Meridian Gold (NYSE: MDG) - 500 Beiträge pro Seite

[peter.wedemeier1]

Ich liebe die nicht gehedgten Goldaktien und ich glaube das das Retracement beendet ist. Auch wenn manche behaupten wollen, es könnte per Unze auch auf $310 zurückfallen. Man wird sehen.

peter.wedemeier1

[peter.wedemeier1]

Mehr Gold!
MACD-Histogramm und Stochastic Bodenbildung.

peter.wedemeier1

[peter.wedemeier1]

MDG hat seine Goldreserven und arbeitet auf niedrigen Produktionskosten.

peter.wedemeier1

[peter.wedemeier1]

MDG befindet sich im Moment auf seinem fair Value. Bei der nächsten guten Bewegung bei dem Goldpreis werden wir einen weiteren 200% Swing bekommen.

peter.wedemeier1

[peter.wedemeier1]

"Tod und Dunkelheit" bei der Nasdaq und dem Dow Jones.
Der Gesamtmarkt (Dow Jones und Nasdaq) sieht schrecklich aus. Auch der Dollar wird weiter fallen. In schwierigen Zeiten ist es sensibel Sicherheit beim Gold zu suchen. Sieht bei Meridian wie ein guter Einstiegszeitpunkt aus.

peter.wedemeier1

[peter.wedemeier1]

Ich glaube an dieses Rennen. Solide Industrie und bewegt sich gut.

peter.wedemeier1

[peter.wedemeier1]

Gold ist im bull market, so der Aufwärtstrend kann sich nun fortsetzen. Gold wird sehr viel höher steigen! Go Gold Go!
MDG hat eine relative Stärke zum XAU in der letzten Zeit gezeigt. Es formt eine Flagge oder ein Dreieck, welches einen starken Ausbruch impliziert.

peter.wedemeier1

[peter.wedemeier1]

Es sieht so aus, als ob die Goldminen gehen zu haben eine weitere exzellente earning season.

[peter.wedemeier1]

Das Gold bekommt seine Reputation als sicherer Hafen wieder zurück. Im nachbörslichen Handel gab es ein paar schöne Blocktrades, ich nehme mal an ausgeführt von Fonds. Um 17.38 $18,70 35.800 Aktien und zur gleichen Zeit $18,70 20.800 Aktien. MDG wird neue Hochs machen.

[peter.wedemeier1]

Ein kurzfristiger Fall ist möglich, aber nicht sicher! Die Unterstützung ist bei $17,50, welche möglicherweise halten wird. Es hängt alles vom Goldpreis ab. Während Gold hielt sich stetig in den letzten Tagen, Silber ist langsam angestiegen und ist nun über $5,-/oz. Gold wird möglicherweise dem Silber folgen. Der Dollar fällt weiter. Durch den Fall des Dollars wird das Gold steigen und so wird MDG steigen. Ich bin überzeugt davon, das der Goldpreis in einem Jahr (oder zwei) über $400,-/oz ist.

peter.wedemeier1

[peter.wedemeier1]

All-Star Analyst Joe Hamilton Recommends the Following Stocks: ABX, MDG and Toronto: NGX Updated: Friday, July 26, 2002 06:02 AM ET

CHICAGO, July 26 /PRNewswire/ -- The market has beaten up gold stocks a bit over the past several days, but the unjustified pounding will stabilize in short order, according to Joe Hamilton, 5-Star gold analyst. Find out how this pro sees the gold landscape and which companies provide the best opportunity for profit and growth. http://www.allstarpicks.zacks.com .

Meridian Gold, Inc. (NYSE: MDG) is an intermediate gold mining company and is Hamilton`s best pick among intermediate producers. He believes the company has the best potential for future growth through exciting new possibilities like its Esquel project in Argentina. Due to its expansion, Hamilton says that MDG should be able to produce approximately 400,000 ounces of gold next year at a cash cost of less than $100 per ounce. Since the company is debt free, has a strong cash flow and a conservative management, it is easy to see the growth potential brewing in MDG. Hamilton has set a price target for the company at US$20 and sees 2002 and 2003 earnings of $0.64 and $0.62 respectively.

[peter.wedemeier1]

As the dollar has declined over the past year, gold has increased in value, though it has pulled back a little during the summer months. Managing about $1.3 billion, Prescott Crocker, head of the high yield group for Evergreen Investments, said a sharp rise in gold earlier this week could signal the metal`s return.
Crocker is also senior portfolio manager for the $115 million Evergreen Precious Metals Funds, which is up 45% over the past 12 months. His portfolio is adjusted to include what he calls high-beta stocks, companies that have little hedging of forward sales. As gold prices go up, these stocks will outperform, he said.

Crocker predicts more upside for gold looking ahead six months. He views gold as a currency itself and sees it outpacing the dollar. “I see the dollar trading in the low 90s from 106 where it is now. Gold is at $311 and I don’t see why it can’t go to $340 six months from now,” he said.

Crocker offered three precious metals picks, which are listed below alongside his comments. A StockScouter rating has been provided.


Meridian Gold Inc.

• The fund`s largest holding

• Superior returns from a mid-sized gold miner

• Company has total cost of mining its gold of only $120 an ounce

• It has high growth in reserves of 3.3 million ounces

• Strong potential for growth in three mines.

• High beta stock, with little hedging of forward sales, sells at 17 times 2002 cash flow and at a 31% premium to net asset value at today`s gold price.

• Rated an 8 on StockScouter

Meridian Gold Inc.: Stock Rating Summary
Meridian Gold Inc., a mid-cap growth company in the basic industries sector, is expected to significantly outperform the market over the next six months with average risk.

10 is the best possible rating.


Quick Summary Details
Pro• The price-to-sales multiple is significantly higher than the average for all stocks in the StockScouter universe. Very positive for a medium- to large-sized company like MDG

• Previous day`s closing price for MDG was slightly above its 50-day moving average. Positive

• The ratio of MDG`s price-to-earnings multiple to its five-year growth rate is about the same or slightly above the average of all stocks in the StockScouter universe. Positive



Con• The price-to-earnings multiple is higher than the average for all stocks in the StockScouter universe. Negative





Short-term Outlook
Over the next 1-2 months, StockScouter forecasts that growth stocks will be in favor, mid-cap stocks will be in favor, and basic industries stocks will be neutral.

[peter.wedemeier1]

Aufwärts! Wir steigen! MDG ist eine von den solidesten und stabilsten Goldminen.

[peter.wedemeier1]

MDG, ein exzellentes Unternehmen und die beste Wette auf Gold.
Kurzfristiges Kursziel $21,-.

peter.wedemeier1

[peter.wedemeier1]

Volumen, Bilanz, und generelle Technik sind exzellent. (Long Empfehlung)

Geht long bei MDG. Die umgekehrte head and shoulders Formation ist komplett wie das Volumen ansteigend ist. Großartige Bilanz fügt Treibstoff zu dem sich entwickelnden Feuer hinzu, wie der bull market beim Gold noch viel heißer werden wird.

[peter.wedemeier1]

Langsam aber stetig!
Es gibt dort noch eine Menge mehr Aufwärtspotenzial! Seht Euch das neue All-Time-Closing-High an!

[studied]

was meinst du zu placer dome, da ist scheint das kursrsiko einiges geringer...

[peter.wedemeier1]

@studied
Meine derzeitigen Favoriten bei den Goldminen sind:
AEM, ASL, CBJ, KRY, DROOY, GLG, GFI, GG GSS, HGMCY, KGC, MDG, RIC und RGLD. Daneben ASA, der in südafrikanische Goldminen investiert. Und bei den Silberminen: CDE, HL, PAAS und SSRI.
Von PDG halte ich momentan nicht so viel.

peter.wedemeier1

[peter.wedemeier1]

@studied
Ich habe bei den Goldminen RANGY ganz vergessen.

peter.wedemeier1

[peter.wedemeier1]

Momentum!
MDG wird einer der großen Gewinner sein. Darauf deutet das Volumen hin. Genrell würde ich auf den bevorstehenden breakout MDG kaufen. Irgendein Schlußkurs über $21,- und wir haben den breakout. Dann wird MDG wie eine Rakete vertikal nach oben steigen.

peter.wedemeier1

[peter.wedemeier1]

"This situation has chopped through some significant speculative activity in a sure and steady way. It was unfortunate to see the MACD and Momentum.

The Up Trend created by the early October low and the subsequent lows becomes a very important to the positive character of this issues trading."

http://www.financialsense.com/metals/sinclair/tech/review/10…

[peter.wedemeier1]

Among those with strong RS (Relative Strength) were Royal Gold (again), Glamis, Harmony, Goldfields, Meridian, Newmont. U can judge RS for yourself, just compare the price action, one chart with another. If U move out of weak shares into stronger RS shares it obviously strengthens your pf (portfolio).

Gold Charts R Us
"Trade gold stocks to triple your profits."
GOLDEN BALL in your court

from Harry Schultz
posted November 8, 2002

http://www.321gold.com/editorials/schultz/schultz110802.html

[peter.wedemeier1]

COMMENTS FROM JIM SINCLAIR:

This is going to be the toughest call of this entire $300 - $330 sideways movement. The reason why is because, as we enter the $320 - $325 range, there is a knee-jerk reaction in the gold market. The gold market is so used to the arrival of JPM, Lehman, Goldman and Merrill as sellers pounding the market, that gold shares now almost automatically decelerate, as a knee-jerk reaction to gold being at the the $320 -$325 price. At this price, the gold shares` appreciation decelerates and actually stops dead in their tracks.

What the market has failed to realize is that these gold dealers, due to their own liquidity situations, are now no longer the big position takers in gold as they were before. All they have been doing lately is exercising clients` orders. The sellers of gold that have come into gold market at the $320 - $325 area have not been the gold cartel. They have been the local floor traders and speculator computer traders. Again, not the cartel. This is why we have had higher lows as we chop sideways.

I firmly believe the chances of taking out the $330 level to the upside before Christmas is real because the significant enemy of the gold price, the gold cartel, is out of business. They have had their trading capital called back to the parent holding company because of the effects of the credit downgrade on the parent holding companies. When the market wakes up that the enemy is no longer there, no event will be required to take gold above $330. It will simply go there.

Here is how we will determine if gold is going to break out above $330:

Have you wondered how I was able to determine the heads up and buy/sell points in this rally? Well, thanks to RGLD/GG and the use of proprietary measures in the duration period of the chart, the slow stochastic and Williams %R, I have when these leading (action-wise) gold shares entered an oversold condition, began to look for the buy and overbought for the sell. Now as gold approaches $330, if the gold shares (which historically know more about gold than gold does) are not into the overbought condition that have been so accurate, we will assume $330 is going to breach and NOT SELL our 1/3.

This means we are remaining disciplined, but being superbly focused. I will, as we near this situation, be doing daily technical reviews. I consider the market at this time more critically positive than ever before in this 11-month rally. The magnificently symmetric, three-year golden tea cup formation* would break to the upside out of the handle at a close above $330. This type of a formation, over this amount of time, is extremely rare and super bullish. I have in my 43 years never seen a technical formation of this kind for this long a duration with this type of symmetry. It is rare and important. This type of a formation will launch only one thing, a huge Bull market, if resolved to the upside. The probability of failure after gold breaks to the upside above $330 from this type of a formation is less than 10%. Those odds are outrageously good for the long.

We know the bull market in gold started 11 months ago, but history will record the breakout above the handle on the golden tea cup as "The Birth of the Gold Bull Market." This will occur because the amount of appreciation above the handle will be orders of magnitude compared to the 11-month appreciation we have already witnessed. Be assured that I am focused and will be keeping the Gold community as closely focused.

[peter.wedemeier1]

Gold Stocks 101 for NEW Investors

Gold investors must first understand that gold mining companies are highly leveraged to the price of gold. Mining companies have very high fixed costs; above these costs, it`s all profit. Here`s a simple example... Many miners have a total production cost (not cash cost) of somewhere around $270/ ounce. When gold is $272, they might have a profit of $2 for every ounce they produce. But with gold at $290, their profit jumps to $20 an ounce (900% increase). This example assumes no "hedging".

You should spend your time looking at the quarterly reports from the gold miners and calculating the vast increase in profits that they will show with a gold price at $300+. For many of the gold miners, profit increases of over 300% will be easily accomplished during this first year of higher gold prices. The smaller gold miners will see the biggest profit increases - they are usually the most leveraged. This whole sector will see profit increases ranging from 100% to 2,000% this year. You will see the PE`s of some of these stocks cut by a factor of ten with the profit increases (assuming no price increase).

Any commentary about gold stocks being expensive is a flat out wrong. You can`t analyze gold stocks without considering where the POG (price of gold) is headed. The Analysts are restrained because they want to slow things down so their firms can get in with large buy orders. If you think my cynicism is misplaced, ask yourself why there have been almost no Analyst upgrades for the miners - even though it`s been the best performing sector for over a year. As a matter of fact, Goldman Sachs downgraded gold (the physical metal), and Placer Dome (PDG), in early January. Meanwhile, sites that report institutional holdings (like the Nasdaq site) show huge institutional buying of gold equities.

Traditionally, the mainstream press has tried to avoid covering the gold sector. When they did cover it, they often presented negative spin by the bullion banks. These banks don`t want gold to go up because most of them are short. But now they are starting to cover gold with more honest insight. Notice how CNBC covers gold in the afternoon, but not on Squawk Box. CNBC is playing nice now, but would quickly slam gold if they could.

It`s also important to understand the potential for dividends. Gold mining companies have a history of paying the highest dividends in history (when their profits are up). The South African miners (GFI, HGMCY, DROOY) pay the highest dividends. Gold Fields (symbol GFI) pays out 50% of their profits in dividends, that fact is documented in their recent quarterly report. GFI could rise from $8 to $30, and then declare a 15% dividend.

It`s also important to understand the market capitalization issue. The total market cap of all gold mining stocks traded on all three U.S. exchanges is only about 80 billion. A single tech company like AOL has a higher market cap. This means is that even small capital inflows into this sector will generate explosive increases in stock prices.

The following websites are excellent resources. Not providing links because some websites reject posts with links. Almost all are dot com, GATA is dot org. I highly recommend reading the GATA messages (Yahoo Groups), it will give you a feel for just how long gold has been held down, and how powerfully it will now go up (read some of the posts from a year or two ago). The Tocqueville website is also great. There are about 7 "Brainstorms" on gold.
----------------------
GATA messages (can link from main GATA page)
USAGold (Daily Report & Gold Discussion links)
Gold-Eagle (Digest & Forum links, 50 million hits since inception)
321Gold
Kitco (current gold prices and historical gold charts)
TheBullionDesk (Newswire link)
PrudentBear
Seabridgegold dot net (The case for gold)
Tocqueville (Brainstorms / they have a good gold fund too)
Silver-Investor

[peter.wedemeier1]

Top of The Pops
Strongest Gold Stocks
Clive Maund
4 December, 2002
http://www.321gold.com/editorials/maund/maund120402_goldstoc…

[peter.wedemeier1]

How to participate in the unfolding bull-market in gold

http://www.321gold.com/editorials/zihlmann/zihlmann120502.ht…

[peter.wedemeier1]

Top Financial News


!!CANNOT OPEN FILE: /bb/bin/web/markets/textfiles/ ad_box_all.txt!!
12/05 07:09
Sweden Lowers Repo Rate for Second Time in a Month (Update3)
By Dara Doyle


Stockholm, Dec. 5 (Bloomberg)
http://quote.bloomberg.com/fgcgi.cgi?ptitle=Top%20Financial%…

[peter.wedemeier1]

Top Financial News

12/05 07:45
ECB Lowers Key Interest Rate by Half a Point to 2.75 Percent
By Sonja Dieckhoefer


Frankfurt, Dec. 5 (Bloomberg)
http://quote.bloomberg.com/fgcgi.cgi?ptitle=Top%20Financial%…

[peter.wedemeier1]

[peter.wedemeier1]

http://www.nypost.com/delonas/2001/112001.htm

[peter.wedemeier1]

Dictionary of Mining, Mineral, and Related Terms

http://imcg.wr.usgs.gov/dmmrt/

[peter.wedemeier1]

http://fungoround.com/funpages/xmasosama/index.php?e=armende…

[peter.wedemeier1]

http://www.cluttercottage.com/chart/auwk1206.gif

[peter.wedemeier1]

Gold Stocks 101 for NEW Investors
Gold investors must first understand that gold mining companies are
highly leveraged to the price of gold. Mining companies have very high
fixed costs; above these costs, it`s all profit. Here`s a simple example...
Many miners have a total production cost (not cash cost) of
somewhere around $270/ ounce. When gold is $272, they might have a
profit of $2 for every ounce they produce. But with gold at $290, their
profit jumps to $20 an ounce (900% increase). This example assumes
no "hedging".

You should spend your time looking at the quarterly reports from the
gold miners and calculating the vast increase in profits that they will
show with a gold price at $300+. For many of the gold miners, profit
increases of over 300% will be easily accomplished during this first
year of higher gold prices. The smaller gold miners will see the biggest
profit increases - they are usually the most leveraged. This whole
sector will see profit increases ranging from 100% to 2,000% this
year. You will see the PE`s of some of these stocks cut by a factor of
ten with the profit increases (assuming no price increase).

Any commentary about gold stocks being expensive is a flat out
wrong. You can`t analyze gold stocks without considering where the
POG (price of gold) is headed. The Analysts are restrained because
they want to slow things down so their firms can get in with large buy
orders. If you think my cynicism is misplaced, ask yourself why there
have been almost no Analyst upgrades for the miners - even though
it`s been the best performing sector for over a year. As a matter of
fact, Goldman Sachs downgraded gold (the physical metal), and Placer
Dome (PDG), in early January. Meanwhile, sites that report institutional
holdings (like the Nasdaq site) show huge institutional buying of gold
equities.

Traditionally, the mainstream press has tried to avoid covering the gold
sector. When they did cover it, they often presented negative spin by
the bullion banks. These banks don`t want gold to go up because most
of them are short. But now they are starting to cover gold with more
honest insight. Notice how CNBC covers gold in the afternoon, but not
on Squawk Box. CNBC is playing nice now, but would quickly slam gold if
they could.

It`s also important to understand the potential for dividends. Gold
mining companies have a history of paying the highest dividends in
history (when their profits are up). The South African miners (GFI,
HGMCY, DROOY) pay the highest dividends. Gold Fields (symbol GFI)
pays out 50% of their profits in dividends, that fact is documented in
their recent quarterly report. GFI could rise from $8 to $30, and then
declare a 15% dividend.

It`s also important to understand the market capitalization issue. The
total market cap of all gold mining stocks traded on all three U.S.
exchanges is only about 80 billion. A single tech company like AOL has
a higher market cap. This means is that even small capital inflows into
this sector will generate explosive increases in stock prices.

The following websites are excellent resources. Not providing links
because some websites reject posts with links. Almost all are dot com,
GATA is dot org. I highly recommend reading the GATA messages
(Yahoo Groups), it will give you a feel for just how long gold has been
held down, and how powerfully it will now go up (read some of the
posts from a year or two ago). The Tocqueville website is also great.
There are about 7 "Brainstorms" on gold.
----------------------
GATA messages (can link from main GATA page)
USAGold (Daily Report & Gold Discussion links)
Gold-Eagle (Digest & Forum links, 50 million hits since inception)
321Gold
Kitco (current gold prices and historical gold charts)
TheBullionDesk (Newswire link)
PrudentBear
Seabridgegold dot net (The case for gold)
Tocqueville (Brainstorms / they have a good gold fund too)
Silver-Investor >>

[peter.wedemeier1]

Gold Rush Starts in Beijing

http://www.china.org.cn/english/2002/Dec/51690.htm

http://www.China.org.cn/english/index.htm

[peter.wedemeier1]

You are in: Business

Thursday, 19 December, 2002, 08:28 GMT
Chinese shoppers queue for gold




Market reforms have made Chinese citizens into keen investors

http://news.bbc.co.uk/1/hi/business/2589613.stm

[peter.wedemeier1]

Friday December 20, 2:04 PM
INTERVIEW:Small Investors Overrunning Japan`s Gold Mkt
By Jim Hawe
Of DOW JONES NEWSWIRES

TOKYO (Dow Jones)-
http://sg.biz.yahoo.com/021220/15/35wui.html

[peter.wedemeier1]

Gold Stocks 101 for NEW Investors
Gold investors must first understand that gold mining companies are highly leveraged to the price of gold. Mining companies have very high fixed costs; above these costs, it`s all profit. Here`s a simple example... Many miners have a total production cost (not cash cost) of somewhere around $270/ ounce. When gold is $272, they might have a profit of $2 for every ounce they produce. But with gold at $290, their profit jumps to $20 an ounce (900% increase). This example assumes no "hedging".

You should spend your time looking at the quarterly reports from the gold miners and calculating the vast increase in profits that they will show with a gold price at $300+. For many of the gold miners, profit increases of over 300% will be easily accomplished during this first year of higher gold prices. The smaller gold miners will see the biggest profit increases - they are usually the most leveraged. This whole sector will see profit increases ranging from 100% to 2,000% this year. You will see the PE`s of some of these stocks cut by a factor of ten with the profit increases (assuming no price increase).

Any commentary about gold stocks being expensive is a flat out wrong. You can`t analyze gold stocks without considering where the POG (price of gold) is headed. The Analysts are restrained because they want to slow things down so their firms can get in with large buy orders. If you think my cynicism is misplaced, ask yourself why there have been almost no Analyst upgrades for the miners - even though it`s been the best performing sector for over a year. As a matter of fact, Goldman Sachs downgraded gold (the physical metal), and Placer Dome (PDG), in early January. Meanwhile, sites that report institutional holdings (like the Nasdaq site) show huge institutional buying of gold equities.

Traditionally, the mainstream press has tried to avoid covering the gold sector. When they did cover it, they often presented negative spin by the bullion banks. These banks don`t want gold to go up because most of them are short. But now they are starting to cover gold with more honest insight. Notice how CNBC covers gold in the afternoon, but not on Squawk Box. CNBC is playing nice now, but would quickly slam gold if they could.

It`s also important to understand the potential for dividends. Gold mining companies have a history of paying the highest dividends in history (when their profits are up). The South African miners (GFI, HGMCY, DROOY) pay the highest dividends. Gold Fields (symbol GFI) pays out 50% of their profits in dividends, that fact is documented in their recent quarterly report. GFI could rise from $8 to $30, and then declare a 15% dividend.

It`s also important to understand the market capitalization issue. The total market cap of all gold mining stocks traded on all three U.S. exchanges is only about 80 billion. A single tech company like AOL has a higher market cap. This means is that even small capital inflows into this sector will generate explosive increases in stock prices.

