Glamis Gold Ltd (NYSE: GLG) - 500 Beiträge pro Seite

[peter.wedemeier1]

Runter zu der 50-day EMA.
Long. Ich denke die 50-day EMA wird als Boden für diese Goldaktie dienen. Stochastic steigt schon aus Überverkauft heraus.

peter.wedemeier1

[peter.wedemeier1]

GLAMIS GOLD >Best gold & silver stocks for the half-year bei den Precious Metals Aktien $5-$10 die Nr. 1.
http://www.mips1.net/MGGold.nsf/Current/4225685F0043D1B28525…

[peter.wedemeier1]

GLG ein Kauf!
1.) Gewinnwachstum:
GLG hat 2001 große Verbesserungen bei den Gewinnen gezeigt und wird es 2002 wiederholen. Das Gewinnwachstum 2002 wird basierend auf den durchschnittlichen Schätzungen mit 40% reinkommen und möglicherweise viel höher. Welche anderen Unternehmen dort draußen können dieses ebenfalls vorweisen?
2.) Keine Schulden und kein Hedging:
Schuldenfrei spricht für sich selbst. Null Hedging gibt den maximalen Leverage zu einem steigenden Goldpreis.
3.) Steigender Goldpreis:
Groß gehedgte Minen gehen und schließen ihre Hedges. Der Investmentbedarf (Gold) in Japan steigt und wird weiter steigen. Und die Accounting Skandale (Enron, Merck, WorldCom, etc., wer ist der nächste?) treiben die Leute in die Sicherheit vom Gold.
4.) Major Märkte Crashen
Alle die Hauptindizes (Dow Jones, Nasdaq, Euro Stoxx, Dax, Nemax etc.) sind noch sehr stark überbewertet und werden bald crashen.(Der Dow Jones z.B. müßte nochmal um 50% fallen, um wieder ein normales und gesundes Verhältnis zu haben. Bei den anderen Indizes gilt dasselbe.) Gold und Goldminenaktien sehen schön aus im Vergleich zu diesen Hunden vom Dow Jones und dem Nasdaq.
5.) Dollar crashing
Soros glaubt das der Dollar noch um 30% überbewertet ist. Und nun setzt die FED fort Dollars zu drucken!!!

Sonst noch irgendetwas hinzuzufügen?

[peter.wedemeier1]

Accurate. Chicago-Sun-Times. July 11, 2002.
By Terry Savage Sun-Times Columnist.
Did anyonesee this coming? By "this," I mean not only the bear market, but the accounting scandals, the deception by corporate executives, and the disappearance of billions of dollars in shareholders` equity?
Yes, indeed two longtime stock market experts waved red flags for the last five years. And they were ignored rediculed, and even threatenedover their warnings of questionable accounting. So it`s appropriate to go back and acknowledge their foresight--As wellas to ask them where they`d be investing now, and for the future. Here`s a hint: They both still incredibly bearish. They areavid Tice, portfolio manager of The Prudent Bear Fund (www.PrudentBear.com) (That large portion of his fund is invested in gold mining co`s.) and Chuck Allmon that wrote Growth Stock Outlook for 37 years. (More on Chuck Allmon later.
"As the decade ended, Allmon list of recommended stocks contracted:only a real estate investment trust and a large gold-mining company, along with few old-line companies. but the most of model portfoilio was in short-to-medium-term government securities. In mid-1999 Allmon forcast that the S&P500 the Wilshire 5000 and the Dow Jones Industrial average could fall 40%to60% by 2001." And what does he think is coming next?
"More of the same," he responds promptly, adding, "There`s something big out there we haven`t seen in 70 years, and I`m talking about trust. It`s gonna take a long time to get people to regain their trust in corporate america." I hope you all read the last parenthesis very carefully! Insure yourself.

[peter.wedemeier1]

Südafrikanische Unternehmen sind etwas billiger als Ihre nordamerikanischen Konkurrenten und präsentieren momentan die beste Kaufgelegenheit. Gold und Goldminenunternehmen stehen am Anfang von einem langen bull market, welcher gerade gestartet ist.
Die Stochastic beim Gold hat am 05.07. den Boden gebildet, verbunden mit einem austrocknenden Volumen zur gleichen Zeit. Seitdem entwickelt das Gold Preismomentum während des Aufwärtstrendes. Der Aufwärtszyklus befindet sich in der Startphase. Das Gold könnte nun Stärke aufbauen., wie bewiesen mit der verbundenen Steigerung beim Volumen. seit dem 05.07. Dieses wird Goldminenaktien unterstützen. Und somit GLG. Sehe auf den GLG Chart, ein Ausbruch zu der Oberseite ist möglich (möglicherweise hat er am Freitag letzter Woche schon begonnen.)

peter.wedemeier1

[peter.wedemeier1]

Issues to Rescue Africa. July 14.02.
From Bill Murphy.
(The last part of the article.)
To further substentiate GATA`s claim:
RBC Global Investor Management Inc., a division of Royal Bank of Canada, whose gold mutual fund is among the best performing in the world, has issued a report that has circulated throughout Europe to clients and prospective clients. The report fully endorses GATA`s analysis of the gold market and the manipulation of the price of gold. The report say the price of gold is going to explode for the following reasons:
1. Unsustainable supply/demand imbalance.
2. Unsustainable short position.
3. Unsustainable low inflation.
4. Unsustainable low U.S. dollar.
5. Unsustainable prices for financial assets.
6. Increasing evidence of unsustainable gold
price manipulation.

