There's GOLD in There Thar Hills!!!We are pleased to deliver an email version of today's Canaccord
Capital Daily Letter directly to you. For a more complete version that
includes tables and graphs please visit our web site at
https://www.canaccord.com/research/index.html
DAILY Letter
Thursday, May 17, 2001
Gold Equities: De-coupling from the Bullion Price?
Brian Christie (416) 869-7918 and Brad Humphrey, Associate (416)
869-3650
* Sentiment towards gold equities appears to be improving despite a
lagging gold price
* Are the rising equities forecasting a significant move in bullion
prices? Difficult to say, but don't get caught without any gold
exposure
* The near-term resistance level for gold looks to be in the mid-$270
range. We are still maintaining our forecast of US$285 per ounce in
2001
* Most gold shares are showing positive performance on the year. We
would recommend that investors take an active trading stance
* As broader markets continue to show extreme volatility, gold shares
offer a "safe haven" to investors seeking "real" revenues, earnings,
and cash flow