The following websites are excellent resources. Not providing links because some websites reject posts with links. Almost all are dot com, GATA is dot org. I highly recommend reading the GATA messages (Yahoo Groups), it will give you a feel for just how long gold has been held down, and how powerfully it will now go up (read some of the posts from a year or two ago). The Tocqueville website is also great. There are about 7 "Brainstorms" on gold.
----------------------
GATA messages (can link from main GATA page)
USAGold (Daily Report & Gold Discussion links)
Gold-Eagle (Digest & Forum links, 50 million hits since inception)
321Gold
Kitco (current gold prices and historical gold charts)
TheBullionDesk (Newswire link)
PrudentBear
Seabridgegold dot net (The case for gold)
Tocqueville (Brainstorms / they have a good gold fund too)
Silver-Investor

[peter.wedemeier1]

Dear Friends: This is quite important so please post it around the net.
Regards, Jim

Federal Reserve Chairman Greenspan
Confirms
Governor Bernanke`s Reintroduction of the Subject of Gold as Relevant to the
Present Economic Circumstances
By
James Sinclair
December 20, 2002

I have learned over time to recognize that when a Federal Reserve Chairman
discusses subjects, it is wise to take seriously not only what is said but
also the fact that it is said. It was this approach that gave me the cue to
know in 1980 that Chairman Volker was going to take the anti-inflationary
stance that he did successfully. It was this understanding that gave me the
courage after having led the 1968 - 1980 gold bull market as its largest
trader to sell 900,000 ounces of physical overnight plus an additional
1,200,000 ounces of gold as represented by Comex contracts the next day. The
day before gold had traded on the Comex at $887.50. Something equally as
important happened today and you must be informed. It is the absolute
opposite of March 1980 and means to me that gold is in a very long-term bull
market and will not be opposed by central banks. This is a major starting
point for gold for many years to come.
We have already heard from Chairman Greenspan suggesting we might have come
full cycle from the Volker experience. Now let me quote to you the opening
remarks of Chairman Greenspan today, December 19th, 2002, speaking to the
Economic Club of New York.

"Although the gold standard could hardly be portrayed as having produced a
period of price tranquility, it was the case that the price level in 1929
was
not much different, on net, from what it had been in 1800. But, in the two
decades following the abandonment of the gold standard in 1933, the consumer
price index in the United States nearly doubled. And, in the four decades
after that, prices quintupled. Monetary policy, unleashed from the
constraint
of domestic gold convertibility, has allowed a persistent over issuance of
money. As recently as a decade ago, central bankers, having witnessed more
than a half-century of chronic inflation, appeared to confirm that a fiat
currency was inherently subject to excess."

You have just heard the Chairman of the Federal Reserve speak the Gospel of
Gold. It was not said randomly. When a subject is put at the beginning of a
presentation to an important group by the Chairman of the Federal Reserve
System, it is there for a reason. I believe I know the reason. Gold is on
its
way back into the monetary system not, IMO, as convertibility but rather as
a
Gold Cover Clause different in form from the previous Gold Certificate
Federal Reserve Ratio that affected the cost of money as a corrective
mechanism. This time the Gold Cover Clause will function as a control over
the creation of fiat currency as a ratio to money supply in a free market
for
gold and valuation of US Treasury gold at market. I will explain to you
during Christmas how this will effect gold trading in a firm range, in my
opinion, at higher levels than we have so far experienced. I believe the
price of gold is headed higher without significant interruption. I firmly
believe that gold is headed back into the monetary system in a control
mechanism with an adjustable market mechanism. Gold will be trading between
$450 and $550 in 2003.

[peter.wedemeier1]

Eher das Gegenteil ist wohl der Fall.

Retailers Face Worst Holiday in 30 Years

Reuters
Tuesday, December 24, 2002; 1:20 PM



By Emily Kaiser

CHICAGO (Reuters) -

http://www.washingtonpost.com/wp-dyn/articles/A33964-2002Dec…

[peter.wedemeier1]

Gold Stocks 101 for NEW Investors
http://messages.yahoo.com/bbs?.mm=FN&board=7078940&tid=bgo&s…

[peter.wedemeier1]

DJ. INTERVIEW: Young Blood To Lift Japan Gold Demand In 2003

--------------------------------------------------------------------------------

Story Filed: Thursday, December 26, 2002 12:59 AM EST

TOKYO, Dec 26, 2002 (ODJ Select via COMTEX) -- By Jim Hawe

Of DOW JONES NEWSWIRES

(Dow Jones)--
http://library.northernlight.com/FA20021226400000014.html?cb…

[peter.wedemeier1]

Soothed by Golden Voices in the Darkness of My Night

by "farfel"

I almost lost my mind, I almost lost my life.

http://www.gold-eagle.com/editorials_02/farfel122502.html

[peter.wedemeier1]

http://www.cftc.gov/dea/options/deacmxlof.htm

[peter.wedemeier1]

Dec 31, 09:45
Climb to $510 foreseen by one analyst
By WENDY STUECK
MINING REPORTER


Tuesday, December 31, 2002 – Page B11
VANCOUVER -- Year-end profit-taking drove down gold prices yesterday, but fans of the precious metal say conditions are right to maintain the price momentum it built up in 2002.

Geopolitical tension, falling worldwide production and gold`s appeal as a hedge against faltering currencies drove gold`s performance this year and point to a positive outlook for gold in 2003, said John Ing, president of Toronto-based investment firm Maison Placements Canada Inc.
"There`s no question that this is more than a year-end rally," said Mr. Ing, who predicts gold could soar to as high as $510 (U.S.) an ounce in 2003.

[peter.wedemeier1]

Wednesday, 1 January, 2003, 15:54 GMT
Poland`s mines lose legal lifeline


Poland`s mines are outdated and inefficient



By Nicholas Walton
BBC correspondent in Warsaw
http://news.bbc.co.uk/2/hi/europe/2619997.stm

[peter.wedemeier1]

http://www.goldsheetlinks.com/agtable.htm

[peter.wedemeier1]

[peter.wedemeier1]

http://www.quicken.com/investments/insider/?p=mdg

[peter.wedemeier1]

Huge Physical Market Buying From Middle East Propels Gold to New Highs






EXCERPTS FROM `MIDAS` COMMENTARY FOR FRIDAY, JANUARY 3, 2003


http://www.goldseek.com/cgi-bin/news/GATA/1041672100.php

[peter.wedemeier1]

The ultimate top, many years away, could be as high (or higher) then $5,000.

[peter.wedemeier1]

N. Korea Warns `Sanctions Mean a War`
Tue Jan 7,11:35 AM ET

By HANS GREIMEL, Associated Press Writer

SEOUL, South Korea
http://story.news.yahoo.com/news?tmpl=story&u=/ap/20030107/a…

[peter.wedemeier1]

www.cluttercottage.com/chart/auwk1206.gif

[peter.wedemeier1]

Islamic Gold Dinar Will Minimize Dependency on U.S. Dollar


The first Islamic gold dinar was issued in 1992


By Khaled Hanafi, IOL staff

CAIRO, January 8 (IslamOnline) –
http://www.islam-online.net/english/news/2003-01/08/article0…

[peter.wedemeier1]

[peter.wedemeier1]

Gold vs $US Dollar - % Moves
Source: Bloomberg Charts
http://www.sharelynx.net/Markets/Charts/AUDXPCM.htm

[peter.wedemeier1]

http://www.cluttercottage.com/chart/auwk1206.gif

[peter.wedemeier1]

EXCERPTS FROM `MIDAS` COMMENTARY
FOR WEDNESDAY, JANUARY 8, 2003

By BILL MURPHY

Gold $353.80, up $6.90
Silver $4.83, up 4 cents

Yesterday`s Midas commentary headline, "Don`t
Expect Gold To Stay Down For Very Long," has
to be my most understated ever. Twenty hours
later gold not only moved back up, but blew
into new high ground.

"What`s going on?" I was asked during the
day. HELLO!

The same thing I have been reporting for over
a month now. The physical market is so strong
it is eating the lunch of the Gold Cartel and
other shorts. We keep seeing the same trading
pattern. Gold rallies sharply and then is
taken down by the cabal. The significant
physical market buyers are waiting in the
wings and pounce on gold during these
setbacks. The cabal is trying to turn the
black box big fund people into sellers by
triggering selling at certain price levels.
But the physical buyers, who are competing
for supply, are pulling the buy trigger
immediately after any sharp selloffs.

[peter.wedemeier1]

Zimbabwe mining firms on the brink
Independent Foreign Service
January 10 2003 at 07:59AM Harare - Key mining companies in Zimbabwe have warned they will not be able to pay January salaries and will have to shut operations unless President Robert Mugabe`s government implements an immediate rescue plan for the struggling sector. Representatives of mining firms met with mines minister Edward Chindori Chininga and expressed concern over the worsening operating environment, particularly a new requirement compelling them to surrender virtually all foreign earnings to the Reserve Bank of Zimbabwe. The warning by the mining sector comes amid claims that more than 300 000 private sector jobs will be lost in the first few months of the year unless radical measures are taken to halt Zimbabwe`s sustained economic slide.

The Zimbabwean government has implemented three separate policies for the gold, base metals and coal sectors.

Gold producers are not classified as exporters and are required to sell all their output to the central bank. The bank has agreed to pay them 20 percent of their output in foreign currency. The government has agreed to pay the remaining 80 percent at $1 to Z$150 (R23.55), a figure the sector considers too low since each greenback would fetch Z$2 000 on the black market. Robertson said it was therefore not surprising that production had fallen from 38 tons in 1999 to 15 tons last year.

***************

The curse of Fred C Dobbs on the South African Miners

[peter.wedemeier1]

Meridian facing permitting delays on Esquel

By: Tim Wood


Posted: 2003/01/10 Fri 13:00 | © Mineweb 1997-2003


NEW YORK --
http://www.mips1.net/mggold.nsf/Current/4225685F0043D1B28525…

[peter.wedemeier1]

NEW YORK -- Meridian Gold [MDG] is suffering expected interference from environmental pressure groups who have successfully delayed, again, a public hearing regarding the environmental impact study (EIS) for its recently acquired Esquel project.
The hearing will now take place on 29 March this year after initially being postponed twice since its original date of 4 December last year.

The delays now threaten targeted startup dates in 2004. Construction was slated to begin later this month or in early February. The mine has a projected capital cost of $90 million and should produce 100,000 ounces a year at a cash cost of around $100 per ounce.

Sources say pressure groups, including Greenpeace which is also disrupting Gabriel Resources’ [GBU] Rosia Montana gold project in Romania, have managed to get copies of the EIS which they are nitpicking. The groups have circumvented local and state authorities, claiming they are biased in favour of Meridian, and have appealed to federal officials to intervene. Sources say there is considerable squabbling between the various bureaucratic layers.

It is understood that Meridian is preparing to brief investors on the problems when it provides guidance for the fourth quarter during a conference call later this month.

Greenpeace has already led a protest against Esquel outside the national parliament building in Buenos Aires. Greenpeace also helped organize a local protest in the town of Esquel, which markets itself as a pristine tourist delight, on 4 January, which it claims was attended by more than 3,000 people.

In a rather pathetic attempt at symbolism, protest organizers gave Meridian representatives bottled water. Activists are claiming the use of cyanide leaching will contaminate local water supplies and create a hazard for the town that is within ten kilometers of the proposed mine.

Meridian antagonists have been distributing a profane electronic “Christmas Card” via the Internet with a picture of the Esquel mine site on it and a clear message that it’s not welcome.

Meridian Gold did not respond to requests for comment at the time of publication.

[peter.wedemeier1]

www.cluttercottage.com/chart/auwk1206.gif

[peter.wedemeier1]

Dollar falls sharply after big U.S. payrolls drop

January 10, 2003 08:48:01 (ET)


NEW YORK, Jan 10 (Reuters) - The dollar sold off sharply after the U.S. government reported a huge fall in nonfarm payrolls for December on Friday, falling to a fresh three-year low against the euro.

The dollar fell to $1.0571 per euro ((EUR=)), its lowest level versus the single currency since Nov. 1, 1999, and down 0.75 percent on the session. The dollar also quickly fell to session lows against other major currencies.

U.S. nonfarm payrolls fell 101,000 in December and the jobless rate held steady at 6.0 percent. Economists polled by Reuters on average had forecast a payrolls rise of 22,000.

The government also revised the payrolls decline for November to 88,000 from 40,000.

"These were bad numbers, much worse than expected. It adds to the uncertainty in the market and doesn`t do anything to improve the weak dollar sentiment and that is likely to continue," said Tod Van Name, senior vice president in the FX group at Mizuho Corporate Bank in New York.

[peter.wedemeier1]

Belovay`s two favourite Canadian gold producers continue to be:
- Meridian Gold Inc. (MNG/TSX) $26.05 ($32.98 - $9.88). This is one of Belovay`s core-holdings. The share price of this Reno, Nev.-based company came under selling pressure at the end of November after the sudden departure of Rich Lorson, Meridian`s former vice-president of exploration, he says. "This drove the stock price down to the benefit of short-sellers, but I did not sell."
Belovay remains confident in the company`s management, and likes its assets -- the El Penon Mine in Chile and its recently acquired El Esquel project in Argentina. "Meridian is a remarkable growth company with production growing from the current 430,000 ounce level to more than700,000 ounces in 2004, once the El Esquel mine comes into production." Meridian could make further acquisitions, says Belovay, but in keeping with its "prudent" approach, management is unlikely to overpay for an acquisition or overextend the company financially in the process."
- Goldcorp Inc. (G/TSX) $20.33 ($21.40 - $9.88). This Toronto-based company has a rich ore body at its Red Lake mine in northwestern Ontario. The company`s drilling continues to reveal multiple high-grade ore zones, he says. Given its strategic asset, the company remains a possible takeover target.
Getting in on the gold rush

Sonita Horvitch
Financial Post


Thursday, January 09, 2003
http://www.nationalpost.com/financialpost/story.html?id=A014…

[peter.wedemeier1]

[peter.wedemeier1]

Coral Gold and more!

By: David N Vaughn, FreeBuck.com
http://www.goldseek.com/cgi-bin/stocks/news/FreeBuck/1041810…

[peter.wedemeier1]

Please call

Wayne Hubert
MDG Vice President Corporate Development
1-800-572-4519
Or Fax [phone]


Wayne is a professional Chemical Engineer from South Africa with considerable mining engineering and geology experience. He does the conference presentations and will answer all of your questions as he has mine. The secretary Shari will take down your name and phone number and have Wayne call you in between his many meetings. Be patient and he will return your call. The MDG management is top notch in my opinion.

[peter.wedemeier1]

Riding the Golden Bull (and knowing when to get the hell off!)

http://www.goldseek.com/cgi-bin/news/GoldSeek/1042045956.php

[peter.wedemeier1]

http://www.lbma.org.uk/core_page.html

[peter.wedemeier1]

November 25, 2002

Minera Andes Receives Payment From the Sale of Two Argentina Properties
SPOKANE, WA—November 25, 2002
http://www.minandes.com/news/nr-021125.htm

[peter.wedemeier1]

MERIDIAN GOLD INC. - ARGENTINA UPDATE

Reno, Nevada, January 13, 2003 - The public hearing for the Esquel project in Argentina has been deferred from February 4th to March 29th. Meridian expects the Argentinean government will complete the permitting review two weeks following this hearing.
Meridian had expected to publish the Final Feasibility for the Esquel project at the end of the first quarter, once permits had been issued. The Feasibility Study will now be made public mid-April. However, construction will not be impacted, and will still start in the second quarter, following the anticipated permits being issued. Construction will take 12-15 months, with the first gold pour and production anticipated in mid-2004.
While there has been some opposition to the project, Meridian believes using chemicals to extract minerals is a safe and proven technology. Meridian Gold Inc. and its predecessor, FMC Gold Company, have a history of responsible performance over the past two decades. Meridian also believes the development of the mine will be beneficial to Argentina by creating jobs, paying taxes, and investing in the community.
Based on the engineering work completed to date, Meridian expects Esquel to be one of the safest mines it has ever built, incorporating all the latest technologies. All Argentinean standards will be met. In addition, the project will include a cyanide destruction circuit. Meridian has an exemplary track record of operating in a similar environment in Idaho, where the Beartrack mine, 11 miles from the town of Salmon, has been producing gold since 1994 without any reportable spills to the environment or any environmental citations. In fact, Meridian has earned several awards for its creation of wetlands in the area.

[peter.wedemeier1]

Meridian Gold Inc.
9670 Gateway Drive, Suite 200
Reno, Nevada 89521
Phone: [phone]
Fax: [phone]
For further information on Meridian Gold Inc., please visit our website at www.meridiangold.com, or contact:
Wayne M. Hubert Tel: [phone]
Investor Relations Fax: [phone]
Meridian Gold Inc. E-mail: [e-mail]

[peter.wedemeier1]

[peter.wedemeier1]

[peter.wedemeier1]

In the global situation, POG and POS solid flooring will soon explode above their respective $360 and $5.00 levels. The Commercial IBs have NO metal to cover their massive net Short positions of 360 tonnes for gold and 10,680 tonnes for silver.

[peter.wedemeier1]

The Shills that are swarming all the PM message boards want your shares cheaply. They cannot move down the POG or POS and now must buy the PMs to reduce their losses before the volcanoes explode. Strengthen your resolve Longs and buy the dips if you can. This storm too will pass and higher lows will be established.

[peter.wedemeier1]

In the end, the gold shorts will be defeated because, quite simply, they stole enormous amounts of monies from gold mining companies, gold miners, gold mining investors over the past years through artificial suppression of the gold price ---- and they have very negative karma coming their way today.

Their lies, distortions and propaganda are clearly apparent to anybody who simply wishes to open their eyes.

[peter.wedemeier1]

Just keep in mind Sal that, as per the latest COT report, the commercials hold some 100,000 net short futures in gold, one of their largest net short positions in history. From all indications they are selling gold, not so much from the hopes of making profits but more in the hopes of simply containing the dramatic gold price rise that has taken place over the past year. From all indications, the commercials are naked shorting gold like crazy with very little likelihood that they can deliver the physical gold, if the notice for delivery were to be presented.

[peter.wedemeier1]

At the same time, they are dumping gold stocks, not so much for the purpose of profit but solely from a desperate need to cap the gold market advance. Again, it is becoming evident that some of the major players are likely naked shorting gold stocks since their line of credit must be tapped at this point.

Reason: the gold carry trade is no longer profitable (now that the gold lease rate is so high relative to the T-Bill interest rate) so the commercial gold shorts can no longer utilize gold carry trade profits to short sell gold. Hence the commercial gold shorts must be tapping into their credit lines in a big way in order to continue shorting gold.
We are truly witnessing a "last line of defense" for the gold shorts at this critical 350 level--- and they are swamping the gold forums with negativity, lies, and distortions in order to force gold longs into capitulation.

I cannot fathom how anybody would sell gold or gold stocks in this dismal US economic environment, wherein the US dollar has fallen into a confirmed bear market.

It is sheer madness and a possible one way ticket to bankruptcy.

[peter.wedemeier1]

[peter.wedemeier1]

[peter.wedemeier1]

The commercial players are doing the very same thing with the gold price as they now hold some 100,000 net short contracts in the gold futures, one of the largest net short positions in history.

They are simply throwing gold and gold stocks out the window praying that nothing will come along to cause a spike that will destroy their astronomical short positions.

Are they in for a surprise.

[peter.wedemeier1]

[peter.wedemeier1]

Press Release Source: Meridian Gold Inc.

Meridian Gold Inc. Production Update
Tuesday January 14, 12:13 pm ET

RENO, Nev.--(BUSINESS WIRE)--Jan. 14, 2003--Meridian (NYSE:MDG - News; TSX:MNG - News) is pleased to announce unaudited production statistics for the Fourth Quarter 2002. For the fourth quarter, Meridian produced 108,000 ounces of gold at a cash production cost of $92 per ounce. El Penon produced 78,000 ounces of gold at a cash cost of $47 per ounce. Jerritt Canyon produced 27,000 ounces of gold at a cash cost of $223 per ounce.

For the full-year 2002, Meridian produced 437,000 ounces of gold at a cash cost of $87 per ounce. El Penon produced 328,000 ounces of gold at a cash cost of $35 per ounce and Jerritt Canyon produced 100,000 ounces of gold at a cash cost of $257 per ounce.

For twelve consecutive quarters, El Penon has produced on average of 78,000 ounces of gold at an average cash cost of $43 per ounce, which Meridian believes for this period of time, is the lowest cost production for any mine in the world. El Penon`s mined ore stockpile increased to a 77 day supply of feed to continue to provide operating and blending flexibility. Cash balances also increased reflecting the higher gold prices from $123.4 million in the prior quarter to approximately $135.5 million at year-end.

For 2003, Meridian expects El Penon to produce 320,000 ounces at a cash cost of $55 per ounce and Jerritt Canyon to produce 90,000 ounces at a cash cost of $270 per ounce.

A public hearing for the Esquel project is now being scheduled for March 29th. Meridian anticipates the Argentine government will complete the permitting review following this hearing. Once permits have been issued, Meridian will publish the Final Feasibility and subsequently commence construction. Construction will take 12-15 months, with the first gold pour and production anticipated in mid-2004.

Meridian Gold Inc. is a different kind of gold company because we focus on the quality of the ounces as measured by the profitability per ounce sold at spot prices, not the quantity of ounces produced. Meridian Gold Inc.`s 99 million common shares are traded on The Toronto Stock Exchange (MNG) and on the New York Stock Exchange (MDG).

For further information on Meridian Gold Inc., please visit our website at www.meridiangold.com.
------------------------------------------------------------------------
Contact:

Meridian Gold Inc.
Wayne M. Hubert, 800/572-4519
Fax: [phone]
[e-mail]

[peter.wedemeier1]

Meridian Gold Inc. Production Update


12:11 EST Tuesday, Jan 14, 2003

RENO, NEVADA--Meridian is pleased to announce unaudited production statistics for the Fourth Quarter 2002. For the fourth quarter, Meridian produced 108,000 ounces of gold at a cash production cost of $92 per ounce. El Penon produced 78,000 ounces of gold at a cash cost of $47 per ounce. Jerritt Canyon produced 27,000 ounces of gold at a cash cost of $223 per ounce.
For the full-year 2002, Meridian produced 437,000 ounces of gold at a cash cost of $87 per ounce. El Penon produced 328,000 ounces of gold at a cash cost of $35 per ounce and Jerritt Canyon produced 100,000 ounces of gold at a cash cost of $257 per ounce.

For twelve consecutive quarters, El Penon has produced on average of 78,000 ounces of gold at an average cash cost of $43 per ounce, which Meridian believes for this period of time, is the lowest cost production for any mine in the world. El Penon`s mined ore stockpile increased to a 77 day supply of feed to continue to provide operating and blending flexibility. Cash balances also increased reflecting the higher gold prices from $123.4 million in the prior quarter to approximately $135.5 million at year-end.

For 2003, Meridian expects El Penon to produce 320,000 ounces at a cash cost of $55 per ounce and Jerritt Canyon to produce 90,000 ounces at a cash cost of $270 per ounce.

A public hearing for the Esquel project is now being scheduled for March 29th. Meridian anticipates the Argentine government will complete the permitting review following this hearing. Once permits have been issued, Meridian will publish the Final Feasibility and subsequently commence construction. Construction will take 12-15 months, with the first gold pour and production anticipated in mid-2004.

Meridian Gold Inc. is a different kind of gold company because we focus on the quality of the ounces as measured by the profitability per ounce sold at spot prices, not the quantity of ounces produced. Meridian Gold Inc.`s 99 million common shares are traded on The Toronto Stock Exchange (MNG) and on the New York Stock Exchange (MDG).

For further information on Meridian Gold Inc., please visit our website at www.meridiangold.com.

