RE:RE:One Theory
I don’t think Cathy knows any more than we do, in fact, she has said on more than one occasion that we know more than she does (probably because we are the ones who have been contacting the lawyers and the lab). What I posted yesterday was what I concluded after speaking with her. She agreed that this is probably as good a guess as any, but it is just my opinion.
As for gold, we may get some pullbacks at the main points of resistance, “100-day moving average at $1,206.70 an ounce, with the next level coming in at the 50-day moving average at $1,220.30 an ounce” to quote Kitco. From my experience of working in this industry, most of the analysts that are calling for lower gold prices are basing their predictions on bogus U.S. recovery numbers or some convoluted theory that deflation is bad for gold (Harry Dent). It might be but a currency war and a transition from the U.S. dollar as the world’s reserve currency to something new with gold backing will trump deflation. I believe that 2015 is the year the consequences of misguided U.S. foreign policy and economic global hegemony policy come home to roost. The world is waking up. As far as Goldman is concerned, I think it’s safe to bet against anything they say about gold just as they probably are in their prop accounts. I think most of their public statements are reserved for their “muppets” their nickname for their own clients.
The Chinese will buy EGX as a result of these developments. I’m pretty sure this will play out in a very similar way to Corriente's Chinese buyout. I always felt Glenn might have trouble selling a company with just a PEA, but that’s why this new PEA was supposed to be close to a pre-feasibility study (a minimum requirement for a sale of this nature). The Chinese kept asking Correinte for more info, but once they were satisfied they paid a premium price. Again, I’m guessing the new report was close, but more details were needed. I also think this is why the last financing was done the way it was.
Not sure why Stockhouse posted my post twice yesterday. They seem to have a lot of technical issues.