[peter.wedemeier1]

Head&Shoulders bei S&P 500 komplett. Diese Formation ist sehr bearish. Und die fundamentals din sehr schrecklich. Trotz des massiven Verfalls bei den Kursen, ist das PE Ratio aktuell am Steigen, weil die Gewinne schneller am Fallen sind. Und ob man den Gewinnen in dieser Berichtssaison glauben kann steht noch auf einem anderen Blatt Papier. Man kann über die Goldpreismanipulation von den Politikern und der Wall St. besorgt sein.Ich habe Gold- und Silberminen, gerade um sie zu haben, wenn die Leute aufwachen, aus dem Grund, das es so nicht weiter gehen kann. Es ist eine unvermeidbare Sache. Der Euro befindet sich über der Parität und steigt weiter. Es ist der höchste Stand seit ungefähr 2,5 Jahren. Der Euro und das Gold folgen gewöhnlich jedem anderen in einem Aufwärtstrend gegenseitig. Und dieses trifft auch auf Gold- und Silberaktien zu. GLG sollte eine "core holding" in jedem Portfolio sein!

Eine Angsttaktik!
Sie warteten gestern darauf, das der Goldhandel in New York schließt. Und das Gold war gestern um $4,- gestiegen. Dort gibt es immer etwas Unsicherheit, in Berücksichtigung des Goldhandels am nächsten Tag und die wenigen Stunden vom Aktienhandel nach dem Schluß des Goldhandels werden oft benötigt zu ängstigen die schwachen Hände um sie raus aus den Goldaktien zu bekommen. Bekomme einen Griff und behalte deine GLG Aktien. Wie der Aktienmarkt nicht gerade jeden Tag heruntergeht, so gehen die Gold- und Silberaktien nicht gerade jeden Tag nach oben zum Mond. Man hat also den Trend zu beobachten.

[peter.wedemeier1]

Diese Aktie bekommt sehr starkes Momentum, wenn sie einmal startet zu steigen. Meist möglich heute bei Handelsbeginn in den USA. Das letzte Mal ging sie von $8,- hoch und stieg um $2,- nach oben in ein paar Tagen. Das Inestieren in Gold ist ein langfristiges Projekt. Diese Aktie bekommt sehr viel Unterstützung von Allen. Derjenige der von GLG nicht genug Aktien hält ist ein großer Narr, wenn GLG durch die Decke geht. Der größte Narr ist derjenige, der die Aktien aufgrund von wertlosem gerede verkauft oder erst gar nicht kauft.

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[peter.wedemeier1]

Alle stürzen zur Tür hinaus! Zeit zu kaufen, wenn die Panik am größten ist.

peter.wedemeier1

[peter.wedemeier1]

Positiver MACD in Verbindung mit einem gesteigerten Volumen und block trades (Long Empfehlung)

Geht long bei GLG! Positives Volumen läßt einen Bruch des Widerstandes bei $10,50 vermuten, und dieses könnte einen Haupteinfluß für eine sehr starke Bewegung nach oben haben.

[peter.wedemeier1]

Ein Barrons Artikel!

Monday, September 9, 2002
Miner Keys

Longtime gold booster says the metal is due for a rousing comeback

An Interview With James Turk - Gold appears to have broken out of its longtime funk. But is the move just a flash in the pan or something more substantial? For an answer, we turned to one of the more obsessed gold authorities we know, James Turk, publisher of the Freemarket Gold & Money Report newsletter and founder and managing director of Goldmoney.com, a company striving to make the metal the currency of choice in global commerce, especially in cross-border transactions. An international banker and manager of the commodity department for the Abu Dhabi Investment Authority for much of the `Eighties, Turk spent most of the `Nineties providing strategic advice and forecasts to investment managers. To learn why he thinks gold is on the cusp of a new bull market and which stocks he`s focused on, please read on.

--Sandra Ward

Barron`s: Gold has had quite a run. What can we expect going forward?

Turk: The move we had earlier in the year was so good, we were bound to see some consolidation in July and August, which is normally a quiet time of the year for gold, anyway, and that`s what we got. Now, my expectation is we will test resistance at the $325-an-ounce threshold again in either September or October. I believe $325 will be crossed this year and that will mark the beginning of the bull market in gold.


Turk believes his "fear index" now favors gold.


Gold had been in a clear down trend through the `Nineties until May 1999, when the Bank of England said it would sell half its gold reserves. That resulted in panic selling and gold bottomed in July 1999 at $252 an ounce. It worked its way higher, then tested that low in early 2000 before climbing the past few years to current levels. What we`ve seen is a huge base being formed and the price going higher as the metal has been accumulated. Once the $325 level is taken out, that will signal the beginning of a new bull market.