FOR FURTHER INFORMATION PLEASE CONTACT: Meridian Gold Inc., Wayne M. Hubert, Investor Relations, [phone], [phone] (FAX), [e-mail]

© Copyright CCNMatthews

[peter.wedemeier1]

MERIDIAN GOLD INC. - ARGENTINA UPDATE
Reno, Nevada, January 13, 2003 - The public hearing for the Esquel project in Argentina has been deferred from February 4th to March 29th. Meridian expects the Argentinean government will complete the permitting review two weeks following this hearing.

Meridian had expected to publish the Final Feasibility for the Esquel project at the end of the first quarter, once permits had been issued. The Feasibility Study will now be made public mid-April. However, construction will not be impacted, and will still start in the second quarter, following the anticipated permits being issued. Construction will take 12-15 months, with the first gold pour and production anticipated in mid-2004.

While there has been some opposition to the project, Meridian believes using chemicals to extract minerals is a safe and proven technology. Meridian Gold Inc. and its predecessor, FMC Gold Company, have a history of responsible performance over the past two decades. Meridian also believes the development of the mine will be beneficial to Argentina by creating jobs, paying taxes, and investing in the community.

Based on the engineering work completed to date, Meridian expects Esquel to be one of the safest mines it has ever built, incorporating all the latest technologies. All Argentinean standards will be met. In addition, the project will include a cyanide destruction circuit. Meridian has an exemplary track record of operating in a similar environment in Idaho, where the Beartrack mine, 11 miles from the town of Salmon, has been producing gold since 1994 without any reportable spills to the environment or any environmental citations. In fact, Meridian has earned several awards for its creation of wetlands in the area.

For further information, please visit our website at www.meridiangold.com, or contact:

Wayne M. Hubert Tel: [phone]
Investor Relations Fax: [phone]
Meridian Gold Inc. E-mail: [e-mail]

http://www.meridiangold.com/press/jan13-03.html

[peter.wedemeier1]

MERIDIAN GOLD INC. - ARGENTINA UPDATE

Reno, Nevada, January 13, 2003 - The public hearing for the Esquel project in Argentina has been deferred from February 4th to March 29th. Meridian expects the Argentinean government will complete the permitting review two weeks following this hearing.
Meridian had expected to publish the Final Feasibility for the Esquel project at the end of the first quarter, once permits had been issued. The Feasibility Study will now be made public mid-April. However, construction will not be impacted, and will still start in the second quarter, following the anticipated permits being issued. Construction will take 12-15 months, with the first gold pour and production anticipated in mid-2004.
While there has been some opposition to the project, Meridian believes using chemicals to extract minerals is a safe and proven technology. Meridian Gold Inc. and its predecessor, FMC Gold Company, have a history of responsible performance over the past two decades. Meridian also believes the development of the mine will be beneficial to Argentina by creating jobs, paying taxes, and investing in the community.
Based on the engineering work completed to date, Meridian expects Esquel to be one of the safest mines it has ever built, incorporating all the latest technologies. All Argentinean standards will be met. In addition, the project will include a cyanide destruction circuit. Meridian has an exemplary track record of operating in a similar environment in Idaho, where the Beartrack mine, 11 miles from the town of Salmon, has been producing gold since 1994 without any reportable spills to the environment or any environmental citations. In fact, Meridian has earned several awards for its creation of wetlands in the area.

[peter.wedemeier1]

January 15, 2003
Sprott Securities Inc. Gold Rush Investment Forum Presentation

http://www.meridiangold.com/



Presented today by CEO Brian Kennedy and posted on the MDG Website. Download and view the PowerPoint presentation of 29 slides.


Some Highlights

Slide #6
Trailing 12 months Profitability 3 rd Qtr
MDG 33%………..S&P500 4.1%…………TSX Gold………..5.9%


Slide #14
El Penon Vista Norte ore discoveries replaces the entire 320,000 oz produced in 2002

Slide #16
MDG 2001 gold prod’n…..435,000 ozs
MDG 2005 gold prod’n….700,000 ozs

Slide #17 thru 19 On Esquel
Esquel production in mid-2004

Slide#20
MDG 2008 gold prod’n….>1,000,000 ozs

[peter.wedemeier1]

http://www.stockconsultant.com/consultnow/basicplus.cgi?symb…

[peter.wedemeier1]

CNBC

Gold, miners get Wall St. attention
JP Morgan technician sees $430 an ounce possible.>>

[peter.wedemeier1]

MDG got a strong buy today with a US$22 target

[peter.wedemeier1]

http://www.kitco.com/pr/1086/article_01152003104058.pdf

[peter.wedemeier1]

THOM CALANDRA`S STOCKWATCH

Gold, miners get Wall St. attention
JP Morgan technician sees $430 an ounce possible

By Thom Calandra, CBS.MarketWatch.com
Last Update: 10:39 AM ET Jan. 15, 2003







SAN FRANCISCO (CBS.MW) - Wall Street is starting to upgrade its opinions of gold and gold miners, a forlorn group that is trying to shake off years of torpor.


http://www.marketwatch.com/news/yhoo/story.asp?source=blq/yh…

[peter.wedemeier1]

Canaccord Capital
12-MONTH TARGET PRICE: C$34.00
C$34.00 = US$22.04

[peter.wedemeier1]

Canaccord Capital
DAILY Letter 13
Wednesday, January 15, 2003
MERIDIAN GOLD Brian Christie [phone]
(MNG : TSX : C$23.16 |MDG : NYSE : US$14.97 : ISSUED 96.2M) [e-mail]
STRONG BUY Brad Humphrey [phone]
12-MONTH TARGET PRICE: C$34.00 [e-mail]

Summary
The company is well financed (US$135.5 million in cash and equivalents), has no debt
and is unhedged. Meridian has also resisted issuing shares in an attractive marketplace for
doing equity deals. We are maintaining our STRONG BUY recommendation and our
recently increased target price of C$34.00, which is 2.5 times the company’s net asset
value and about 21 times 2003 cash flow. We continue to rate Meridian’s shares a
STRONG BUY.

[peter.wedemeier1]

JPM New Zealand Sees POG $430
“1535 [Dow Jones] JP Morgan technical analysts say gold could reach $430/oz "in coming years"; absence of any dramatic falls on recent way up to near 6-year highs (bullion plunged $25 on day it reached $341 in 1999) and ability to hold $348 support give increased credence to view market has double-bottomed at $252-$254, with gold now on track for rally toward $430. Recommend going long at $352.25. (WCP)”

>> Recommend going long at $352.25<<

The JMP from ZA, NZ, and AU, which are gold exporters, are all pro-gold unlike the enemy JPM USA.

For those that have worked in multi-national corporations, as I have, it is easy to understand the different business philosophies. Your international offices that should be your ally, are often your competitors. Very, very true. So then the message from JPM NZ has credence. I have seen the same message from JPM ZA and AU. Their clients are being advised to go long gold.

No doubt at all any more. The enemy gold cartel can no longer stop the POG rise. They want your MDG shares cheaply and they will use every dirty trick to get those valuable shares.

Longs show your resolve stay tight and buy these dips with any dry powder that you can. After these higher lows are established, we are going higher, much higher.

[peter.wedemeier1]

By Myra P. Saefong, CBS.MarketWatch.com
Last Update: 2:07 PM ET Jan. 16, 2003

With Iraq in the backdrop, analysts expected a strong year for gold.

Ross Norman, director of TheBullionDesk.com in London, expects gold prices to average $365 in 2003, with a high of $418 and a low of $305.

At this point, there are two scenarios when it comes to gold, he said.

Gold could fall to $325 then $305 if the Iraqi crisis in resolved and the U.S. dollar and equities stabilize this year, he said.

But Norman believes his second scenario will more likely occur. If President Bush fails to contain the current Iraqi crisis and market confidence in the equities and the dollar crumbles, gold could leap to the $350 to $418 range.

Gold would then see "a self-fueling cycle driven by fresh investor demand and Asians prepared to let the market levitate" and market consolidation amongst producers adding to the bullish sentiment, he said.

"Never before was such a good case made for the active development of both a wholesale and retail investment market for gold. Fingers crossed -- the market seizes the opportunity," Norman said.

Frederic Panizzutti, a gold analyst at GoldAvenue, a major gold online trading company expects prices to reach an average of $350 for the year, a high of $410 and a low of $320.

"We would expect further strength in 2003 since similar factors that drew the price higher in 2002 such as threat for further terrorist action and the risk for a military intervention in Iraq combined with a weaker U.S dollar against major currencies and volatile stock and currency markets shall continue to prevail in 2003," he said.

[peter.wedemeier1]

Headquarters Office:

Meridian Gold Inc.
9670 Gateway Drive, Suite 200
Reno, Nevada 89521
Telephone: [phone]
Toll Free: [phone]
Fax: [phone]

Investor Relations:


Wayne Hubert
Vice President, Corporate Development
& Investor Relations
[phone]


Call Toll Free: [phone]

Esquel now has a 4th rig. There was much discussion about Esquel at the Nov 21 conference which is audio archived for 3 months (Feb21/03) as indicated below. This is a must listen to. Since that Conf I have had discussions with MDG and it is confirmed that the 4th rig is on site and actively drilling. The MDG geologists confirmed 3 mil ozs on Nov 21. However with all that drilling and exciting finds in the Ungoliant vein, in my opinion that will be doubled to 6 mil ozs of confirmed reserves some time in the near future. The 3 mil vs 5 mil by BNC was based on the BNC drill results at that time and interpretation of those results. Slide 19 from the Sprott conference clearly shows the expanded drill acreage and the Ungoliant vein length. In addition MDG has acquired some adjoining acreage which also has considerable potential.

MDG 3 phase growth plan

Phase I ………..yr 2003 prod’n 430,000 ozs/yr
Phase II ……….yr 2005 prod’n 700,000 ozs/yr
Phase III……….yr 2008 prod’n +1,000,000 ozs/yr and initiate dividends


Esquel is the main driver for phase II and phase III







http://www.meridiangold.com/investor/confcall.html

November 21, 2002
Analyst Roundtable Discussion
A live simul-webcast is scheduled to take place at 10:00 a.m. ET on Wednesday, November 21, 2002. You can listen to the webcast on www.viavid.com, or click the appropriate link below and you will be taken to the sign-in page for the webcast. For whose time does not allow, an archived version of the webcast will be available for a period of three months following the call.
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[peter.wedemeier1]

CFTC Response to Silver Problem

Editor`s Note: The following communiqué exchanges between Jason Hommel and the CFTC about the Silver Problem.

Open Letter To the Authorities of the Silver Markets

In reply to David Kass, Senior Economist, CFTC
http://www.gold-eagle.com/editorials_03/hommel011403.html

[peter.wedemeier1]

Als unterstützende Maßnahme habe ich eben gerade meinen Tipp geändert:

Thanks for the inspiration re: Fidelity

Upon further reflection, I have decided to contact the SEC on Monday in order to query them about the recent price action in MDG. I`ve decided that proactive measures are necessary in order to safeguard my interests and other MDG shareholders. So thanks for getting me sufficiently pissed off about the matter to contact the authorities and memorialize my complaint for the record. God bless you, you go ahead and contact them vis a vis your complaint, I will contact with respect to my own.

What I want to know is this: why did MDG fall some 30% during a period when its current operations are simply outperforming beyond all historical measure...at a time when its future prospects have simply never been better.... and at a time when the gold price is setting a new multi-year high?

I would like the SEC to take a close look at the derivatives book of Fidelity and determine whether the company, under the guise of being a friendly long shareholder in the company, is acting against the stock to assist its derivatives positions and the derivatives positions of other gold short commercial interests.

The bottom line is this: MDG had one of the largest written call positions in its past year history during the January cycle and the writers of those calls made multi-million boatloads of money. I think it is worth knowing whether or not Fidelity is the writer of those calls and if so, is Fidelity misrepresenting its intentions toward MDG? In other words, is Fidelity acting in the de facto role of a gold short WITHOUT formally declaring so as required under SEC regs?

Worse yet, are Fidelity`s large stakes in various other major gold producers truly intended for long purposes or are they designed in a de facto sense for the purposes of ultimately benefiting gold short positions in the futures market, either their own or gold short positions held by various friendly commercial proxies/associates?
Or are they simply long positions designed as a means of generating multi-millions of derivative profits during certain option cycles, in the form of writing calls and buying puts, then selling down the actual stock posiitons to benefit the written call and bought puts?

What is becoming apparent is the growing imperative to force Fidelitiy to open its gold funds` derivatives book and have some third party make a thorough examination of same, not simply in respect to MDG but in respect to its entire gold book.

That MDG fell as it did in conjunction with a media smear campaign engineered by Tim Wood of Mining Web at a time when MDG call derivatives were huge by historical standards is highly suspicious to the nth degree.

I want a formal memorialization of my concerns so that if contravention of SEC regs or any other form of malfeasance is determined to have been perpetrated by commercial players with respect to MDG, then the SEC will have no option but to nail them to the wall, or else face queries from politicians (like Ron Paul) as to why they are failing to enforce SEC regs.

Basically, I am sick and tired of a Wall Street Establishment that somehow feels that the rules of proper conduct do NOT apply where gold or gold stocks are concerned. Through the price rigging of the longstanding gold carry trade, they have done HUGE damage over the past several years to the industry, the miners and their families, and gold investors.

Enough is enough, as a gold investor, I am sick and tired of being a financial victim. I urge other MDG investors to contact the SEC with a copy of this post, get off your butts, and COMPLAIN LOUDLY.

Thanks again for the inspiration.

http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

UN inspectors uncover proof of Saddam`s nuclear bomb plans
By Con Coughlin
(Filed: 19/01/2003)


http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2003/01…

[peter.wedemeier1]

The Jan 14 COTs Fut. & Opt
data tell the story.

The Commercial head-shakes failed to fake-out the world on Monday Jan 13. The Longs are not folding and are little change from the Jan 7 data. As of Jan 14, the Big and Small Speculators hold 10,532 net Long tonnes of silver and 351 net Long tonnes of gold. This is little change from the Jan 7 data in which the Big and Small Speculators held 10,680 tonnes net Long silver and 360 tonnes net Long gold. POG 350 held solidly and now POG 355 is becoming entrenched. The overnight +$10 jump in POG is coming.

Weak holders of gold shares keep looking over their shoulder thinking from year 2002 performance that there has to be a downslide. This is only a short-term war premium right. Wrong, this is a long-term USD weakening issue. Worldwide the massive US$ in Asian, Islamic and OPEC treasuries are being converted to either Euros and/or gold.

The Chinese alone hold a massive $350 billion surplus USD. China CB went from 500 tonnes to 600 tonnes current holdings in one month (Nov/Dec02) and that 100t cost US$ 1.0 billion. The global gold prod’n for 2002 is expected to have been 2350 tonnes. Global gold prod’n is dropping at the rate of 4% per year so the 2003 new supply is expected to be 2260 tonnes. The entire 2003 gold prod’n of 2260 tonnes at current price of US$ 356 is worth US$ 26 billion or approx 1 month of China’s current trading surplus with the USA which is approx US$ 29 billion. The WGC is urging Asian nations to hold 15% of their treasury assets in gold and the Asian govts are beginning to take this advice very serious as they see their US$ holdings value deteriorate very rapidly. Well 15% of China US$ 350 billion is US$ 52 billion or about 2 yrs of the entire global new gold prod’n. Then there’s Japan’s surplus.

Add to this the massive Islamic and OPEC US$ holdings that are being converted to gold. The start of Malaysia gold dinar commerce between Muslin nations. If that is not enough then think about the 1000t of miners hedged gold led by ABX 400t that must be covered as their balance sheets start to go red.

POG 356 doesn’t do it. The POG must rise and big to cover all the US$ out there in foreign treasuries. New grass roots mines need POG +400 to be feasibly economical. POG 350 allows for some expansion, but like Lalonde’s NEM said do not expect it. It’s only the harder to get ore that is available. Deeper or sulfide ore requiring chemical extraction where recovery is 85% and not 95% and the gross cost is $250/275 per oz. Taxes and labor costs are on the rise.

This is hardly the same picture as in the past 50 years so that all the historic TA analysis is really just that historic, out of date and totally misleading. The only thing that hasn’t changed is the chemical properties of gold itself. The economics of the world has changed and the overwhelming big factor is that the world’s largest economy, the USA has given up its manufacturing base. It is now simply a service economy, with a military machine that must be fueled by foreign oil. The USA economy must import to the tune of US$ 40 billion per month. The US$ 9 trillion GDP must now be downgraded as the current account deficit at US$480 billion is closing in on 6% of the GDP. At 5%, that country’s currency is supposed to be devalued by world economic rules. The world kept hoping, but now it is inevitable that USD must continue to slide. Currently at 101, it is not unreasonable to expect another 20% drop to 80. At 20% USD drop, POG should be 427. Not unreasonable at all…. for starters

So there you have it. The global Big and Small Speculators, the so-called non-Commercials and non-Reportables, know this entire grim picture and are not about to be faked out by the Commercial head-shakes. Until next week’ COTs report.

http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

MDG--Mentioned in Barrons today
Gabelli: The last time gold was at $400 an ounce, the XAU [the Philadelphia Stock Exchange Gold and Silver index] was about 180. Gold today is $355 an ounce, and the XAU is at 80. The contracts haven`t moved.

Zulauf: Well, the XAU is composed of different sorts of gold companies, and the heavyweights are those that hedge. They don`t benefit from the rise in gold prices. Placer Dome and Barrick Gold hedge. They do not move up with the price of gold. Among the large-cap stocks, Newmont Mining has started taking its hedges off. It wants to go fully unhedged.

Gabelli: The index has changed since 1994 because of mergers.

Black: Isn`t there one fallacy in your reasoning, Felix? Let`s assume M2 or M3 [measures of money supply] grew by 7% or 8%, which is what happened in the past year. What happens when you`re getting productivity gains of 4% and 5%? Ultimately, you`re not going to have inflation.

Zulauf: The policy of the U.S. central bank is going to destroy the dollar. Confidence in the U.S. currency at some point will collapse, and you`ll have a run on dollars. Money can`t go to other currencies, because they have to support the dollar. Gold will act as a monetary currency -- a currency without the liabilities of ill-guided central bankers. Another way of looking at it is to say the U.S. has underinvested in capital investment to supply the goods that U.S. consumers are demanding. You have spent your money by buying on credit instead of investing. The Chinese are investing. They are building an empire.

Samberg: With our money.

Q: Felix, do you like any gold stocks?
Zulauf: I am not a stockpicker in this field. I would just go with names that don`t hedge -- for instance, GoldFields, Meridian or Newmont. Buy them and hold them. They will all be 10-baggers over the next 10 years.

[peter.wedemeier1]

Top Financial News



01/19 11:00
U.S. Dollar Headed for Weekly Decline Against Major Currencies
By Heather Bandur


Tokyo, Jan. 20 (Bloomberg)

http://quote.bloomberg.com/fgcgi.cgi?ptitle=Top%20Financial%…

[peter.wedemeier1]

Fidelity FSAGX Holdings of MDG
Date………………….Shs

2/29/00………… 6,422,800
2/28/01…………..3,927,400
2/28/02…………..2,774,000
8/31/02…………..2,774,000

Data from Fidelity Annual and Semi-Annual Reports.

On 8/31/02, FSAGX had total assets of $552 million and the MDG 2,774,000 shs at $19.15 had a value of $53 million which would be 53/552 = 9.6% of the FSAGX portfolio. This made MDG #1 portfolio holding based on value %

Fidelity FSAGX total assets are $697 million as of 12/31/02. Value of MDG on Dec 31/02 close was $17.63. Therefore value of the 2,774,000 shs was $48.9 million which would be 48.9/697 = 7.0%. of FSAGX portfolio.

It is expected that the MDG position will drop in the ranking of the FSAGX portfolio. This is confirmed from the latest FSAGX ranking as percent of portfolio is listed from their web site. www.fidelity.com


FSAGX as of 12/31/2002

KINROSS GOLD CORP
GOLDCORP INC
MERIDIAN GOLD INC
ABER DIAMOND CORP
GOLD FIELDS LTD
AGNICO-EAGLE MINES LTD
TVX GOLD INC
FREEPORT MCMORAN COPPER CL B
HARMONY GOLD MINING CO LTD ORD
NEWMONT MINING CORP HOLDING CO
60.80% of the portfolio

While it is not known whether FSAGX added or subtracted MDG shares, it is known that 7.0% value/value would have only been good enough for the # 5 spot from the Aug 31, 2002 detail data. It is more likely that FSAGX has added MDG shares for it to be in the # 3 spot.

Details of shares held will not be known until the annual report prospectus is issued on Apr 29 2003.


The recent press release about FMR holdings is reposted below.

>>Dow Jones Business News
Fidelity Holds 15.07% Stake In Meridian Gold Dec02 02
Monday December 2, 5:32 pm ET
BOSTON -(Dow Jones)- Certain accounts managed by Fidelity Management & Research Co., Fidelity Management Trust Co. and Fidelity International Ltd. have acquired 30,000 shares of Meridian Gold Inc. .
In a news release, Fidelity said it now holds 14,902,922 shares, or 15.07%, of Meridian Gold.
Fidelity said the shares were acquired for investment purposes only.
Meridian, Reno, Nev., is a gold and silver mining and exploration company.
-Wendy Tsau, Dow Jones Newswires; 416-306-2100 <<


So the bulk of the remaining (14,902,922-2,774,000) = 12,128,922 shares are somewhere else in the Fidelity FMR org and not with FSAGX.

http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

[peter.wedemeier1]

Absolutely zero hedge since 2001

http://www.meridiangold.com/coldfusion/search_framed.cfm

Q. What are Meridian`s views on hedging?

A. Strong, but let us begin by saying that we are a shareholder-focused company, and based on our research and experience, we believe our shareholders want full exposure to movements in the gold price. For this reason, during 2001, we paid off our bank debt years early and removed all the bank required gold hedges.

We believe gold alone is unique in the financial system, in that it is the purest of all assets. All other remaining assets are paper-based and are, ultimately, someone else`s liability. What makes gold companies unique within the equity markets is that the products we produce have both consumer and financial characteristics. Hedging essentially neutralizes a gold company[`s reserve by turning the most pure financial asset into a financial liability owed to a bullion or central bank. In fact, we have seen in the last few years how inappropriate hedging can destroy otherwise "healthy" gold companies.

During periods of certainty and/or low inflation, the consumer characteristics of gold are reflected in jewelry consumption which dominates the demand side. In contrast, during conditions of uncertainty and/or high inflation, the financial characteristics of gold cause higher investment demand resulting in higher gold prices. These conditions pose significant risks to hedged gold companies. We believe remaining unhedged significantly lowers a gold company`s financial risk, when coupled with low operating costs. Lower financial risk should result in a higher multiple for the unhedged producer over the hedged producer.

At Meridian, we believe the best way to remain hedged in this business is to provide a long-term platform of profitable gold production at varying market prices. This permits the investor to optimize the inherent cyclical investment characteristic of gold. We believe the only variable we directly control is our operating costs, including cash cost and non-cash cost. Therefore, the majority of our time and effort goes into improving our day-to-day process - doing what we do today more efficiently than what we did yesterday.

It is Meridian`s intention to sell its production forward only when required to do so by bank financing for a new mine. To offset this potential requirement, we have been building up significant cash balances that would minimize the amount required to finance the construction of a future mine.

