Today's News
I guess that was the news I was told to expect. Not what any of us was hoping for, but unlike most explorers, EGX has a deep pocket investor who continues to put more and more money into the company. This is very important. There are a lot of explorers who will not make it until the gold market turns, but obviously, Aura is not going to let that happen with EGX.
I just watched Rick Rule describe the exact scenario we’re now facing in the gold market. Gold is cyclical. We’re close to the bottom of a brutal bear market. Maybe we get a few more weeks or months of punishment leading to capitulation and this brings about the long-awaited bull market. Bear markets are the authors of bull markets according to RR and one follows the other like day follows night always has and always will—especially with gold.
Right now the positives are Aura’s buying, the reserves, the Chinese interest in Ecuador and the serious effort Ecuador is making to market its mining resources. The negatives all come under the heading of Glenn Laing's lack of communication skills, but maybe he really is working on a deal and if he is, everything he is doing probably makes sense.
I just spoke to Cathy and she didn’t know if this was the news Glenn was promising or it is news that precedes more important news. We’re all just waiting. Meanwhile I bought more at $.04 today. I’ve got a portfolio full of potential takeover targets that nobody seems to want at the moment, but I’m confident my patience will eventually be rewarded as it has been in the past.