Core Gold DMMIF

sucks

[bailey2]

One year ago , Coregold was at 29 cents. Ouch. So down around 30 per cent. Never good when gold is trending up, and core is trending or trying to trend down. Yikes. How about an update Mr Piggott and whatever happened to the debt financing of a year ago? Obviously silence is not golden  when it comes to Coregold in this rising gold market. Here's hoping that it doesn't keep trending down to it's weak sister's shareprice GGA.

[whiteirish]

CGLD is not a gold play; it's a Chapter 11 (or whatever Canucks call it) recovery play. GGA isn't relevant.   Wait until China calls it's note on Ecuador, then panic.

[RONNIE111]

China will never call it's note (s) on Ecuador.  That would serve no purpose.  The notes are backed by  oil production which is pretty much all Ecuador has in cash generation ability. The large debts Ecuador has to China  just means they are more desperate to get other income besides oil, think mining.  So Ecuadors bad financial situation is actually good more mining.

[whiteirish]

China is calling notes all over Africa.  Maybe S. America isn't as stupid as Africa, but it's pretty close.. Oil prices aren't what they used to be; look at Venezuela. China has designs to virtually control 'state'  economies wherever it can.  Ecuador is on it's knees with low oil prices, it's business plan, and China loves gold.

[RONNIE111]

From my readings about Ecuador's debts to China: the debts are guaranteed by oil, so if Ecuador can't pay in cash they pay in oil.  And China was the only one who would lend Ecuador money.  The Western banks, World Bank and so on, wouldn't lend because Ecuador defaulted a number of years ago.   And Ecuador desperately needed to develop it's infrastructure. 

[Tad]

This post has been removed in accordance with Community Policy

[RONNIE111]

Yes, Tad, I read that article awhile ago.  Written by an American so I took that into account. Everyone is all over China for lending money to countries to build infrastructure, that they desperately need, and that no one else will give them.  And yes , some of the projects have been ill advised, but they were what the country wanted and decided to do.   It would be interesting

[flashcash]

I hope you did some reading on pol pot and the Chinese civil war to get an overall perspective of the politics of the time Ronnie, the north invaded the south in Vietnam. Now as for core gold, it’s wait....wait...and wait some more.

[flashcash]

OT on politics, I once had a Chinese friend in South Africa and we both worked in the mining industry, gold/platinum. I once asked if he would ever commit industrial espionage, his reply was stark and to the point, YES, everything to get China the edge.

[brianjoyce2]

Yes, China is playing a game the US has done for decades. Read "Confessions of an Economic Hit Man", perhaps with a grain of salt, but eye opening nonetheless.

[RONNIE111]

Ah, the beauty of the internet.  I ask for an analysis of IMF, WB, etc. loans, and next day, I've got it.  Looks like an interesting, and depressing, read ; and I see Kobo has it.