In 1998, Meridian was faced with a very difficult situation: whether to issue equity, about 6 million shares, or to borrow $30 million to build El Peñón. In order to avoid the permanent dilution that occurs when issuing equity and because of the quick rate of return in capital, we decided to borrow. As a consequence, however, the banks required Meridian to hedge our revenue stream against the $30 million we borrowed to build El Peñón. In hindsight, we would make the same decision today because we don`t believe our share price would have appreciated as much over the interim period of the Company`s shares had been diluted by nearly 10% with new shares issued. We believe the prudent use of debt can leverage superior returns to our shareholders.

In conclusion, Meridian will remain unhedged because we want instant leverage against gold prices, while remaining protected on the downside by low operating costs. We believe the current low real interest rate and the low industry exploration expenditure environments are both very positive for gold in the medium to long term. In addition, we do not believe the risks of hedging are commensurate with the marginal returns implied with the current contangos.

http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

Dollar Has Its Biggest Gain Against Yen in Almost Two Weeks
By John Brinsley

Tokyo, Jan. 20 (Bloomberg) -- The dollar had its biggest gain in almost two weeks against the yen on expectations Japan will sell its currency to stem gains that erode exporters` earnings.

The U.S. currency traded at 118.16 yen at 10:29 a.m. in Tokyo, from 117.83 late Friday in New York. It rose against the euro for the first time in five days, strengthening to $1.0644 from $1.0678.

``Fear over whether the Bank of Japan will sell the yen is the one thing supporting the dollar, especially with it trading below 118 yen,`` said Takashi Nakata, head of spot proprietary trading at BNP Paribas in Tokyo.

The dollar`s rise accelerated after it reached 118.10 yen, a level that triggered automatic orders to buy, said Motohiro Uchino, assistant manager of customer trading at Daiwa Bank. Traders often place automatic orders to buy or sell to limit losses in the event their bets go the wrong way.

The dollar may rise to 118.40 today, Uchino said.

[peter.wedemeier1]

Felix Zulauf - Barrons article
Last paragraph in article;

Q: Felix, do you like any gold stocks?
Zulauf: I am not a stockpicker in this field. I would just go with names that don`t hedge -- for instance, GoldFields, Meridian or
Newmont. Buy them and hold them. They will all be 10-baggers over the next 10 years."

http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=18461…

[Mannerl]

Hallo Peter!
Hallo zusammen!

denkst Du das die Aktie noch steigen wird?

MFG

[peter.wedemeier1]

Here is one CB that likely got caught `short` (portent of things to come?):

http://m1.mny.co.za/MGLdn.nsf/Current/8525690B0032142042256C… ent

[peter.wedemeier1]

@MannerI
MDG ist momentan sehr unterbewertet. MDG hat unter einem Artikel von Tim Wood gelitten. wird vermutet, das Barrick dahinter steckt.
Dort gibt es nur vier nennenswerte nicht-verschuldete ungehdegte Goldminen in Nordamerika und MDG ist eine von Ihnen.
MDG kann bei seinem derzeitigen Niveau sehr leicht zum Übernahmekandidat werden.
MDG ist bei einem Goldpreis von $354 und wenn man historische Bewertungen relativ zum Goldpreis heranzieht aktuell sehr stark unterbwertet. MDG ist um minimum $10 - $15 pro Aktie unterbewertet auf technischer und fundamentaler Basis.

Bei MDG können wir sehr schnell $25 - $30 sehen.

MDG befindet sich momentan weit unter seinem wahren Wert.

[peter.wedemeier1]

Aktuell $355,80!

[peter.wedemeier1]

Lese am besten mal unter #100. Dort habe ich einen Brief von einem Altaktionär gepostet! Diese Kursmanipulation soll einer Übernahme dienen. Barrick benötigt dringend ein ungehedgtes Unternehmen.

[peter.wedemeier1]

On Sept 30 2002.

An excellent technical summary!

“The international gold hedge book - the cumulative hedging activities of 98 gold producers, representing 65% of total gold production - continued to shrink during the third quarter of 2002,declining by 4.8 Moz (150 tonnes) to total 86.6 Moz (2,692t). Over the past 12 months (Sept to Sept) this total has fallen by 15.0 Moz (466t).”



http://www.thebulliondesk.com/reports/temp/vmQ32002.pdf




Combined with the Commercial COT reports Jan 14 of 351 tonnes, the identifiable net gold Short is 2692 + 351 = 3043 tonnes. Assuming additional hedge producer coverage in 4th qtr 2002, it is believable then that net identifiable global Short gold is approx 3000 tonnes for future discussions. If other information becomes identifiable then we will of course update.

The 3000 tonnes is a massive Short position,especially now that new gold prod’n is expected at only 2260 tonnes for 2003 and with a 4% drop to be at 2170 tonnes for 2004. There are absolutely no stockpiles to draw from. In addition companies like GG are withholding about 10% of their prod’n as well as buying on the open market to convert dollars into gold for their treasury. In addition more of the PM shareholders are converting their received increased dividends into gold coins and bars. With all of this increase in investment gold, even as some jewelry demand drops off as reported by some centers, the total global gold demand is now +5000 tpy. Up to recently, new gold + recycled gold + CB sales + Commercial Shorting has covered the demand, but for each month the shortage of supply vs demand has widened hence the POG rise. The delta difference is now reaching Herculean proportions as the monthly shortages add up. I repeat as I have said before, the day is fast approaching when we begin to see daily +$10 jumps in the POG and from there it gets bigger and quicker.

Tech
http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

That Sinking Feeling: Deflation in Goods and The Dollar

A rebuttal to “Gold & Gold Shares,” opinions issued this weekend, January 19, 2003,
by my respected colleagues separately, and for various reasons reviewed,
Andrew Smith and Robert Prechter

By

James Sinclair, Chairman & CEO
Tan Range Exploration

[peter.wedemeier1]

"Total global short position is 15,000 Tons"

I am trying to research how this massive total may be accounted for. So far this total is not accountable for with published data such as published COT reports and producer hedge positions. Do you or any of your investment associates know which legal documents might illustrate more information? So far we can account for approx 3,000 tonnes net Short by adding up the weekly Commercial net Shorts to the existing global producer gold sold forward. If indeed there is 15,000 tonnes Short, then perhaps the remaining 12,000 is off the books. Perhaps a 2nd set of books exist? Your thoughts?

Tech
http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

Re MDG vs ABX

“With the global speculators driving up the POG, the main thrust now in the gold sector, is for the hedgers to take over the unhedgers. These mega-mergers/takeovers will be the future headlines over the 1H03.”

The Blanchard law suit against JPM and ABX, notes ABX action of suppressing the shares of a targeted company and then accumulating and finally the hostile takeover. Barrick grew from nothing to the giant all by questionable actions in conjunction with JPM.

But time has now caught up with ABX. Saddled with the 13 mil ozs (404t) hedged, it is bleeding profusely. Red ink everywhere. The stock is floundering. On Jan 17 2002 ABX was at $17.10 and on Jan 17 2002 ABX closed at $15.66, which is –8.4% yty. Wall street and global investors are selling ABX based on projected flat to negative earnings due to unrealized losses on the contracts. Those that buy ABX, bet that mgmt will do something, anything, like the good old boys could. ABX has posted its hedging policy on its web site and makes it sound like a no-lose situation. It would take a team of lawyers to decipher the implications as it is filed with so many escape clauses; the most potent of which, it cannot get a margin call. Wall Street says nay and that is why the stock price is negative yty. Who knows maybe the oilcan Harrys can pull it off? Time will tell.

“For ABX, the 404 tonnes hedged at 356 POG would cost US$4.6 bil. At 400 POG would cost US$5.2 bil. MDG total reserves and resources in SA, USA and now Mexico equal the 404 tonnes. The 98 mil MDG shares at avg $20 is US$2.0 bil. The math is obvious and ABX must-do strategy is obvious.”

ABX and other hedgers have their hooks into MDG and the only course of action for MDG Longs is to keep buying the dips to benefit from the eventual rise up. It will take patience and resolve, as no doubt exasperation will try to set in. The current number of new posters is no doubt paid mercenaries from ABX hired guns or misc. camp followers. The flags they raise are the tricks of the gold-coast pirates. First the friendly Goldbug flag, then sooner or later the jolly roger as they get closer. Their comments and syntaxes give them away if each Long reads carefully.

As I have mentioned previously other non-hedgers are under take-over attacks so it is not just MDG.

Long and Going Longer

Tech
http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

Yes I have read the GATA and Chapman articles as well reporting the 15,000 tonnes shortage. However, until it can be substantiated, Goldbugs need to be careful as we will be portrayed as sensationalizers and thereby scare away the neutral investors that we are trying to persuade to join us. The anti-goldbugs use this kind of unsubstantiated commentary against us to frightened away Main and Wall Streeters. In addition the Shills, Bashers and Shorters use this kind of talk to make their case.

There is hope however as now 3000 tonnes net Short has been documented in my new post. This amount of gold Short documented position is simply beyond everybody’s technical comprehension. There is no denying it. It cannot be waved off as sensationalism. It is the kind of data once understood by global analysts, that will drive POG to +400. Thank you for posting.

Regards

Tech

http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

GATA "substantiates" 15,000ton short
"Word is the Portuguese central bank sale was the result of an options structure arranged in tranches over 1997 and 1998 (a collar). This is exactly what MIDAS reported over the past years and may only be the tip of the iceberg. Central banks wrote calls above the market and gold is being called away from them.

"I doubt this gold will ever see the physical market because of the massive 15,000 tonne gold short position. There is a scramble out there to get hold of physical gold to honor prior commitments. The Portuguese have found that out.

"The big news, as far as GATA is concerned, is the revelation that 70% of the Portuguese gold is gone. How many other central banks are in the same predicament? The Portuguese gold loans/swaps are not in the gold loan numbers of the World Gold Council and GFMS. Their gold loan numbers are only 4600/ 5,000 tonnes. The GATA/Howe/Veneroso numbers are more than three times the official gold industry numbers.
http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

GOLD = 15,000 tonne SHORT BUBBLE
GOLD WOULD HAVE TO RISE TO $1000 OUNCE FOR
ALL SHORTS TO COVER (TURK REPORT)

[peter.wedemeier1]

"MDG is a high growth dynamo and a steal compared to the S&P. Even according to traditional valuation methods it is a pretty good buy."
http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

Bloomberg* Time for gold Shares

While the gold stocks have been backing off a bit lately, or at least lagging the bullion, Bugos thinks now could be a good time to get in them. First, many sold their shares as an Elliott Wave analysis seemed to be showing a double top in the price of gold. He thinks many of them are waiting in the wings for a pullback in the shares to reopen positions. Second, the shares had a very strong run this summer while this primary move in the bullion did happen until the 4th quarter. Finally, Bugos notes that not everyone is convinced in the bull market for gold that he sees moving the price up to at least $370/oz in the very short term. As investors become more and more convinced, he feels the premium given to gold shares over the price of gold will only expand. http://quote.bloomberg.com/fgcgi.cgi?

[peter.wedemeier1]

TURK REPORT
The massive central bank 15,000-ton short position cannot be covered unless gold rises to those levels," Murphy says about $1,000 gold. "The jewelry-wearing women (and men) of the world will have to bail the bankers out by bringing their gold to the market."
For my money, Turk at Freemarket Gold & Money Report deserves credit for his decades of hard-nosed analysis of currency and commodity trends. Turk`s gold-price projections call for a $434-$438 gold price at the end of February, "before heading to above $600 this summer." Step in step with gold`s decline will come a continued decline in the dollar, which fell about 16 percent against the euro in 2002 while gold was gaining 25 percent for the year.
Turk says the dollar`s fall against the currencies of its trading partners could fall 5 percent in the next five weeks. The euro at midday New York time Tuesday reached $1.07 for the first time since Oct. 25, 1999.
Gold`s spot price at midday Tuesday was up $2 to $357.50.
For more, see Freemarket Gold & Money Report

[peter.wedemeier1]

MDG COULD JUMP 2.50 IN ONE DAY
MDG IS ONE OF 4 PURE UNHEDGED GOLD PRODUCERS
IN THE ENTIRE WORLD.

GOLD HAS BEEN CONSOLIDATING BELOW 357 (KEY
AREA FOR SHORTS TO COVER) FOR WEEKS. GOLD
AND MDG COULD EXPLODE AT ANY TIME.


THERE IS A CRONIC SHORTAGE FOR UNHEDGED PRODUCERS

MDG COULD EASILY JUMP 2.50 IN ONE TRADING
SESSION ALONE.

MDG COULD DOUBLE IN VALUE IN 30 DAYS

THINK LONG-TERM

BASED ON GATA`S FAIR VALUE ESTIMATE OF GOLD ($785)... IF NO ILLEGAL PRICE MANIPULATION.
MDG IS EASILY A $100 STOCK AT SOME POINT IN THE FUTURE.

NO AMOUNT OF MARKET MANIPULATION CAN STOP
MDG FROM REALIZING A FAIR VALUE OVER THE LONG-TERM.
http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

[peter.wedemeier1]

The Chinese central bank increased its gold reserve by 100 tons in the last quarter of 2002. That should go well with the 300 ton projected increase in public Chinese consumption in 2003. That 400-plus ton off-take wipes out the total official sales under the Washington Agreement. China will need gold because it faces a serious shortage of mineral resources. We then add to the mix a 1500 ton shortfall of production to usage, falling production and 15 to 29,000 tons either sold or short by central banks and you have a potent concoction that could send gold soaring. The game is over and we won. Watch the price soar and watch the failure and scandals that ensue. Next we pass into the illiquidity phase and that is when the shorts panic and pandemonium sets in. February will be a monster month for gold following an excellent January.

[peter.wedemeier1]

"...with gold around 360, MDG stock ought to trade for a minimum 25 bucks a share."
http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

Technical analysts at JP Morgan said in a report late Monday that gold is
still consolidating after forging a fresh high Thursday, and advised
participants to buy into the current pullback at US$355/oz while placing sell-
stops under US$352/oz.
They added that gold could rally towards US$362-US$363/oz as long as
US$352/oz holds.
Gold rose to a new high in almost six years of US$358.70/oz Thursday in
New York.
But in the longer term, it appears that gold has found a new group of
retail investors keen to hold the bullion for the long haul, said a Singapore-
based trader.
Since gold`s ascent, he said he has received requests for information on
gold`s outlook and how to invest in it from "the man on the street."
"Generally, people are looking to pile into it (gold) as well as gold,
which some feel has been overlooked," he said.

[peter.wedemeier1]

From The International Forcaster, 1/20/2003
By Bob Chapman.
"Gold closed up for the seventh week in a row, a truly phenomenal performance. Anyone who doesn`t recognize that gold is in a bull market is just plain stupid. The gold manipulation cartel are buyers probably for themselves. Then there are the producers who are hedged, speculators who are short, banks and central banks that are short and the mega shorts in the gold shares that really haven`t moved yet. As we told you at the beginning of the year gold will be $500 an ounce by the end of February and $840 an ounce by June or December. There is somewhere between 15,000 and 29,000 tons either short or sold and we are about to see a demolition derby that will last for at least two years.
Silver is soon going to follow gold in a seccession of lock-limit up days, and the specialists on the CFTC will be wiped out.
Do we hear force majeure?
The commercials are about to be decimated. While the biggest gold and silver bull market in history gets underway Wall Street ignores it, CNBC lies about it and the Fed and the Treasury are frozen in the headlights."

[peter.wedemeier1]

Bill Chapman
"Portugal sold 15 tons of gold. Its report reflected a 606 ton reserve now 591 tons with a swap of 381 tons and leased 52 tons or over 70% of reserves. They are probably the second biggest gold lender in the world and that really means 70% of reserves have already been sold. As we said before the game is over and we have won. Just wait and see. It will soon be public knowledge that most of the sovereign gold reserves are gone and all these countries have been lying about their gold reserves for a long time."

[peter.wedemeier1]

Lagging Gold Stocks
by Rick Ackerman

A subscriber has forwarded a chart with implications that should hearten those of you who have been disappointed by the less-than-stellar performance of gold shares relative to the metal. The graph was produced by a firm called Proteus Capital Corp. (www.proteuscapital.com), which has developed a nifty "Gold Stock Fair Value Indicator." Having compared the London p.m. fixing to a monthly average of the XAU index of silver and gold stocks over the last 20 years, Proteus concludes that gold shares would have to rally 20% to catch up with $350 spot. They offer no guarantees, of course, but the two-decade price history shown by this graph is reassuring on the matter of whether gold prices can long remain out-of-synch with mining shares. Evidently, they cannot. The graph tells us that stocks have a way of catching up, regardless of whether ingots are rising or falling in value. Assuming that bullion is in the early stages of a long and spectacular bull market, we would predict that a few powerful rallies lie ahead for gold shares, especially once the price of an ounce of gold has soared beyond the easy reach of the little guy.

[peter.wedemeier1]

GOLD is in a Primary Bull Market

Richard Russell
Dow Theory Letters
23 January, 2003

GOLD IS IN A PRIMARY BULL MARKET


http://www.321gold.com/editorials/russell/russell012303.html

[peter.wedemeier1]

Chapman article/THE GOLD STANDARD
"We believe there are three possible reasons that the US Government may return to a gold exchange standard. We believe the elitists were the shadow purchasers of the gold sold by central banks at their direction, the Malaysian Gold Dinar, which will be actively trading by June and an Islamic Arab Dinar to follow. This will force western governments to again back their currencies with gold. We also believe the euro to be a mitigating factor with its 15% gold backing. As gold prices rise so will the value of the gold backing the euro, thus the percentage of gold backing will rise. There is no question that Islamic countries are putting financial pressure on the US, UK and Germany. The Muslims believe they can destroy capitalism by forcing gold to the forefront and we agree that this could and probably will be successful. We then also have other mitigating events such as new gold exchanges in Dakar and China as well as rampant anti-American sentiment forcing the gold backing issue. Now we can better understand Sir Alan Greenspan`s comments regarding "monetary policy, unleashed from the constraint of domestic gold convertibility, has allowed a persistent over issuance of money." He realizes that the US will have to return to a gold exchange standard to compete with other currencies. We would not expect a US or Fed move in this direction until gold traded higher than $1,500 an ounce."

[peter.wedemeier1]

Portugal 15 Tonne Sale

"in late 2002, is indeed a smoking gun! Checking around with some of my gold sources, multi-year veterans in trade and knowledge, the BOP (Bank of Portugal) sale is an option call-away. It did NOT take place at the COMEX and therefore it is NOT part of the weekly Futures & Options Gold data. It took place in the OTC forum where two or more principals make agreements that are essentially non-reportable. The gold OTC is almost like back-room gentlemen’s agreements, but the sum of the transactions is reputed to be larger, much larger, than the COMEX. The OTC is the mysterious place where CBs do their gold dealings. But because the BOP is one of the 15 signatories of the Washington Agreement where the CBs have agreed to limit yearly sales to 400 tonnes, it was obligated to report the sale. The Swiss through SNB had to adjust its pre-announced sales for 2002 back by 15 tonnes in the 4th Qtr so that the sum of the CB gold sales did not exceed 400 tonnes for the year 2002. When the WGC Excel data is released for Nov & Dec 2002, this transaction will have been inputed. It will be interesting to note on how it is documented.

So the big question is what other option related CB deals are out there and about to be triggered as the POG rises pass 360 now. Disbelieved that POG could ever be this high, 5 yrs ago, the CBs reputedly fabricated option deals in the OTC to raise money to pay for the gold storage, much like selling equity call options. In addition all the leased gold deals to the IBs are made in the OTC. Nobody knows the tonnage sum total of these deals, not even the CBs. While each CB knows their own total, they do not know the others. The best total available is the 2,119 tonnes of LEASED gold reported by the WGC for the Sept 1999 signing of the WAG by the 15 European signatories.

From the WGC web site the following statement, referring to the Sept 1999 signing of the WAG, begins to take on ominous meaning “At the same time, with increasing demand for borrowed gold, a number of central banks were increasing their use of lending, swaps and other gold derivative instruments. Since, due to the workings of the gold derivatives market, an increase in gold lending normally results in additional gold being sold, this growth in lending was adding to the amount of gold supplied to the market.”

We now have OTC as the 3rd category of leased & gold sold Short. In summary as of now the picture looks as follows:

(1) COMEX COT Futures & Options Net Short 351 tonnes, total Short 593 tonnes as of Jan 14 2003.

(2) Hedge Miners Net Short forward sold 3000 tonnes (adjusted) as of Dec31 2002

(3) OTC Net Short Options Sold or leased. Estimates from 2,119 (WGC) to 15,000 tonnes (GATA)

For the OTC (3) the total picture and/or split are unknown between Options Sold and leased gold. There are those that would argue, with very good reasoning, that much of the leased gold would never be able to be returned because of ensuing bankruptcies of the borrowers as the POG skyrockets. Nobody knows at this point but we are all soon going to find out.

For the record, as of Nov 2002, the WGC lists, that the accounted-for gold of all countries plus institutions (IMF, ECB, BIS) have a total of 32,345 tonnes. The countries CBs hold 28,933 tonnes and the institutions 4,181 tonnes; the ECB total of 767 tonnes is in the total for both country and institution. The Washington Agreement on Gold (WAG) 15 country Signatory CBs holds 14,789 tonnes or approx half of the world countries. Other countries & institutions such as USA, Japan, Australia, South Africa, IMF & BIS, which are not part of the WAG, have agreed to bide by it, so then the total covered by restricted sales rises to 85% of 32,345 = 27,493 tonnes.

Just where are these 32,345 tonnes, in deep storage or gone forever, is the uktimate question? And now we all know that “ Lending, Swaps and other Gold Derivative Instruments” is very real. Therein lies the Smoking Gun transactions in the forum known as OTC. Publicly unrecorded and unknown until they surface."

http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

[peter.wedemeier1]

"The International Forcaster"
Gold closed up for the seventh week in a row, a truly phenomenal performance. Anyone who doesn`t recognize that gold is in a bull market is just plain stupid. The gold manipulation cartel are buyers probably for themselves. Then there are the producers who are hedged, speculators who are short, banks and central banks that are short and the mega shorts in the gold shares that really haven`t moved yet. As we told you at the beginning of the year gold will be $500 an ounce by the end of February and $840 an ounce by June or December. There is somewhere between 15,000 and 29,000 tons either short or sold and we are about to see a demolition derby that will last for at least two years.

[peter.wedemeier1]

Maybe we`re just starting to see what`s coming?

Gold equities poised to climb

And based on gold equities` historic leverage to the price of gold, "we might expect HUI and the XAU to at least double in value from current levels," Vronsky said, pointing out that the HUI and XAU could rise to 286 and 150, respectively this year.

Salomon Smith Barney analyst John Hill also believes gold equities have under-performed, but "it`s just a matter of time."

In a research note, Hill blamed the divergence between the performance of physical gold and equities on several factors, including lack of conviction that the gold rally is sustainable and operating challenges and hedging issues among industry majors.

But "given the `anticipatory` nature of gold equity valuation, we believe it will take time for the shares to discount prices above $340 per ounce," he said.

