Casey on gold's future.Gold is holding its ground today. The spot price is down just $5, to $1,000 on the dot.
“Gold stocks, as a class, are going to be explosive,” opines Doug Casey, a favorite at our annual investment symposium and a longtime gold bull. “Now, you’ve got to remember that most of them are junk. Most will never, ever find an economical deposit. But it’s hopes and dreams that drive them, not reality, and even without merit, they can still go 10, 20 or 30 times your entry price. And the companies that actually have the goods can go much higher than that.
“At the moment, gold stock prices are not as cheap, in either relative or absolute terms, as they were at the turn of the century, nor last fall. But given that the mania phase is still ahead, they are good speculations right now -- especially the ones that have actually discovered gold deposits that look economical…
“At the particular stage where we are right now in this market for these extraordinarily volatile securities, if you buy a quality exploration company, or a quality development company (which is to say, a company that has found something and is advancing it toward production), those shares could still go down 10%, 20%, 30% or even 50%, but ultimately, there’s an excellent chance that that same stock will go up by 10, 50 or even 100 times. I hate to use such hard-to-believe numbers, but that is the way this market works. When the coming resource bubble is ignited, there are excellent odds you’ll be laughing all the way to the bank in a few years.
“I should stress that I’m not saying that this is the perfect time to buy. We’re not at a market bottom, as we were in 2001, nor an interim bottom like last November, and I can’t say I know the mania phase is just around the corner. But I think this is a very reasonable time to be buying these stocks. And it’s absolutely a good time to start educating yourself about them. There’s just such a good chance a massive bubble is going to be ignited in this area.”
TARM has gold at DR,unknown but seems rich.
Cenetario has gold and again,what is known is rich.
Picacho is also sitting with gold glowing.
Whom is not to say TARM will not get more gold property,once cashflow gets to excess.