In the News
Also Semafo Inc (C:SMF)In the News
Also Goldcorp Inc (2) (C:G)In the News
Also New Gold Inc (C:NGD)In the News
Also Canaco Resources Inc (C:CAN)In the News
The Globe and Mail reports in itsThursday, Oct. 21, edition that it is always worth knowing what the prosare buying or selling. The Globe's Shirley Won writes in the NumberCruncher column that she examinesMiddlefield Precious MetalsClass Fund. The $18.6-million precious metalsequity fund has been run by Dennisda Silva of Middlefield Capitalsince 2008. The fund,which gained 63.1 per cent for theyear ended Sept. 30, has postedan average annual return of 46per cent over two years. The fund is 60 per cent in goldstocks, 10 per cent in silver securitiesand the rest in cash. Mr. da Silva says: "I amjust waiting for a bit of correctionto take advantage of opportunities. ... Despite what theprice of gold has done, we havenot seen equities necessarilykeep up through October."Mr. da Silva expectsthat gold could hit $1,500 (U.S.) an ounce before the end of the year.He says there is no clear strength to a United States or even a globaleconomicrecovery, which is driving investors "to search formomentum trades as well as alternativecurrencies and assetclasses." He recommends buying Semafo, Kinross Gold, Goldcorp, New Goldand Canaco Resources.