[peter.wedemeier1]

"The OTC CB qty could be considerably higher, up to 15,000t (GATA), due to possible Call Options at risk as well as other derivative instruments, such as for the recent BOP 15t call-away, which have not been declared to the WGC or any other panel of documented records. Soon on the horizon will be POG +$400 with expected 24 hrs +$10 jumps."

Tech


"SORRY TO HAVE TO CORRECT YOU AGAIN BUT... THE
15,000 SHORT POSITION IS AT THE LOW END OF CONSERVATIVE ESTIMATES FROM GATA AND MANY MANY
OTHER CREDIBLE SOURCES. THE GOLD SHORT POSITION CAN EASILY BE AS HIGH AS 29,000 TONS.(THE CB`S HAVE NO GOLD)
IN SHORT... WORLD CB`S AND THE WGC HAVE NOT ONLY
DISTORTED TRUE CB RESERVES... THE WGC HAS FLAT
OUT LIED WHEN ACCOUNTING FOR AVALIABLE ABOVE
GROUND INVENTORIES AND THEY DID IT WITH THE
ENCOURAGEMENT OF THE US FED."

http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

"USD at 99.90, a multi-year low with the Euro at +1.07 and POG +363. The anticipated 20% fall to 80 will be much quicker now that the 100 level has been broken. At USD =80, projected POG will be (100/80) = 454. The USA current account deficit (CAD) of $500 bil/yr is 5.6% of the US$ 9 trillion GDP. The USD must continue its drop so that CAD is 5% or less of GDP. For the USA to reduce its CAD, it must (1) restore its manufacturing base, (2) develop new major energy sources from ocean methane hydrates as well as increase Alaska oil, and (3) curtail consumer spending of foreign goods.

While there is a certain amount of war premium in the POG 363, the main thrust is that the physical gold is undergoing increased reduced availability for those traders being forced to cover their net short positions. The net short positions has reached historic highs relative to new production which is expected to be only 2260 tpy for 2003 assuming no mine disruptions. Total approx accountable sold net Shorts are calculated at minimum of +5500 tonnes comprised of (1) 350t Commercial IBs (2) 3000t PM producer hedges and (3) OTC 2200t CB derivative leased forward. The OTC CB qty could be considerably higher, up to 15,000t (GATA), due to possible Call Options at risk as well as other derivative instruments, such as for the recent BOP 15t call-away, which have not been declared to the WGC or any other panel of documented records. Soon on the horizon will be POG +$400 with expected 24 hrs +$10 jumps."

Tech
http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

SEC going after short sellers

"With any luck, the SEC will take a good hard look at the manipulations employed by MDG shorts and Tim Wood of Mining Web.

They have my formal complaint, let`s see them go after these guys with all guns blazing."

---------------------------------------------

Dow Jones Business News
SEC Charges Brokerage Firm With Short-Sale Violations
Wednesday January 22, 3:35 pm ET
By Judith Burns, Of DOW JONES NEWSWIRES

WASHINGTON (Dow Jones)--The Securities and Exchange Commission began proceedings Wednesday against a New York brokerage firm executive and two traders, claiming they violated short-sale rules.

Michael Picozzi III, president of Andover Brokerage LLC, based in Montebello, N.Y., and traders Elias Schechter and David Daily, both of Boca Raton, Fla., were named in the SEC administrative proceeding.

Schechter and Daily violated short-selling rules for more than 200 transactions in stocks listed on the New York Stock Exchange over six months in 1998, according to the SEC.

Shares of Polaroid Corp. and Cummins Inc. (NYSE:CUM - News) were among the trades made in violation of the short-sale rule, the SEC alleged.

Short selling refers to the practice of borrowing stocks in hopes of replacing them with shares bought later at a lower price. Short sellers profit from declining prices.

To prevent short-selling abuses, SEC rules permit short sales only when the last-reported price of a stock is higher than the previous price.

In its proceeding against Andover, the SEC claimed the brokerage firm and its traders willfully broke the rule by incorrectly identifying short sales as purchases. It faulted Picozzi, 35, saying he failed to provide reasonable supervision of Schechter, 47, and Daily, 35.

A hearing on the SEC`s allegations will be scheduled shortly.

If the SEC prevails, Andover`s president and the two traders could be forced to return any profits from the trades, plus penalties, and face being suspended or barred from the brokerage industry.

Andover specializes in day trading and operates about three dozen offices across the U.S. for its members and customers.

The SEC`s proceeding dates back to 1998, when day trading was in full swing. At the time, both Schechter and Daily were Andover members.

Daily`s attorney, Jack Stein, declined to comment on the SEC`s action.

Attorneys for Schechter, Andover and Picozzi didn`t immediately return phone calls seeking comment.

http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

GATA SAYS GOLD FAIR VALUE = $785

[peter.wedemeier1]

SINCLAIR/US TREASURIES WILL CRASH
As a result of a new decline in the dollar below the psychological low of 100 as measured by the USDX index, non-US holders of US Government Securities will begin to reduce their purchases. The shift in momentum of purchasing reverses the previous up trend in this market, which will result in a surprise, increase in interest rates in the environment of weak business conditions internationally. This results in a further drop in general equities from any recovery level or from the present levels, as we have always seen that declining US equity prices are accompanied by further declines in the US Dollar. Therefore a further drop in the US Dollar occurs. And therefore, the down spiral marches on and on. This economic spiral will continue to push gold higher and the dollar lower. Each time it impacts upon itself, the factors in the Down Economic Spiral further impact the holders of US Treasury instrument, producing the 5th Element of a Long-Term Bull Market in Gold by creating the most unexpected Long-Term Bear Market in US Treasury instruments due cyclically and fundamentally, as explained above, to occur. Historically US interest rates are not made by the Federal Reserve. Rather, US interest rates are a product of the market level of US Treasury instruments. That is a key concept to keep in mind.

[peter.wedemeier1]

GOLD = A 15,000 TONNE SHORT BUBBLE

[peter.wedemeier1]

MDG has tremendous upside left
http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

I`ll try again...............www.fromthewilderness.com/free/ww3/012403_invasion.html..................................."January 24, 2003, 1930 PST (FTW) - Serious international developments are indicating that the first stages of the U.S. invasion of Iraq will begin unilaterally no later than next Wednesday and most likely as the President delivers his State of the Union address to Congress on Tuesday night.

The Associated Press reported today, in a story little noticed by mainstream American press, that the Japanese government had today urged all Japanese citizens to leave Iraq as soon as possible. Japan has large numbers of its nationals working in Iraq in various trade and oil-related business ventures. According to a second report today on CNN Headline News the Japanese advisory was specific that all Japanese citizens should be out of the country by next Wednesday at the latest.

The Japanese alert was followed by a simultaneous advisory from the U.S. State Department issuing a worldwide alert to all Americans traveling overseas. According to another AP story, State Department officials tried to downplay the significance of the warning, "but officials were unable to say when the last such advisory had been issued." A worldwide alert for U.S. citizens is extremely rare and suggests that the administration is concerned about a global backlash against Americans traveling overseas. Cautionary advisories are normally isolated to specific countries or geographic regions."

http://messages.yahoo.com/bbs?.mm=FN&action=m&board=16004732…

The Case for Gold
George Walker Bush
[e-mail]
January 25, 2002

IMMEDIATE ATTENTION NEEDED :
HIGHLY CONFIDENTIAL
*********************************************************************
FROM: GEORGE WALKER BUSH
202.456.1414 / 202.456.1111
FAX: [phone]
*********************************************************************
DEAR SIR / MADAM,

http://www.321gold.com/editorials/bush/bush012503.html

FTW URGENT BULLETIN

U.S. - IRAQ INVASION LIKELY TO BEGIN WITH STATE of the UNION, Tuesday

by
Michael C. Ruppert

January 24, 2003, 1930 PST (FTW)
http://www.fromthewilderness.com/free/ww3/012403_invasion.ht…

[peter.wedemeier1]

news.goldseek.com >> Story E-mail Page
Timing the big one: Newmont and the XAU
By: Clive Maund, Diploma Technical Analysis

I have noticed a certain amount of consternation and frustration amongst gold stock investors over the past couple of weeks, arising from the fact that, while gold continues to climb, many gold stocks have languished. So I thought I’d rummage through a load of long-term charts in an effort to see what’s going on. This turned out to be very worthwhile, as I have been able to determine major trigger points in both the XAU index chart and the chart for Newmont Mining, which should signal the start of a broad, across the board, massive rise in gold and silver stocks.

Some readers may have been to major horse racing events, such as the Grand National at Aintree, Liverpool, in England, and had occasion to observe the way the horses behave before they come under “starter’s orders” before a race starts - they are excited, restless and meander about in all directions. Then suddenly they come together, point in the same direction, and they’re off, speeding down the field in the same direction, some straggling a bit, but all headed the same way with some fallers at the first. I believe the current situation in gold stocks can be compared to the horses before they go into the gates. Do we have a means of telling when the gold and silver stocks are coming together and are about to “go for it”? I believe we do.

Let’s take a look now at a very long-term chart for the XAU index going way back to about 1984, see above. I think you’ll agree with me that this is a fairly awful looking chart, but before you reach for the anti-depressants, I ask you to bear this is in mind. This index includes a heavy dose of great, lumpen, hedged gold stocks and trampled down silver stocks. Even so, the picture this chart presents is, on closer inspection, actually very encouraging. The action of this index since late ‘97 is, on the surface, a jumbled mess, with a tentative rise over the past two years. However, on closer scrutiny, it becomes clear that the index has been marking out a massive “Head-and-Shoulders” reversal pattern since 1997. Not only is this a very bullish reversal formation with major long-term implications, but it has the added advantage that we can use it to pinpoint fairly exactly, in value terms if not in time, the point of takeoff for gold and silver stocks as a whole. Looking again at the chart, we can see that this point is about 93 on the XAU, the point at which the index can be considered to have broken out of the huge head-and-shoulders base area. I am not saying that all, or even most gold stocks are going to wait for this to happen before they go up, Glamis Gold, Randgold and Royal Gold, for example, are forging ahead without waiting for the permission of this index. Durban Deep looks close to a major move. What I am saying is that when this index does break out we can expect to see a broad, across the board advance, which will include the HUI index and most of its constituents and the juniors. Once the index does break out above about 93, we can expect a significant, perhaps very rapid advance, up to about 150, where resistance will be encountered. Consolidation is likely there before the highs are taken out – remember this gold bull market is going to make the one in the 70’s look a Sunday afternoon picnic. The timing of this breakout is rather indeterminate on this chart, as it is not clear how long the right shoulder of this formation will take to complete, but it is, nevertheless, very useful to know the level.
With regard to timing, the chart for Newmont Mining, is helpful. Look now at the 10-year chart for Newmont shown above, where we see a giant head-and-shoulders reversal, roughly paralleling that in the XAU index, approaching completion. This chart is very close to a breakout suggesting that the XAU is likely to break out on the upside sooner rather than later. Volume in Newmont throughout 2002 and into this year suggests to me that something very big is building in this stock, and the heavy volume of the past couple of weeks indicates the probability of an imminent breakout.

Richard Russell has repeatedly made the point in recent weeks that the people who are going to make the big money in this market will be the people who buy on dips and then hold and add to positions on later dips. The danger of trading in and out of this market as we go into the dynamic advancing stage is of being suddenly left behind, because when it really decides to get moving it is going to be big – VERY BIG!!

XAU closed at 82.20 on 24 January 2003
NEM closed at $30.15 on 24 January 2003

By Clive Maund,

Kaufbeuren, Germany, 26th January 2003

[peter.wedemeier1]

CHAPMAN`S GOLD POTPOURRI
http://www.gold-eagle.com/gold_digest_03/chapman012703.html

[peter.wedemeier1]

LATEST ADVICE FROM SINCLAIR
Recommendation to the Gold share investment community:

1/ Do not let these hedgers spook you out of your shares now. They certainly are trying as of this evening`s close. Look at the fight on RGLD as it tries to make new highs today. Who do they think they are kidding? Not an old pro like me.
2/ Get ready for gold shares to improve in their performance quite soon.
3/ All of you who have fully paid for your shares take delivery immediately and do not take no for an answer. Most web based brokers have never had a client ask for delivery of their securities and some have actually said they are uncertain of the mechanism.
4/ All of you that are on margin long gold shares, shame on you. But after saying that, the instant you make a sale and as a result eliminate your debit, order delivery of your shares and do not take no for an answer.
5/ Go to www.tanrange.com and register. I will email you the best guidance I can. Please remember that I am a seasoned trader and major market risk taker but not a seer.

[peter.wedemeier1]

Sinclair- 8pm EST 27 January
New email from the Gold Pope (Sinclair). He claims Hedge Funds are long Gold Futures and massively short miners that are over 100K oz/yr.in size...(AEM/HMY come to mine, my thought)

When war starts he says they(Hedgers) will sell into war breakout and then try to cover their Miner short positions

Sinclair says this will NOT work. Hedgers are not fully appreciating the tenacity of longs in Gold (among other reasons).

Sinclair predicts:

381-386...Miners will strengthen
390`s....Miners begin to outperform the Bullion
400+....Miners will go ballistic as Hedgers panic trying to cover.

It is a long two page email, but essentially that what Sinclair says is happening.

My comment is: We have a virtual Greek chorus of hand wringing nervous nellies here that should be in BOA CD`s and they are totally a pain, on this board and others.

We are fortunate having a generous expert like Sinclair with a track record so accurate (espec 2002/2004) that is almost laughable. The guy is a Billionaire 70 yr old Gold trader, with a worldwide reputation as the best in the business. Why in all hell read all these nitwits that clog up the message boards with daily five miles of inexperienced babble everyday over every .10 cent move ??

Read Sinclairs latest, tonight, at 8:15 pm EST and forget all these amateur Aunt Minnies
http://messages.yahoo.com/bbs?.mm=FN&action=m&board=16006407…

[peter.wedemeier1]

Gold price will rise for 1-2 years
On CNBC`s most recent Louis Rukeyser Show, special guest Douglas R. Cliggott currently CEO and Chief Strategist for Brummer & Partners and formally of Morgan/Chase, made some very interesting comments about gold. In his view gold has at least another 12 months and possible 24 months of continued appreciation ahead and that the appreciation might be dramatic. Gold will continue to rise until the federal funds rate is no longer below the inflation rate. He said that the Fed wouldn`t start to raise rates this year and guesses that the Fed will actually do one additional lowering of rates sometime later this year. He feels that the S&P 500 has an additional 25% to fall to be fair valued and only then will the general market decline be over. That could be another one to two years in his opinion. Louis Rukeyser said that Doug`s comments had been surprisingly accurate over the past several years.
http://messages.yahoo.com/bbs?.mm=FN&action=m&board=16011511…

[peter.wedemeier1]

CHAPMAN ON MANIPULATION
posted by: reg2855 01/27/03 03:12 pm
Msg: 27149 of 27152

This a quote from the /1/25/03 issue of Robert Chapman`s "The International Forecastor": The gold manipulation cartel is at it again, the suppression of gold shares. The short position on Durban Deep is nine million shares or 20% of the stock`s float.Over all senior gold producers shares have shorts of over 70 million shares. This isn`t normal. What`s going here? We know what`s going on. These stocks are being suppressed to make the investing public think that gold`s rise is a temporary affair and and the stocks won`t react any further. The cartel wants them suppressed so that the public won`t think anything is wrong with the economy, especially now that they have lost control of the gold bullion market. The stocks most heavily shorted are Kinross 4.1% of outstanding shares,Agnico-Eagle 8.6%, Newmont 4%, Goldcorp 2.7%, Meridian 2.6%, and Durban 3.5%. You have to remember this is against outstanding shares. What are the percentages of the float less the shares that have been delivered out? They would bring an entirely different picture because gold share buyers are usually long-term investors and much more than usual take delivery of shares. We are digging for additional figures and will keep you informed."

http://messages.yahoo.com/bbs?.mm=FN&action=m&board=13990304…

[peter.wedemeier1]

[peter.wedemeier1]

SEC launches shorts investigation
Dow Jones Business News
SEC Charges Brokerage Firm With Short-Sale Violations

WASHINGTON (Dow Jones)--The Securities and Exchange Commission began proceedings Wednesday against a New York brokerage firm executive and two traders, claiming they violated short-sale rules.
Michael Picozzi III, president of Andover Brokerage LLC, based in Montebello, N.Y., and traders Elias Schechter and David Daily, both of Boca Raton, Fla., were named in the SEC administrative proceeding.
Schechter and Daily violated short-selling rules for more than 200 transactions in stocks listed on the New York Stock Exchange over six months in 1998, according to the SEC.
Shares of Polaroid Corp. and Cummins Inc. (NYSE:CUM - News) were among the trades made in violation of the short-sale rule, the SEC alleged.
Short selling refers to the practice of borrowing stocks in hopes of replacing them with shares bought later at a lower price. Short sellers profit from declining prices.
To prevent short-selling abuses, SEC rules permit short sales only when the last-reported price of a stock is higher than the previous price.
In its proceeding against Andover, the SEC claimed the brokerage firm and its traders willfully broke the rule by incorrectly identifying short sales as purchases. It faulted Picozzi, 35, saying he failed to provide reasonable supervision of Schechter, 47, and Daily, 35.
A hearing on the SEC`s allegations will be scheduled shortly.
If the SEC prevails, Andover`s president and the two traders could be forced to return any profits from the trades, plus penalties, and face being suspended or barred from the brokerage industry.
Andover specializes in day trading and operates about three dozen offices across the U.S. for its members and customers.
The SEC`s proceeding dates back to 1998, when day trading was in full swing. At the time, both Schechter and Daily were Andover members.
Daily`s attorney, Jack Stein, declined to comment on the SEC`s action.
Attorneys for Schechter, Andover and Picozzi didn`t immediately return phone calls seeking comment.

[peter.wedemeier1]

Top Stories
Stocks tumble as UN`s Blix talks tough about Iraq
Mon 12:32pm ET - CBS MarketWatch
Stocks tumbled by early afternoon trade Monday after the chief United Nations weapons inspector said that Iraq hadn`t given up its drive to develop weapons of mass destruction but urged that inspections be given more time.

[peter.wedemeier1]

GATA "substantiates" 15,000ton short
"Word is the Portuguese central bank sale was the result of an options structure arranged in tranches over 1997 and 1998 (a collar). This is exactly what MIDAS reported over the past years and may only be the tip of the iceberg. Central banks wrote calls above the market and gold is being called away from them.

"I doubt this gold will ever see the physical market because of the massive 15,000 tonne gold short position. There is a scramble out there to get hold of physical gold to honor prior commitments. The Portuguese have found that out.

"The big news, as far as GATA is concerned, is the revelation that 70% of the Portuguese gold is gone. How many other central banks are in the same predicament? The Portuguese gold loans/swaps are not in the gold loan numbers of the World Gold Council and GFMS. Their gold loan numbers are only 4600/ 5,000 tonnes. The GATA/Howe/Veneroso numbers are more than three times the official gold industry numbers.

[peter.wedemeier1]

Reuters
UPDATE - Barrick CEO says hedging program misunderstood
Wednesday January 22, 5:28 pm ET
By Lesley Wroughton


(Updated throughout. Figures in U. S. dollars unless noted)
TORONTO, Jan 22 (Reuters) -
http://biz.yahoo.com/rc/030122/minerals_barrick_3.html

[peter.wedemeier1]

Tue 1:08pm ET - Reuters
World oil prices bounced back on Tuesday after Iraq said it could retaliate against crude producing neighbor Kuwait if the United States launches an attack from Kuwaiti territory.

[peter.wedemeier1]

LATEST ADVICE FROM SINCLAIR
"3/ All of you who have fully paid for your shares take delivery immediately and do not take no for an answer. Most web based brokers have never had a client ask for delivery of their securities and some have actually said they are uncertain of the mechanism"

[peter.wedemeier1]

UBS Warburg
From their daily precious metals update:

"China`s Central Bank, seen intervening recently in Shanghai`s gold exhange to curb sky-high prices, is expected to allow trade to return to normal after the Lunar New Year holiday next month, traders said on Tuesday. Domestic gold prices rose to such dizzying heights that the central People`s Bank of China sold some of its precious metal to cool prices which had risen above world levels due to a demand spike before the important annual holiday, they said (Reuters). We expect that the Shanghai gold exchange will continue to require official intervention to keep prices in line with the OTC market until imports and exports of gold by domestic banks starts later this year."

[peter.wedemeier1]

delivery of shares defeats shorts
By
James Sinclair, CEO Tan Range
[e-mail]


Why sit back and be taken advantage of? Why let the wise guys who have fought the up move in gold from their derivative trading desks also damage your gold share position without doing something to help yourself. This gold community should stop taking the hits and stop walking away unhappy. The short positions that exist in almost every gold share, in sizes of shares sold short, are beyond reason. In some companies, the short is so big that I firmly believe the entire float has been shorted. I have explained this phenomenon to you. It has robbed you of a proper valuation of your shares in light of the strong, and soon to be stronger, gold price. Gold is going over $400 - do you want to see your gold shares languish? Well, if you do nothing and let yourself be taken advantage of, then you do not deserve anything better.

My suggestion to you is get moving and nail the culprits that are picking your pockets. There is something that you can do that is as effective as RAID on a BUG, but you have to do it now:

Take Physical Delivery of Your Share Certificates Immediately!


This is not because I fear any financial problems with your brokers but rather it is because taking delivery of your shares will stop the short selling and increase the risk significantly to the present outrageous short positions that have accumulated in your gold shares. It is the lending of your shares that has allowed the legal shorts to exist. Therefore, you have allowed these wise guys to sell the shares short to the degree that they have hung themselves, if you will only act. I would even suggest that those on margin sell something else to pay off your margin debt and take delivery.

[peter.wedemeier1]

KITCO "THE SMART MONEY"
The Smart Money, which is a class of investors who understand the monetary condition we now find ourselves in. They understand the oncoming deflationary forces that will be unleashed upon the financial system because of the implosion of credit. They also understand the supply/demand imbalances that exist for both silver and gold that have resulted from central bank selling, hedging, and short-selling. They know that supply imbalances can’t last forever and that eventually prices will explode due to artificial price restraints that have kept gold from rising. Those restraints are being removed day by day as the rest of the world is getting rid of its paper, especially US dollars. In Japan, after more than a decade of deflation as a result of the huge Japanese monetary bubble of the 80’s, Japanese investors are getting out of paper and buying gold. Gold buying is increasing around the globe, in Europe, the Middle East and especially in Asia.

[peter.wedemeier1]

Understanding the Ratio Spread
Q & A Response

http://www.financialsense.com/metals/sinclair/headsup/2003/0…

[peter.wedemeier1]

Short squeeze
The strategy is definitely effective. If a stock has a sell order on it, then it can not be loaned out for shorting. Otherwise, the brokerage would have to buy the stock on the open market if it loans out shares it did not have.

[peter.wedemeier1]

KITCO
"Hold your position and don’t panic when shares prices correct. Instead, use those times to add to positions, especially when short positions build. There is a huge supply deficit that is going to have to be filled. The majors have stopped exploring for gold and the only way they are going to replace their reserves is through acquisitions. Your liquidity will come through a buyout. Think like Warren Buffett. Buy a good company at a good price, then have the good sense to hold on until your beliefs are recognized by the investment public or a major or second-tiered gold producer who will be looking out for smart acquisitions."

