If Sprott is right............MXI has a chance. $2400 gold in a year would change everything and nobody here would be hoping for a .20 takeover.
Q&A with Eric Sprott:
Are we near the bottom of the decline in gold and what timeframe do you see for its appreciation to reach the old highs and possibly push through to new highs? Craig
Craig, I firmly believe that we reached the bottom on June 28th and that gold should double from that bottom within the next 12 months. So by next summer, I think that the price of gold will have made new highs and stand around $2,400 per ounce.
What is your view on the junior mining and exploration space? What has to occur in the mining sector to see a turn-around in the junior space? Anonymous
Given my outlook on gold prices, this sector will be explosive. The continuation of the gold bull market will lead the junior gold mining stocks higher by many hundreds of per cents, just like it did during the 2008 recovery. By the way, since hitting the bottom on June 28, gold has rebounded by 12 per cent while gold miners have gone up by about 25 per cent.