Gold Breakout!! Looks Great.. lots more Upside to
Just back from a week vacation....well earned I might add...lol...I see EAG is just holding...and so are most of the Gold stocks, all waiting for this noted Gold Breakout last week...Sure...it’s going to take a bit longer as Gold establishes itself past $1700...not too far at all from here...
Some serious talk here about EAG PPS...you all know my views on this, however a couple of updates....the financing price as a consensus, from sources I spoke/contacted to, were in general agreement that it should have been done at 25 cents...I said 30 to 40 cents...However looking at all the circumstances surrounding , objectively .185 is not that far away, when one considers the pressure and political potentials in Quebec...the uncertainty played a role....BUT As I said I really hope this was a one time off...The Election is on Monday 4th, and the separatists are leading in the polls...32% however they are down 2% since last...Liberals are at 27%, and the NEW QAC are at 28% up from last...Although the Separatists may have been a factor a couple of weeks back thinking if they got in power, they might alter the PQ mining Act with its generous breaks for explorers, it appears clear now that the Separatist can only get a minority, and will have no real power to change very much, since the Majority of votes is made up Libs and QAC, who oppose any referendum vote etc...so it appears at this time that very little will change in Quebec...which essentially means EAG will continue to receive substantial amounts$$ from the Gov, as per expenditures, for the foreseeable future...
What will drive and keep Gold UP is, finally , the US$ fed more $ monetary easing likely to come very soon...as well this statement sent the US$ markets way up last week...This is/was the clear signal that the US$ fed will inflate, in order to avoid a major recession..they waited a little too long , but nonetheless.. IT’S HERE!!! this is/has always been very good for Gold as well as all commodities , priced in US$...There is another BIG plus for Gold and that is the Euro is meeting all next week + and it appears now that, they too will inflate...there seems no other way out for them except inflate..So for these and other reasons Gold should do very well from here till at least Xmas, and EAG should follow UP very closely...I expect in the next few months EAG to deliver some outstanding drill results, which will likely lead to our rich Gold mine...On this I am even more optimistic than ever, especially now we have much more cash to do all that is/was necessary, for drilling and other potential expenses...I personally can’t wait for those drill results, I am convinced we have a Gold mine at EAG, but the drilling will prove just how rich and BIG this EAG deposit will be...remember in some ways we are still sort of exploring at surface which is great for an Open Pit, and only a few limited drill holes at depth , which returned spectacular results/assays, and in my view from the Geology outlined, will be the maker of a HUGE RICH Gold mine...Let’s hope that the very talented Geo team put in place at EAG comes thru again for us BIG TIME!!!
Mellow...