[peter.wedemeier1]

[peter.wedemeier1]

Shorts are going to suffer significantly.

The word is spreading to every board. Transfer your gold shares to a cash only account or pay off your margin. Your stock, then can not be sold short. This will reduce available shares to short as they continue to increase the short sales to suppress the price of MDG.

[peter.wedemeier1]

Put the squeeze on Shorts.

The short anwser is Put Your Stock in A Cash Only Account or pay off your margin. Only margined accounts can be loaned out by your Broker. These boys did a lot of research to obtain the final solution.

What do shorts do when they can not dilute stock value as the shorting opportunities dissapate, and guess what will happen to your stock value.

[peter.wedemeier1]

GOLD IS A CURRENCY
THE 15,000 TONNE GOLD SHORT CAN NOT BE COVERED
(VERY DANGEROUS FOR PAPER CURRENCIES)

[peter.wedemeier1]

DOUBLE DIP RECESSION

News
Expansion Slowed Sharply as 2002 Ended
Thu 9:43am ET - Reuters
U.S. economic growth braked sharply in the final quarter of 2002 as worried consumers reined in spending and businesses kept inventories in check, the Commerce Department said on Thursday in a report likely to fan concerns about a tepid recovery.

[peter.wedemeier1]

From TheStreet.com:

J.P. MORGAN DIVIDEND COULD FEEL PRESSURE

By Matthew Goldstein
Senior Writer
01/31/2003 05:18 PM EST
Click here for more stories by Matthew Goldstein

Updated from 4:45 p.m. EST

Talk is growing on Wall Street that the first quarter may be shaping up as another ugly one for J.P. Morgan Chase , which is still struggling to prove to investors that its 2-year-old merger can work.

If the rumblings prove accurate, industry observers say William Harrison`s days as chief executive of the nation`s second-largest lender could be numbered -- especially since he was the mastermind behind the mega-deal.

The speculation, which comes from several mutual fund managers, hedge fund managers and analysts, is that the bank may once again be forced to boost its reserves for higher commercial loan losses and trading losses , including some on its gold trading desk .

[peter.wedemeier1]

John Embry and his take on GOLD !!!
9:49p ET Thursday, January 30, 2003

Dear Friend of GATA and Gold:

The most successful mutual fund manager in the world, John Embry, vice president of equities for RBC Global Investment Management and manager of Royal Bank of Canada`s precious metals fund, sounded exactly like GATA Chairman Bill Murphy in a long interview on national television in Canada this week.

Embry was interviewed on ROB-TV`s "Market Call" program, and made these comments:

-- Gold Fields Mineral Service is an agent of the bullion banks, and he doesn`t believe half of what they say.

-- The central banks` gold short position is certainly at least 10,000 tonnes, and GATA`s assertion of 15,000 tonnes is defensible. The recent disclosure of the loss of gold by Portugal`s central bank was very significant.

-- GATA has done "outstanding research" in exposing the gold short position of the central banks, and the people of GATA are "not lunatics" but "smart, diligent guys." (We happily would have settled for "not ALL lunatics.")

[now potty, pay attention here]
-- By virtue of its derivative position in gold, J.P. Morgan Chase has been at the center of a manipulation of the gold price, though Embry added that he wasn`t sure of Barrick Gold`s role in that manipulation. Barrick, Embry said, might have been doing no more than aggressively hedging its product.

-- The gold price also has been manipulated by the U.S. government. This manipulation doesn`t bother Embry so much in principle, since he considers gold more of a currency than a commodity and currencies are commonly manipulated by governments. But in suppressing the gold price for so long, the U.S. government allowed speculators to pile on and "created a monster," driving the gold price down below the cost of production and giving the gold price an explosive potential few people realize.

-- Gold should easily rise above $400 per ounce, given the "toxic derivatives" around it.

-- Embry also expects an explosion in the price of silver.

-- The junior gold producers are most promising for price appreciation, the hedged major producers least promising.

Working from these premises, Embry`s fund gained 153 percent in value in 2002 -- the best performance of any fund last year.

If you find it hard to believe this wholehearted endorsement of GATA from the best fund manager in the world, you can watch and listen to it yourself. Just go to the ROB-TV Internet site here:

http://www.robtv.com/servlet/HTMLTemplate/!

[peter.wedemeier1]

From 2001 Annual Report...
During 2001, upon the removal of the Company`s long-term credit facility with the Standard Bank syndicate, the Company was relieved of its requirement to maintain its gold forward hedge program. The Company closed its long-term gold forward contracts as of June 30, 2001. The termination of these gold forward contracts generated $4.9 million in cash. This sale has been booked as deferred revenue and will be reflected in income according to contract expiration dates, as follows:

Year..........Deferred Revenue Impact
2002..........$1,943,363
2003............1,916,130
2004..........................0

In March of 2001, the Company`s closed its gold hedging obligation for 2004 under the Standard Bank loan. A total of 93,770 ounces of gold were closed generating $1.2 million of deferred revenue, which will be recognized upon expiration of these contracts.

[peter.wedemeier1]

February 24, 2003
4:00 p.m. ET, following close of market
Fourth Quarter Earnings Results to be released

http://www.meridiangold.com/

[peter.wedemeier1]

Great Dec02 Qtr & Super Mar03 Qtr
"It doesn’t get any better. MDG Dec02 Qtr at net US$ 12.5 mil which is US$ 0.13/Sh. Super Mar03 Qtr in the making with POG 357 at least and POS 4.8 will be net US$ 15/16 mil which is US$0.16/Sh. The El Penon mine site continues to surprise to the upside with massive surface vein like chute discoveries coming up from the underground mother lode. The 2000 tpd mine feed is reaching 25% AG and 75% UG and that is why the cash cost was reduced to $92/oz for the Dec02Qtr vs $101/oz for the Sept02 Qtr. With silver on the upward move and about to explode the gold cash cost equivalent will be even less for the Mar03 Qtr. In addition the 328,000 ozs of gold produced in 2002 at El Penon will be replaced by the new discoveries of AG and UG ore. And guess what? The stockpile has been totally refilled and is up to 160,000 tonnes for an 80-day buffer. By mid-2004 Esquel will be in production and MDG will then move from + 400,000 oz/yr gold to +700,000 oz/yr. In 2008, MDG will be at +1.0 mil oz/yr. View the slide presentations on the web site.

In the global situation, POG and POS solid flooring will soon explode above their respective $370 and $4.90 levels. The Commercial IBs have NO metal to cover. Based on Jan 28 COT Options and Futures data their massive net Short positions are 390 tonnes for gold and 11370 tonnes for silver. There are NO stockpiles for sale anywhere in the world. The Asian, Islamic, and OPEC nations are frantically converting their massive US$ holdings into gold and silver.

The Shills that are swarming all the PM message boards want your shares cheaply. They cannot move down the POG or POS and now must buy the PMs to reduce their losses before the volcanoes explode. Strengthen your resolve Longs and buy the dips if you can. This storm too will pass and higher lows will be established."

http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

http://www.gold.org/discover/sci_indu/indust_app/otherintere…

[peter.wedemeier1]

Reuters
Industry Stays Upbeat, Auto Sales Brake
Monday February 3, 4:46 pm ET
By Wayne Cole


NEW YORK (Reuters) -
http://biz.yahoo.com/rb/030203/economy_5.html

[peter.wedemeier1]

Jim Sinclair last night:



Heads Up

When Gold Closes Above $371.50
$400 Will Promptly Be Taken Out On The Upside

First Two Weeks of February Have Super Bullish Potential Implications


Well, you have done it. I hear from my broker friends and off the trading floor that many millions of gold share certificates have been ordered for delivery. It appears as if some of the big investors have had it with the disinformation that has been a tool of the bearish interest. Disinformation because it has been the short sellers and ratio spreaders who have caused the gold shares to under perform. Then the same traders called attention to that manufactured under-performance as proof that gold has had it at $372 due to technical non-confirmation by the gold shares of the gold move. Did you notice all the gold share downgrades done recently on gold shares by the major investment banks that are the owners of cartel by common interest gold banks. Lets see if the under-performance of gold shares case holds over the next few days. I doubt it. It looks to me as if gold and gold shares and silver changed their personality today. I hear there are some very uncomfortable shorts out there. Guess what their only defense is now since they have shorted well over the average daily trading volume of the listed gold shares. They are also shorted gold and silver juniors which I think is total lunacy. Their only defense is to buy gold to offset the short in the shares. When gold closes over $371.50, the shorts in gold shares will be screaming into gold for protection and if they can will be screaming out of their short of gold share and silver share positions.

Gold is headed over $400 now, IMO. I believe that I know exactly where it is going and will post the community individually on my web site registration for emails after thoroughly combing the list for ringers. I will not post the price on my web site. Each member that gets the post should inform those people they know but not post it on the web. I told you I am good but not that good. We are being watched by the opposition and the 1/3 sell point now after we held tight at $324.50 & $330 & $354.50 belongs to us. It is your property in my mind. I want it for you and I am going to everything I can to get it for you. Go to www.tanrange.com and register for the email list which now is my private email list since it is automated registry. There will be no company promotion coming to you. You have my word on that. Soon I will be up on www.JSMineset.com where you will get 24 hour commentary from me since so many of our community are in different parts of the planet. Those that are trading gold may want to have account that can trade gold 24 hours a day as I do. I want to be of service to you all. Your success is my reward. I want this for you more than I want it for me. We have waited 22 years for this. I can get all the sleep I need after gold is remonetized. During the last great gold market, I never slept more than 4 hours a night. I didn`t want to miss anything. This is my life and outside of this and my family, I neither have nor want anything else. I truly love markets and gold is my thing. I will soon post the advertisement for and press comment of the first Gold seminar that was sponsored by Harry Schultz when gold was at $68 per ounce under "War Stories"

[peter.wedemeier1]

JPM CAN NOT COVER COVER GOLD SHORT
TURK:

JPM’s gold derivative exposure of $41 billion of notional value represents 117 million ounces of gold – a number that is nearly 50% greater than all the gold produced worldwide in a year. Thus, it seems likely that the gold market may not be able to provide the liquidity JPM will need to keep its gold derivative position in balance in a period of increased gold price volatility, which is a result that would clearly negate Mr. Harrison’s contention that JPM does not have "any real exposure to gold."

[peter.wedemeier1]

Re: News Release - Tuesday, February 04, 2003
Tan Range Chairman Expresses Confidence in Future With Minimum $1.5
Million Share Purchase Commitment
===========================================================================
James E. Sinclair, Chairman and CEO of Tan Range Exploration, announces
his intention to acquire shares in the Company on a private placement basis
representing a minimum value of $1.5 million and a maximum value of $3
million over the next 24 months.

The shares will be purchased from time to time at the closing market price
for that particular day without warrants or any other consideration.

"This is my way of showing my firm commitment to Tan Range and its
management team who have laid the foundation for a future that is certain
to reward all of its shareholders," said Sinclair.

Tan Range President, Marek Kreczmer, noted that Sinclair`s commitment to
the Company "has remained steadfast since he acquired his share position in
Tan Range last April and his latest investment reflects the high ownership
standards he sets for himself and the members of his management team."

On behalf of the Board of Directors


Marek J. Kreczmer, M.Sc., P.Eng.
President

For further information, please contact Investor Relations at
1-800-811-3855
Visit the Tan Range website: http://www.tanrange.com

The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release

[peter.wedemeier1]

TURK:

JPM’s gold derivative exposure of $41 billion of notional value represents 117 million ounces of gold – a number that is nearly 50% greater than all the gold produced worldwide in a year. Thus, it seems likely that the gold market may not be able to provide the liquidity JPM will need to keep its gold derivative position in balance in a period of increased gold price volatility, which is a result that would clearly negate Mr. Harrison’s contention that JPM does not have "any real exposure to gold."

[peter.wedemeier1]

Wed Feb 5, 2003
Exchange Stabilization Fund (EFS) Runs Gold Community Enraged One More time? When will you just say - NO? Plus answers to questions on Silver.
Author: James Sinclair



It was crystal clear that the rally in the dollar during the Powell presentation at the UN was artificially induced by the Exchange Stabilization Fund, as was the intra-US-night top in the gold market at $390.

Have you ever wondered what would happen if the Community just said "NO?" If you stared down this ESF intervention manipulative nonsense as I do and, in fact, sold them their last US dollar, or took both sides of their gold play today to your advantage. I have.

Why are you allowing yourselves to be toyed with by such obvious ESF intervention moves? Powell almost convinced Saddam Hussein to invade himself as his presentation was so clear and he is respected as the dove amongst hawks. It even took the talking heads a few minutes to figure out how to explain a stock market rally and dollar rally. They announced the stock market and dollar rally as the product of Powell`s presentation to the UN because it "took away uncertainty." Now that has to get the award for spin city speak because in English it means; "Now we are certain the US is going to Iraq, therefore, it is fine to buy equities and the dollar." Huh?

I have pointed out to you what they look like when they play and how to play them. Gold is going over $400 and looking back from the other side. Until gold is over $400, it is my opinion that using TA and buying the dips is as safe as gold can ever be. Selling any rise over $10 in one day is simply good sense.

Conclusion: Gold is going over $400 on this leg of the long-term gold bull market.

[peter.wedemeier1]

AZC is only .23

Found this on their board. Good read.

People can choose to discount the value of AZCO`s property on the Carlin Trend if they wish, or conveniently forget the CEO`s bold statement last year, that "Future gold acquisitions are not only possible but probable".

This Gold bull market will not end until the price of Gold exceeds the price of Platinum: Something that hasn`t happened since 1980, when Gold peaked at $875 oz.

Yesterday, Platinum soared to a new 18 year high of $684, up a stunning $24 on the day, tracing out a parabolic upswing. Overnight, it touched $694, a full $10 higher. Therefore it stands to reason that Gold will likely surpass these levels that Platinum is currently slicing through to the upside and that implies that levels around $700 at least are likely to be reached, all in due time.

The CRB or Commodity Research Bureau Index of Inflation has risen dramatically since October 2001 and Gold has soared along with it. The US Dollar has also weakened substantially against most World currencies and this has helped to fuel Gold`s rise. But, the real power behind Gold`s rise is a hidden one that most analysts have not entirely figured out yet and that is the cumulative inflation factor that has been eating away at not only the "once almighty US Dollar", but also all of the other currencies around the World.

To illustrate this point: 23 years ago, Gold was trading at the same price it is today and yet a 1980 dollar by many measures is arguably 4 or even 5 times the value of today`s dollar. By inference, that means Gold should be trading at multiples of today`s price as high as $1200 ~ $1500 per oz.

In any bull market, value can be identified by situations that for a variety of reasons may not yet have moved or have gone unrecognized by the market for their Gold holdings or values or other attributes that by virtue of their pricing or perceived undervaluedness, may hold that special appeal. Seeking out such situations early, before the rest of the market catches on to each particular theme is probably the best way to play this emerging Gold bull move. From a strategic standpoint, if one can identify outstandingly undervalued situations in mining sectors that are particularly asset rich, then the growing fervor for undervalued issues that have yet to move, will, in all likelihood include your selection.

Research indicates that AZC is the premier selection and is poised to become a major player in the growing Gold Fever.

[peter.wedemeier1]

Reuters
NYMEX upping COMEX gold margins at close Thursday
Thursday February 6, 8:26 am ET


NEW YORK, Feb 6 (Reuters) -

http://biz.yahoo.com/rm/030206/markets_nymex_gold_2.html

[peter.wedemeier1]

Bush to Replace Head of Fannie, Freddie Watchdog

By Daniela Deane
Washington Post Staff Writer
Thursday, February 6, 2003; Page E03

The White House has announced that it will nominate Mark C. Brickell, an expert on financial derivatives, to head the federal agency that oversees Fannie Mae and Freddie Mac, the giants of the secondary mortgage market.

Sources familiar with the situation said Armando Falcon Jr., head of the Office of Federal Housing Enterprise Oversight, was asked by administration officials for his resignation Tuesday morning.

That was just hours before Falcon released the findings of a "systemic risk" study, which laid out a scenario in which Fannie Mae and Freddie Mac could experience severe financial difficulties that then would cause wide-ranging disruptions in the housing and financial markets.

[peter.wedemeier1]

Golden Bull Buy Signals
Adam Hamilton
February 7, 2003
http://www.zealllc.com/2003/goldbuy.htm

[peter.wedemeier1]

Seasonal Repsponse of Gold Stocks

http://www.usfunds.com/slideshow/gold_slide_14.asp

[peter.wedemeier1]

>Esquel cyanide ban to be bypassed - Meridian

By: Tim Wood


Posted: 2003/02/07 Fri 20:41 | © Mineweb 1997-2003


NEW YORK
http://www.mips1.net/MGGold.nsf/Current/4225685F0043D1B28525…

[peter.wedemeier1]

BULLETIN: GOLD MARKET MANIPULATION

By Michael Newton

February 10, 2003

http://www.globalstockalert.com/bb1.htm


GOLD, THE STOCK MARKET AND WAR

By Robert Milan

February 10, 2003

http://www.globalstockalert.com/rm2.htm

[ThaiGuru]

@peter.werdemeier1

Dein geposteter Link in #189 scheint mir so sehr interessant, dass dieser Bericht in Deinem Thread in vollem Umfang gepostet werden sollte.

Gruss

ThaiGuru

****

“Your source for dynamic thoughts and opinions about the investment world”

Michael Newton Editor-in-Chief

BULLETIN: GOLD MARKET MANIPULATION

By Michael Newton

February 10, 2003

Between February 4th and 5th, the gold price declined by nearly $10 per ounce. Some believe that the price was manipulated downward to “spin” the appearance of how international financial markets viewed the success of Colin Powell’s speech to the United Nations.....

I have just completed a dinner with a seasoned Swiss gold trader. He tells me that, as a result of certain trades he handled, he believes that the sell-off in gold, that occurred during and after the Colin Powell speech at the United Nations, was a government instigated sell-off.

He believes that the United States government and the government of Great Britain were aggressive sellers of gold through institutional “fronts.” The purpose for this government manipulation was to provide a false signal to the world that Powell’s speech was not viewed alarmingly in international financial markets.

My trader friend believes that within three days of the start of war with Iraq, if not sooner, the United States and Great Britain will again enter the gold market on the sell side. He is also speculating that they will be entering the equity markets, at such time, on the long side.

He believes any such manipulation of the gold price at the start of the war will be an excellent buying opportunity and that gold at $520 per ounce is a good six to nine month target price.

Copyright 2003 National Internet Properties, Inc. All rights reserved.

[peter.wedemeier1]

@ThaiGuru
Diese These stützt auch die Annahme von velcrokid vom KGC Board:
"FEd selling GOLD futures .USA Tres.
selling GOLD [others gold borrowed from .Canada,Gb,Belguim} into bullion mkts ..TRYING TO HELP STOCKS !!!!!........Unless any of you bulls .......Understand the importance of the undersec of the Tres. "ROBERT ROOSA BONDS" outstanding in France`s,Austria"s and Germany `s hands."

[ThaiGuru]

@peter.werdemeier1

Du nennst die Goldpreismanipulation eine These?

Für mich ist es schon eher eine Tatsache!

Für viele ist es undenkbar, dass der Grünspan und seine FED da die Finger im Spiel haben könnte. Sie glauben an eine normale technische Reaktion beim Goldpreis, und an eine Entspannung im Irak, als Grund für das Nachgeben der Goldpreisnotierungen.

Diejenigen die daran glauben, was die Mainstream Presse, und auch einige "Unwissende" User im WGoldboard ihnen jetzt täglich einpauken möchten, sollen es von mir aus glauben, und wenn sie möchten auch danach handeln. Das ist Ihr gutes Recht.

Mein Recht ist es aber auch nicht daran zu glauben.

Gruss

ThaiGuru

[peter.wedemeier1]

@ThaiGuru

Für mich ist es auch eine Tatsache!
Viele werden sich noch sehr wundern, warum der Goldpreis nach einer gelösten Irak Frage in Richtung vierstelligen Ziffern (minimum $2000 - $5000) weiter ansteigen wird. Und warum der breite Markt DAX, Dow Jones, Nemax und Nasdaq weiter dramatisch fallen werden. Der Dow Jones hat bei mir ein Kursziel von < 4.000, wenn nicht sogar < 3.000 Punkten.
Das liegt an den TV-Spinnern (z. B. n.tv) und den falschen Leuten, die dem Publikum ein Haufen Scheiße Glauben machen wollen, damit diese das für wahr nehmen. Der Anstieg des Goldpreises hat nämlich wenig oder gar nichts mit dem Irak Krieg zu tun. Der Goldpreis ist vorher angestiegen, bevor der Irak Krieg überhaupt so ein breites Thema war.
Für mich bedeuten auch die letzten COT-Zahlen (auch beim Silber) Long und noch mehr long!

Gruß

[peter.wedemeier1]

Goldcorp results, Feb. 11, 2003:

2002 HIGHLIGHTS
(Dollar amounts in millions, except per share data)
-------------------------------------------------------------
Return on Invested Capital (ROIC) 26%
Cash & short-term investments Up 234% $ 260.8
Working capital Up 209% $ 273.6
Shareholders` equity Up 122% $ 349.9
Debt Unchanged NIL
Gold hedges Unchanged NIL
Earnings per share Up 16% $ 0.37
Cumulative Bullion Adjusted Earnings* Up 41% $ 0.45

[peter.wedemeier1]

Mine referendum in Esquel

Esquel Mayor Rafael Williams said he will call a referendum on an open pit gold mine that will use public water and wash ore with cyanide in the mountains near the city.
The mayor thus promulgated one of the three ordinances that were passed by the City Council Thursday under pressure from townspeople opposed to the mining project.
Williams did not accept the ban on transport and industrial use of cyanide within city limits, or the revocation of the ordinance accepting national legislation on mining investment.
The El Desquite mining company, property of the Canadian multinational Meridian Gold, had planned to begin operations at the beginning of the year, but was stopped by demonstrations by residents, farmers and ecologists who fear that their drinking and irrigation water will be siphoned off while the mine is operating, and polluted after its closure. They also fear that an accident or earthquake could unleash the poison on them, as has been the case with similar mining projects in six countries over the past decade.
Esquel construction workers say they will march in favour of the project next week and “stuff the ballot boxes in favour of the mine.”
The mining company plans to invest US$ 120 million to extract 300,000 ounces of gold a year.
The mine is expected to create 400 direct jobs, but the company has refused to sign an accord with the government of Chubut that its workers will be from Esquel or even Chubut.

Heavy rain frustrates picket day

Hard-line picket factions forfeited to heavy rains that hit the Buenos Aires city area yesterday morning and scaled back a scheduled protest in demand of more unemployment subsidies and “real jobs.”
The government of Eduardo Duhalde, meanwhile, said that the groups of unemployed people do not need to block roads in order to be received in Government House. Cabinet Chief Alfredo Atanasof was referring to picket leaders words on Sunday that they were also protesting in order to get a meeting with top government officials and discuss their demands in person.
“It is not reasonable to conduct protests which affect the whole of society only because they want to see me. This government is open to dialogue,” said Atanasof in a press conference.
President Eduardo Duhalde is on Thursday expected to meet pickets Luis D’Elía and Juan Carlos Alderete, the chiefs of a more moderate faction of the country’s increasingly divided picket movement.
Yesterday’s roadblocks were scheduled to affect most entrances to the city of Buenos Aires, especially bridges which connect the city with its southern suburbs. But pickets ended up only blocking the Pueyrredón bridge due to the heavy downpour that prevented many protesters from making it to the roadblock.
“The heavy rain made it very hard for people to leave their neighbourhoods,” said Néstor Pitrola to justify the small number of demonstrators.


Martes 11 de febrero de 2003


Esquel: Lizurume defendió proyecto minero

El gobernador de Chubut, José Luis Lizurume, defendió el proyecto minero que una empresa multinacional emprendería en una zona ubicada a unos siete kilómetros de Esquel, y aseguró que "sería un zonzo y un irresponsable" si no exigiera "todos los recaudos necesarios" para que aquél no ocasione daños ambientales.
Asimismo, minimizó los resultados que arrojará el plebiscito por "Sí" o por "No" a la iniciativa, que resolvió hacer para el mes próximo el intendente de Esquel, Rafael Williams.

[peter.wedemeier1]

from yesterday`s paper in Argentina:

The governor of the province, the Jose radical Luis Lizurume, neighbor of Esquel, anticipated that he will vote by yes to the mine in the plebiscito. "Nobody can doubt that we want to protect the ecology and the medio.ambiente. But also we want to improve the conditions of life of the chubutenses ". For the intendant Rafael Williams, the protest is not absolutely genuine. "Those that do not want the mine are those that have an assured wage."

[peter.wedemeier1]

[peter.wedemeier1]

Wednesday February 12 12:22 PM EST

Barrick Appoints New Chief Executive Amid Concerns
By Lesley Wroughton


TORONTO (Reuters) -

http://ca.news.yahoo.com/030212/5/rsao.html

[peter.wedemeier1]

ABX Unrealized M- to-M is neg $639 mil
Is it any wonder that Oliphant was fired!

“The Company reduced its spot deferred position from 18.2 million ounces at year-end 2001, to 15.9 million ounces at year-end 2002. In addition, variable price sales contracts and call options outstanding at year-end 2002 declined to 2.2 million ounces from 5.9 million ounces. Overall for 2002, the Company reduced its total position by 6 million ounces. At year end, the unrealized mark-to-market was negative $639 million based on a spot gold price of $347 per ounce.”
http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

(post #46)


"Monty likes the pure gold shares and took positions in them recently. He sees good support for gold between $348 and $352."
"I would prefer to see gold hold at the lows of this week`s action but do not deny that strong support starts to build from the high $340s to tonight`s close. The pure gold shares acted quite well."

Technical Review

Gold, US Dollar, Canadian dollar
Plus: Those to whom I turn!

http://www.jsmineset.com/s/Home.asp

[peter.wedemeier1]

GOLD COT CHARTS
- COMMITMENT OF TRADERS REPORTS -

http://www.cairns.net.au/~sharefin/Markets/Charts/COTAU.htm

[peter.wedemeier1]

The Gold Volcano:
15 Roads Merge Golden Lava

Jim Willie CB
February 15, 2003

SOURCES OF MONEY FLOWING INTO GOLD & SILVER:

US Treasury debt securities
Chinese and Russian Central Banks
Arab Petro-Dollars
Gold Miners
Federal Reserve Monetization
EuroBonds
Japanese Savings
Pension Funds (managed and unmanaged)
Hedge Funds
Real Estate
Mortgage-Backed Securities
Corporate Bonds
S&P Stocks
New United States Gold-backed Dollar
New Argentina Silver-backed Peso

http://www.321gold.com/editorials/willie/willie021503.html

[peter.wedemeier1]

Dear Friend of GATA and Gold:

Here`s another gold market analyst who says he is
inclined to believe that central banks have been
suppressing the gold price through the mechanisms
identified by GATA but who can`t quite bring himself
to credit our work by name. Oh, well -- the word is
still getting around.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Location: Sunday 16 Feb 2003 > Markets

Fundamentals are pushing gold into super-bull territory

Market Watch

Victor Hugo

http://www.sundaytimes.co.za/2003/02/16/business/markets/mar…

[peter.wedemeier1]

>Judge halts all Meridian work on Esquel

By: Tim Wood


Posted: 2003/02/21 Fri 15:43 EST | © Mineweb 1997-2003


NEW YORK --
http://www.mips1.net/MGGold.nsf/Current/4225685F0043D1B28525…

[peter.wedemeier1]

Esquel project halted

Chubut shies away from gold mines











By Peter Johnson
Herald staff
ESQUEL —
http://www.buenosairesherald.com/business/note.jsp?idContent…

[peter.wedemeier1]

Esquel gold mine

Mayoral says Chubut at fault











By Peter Johnson
Herald staff

http://www.buenosairesherald.com/business/note.jsp?idContent…

[peter.wedemeier1]

P. Johnson Salient Highlights
“No tactic has been barred in an attempt to get the project cancelled, with junk science, misinformation and even vandalism and aggression being used by opponents to the mine in an attempt to get their way.”

“In an effort to provide definitive information on the water issue, Marud stated that Meridian has contracted an independent geologist to map out the water systems in the whole Esquel district, a survey that will cost the company an estimated US$ 300,000.”

“One resident told the Herald that most of the people in the local protest marches were not residents of Esquel at all and he suspected that they had been bussed in from the neighbouring village of El Bolsón and other places.”

“The situation in Esquel is becoming a thorn in the side of Chubut’s governor, José Luis Lizurume, who in media reports last Friday was reported as describing the situation in Esquel as “anarchic” and warning that if Meridian Gold’s project is halted the province could be sued for some three billion pesos.” (US$ 1.0 billion)


“A source at the mining Under-Secretariat in Buenos Aires told the Herald that the most vociferous opponents to the project are from a company in the province that lost the tender to carry out the environmental impact study for Meridian.”


“Should the mine project be halted, it is worth bearing in mind what Esquel would be losing.In an economy where over 80 percent of jobs are provided by the public sector and only 5 percent by tourism, Meridian’s investment of 100 million dollars in developing the mine plus the offer of 300 local jobs is difficult to ignore. According to Marud, between salaries and payments to suppliers, the company’s monthly outlay will be equivalent to the Esquel city budget.”

[peter.wedemeier1]

Gold & Silver Fut/Opt COT Feb 14
Should have been Feb 18, however the President Holiday Feb 17 and massive NE winter storm followed by clean-up has cut short the reporting period. For the combined Futures and Options report data, here then is the synopsis.

The Commercial IBs continued to buy-to-cover thereby reducing their net Short gold position to 272 tonnes and net Short silver position to 7,907 tonnes. These positions are down from Feb11 when the Commercials held net Short 334 tonnes gold and net Short 9,451 tonnes silver. On Feb 4, the Commercials held massive net Short positions in gold of 437 tonnes and in silver of 12,030 tonnes.

The combination of Shorts buying-to-cover and Longs selling-for-profit, has left the POG at near its 50 DMA of 352/353. While there are difference of opinions as to the consequence of the reduced tonnes in play, it is the belief of the experience analyzers that POG is forming a solid base in the 350 range and will soon challenge the 30 DMA of 360/361 and from there re-challenge the recent 390 high.

With more countries allowing legal ownership of gold, after China’s move, and now South Africa’s proposal, there will be considerable more strain put on the dwindling new supply of gold which is expected to be only 2200 tonnes for 2003.

There are still +3000 tonnes of hedged gold owed by the PMs led by ABX, NEM, PDG and others. ABX has on its books, a massive net unrealized loss of US$ 700 million with POG 347.

In addition more evidence is mounting that the world CBs have less than ½ of the 32,000 tonnes claimed in their vaults, the rest having been loaned, swapped, and derivative invested. The CB Banks of Portugal and Philippines recent action/disclosure providing credence.

http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

An email reply from MDG re: Esquel
We will be including an update on the situation in Esquel in our earnings release that will go out Monday. By that time, we`ll have more details that will be more valuable to the public. At this point in time, all that has happened is that this judge in Esquel has ordered this ruling, it is being appealed by us on Monday. We believe it will be overturned, due to the fact that it is out of the jurisdiction of the town to uphold such a ruling. We are governed by the federal mining law, and under that law, we have obtained all necessary authorizations to conduct our drill work. We continue to drill during the appeal process.


Deborah Liston
Meridian Gold Company
775.850.3764 voice
775.850.4564 fax
www.meridiangold.com

[peter.wedemeier1]

from gold-eagle.com -- commentaries. The Gold Volcano

Dollar under pressure, money moving out of petro dollars, paper money into gold. But the big players haven`t gotten all the shares they want yet at their rock bottom prices, so a major shake-out is under way.

[peter.wedemeier1]

[peter.wedemeier1]

The local judge has issued a "cease and desist ruling" on exploration, which was immediately appealed by the Provincial Authorities to the Supreme Court of the Province of Chubut, in addition to a local appeal filed by Meridian. This higher court STAYED the "cease and desist ruling" nullifying the lower court and will rule on the case.

[peter.wedemeier1]

Operating income increased 8% to $12.8 million mainly as a result of higher gold prices. The Company was able to capitalize on these rising gold prices because it remains 100% unhedged.

[peter.wedemeier1]

MDG Dec02 Summary
"Net profit is US$0.108/sh and completely unhedged

Net Cash Flow into treasury is US$0.124/sh. Treasury is US$135.7 mil and debt free.

Gross cash flow into treasury before exploration is US$0.161/sh

Exploration new discoveries have replaced the entire 2002 produced gold and silver.

Technicals are solid. Mgmt is solid similar to GG.

MDG is planning to be at 1.0 million ozs/yr by 2008.

Issue is pending environmental approval for the future Esquel project in Chubut province Argentina. Greenpeace is objecting to the proposed Sodium Cyanide gold recovery process even though Provincial and Federal Argentina have approved. Greenpeace has brought in outsiders to protest.

So the Naked Shorters are causing havoc. Just like GFI before everybody finally accepted Black empowerment and the new mining charter.

MDG went ahead to purchase and drill the Esquel property with full documentation of Federal and Provincial approval which would face a US$1.0 billion lawsuit if cancelled. MDG wins either way. In addition MDG continues to develop/drill other promising new gold properties in La Silla Mexico and Los Pircos Peru."
http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

MDG Victim of Naked Short Selling!
I contacted the SEC Monday as regards Equity Naked Short Selling, and they said that they have received numerous complaints, which the new Chairman Donaldson will be looking into.

The SEC said that NASD rule 3370 essentially requires members to provide the shorted equity within the 3 to 5 business days. The rule is not enforced unless a complaint is received but rather the NASD relies on honest reporting for its members. A rulebook is required for the details.

The NYSE is governed by Rule 440C for the Short Sale delivery, which was thought by the SEC person to be similar to NASD 3370.

Non NASD members such as certain online electronic trading firms like ECN, have no such governing rules according to the SEC. They essentially do what they want unless a complaint is received. Obviously an enormous loophole used by day traders, hedge funds, and bear funds. The SEC was reluctant to comment except to say numerous complaints have been received.

All Market Makers are allowed to do Equity Naked Selling and have at least 60 days to cover, according to the SEC. This is obviously another enormous loophole since no one is checking up on the Market Makers. The SEC person agreed reluctantly, as it would be opening up a big Pandora’s box if the SEC were to investigate. The Market Maker is equivalent to the fox guarding the hen house in my opinion.


The listed equity shorts on the 15th of each month are Covered Shorts only according to the SEC and do NOT include any Naked Shorts. The Market Maker does not report and non-NASD firms do not report. In addition NASD firms are trusted for their honest reporting as there is no follow-up unless a complaint is received.

Here is a web site for Naked Short Selling abuses and includes several cases.
http://**www.rgm.com/articles/nasd.html


SEC Contact:
Email address: [e-mail]
Phone: [phone]
Web address: http://**www.sec.gov/


NASD Contact:
NASD Web Address http://**www.nasd.com/
Phone & Email List: http://**www.nasd.com/contact_us/phone_numbers.asp

Remove ** for web/email contacts.

Call and Email the SEC to complain!

http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

MDG Victim of Naked Short Selling!
Additional web site information for ongoing cases.

"Here is a web site for Naked Short Selling abuses and includes several cases"

http://**www.rgm.com/shortselling.html
http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

Tim Wood keeps on spinning
from today`s Mine Web article on MDG:

"earnings were modestly better for the full year, but lower on a quarterly comparison, as higher taxes and operating costs offset improved gold prices"

[peter.wedemeier1]

>Esquel ruling stayed; mediators called in for Meridian

By: Tim Wood


Posted: 2003/02/24 Mon 20:21 EST | © Mineweb 1997-2003


NEW YORK --
http://www.mips1.net/MGGold.nsf/Current/4225685F0043D1B28525…

[peter.wedemeier1]

[peter.wedemeier1]

From today`s PR:

<<The company expects the project`s final feasibility study to be completed in March. By then, it also expects to receive the required operating permits for Esquel.>>

[peter.wedemeier1]

Reuters
UPDATE - Gold down on ECB sale, Iraq disclosure
Tuesday February 25, 3:17 pm ET


(changes dateline-previous LONDON, adds closing prices)
NEW YORK, Feb 25 (Reuters) -
http://biz.yahoo.com/rm/030225/markets_gold_4.html

[peter.wedemeier1]

February 25, 2003


Asian Interest Buys $373,615,200.00 Worth of Gold

Media Reports Central Bank Sells 30 Metric
Tons of Gold in the week ended February 21st.

"In time, the Gold Community will learn that the most positive action for the price of gold during a gold Bull Market is for central banks to sell gold."


"The proof (a gold price above $400) is not far off. I firmly believe that such an occurrence is coming in the not-too-distant future."

http://www.jsmineset.com/s/Home.asp

[peter.wedemeier1]

Rogue Market Makers & Naked Shorting
Law suits

http://
biz.yahoo.com/bw/021210/100403_1.html

Just a few interesting on-goings with the battle against Naked Shorting.

http://
search.yahoo.com/bin/search?p=%22Naked+Shorting%22+%2B+SEC



Website of the National Association Against Naked Short Selling

http://
www.nakedshortselling.com/

As long as Naked Shorting continues all the PMs will continue to get pummeled! We have witnessed devastating attacks on MDG ever since the environmental issue and Tim Wood MineWeb articles. Even the local Esquel Judge that ruled illegally and then held a publicity seeking press conference as mentioned during the CC yesterday.

Join in the fight and register your complaints today on PM Naked Shorting manipulation with the SEC & William Donaldson.

SEC Contact:
Email address: [e-mail]
Phone: [phone]
Web address:
Http://
www.sec.gov/

[peter.wedemeier1]

Dow Jones Business News
Meridian Gold: Noisy Esquel Development Process On Track
Tuesday February 25, 1:47 pm ET


VANCOUVER (Dow Jones)--
http://biz.yahoo.com/djus/030225/1347000869_2.html

[peter.wedemeier1]

Argentina is not going to lose out by not letting this huge gold reserve be mined.

[peter.wedemeier1]

ESQUEL
http://www.argentinaturistica.com/informa/esqifotos.htm

[peter.wedemeier1]

Argentina: Peoples and forests threatened by Canadian mining company

http://www.wrm.org.uy/paises/Argentina/about.html

[peter.wedemeier1]

Esquel project halted

Chubut shies away from gold mines











By Peter Johnson
Herald staff
ESQUEL — Argentina’s mining industry is facing its first major hurdle and unless the law of the land is upheld, many mining projects in the pipeline could be stillborn.

http://www.buenosairesherald.com/business/note.jsp?idContent…

[peter.wedemeier1]

tech_210 Re MDG worth
If Esquel is cancelled, MDG will be awarded US$2.0 billion from the Argentine Gov`t. There are 99 million shares which would make the compensation US$20.20 above where today`s close of $12.41. MDG share price will then be 12.41 + 20.20 = US$ 32.20. I said before MDG wins either way.

http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

Net income increase of 17%
Revenue increase of 19%
Current ratio of 5.48 and I`m sure thats improved
Beating revenue estimates by 10%
135m in cash

[peter.wedemeier1]

Gold has seen a 10% increase since last quarter

[peter.wedemeier1]

BOP 30t sale.. Option Forced Sale?
Similar to the BOP recent prior forced option sale of 15 tonnes. Global opinion is beginning to mount that with NO pre-announcement, Portugal’s derivative gold investments are beginning to be increasingly forced call to deliver. The SNB and other CBs pre-announce all of their intentions to sell reserve gold so as not to disrupt the market. Portugal did no such pre-announcements. This disruptive sale was not announced and yet was easily absorbed which means that there already was a buyer. At POG +350, the 30t is a US$340 mil purchase. Easily bought by one of the world’s billionaire, or China, or OPEC, or Islamic Bk etc.

More credence mounting that most of the global CB and institution 32,000 tonnes reserves are not in their vaults but rather out on loans, swaps, and derivative plays.

Long MDG and going Longer

Tech
http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

Jerritt Canyon

During the fourth quarter, Meridian`s share (30%) of Jerritt Canyon production was 26,843 ounces of gold at a cash cost of $223 per gold ounce versus 23,069 ounces at cash costs of $252 per gold ounce for the fourth quarter of last year. Cash costs have decreased considerably over the fourth quarter of the prior year, primarily as a result of extremely wet weather experienced in December 2001, which lowered mill throughput to 3,400 tons per day versus the usual 4,000 tons per day. Ore grades averaged 8.6 grams/tonne gold.

[peter.wedemeier1]

Jerritt Canyon Sale very good news
Meridian Gold Signs An Agreement To Sell Jerritt Canyon

--------------------------------------------------------------------------------

4:19 p.m. 02/27/2003


RENO, Nev., Feb 27, 2003 (BUSINESS WIRE) -- Meridian Gold Inc. (MDG) (MNG)

(All dollar amounts in U.S. currency)

Meridian Gold Inc.`s subsidiary, Meridian Gold Jerritt Canyon Corporation, and AngloGold (Jerritt Canyon) Corp., have entered into a purchase and sale agreement with Queenstake Resources Ltd. to sell their combined 100% interest of the Jerritt Canyon Joint Venture, with an estimated closing date of March 24, 2003.

Queenstake has agreed to pay $8 million upon closing, $6 million in equal quarterly installments beginning June 2004 as well as production royalties linked to gold price, with a sliding scale percentage feature ranging from zero to four percent. Meridian will receive its 30% pro-rata share of the sales price. Queenstake Resources will assume all obligations of the joint venture, including all current and future reclamation liabilities, which will be fully bonded and insured.

As a result of Meridian`s corporate goals and a review of strategic alternatives at Jerritt Canyon, the Company has decided that the property is no longer a core asset. Meridian`s long-term strategy is to maintain its cost structure within the lower quartile of the industry. Based on the Jerritt Canyon Joint Venture`s current plan, less than a two-year mine life was expected

[peter.wedemeier1]

From MDG`s 4th quarter press release.

Jerritt Canyon

During the fourth quarter, Meridian`s share (30%) of Jerritt Canyon production was 26,843 ounces of gold at a cash cost of $223 per gold ounce versus 23,069 ounces at cash costs of $252 per gold ounce for the fourth quarter of last year.

[peter.wedemeier1]

Feb25 COT Fut/Opt Gold & Silver
"Reports that the Commercials and Speculators continue to accommodate each other as POG 357.60 London PM Feb25 was solidifying above its 50 DMA of 352/353. The Commercials continue to buy-to-cover thereby reducing their net Short gold to 243 tonnes and net Short silver to 7,279 tonnes. These net Shorts are reduced from the Feb14 (18) data of 272 tonnes gold and 7,907 tonnes silver. And more dramatic are reduced from the Feb 4 record net Short highs of 437 tonnes gold and 12,030 tonnes silver. At this rate of net Short reduction one has to wonder if the Commercials will eventually go net Long for economic reasons at which point POG will head for +400


It would appear that at POG 349/350 POG Feb 28, most of the war premium is out of gold as IRAQ has apparently agreed to destroy their medium range Al-Samoud missiles. Only time will tell over this weekend as the new moon sets, which is ideal for USA military tactics. Increasingly however USA public polls are asking President Bush to wait for UN total support.

The recent unannounced sale by the BOP of 30 tonnes is increasingly looking like another forced option sale similar to Portugal’s previously unannounced 15 tonnes sale a few months ago. This could be the beginning of the explosive POG upward movement as the forced sales get increasingly bigger due to failing derivative investments and demand call for delivery. However as long as the combined CB sales stay within the allotted 400 tonnes per year there will be no damage and SNB, in particular, will have to curtail its pre-announced sales. One has to wonder, however, which CB will be called next. It will be like Pompeii watching Mount Vesuvius rumbling and wondering when, not if!"
http://messages.yahoo.com/bbs?.mm=FN&action=m&board=16004732…

[peter.wedemeier1]

THOM CALANDRA`S STOCKWATCH

Gold stocks valued below spot price
Some producers trading as if metal is 10 percent lower

By Thom Calandra, CBS.MarketWatch.com
Last Update: 12:12 PM ET March 3, 2003







SAN FRANCISCO (CBS.MW) -- Not six months ago, gold miners were the stock market`s biggest money-maker. Now they`re the new whipping boys.


http://www.marketwatch.com/news/yhoo/story.asp?source=blq/yh…

[peter.wedemeier1]

Guru Picks
Beat-Up Stock Buys


Marketocracy`s top-performing fund managers loaded up
Rounding out the top buys were precious metals miners Pan American Silver (Nasdaq: PAAS), which slipped 5% for the week to close at $6.46, and Meridian Gold (Nyse: MDG), which is trading at $12-$13 levels after being in the $14-$15 range the week before.

http://www.forbes.com/2003/03/04/cz_rt_0304guru.html?partner…

[peter.wedemeier1]

THE ARGENTINE CURRENCY DEVALUATION
by Ronnie Bloom
Marketing Corp. of Argentina
Buenos Aires, Argentina
March 4, 2003

http://www.financialsense.com/fsu/editorials/2003/0304.htm

[peter.wedemeier1]

A Bear Case Overview
by Bill Fox
VP/Investment Strategist, American First Trust Financial Services
February 28,2003

http://www.financialsense.com/fsu/editorials/2003/0228.htm

[peter.wedemeier1]

GOLD REPORT MYSTERIOUSLY “LEAKED”

http://www.nationalinvestor.com/embry%20report.htm

[peter.wedemeier1]

Thursday, October 3, 2002
Short Story on Silver - Part 1

Paper Rules

http://www.financialsense.com/Market/archive/shortsilver_1.h…

[peter.wedemeier1]

SPECIAL EDITION
Five Smooth Stones
How to Fight the Gold Goliaths and Win
http://www.financialsense.com/Market/archive/2003/0304.htm

[peter.wedemeier1]

The Associated Press
3/5/03 10:03 AM

BUENOS AIRES, Argentina (AP) -- The Supreme Court on Wednesday overturned a government decree that forcibly converted dollar-denominated bank accounts to the Argentine peso.

The ruling drew hundreds of cheering people to the steps of the courthouse.

The high court declared unconstitutional the government decision last year and ordered a $247 million deposit belonging to the provincial government of San Luis be restored to its original dollar value.

The ruling is expected to set a precedent for hundreds of thousands of Argentine savers who have been challenging the economic policies of President Eduardo Duhalde in the courts.

As part of January 2002 currency devaluation, Duhalde ordered all dollar deposits converted to pesos at a rate of 1.4 to the dollar. Since then, the peso has fallen some 60 percent to 3.2 pesos to the dollar.

The savings of San Luis province had been frozen as part of a banking freeze imposed in December 2001 by former President Fernando de la Rua in an effort to halt a run on the nation`s banks.

The account was then later converted into pesos after the country`s economic crisis forced current President Eduardo Duhalde to end the peso`s one-to-one peg with the U.S. dollar and devalue the currency.

Hundreds of Argentines gathered outside the Supreme Court in downtown Buenos Aires celebrated the decision, dancing and cheering after news of the ruling spread.

Angry savers have staged daily protests outside many of the country`s banks, demanding their accounts be restored to their original dollar value.

"Today a new Argentina begins!" shouted one unidentified woman on television after the ruling was announced. "We have justice."

The ruling did not specify how banks will go about converting the bank account back into dollars and did not set a date for doing so.

[peter.wedemeier1]

SE MOVILIZARON UNAS 3.500 PERSONAS

Nueva protesta en Esquel contra la mina de oro y plata

Piden que no se modifique la fecha fijada para el plebiscito que decidirá la suerte de la explotación. Temen que se contamine el medio ambiente.



Carlos Guajardo. CORRESPONSAL EN CHUBUT.

http://old.clarin.com/diario/2003/03/05/s-03501.htm

[peter.wedemeier1]

THE ARGENTINE CURRENCY DEVALUATION
by Ronnie Bloom
Marketing Corp. of Argentina
Buenos Aires, Argentina
March 4, 2003

http://www.financialsense.com/fsu/editorials/2003/0304.htm

[peter.wedemeier1]

Guru Picks
Chicken Little`s Stock Buys
Ratha Tep; data provided by Marketocracy, 03.10.03, 5:30 PM ET

NEW YORK - Despite the downright ugly market, Marketocracy`s top pickers, the M100, were buying depressed retailers and gold mining shares last week.

Other gold buys include Meridian Gold (nyse: MDG) of Reno, Nev., and Denver-based Royal Gold (nasdaq: RGLD).

http://www.forbes.com/2003/03/10/cz_rt_0310guru.html?partner…

[peter.wedemeier1]

Meridian Gold Inc.: The Province Of Chubut
Postpones The Public Hearing In Esquel
Tuesday March 11, 6:41 pm ET

RENO, Nev.--(BUSINESS WIRE)--March 11, 2003--Meridian Gold (NYSE:MDG - News;
TSX:MNG - News):

On March 10, 2003, the Legislature of the Province of Chubut, Argentina, passed Law 4972,
postponing the public hearing previously scheduled to take place on March 29, 2003.

The new law states that the public hearing will take place at least 30 days after the water
study, currently underway, is completed and published. The study will assess the impact of
mining activity on the water sources of the City of Esquel. We expect the water study to be
completed, audited by the Argentine National Institute of Water and published in April.

The public hearing will be a forum for all interested parties to discuss the development of the
Esquel gold project, which is 100% owned by Meridian Gold. The Company looks forward to
this hearing as an additional opportunity to inform members of the community on all aspects of
the project, including its high standards of environmental safety and the economic benefits it
offers Argentina at local, Provincial and Federal levels.

Meridian Gold Inc. is traded on The Toronto Stock Exchange (MNG) and on the New York
Stock Exchange (MDG).

Contact:

Meridian Gold Inc.
Wayne M. Hubert, 800/572-4519
775/850-3733 (FAX)
[e-mail]
www.meridiangold.com

[peter.wedemeier1]

Kirchner goes for the gold



Presidential hopeful Néstor Kirchner would seek to return to a system in which the peso is backed by gold reserves, his economic adviser, José María Las Heras, said yesterday.

Las Heras said that the return to a gold standard, discarded by the world’s leading economies decades ago, would be part of a monetary policy in which "there will be neither dollarization nor multiple currencies," since the aim will be "to have a single currency, backed by gold reserves, that would eventually converge with a single Mercosur currency."
The economist also said that if Kirchner won the elections scheduled for April 27, the incoming government would seek a cut of between 50 and 60 percent on interest payments on the foreign debt, although it would honour the face value of the debt. (DyN)
http://xxx.buenosairesherald.com/argentina/note.jsp?idConten…

[peter.wedemeier1]

03/13 05:48
Argentine President Candidate Urges Peso-Gold Link, Herald Says
By Claire Shoesmith

Buenos Aires, March 13 (Bloomberg) -- Nestor Kirchner, seeking to become president of Argentina, will try to return the country to a monetary system where the peso is backed by gold reserves, the Buenos Aires Herald said, citing Kirchner`s economics adviser.

The return to a gold standard would be part of a policy involving ``neither dollarization nor multiple currencies,`` the paper cited Kirchner`s adviser, Jose Maria Las Heras, as saying.

The policy would aim for the peso`s value to eventually converge with a single Mercosur currency, Heras was cited as saying. The Mercosur region includes Argentina, Uruguay and Paraguay.

Gold prices fell for a third day in London as the dollar strengthened against the euro and equities rose, making the dollar- denominated metal less attractive to European investors.

Kirchner, governor of the Santa Cruz province in Argentina`s south, is seeking to defeat rivals including former President Carlos Menem in April 27 presidential elections.

(Buenos Aires Herald Online 3-13)

For the paper`s Web site, enter http://www.buenosairesherald.com

http://quote.bloomberg.com/fgcgi.cgi?touch=1&btitle=Top%20Ne…

[peter.wedemeier1]

MDG in den HUI Index aufgenommen!

Index Components as of: 03/12/03
Company Name Symbol % Weighting

Newmont Mining NEM 20.51%
Goldcorp Inc GG 19.60%
Freep`t Mcmoran Copper&gold`b` FCX 18.81%
Golden Star Resources GSS 5.60%
Glamis Gold Ltd GLG 5.40%
Kinross Gold Corporation KGC 5.35%
Gold Fields Ltd Adr GFI 4.68%
Harmony Gold Mining Adr HMY 4.55%
Coeur d`alene Mines CDE 4.33%
Meridian Gold MDG 3.88%
Hecla Mining HL 3.78%
N.A. FCX_pc 3.53%

Die Trader, die den HUI Index nachbilden wollen, werden jetzt MDG kaufen.

[peter.wedemeier1]

Inspector Is Killed in Car Crash in Iraq


BAGHDAD, Iraq (AP) —

http://www.triggernews.com/ap/20030313/64ea-3ef0.html

[peter.wedemeier1]

As War Nears, Approval Ratings Rise for Bush
Wed Mar 19, 4:59 PM ET Add Politics - Reuters to My Yahoo!


By John Whitesides

WASHINGTON (Reuters) -
http://story.news.yahoo.com/news?tmpl=story&ncid=584&e=2&cid…

[peter.wedemeier1]

"MDG web site will now keep posting the latest mgmt comments on Esquel. This is a new feature as of Wed Mar 19 after several shareholders emailed and urged the MDG IR to inform us first before it is heard from those intended on Naked Shorting such as Tim Wood and the Esquel protesters.

It is very important to note that the decision to postpone the city of Esquel referendum vote was sought by MDG, as they wanted the water hydrology study completed first which is expected to be favorable for MDG. The Mayor of Esquel and the governor of Chubut both agreed with the MDG delay request, as both are favorable to the mine going forward. The water hydrology study is a US$ 300,000 by an independent 3rd party and paid for by MDG.

The Esquel protesters are primarily out-of-towners brought in by Greenpeace with illegal actions and false hype. To defeat these irresponsible persons, MDG mgmt are now organized to present the hard core facts and demonstrate why the design of the mine will be both economically and environmentally favorable to the residents of Esquel.

The MDG Esquel mine is on track and planned for first bullion pour in the 2H 2004 with full commercial production in 2H 2005.

The presidential candidate Kirchner, with his pro-gold stand and backing of the Argentine Peso with Gold, is definitely an asset to the approval of the MDG Esquel mine. Presidential elections will take place next month in April. The Argentine economy is very dire as the Peso continues to deteriorate. Unemployment is dangerously high and those that are employed are essentially government personnel

The recent decision by the Argentine Supreme court declaring illegal the govt decision to force bank accounts conversion of US$ into pesos in 2002, further aggravates the deteriorating economy. The conversion was at 1.4 and the peso has since deteriorate further to +3.2 so that reconversion back to US$ will cost the Argentine Federal govt US$ billions.

Bottom line is that Argentine badly needs the MDG Esquel mine to bring in US$, and the governments of Federal, Provincial, and City are lining up their full support for MDG. Since MDG has gone the country mile with their intended ultra conservative design of technical and environmental expertise, the momentum has now shifted to MDG favor. This could well explain the very positive market action of MDG shares including the late recovery on Weds. while most PMs continued to falter based on war concerns."


http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

MDG (+ 3.76% bei $9.39) hat soeben im US-Handel die Führung von RANGY (+ 3.05% bei $10.13) übernommen. Beide führen nun vor KGC (+ 1.89% bei $5.39).

Go Gold Go!

[peter.wedemeier1]

MDG (+ 4.42% bei $9.45) hat soeben die Führung von RANGY (+ 3.15% bei $10.14) im heutigen US-Handel zurückerobert. Beide führen nun vor CDE (+ 2.36% bei $1.30).

Go Gold und Silber Go!

[peter.wedemeier1]

MDG Esquel Mine Will Go Ahead
regardless, with or without the Esquel town people approval. MDG mine is much too important to the Argentine economy as well as future mining prospects. The entire global investment community is watching and one can be assured that they are not interested in Redford’s and Soros’s recreational estates. Argentina has very little else to balance the foreign account deficit as the Peso now is improving to 2.92 with the expectation that Kirchner, Duhalde’s political heir, will win the presidential April election and the Peso will be pegged to Gold. The new Argentine govt will want all the Forex revenue that they can get to buy gold. Brian Kennedy and MDG, have gone more than the country mile and will have spent another $10 mil for the environmental design bringing the total closer to US$100 mil up from US$90 mil. The environmental and technical design for MDG Esquel mine will be better than any other mine in the world. The Federal and Provincial authorities as well as Esquel Mayor have endorsed the mine going forward and it will be so regardless of any naysayers. Everybody can bet on it! Whatever needs to be done for the mine approval will be done now by all Federal, Provincial, and city government authorities!
http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

Argentina & MDG Esquel Mine
Up till now the Federal govt has been very patient with the Esquel protesters as they prepare for the federal elections scheduled for Apr 27. Once these elections are over so will the patience with the protesters. Argentina has suffered considerable embarrassment of a dwindling economy and has seen the Peso diminish by 2/3 to 3 peso per USD in less than 18 months. There are undiscovered rich mineral resources in Argentina similar to South Africa from which it was part of early in the Earth history. MDG Esquel gold mine is just the beginning. There has to be a balance between the new mining economy and the recreational sale of land to foreigners. It is time now that Argentina will take its place along side Peru and Chile and the new president will see to it that this is the case. Those that have shorted MDG best be covering for reality is setting in and time has run out.
http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7079186&…

[peter.wedemeier1]

MDG (+ 1.22% bei $9.15) hat soeben im US-Handel die Führung von SWC (+ 1.20% bei $2.53) übernommen.

Go Gold und Palladium Go!

[peter.wedemeier1]

RESEARCH ALERT-DB Securities raises Meridian rating
Wednesday April 2, 11:59 am ET


NEW YORK, April 2 (Reuters) - DB Securities said on Wednesday it raised its rating on Meridian Gold Inc. (NYSE:MDG - News) to "buy" from "hold" stating their belief that the stock is oversold.

[peter.wedemeier1]

MDG (+ 1.66% bei $9.19) hat soeben im US-Handel die Führung von SWC (+ 1.60% bei $2.54) zurück erobert. Beide führen nun vor KGC (+ 1.36% bei $5.95).

Go Gold und Palladium Go!

[peter.wedemeier1]

In CC on Monday Brian Kennedy CEO said 3 different times that MDG has the legal resource under the Argentine Mining Investment Law to proceed with the mine. He however said that MDG wants to work with the Esquel citizens to dispel their concerns before MDG proceeds. Edward Colt Exec. VP of explorations will now spend full time in communicating with the community in a number of town-hall meetings. The presidential elections will be finished on Apr 27 at which time the federal electees will also work full time with the Esquel community as Argentina desperately needs MDG and the Esquel mine. The Updated Reserves for El Penon, Esquel and Rossi are very bullish. As DB said today, MDG is oversold and this represents a buying opportunity!

[peter.wedemeier1]

Anybody that believes in the Gold Bull run and doesn’t buy MDG now will be kicking themselves. So what if perhaps Esquel gets its first pour late 2H 2004 and its full commercial operation late 2H 2005. POG will be that much higher and the profits will be that much bigger. Meanwhile MDG will make US$0.50 for 2003 with the combination of El Penon & Rossi and the treasury is increasing at the rate of US$5 mil per month or US$60 mil per year. Meanwhile Peru, Mexico, and Guatemala, drilling projects are shaping up as bonanza winners. Mark Esquel down as a “miserable learning experience” for MDG as Brian Kennedy said on 3 different times at the CC. This is a much tougher and better mgmt team now that will bring Esquel to fruition. The smart insider money is betting on it!

[peter.wedemeier1]

On May 1 2003, less than 4 weeks, the new Argentine president will be in place. The first order to be taken care of is the badly sagging economy and the soaring unemployment. The kid gloves come off then, as the govt will turn its full attention to the unreasonable Esquel protesters. MDG has gone way more than the country mile to appease the situation. Indeed it is more like an intergalactic mile. The project is now stated at US$100.6 mil, a full +10% higher, then the best technical, environmental compatible plant in the world would have cost. Yet MDG has committed these funds in order to be a “good neighbor”. The new Argentine govt with its sagging economy, falling Peso, and international debt downgrading is not expected to be so accommodating and patient. The entire country needs these revenues and the govt will hardly let these protesters impoverish the rest of the Argentines.

[peter.wedemeier1]

MDG (+ 4.17% bei $9.24) hat soeben im US-Handel die Führung von SSRI übernommen und führt nun vor CDE (+ 3.85% bei $1.35) und SSRI (+ 3.42% bei $4.53).

Go Gold und Silber Go!

[peter.wedemeier1]

MDG (+ 4.17% bei $9.24) hat sich soeben im US-Handel an die Spitze gesetzt. Weitere Gewinner sind heute ASL (+ 3.73% bei $5.28) und PAAS (+ 3.21% bei $6.11).

Go Gold und Silber Go!

[Wardriver]

@peter

Mußt Du so schreien,dich hört man ja noch drei Häuserblocks weit entfernt.

Wardriver

[peter.wedemeier1]

MDG (+ 4.28% bei $9.25) hat sich soeben im US-Handel wieder an die Spitze gesetzt. Weitere Gewinner sind heute CDE (+ 3.85% bei $1.35) und ASL (+ 3.73% bei $5.28).

Go Gold und Silber Go!

[peter.wedemeier1]

Technically this stock is the cream, as South American labor remains the most economical worldwide. Meanwhile SA-Gold value remains the highest in the world as the currencies remain flat. After today, there are only 15 trading days before the new Argentine President is in place. Both Presidential leading contestants are very pro-gold. There will be a lot of heads rolling then for those that would impoverish the country for their own personal gains such as the estate ranchers and their paid protesters. More info will become apparent later. For those who don’t pick up this bargain now, will wish that they had when looking back in 3 weeks. It looks like some of the shorts are heading for the exit today.

[peter.wedemeier1]

MDG (+ 4.74% bei $9.29) hat sich wieder an die Spitze im US-Handel gesetzt. Weitere starke Gewinner sind heute RANGY
(+ 4.37% bei $10.98) und PAAS (+ 3.72% bei $6.14).

Go Gold und Silber Go!

[peter.wedemeier1]

MDG (+ 3.65% bei $9.94) hat soeben im US-Handel die Führung von RGLD (+ 3.30% bei $15.90) übernommen. Beide führen nun vor PDG (+ 2.60% bei $9.85).

Go Gold Go!

[peter.wedemeier1]

MDG (+ 1.71% bei $10.09) hat soeben die Führung im US-Handel von KRY übernommen.

Go Gold Go!

[peter.wedemeier1]

[peter.wedemeier1]

MDG (+ 3.23% bei $10.24) hat soeben im US-Handel die Führung von RGLD (+ 2.90% bei $16.67) übernommen. Beide führen nun vor BVN (+ 2.21% bei $26.88).

Go Gold Go!

[Spieler0815]

Go Go Go

[peter.wedemeier1]

MDG (+ 2.71% bei $10.23) hat soeben im US-Handel die Führung von HL (+ 2.50% bei $3.69) übernommen. Beide führen nun vor PAAS (+ 2.28% bei $6.29).

Go Gold und Silber Go!

[svc]

in diesem jahr werden wir sicherlich noch einige übernahmen im goldsektor erleben. das sollte sich durchaus förderlich für die entwicklung der gm kurse erweisen. wir denken , dass mdg ein klasischer ün kandidat sein könnte. newmont wird nicht lange fackeln um wieder die nummer1 zu sein!

quelle http://www2.marketwatch.com/news/newsfinder/newsArticles.asp…

UPDATE 2-Newmont mum as its top gold-miner rank threatened
5/16/2003 5:47:34 PM

By Lesley Wroughton

TORONTO, May 16 (Reuters) - Newmont Mining Corp. (NEM) said on Friday a merger between AngloGold <ANGJ.J> and Ashanti Goldfields Co. <AGC.GH> would be good for the gold industry, but refused to say if it was considering a competing bid for Ashanti to keep its ranking as the world`s top gold company.

South Africa`s AngloGold said on Friday it was in talks to buy Ghana-based Ashanti, known for gold mines in four African countries, for about $1.015 billion in shares.

It would make AngloGold the world`s biggest gold producer, with annual output of around 7.6 million ounces.

The Ghanaian government has a 20 percent stake in Ashanti and would have a veto on any deal. The country has been a low-profile gold producer but interest in it has grown recently since the government began pushing more flexible mining laws.

Denver-based Newmont bought Australia`s Normandy Mining and Canada`s Franco-Nevada gold royalty company on Feb. 15, 2002, making it the world`s top producer and plumping up its output to an estimated 7.1 million to 7.3 million ounces this year.

The integration process is almost complete, with Newmont cleaning up minority stakeholdings in some assets.

"Size matters and I think the industry has been very fractured, and this helps to bring more clarity," said Newmont spokesman Doug Hock.

"Going forward, it will be important to have size in order to survive and thrive in this industry, and it`s in the best interest of the industry to have large players."

In recent months, Newmont has shown keen interest in Ghana and was surprised by the potential of two gold deposits it inherited from Normandy in the West African nation.

Since then, Newmont has added Ghana to its list of five global core asset areas and plans to make a production decision later this year on the Akim and Ahafo deposits.

"Right now we`re focused on these two projects that we are keen on and we`re focused on growing those and pushing those forward," Hock said.

Ron Coll, an analyst at Jennings Capital, said Newmont had the financial capacity to make an offer.

"These are good assets and Newmont already has interests in Ghana so this would be a natural fit. Consolidation is the name of the game in the gold industry and the only way to get bigger quickly is through acquisitions. Newmont is certainly studying this now. It is reasonable to expect another bid will arise," he said.

A senior Canadian mining executive pointed out that the Ashanti transaction would be the first big takeover in the gold industry since the gold price moved above $300 an ounce and hit a 6-1/2-year high in February.

"I think any of the larger mining companies could make a play," he said. "I really like their asset base and I`m not surprised somebody wants it.

Vince Borg, spokesman for Toronto`s Barrick Gold Corp. (CA:ABX) , which has been an avid asset hunter in the past, declined to comment on the AngloGold-Ashanti talks.

Barrick chief executive Greg Wilkins recently indicated a shift in emphasis for his company, the world No. 2 gold firm, from acquisitions to exploration.

It also intends to spend nearly half of its war chest, used to fund takeovers, to buy back 35 million of its shares, or 7 percent of its public float, saying the stock price does not reflect the true value of the company.

Wilkins also noted at a recent shareholders meeting that many acquisitions in the industry had not realized their value and in some cases buyers had overpaid.

(With additional reporting by David Sinkman in New York)

© Reuters 2003. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent

[Dickhaut]

Der Kurs von Meridian ist schon verdächtig tief.
Mal sehen.

[svc]

@dickhaut

es gibt ja nun auch fundamentale gründe für den etwas moderaten kurs. das argentinien projekt, welches sehr aussichtsreich erscheint ist aufgrund von umweltschützern ins stocken geraten - und das ist auch gut so.

wir sind uns aber sicher, dass mdg die richtlinien übererfüllen wird und zu ein einvernehmlichen ergebnis mit den residents kommen wird.

diese lösung wird den residents und mdg einen grossen nutzen bringen.

die chancen bei einer umweltverträglichen nutzung sollten auch für die aktionäre attraktiv sein. bei schweinereien steigen wir aus - und da gibt es einige in südamiland!

trotzdem ist unser kursziel 13,4 eur.

svc

[peter.wedemeier1]

MDG (+ 2.51% bei $11.45) hat soeben im US-Handel die Führung von PAL (+ 1.80% bei $3.39) übernommen. Beide führen nun vor SWC (+ 1.18% bei $4.27).

Go Gold, Platin und Palladium Go!

[peter.wedemeier1]

MDG (+ 1.36% bei $11.20) liegt im US-Handel in Führung.

Go Gold go GATA go MDG!

[peter.wedemeier1]

MDG (+ 1.45% bei $11.21) hat soeben im US-Handel die Führung von AEM (+ 1.30% bei $11.72) zurück erobert.

Go Gold go GATA go MDG!

[Sozzi]

@p.w.,

anstatt dir die Mühe zu machen, so viele einzelne Goldwerte zu bewerben nimm doch einfach Dundee Precious Metals (WKN 872063)...

Hier das aktuelle Beteiligungsportfolio von DPM:

Altius Minerals Corporation
American Bonanza Gold Mining Corporation
Anatolia Minerals
Apollo Gold Corporation
Argosy Minerals
Ariane Gold Corporation
Atikwa Minerals Limited
Bolivar Gold Corp.
Cambior
Campell Res. Inc.
Canadian Royalities Inc.
Case Resources Inc.
Cumberland Resources
Diagem International Res.
Eastmain Resources Inc.
Eldorado Gold Corporation
European Goldfields Ltd.
FNX Mining Company
Gabriel Resources Ltd.
GlobeStar Mining Corp.
Golden Queen Mining
Greystar Resources
Hedman Resources Ltd.
Manhattan Minerals Corporation
Major Drilling Group
Metallic Ventures
Metallica Resources
Miramar Mining Corporation
Nichromet Extractions Inc.
Northgate Exploration Ltd.
Opti Canada
Pacific Rim Corporation
Pele Mountain Resources Inc.
Quest Ventures
Ranchgate Oil & Gas
Rio Narcea
South Atlantic Ventures Ltd.
Stratic Energy Corp
Tahera Corporation
TecnoPetrol Inc.
Tempest Energy
Titanium Corporation
Twin Mining Corporation
Verena Minerals Corporation
Western Canadian Coal Corp.
Wolfden Resources
East African Gold Mines
Revesco Group Ltd.
Red Back Mining NL
Buenaventura

[peter.wedemeier1]

!

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