Q: We`ve had a bear market in gold for 20 years. So how long will a bull market last?
A: I have a long-term model I use to identify trends in the gold market that I call the "fear index." The index reflects the relative position of gold compared to the dollar. When fear about monetary problems is rising, people move to gold from dollars, and the fear index captures these moves. The index is calculated by taking the U.S. gold reserve, multiplying it by the gold price and dividing it by M3, the broadest measure of money supply, to quantify the percentage of gold relative to dollars in circulation and determine the level of confidence in the dollar and any possible cyclical patterns. The fear index shows four distinct bullish cycles for gold since 1971, when the gold standard was abandoned: inflation in the early and late `Seventies, the savings-and-loan crisis in the `Eighties and then the collapse of the exchange-rate mechanism in the early `Nineties when George Soros broke the Bank of England. We just got the fifth buy signal at the end of May. At the least, these cycles tend to last a couple of years. We don`t know how long this one is going to last, but my expectation is we`re at the beginning of another bullish cycle that will last at least two years.

Q: But if you`re looking at gold reserves as a percentage of M3,doesn`t flooding the system with liquidity skew the result?
A: All I`m doing is taking the year-to-year growth in M3 at the end of each month and plotting it on a chart. Back in the 1970s, we had double-digit inflation rates because we had double-digit rates of growth in M3. Then, former Fed chairman Paul Volcker`s mandate was to reduce inflation, and he did it by reducing the growth rate of M3. Fed Chairman Greenspan continued those disinflationary policies when he came into office in 1987. In 1992 we had a short period of deflation when M3 declined from the previous year`s level. This 1992 period is significant, because it marks the blowup in the exchange-rate mechanism. But the Volcker-Greenspan policies became so painful to European countries, Italy and Great Britain specifically, that they chose to break from the exchange-rate mechanism and pursue their own course. That was a message for reinflation in the `Nineties and we`ve had massive growth in M3 since then. The early part of this reinflation led to the 1993-1994 bull market in gold and gold stocks. And the reinflation has continued.

Now we`re headed to the next stage, which isn`t supply-driven, but rather a demand-driven issue. When you talk about inflation or deflation, you`re talking about the quantity of dollars and therefore the supply of dollars. Yet we need to focus on demand for dollars rather than the supply of dollars, because we assume demand remains constant though it doesn`t work that way in the real world. The demand for the Argentine peso disappeared overnight. I am not saying that`s going to happen with the dollar, but the dollar nevertheless has fallen in the foreign-exchange markets, which suggests that the Fed isn`t contracting the growth of M3 fast enough to maintain the dollar`s strength relative to other currencies of the world.

Q: So are we heading into a deflationary period?
A: I don`t think so. I wouldn`t call it inflationary; I wouldn`t call it deflationary. We will see rising prices, not because of the dramatic increase in supply of dollars, but because of dramatic decreases in demand for dollars. The supply of dollars may remain the same, but if demand declines, the dollar purchases less, which expressed in terms of prices means that prices will be rising.

Q: Talk about China`s role in the gold dynamic.
A: The Chinese impact on gold will be extremely profound. The Chinese-language character for gold is the same as the one for money. As far as the Chinese are concerned, gold is money. The Chinese central bank reported an increase in their gold holdings to the International Monetary Fund last year. But the number is still small, about 500 tons compared with 395 previously reported. The general market view, though, is that the Chinese central bank has been accumulating gold and not reporting all their holdings to the IMF.

Q: Somebody must be selling it to them.
A: Now you are getting into the whole issue of who is selling the gold and who is shorting gold. There is a point of view that, in addition to some mining companies, banks and other financial institutions have been borrowing gold to fund dollar assets and earn a spread similar to that of the yen carry trade of a few years ago. People were borrowing yen at 0.5% to fund dollar assets and making 5% on the spread until the yen started to appreciate. Now, gold is being borrowed from the central banks and sold into the market in exchange for dollars. That`s fine in a declining gold-price environment, but in a rising gold environment it can kill you. We know the central banks loan the gold, but it`s unclear which ones are doing it and how much they are loaning out.

There is evidence to suggest the Exchange Stabilization Fund, a quasi-government agency under the direct control of the U.S. Treasury secretary and the president, has been active in the gold market. If the gold price were to rise, the multinational banks who are the big shorts in the gold market wouldn`t be able to cover their shorts and would take big hits. That`s why the ESF is involved to help manage the price of gold. It isn`t unprecedented that gold is loaned or flows into the market. What`s unprecedented is the lack of disclosure. My sense of it is that there`s more than 10,000 tons loaned into the market by central banks. If that`s true, that`s four times annual production. Can you imagine if people were short four times wheat production in one year? There is systemic risk here.

Q: Are you recommending people buy gold bullion, or should they buy gold stocks?
A: People make a mistake thinking bullion is an investment. Mining stocks fall into the investment category, but bullion is cash. It isn`t an investment. You buy bullion for liquidity purposes. You buy bullion for safety purposes, because there is no return to bullion unless you lend it out. It`s clear, though, that people see gold as an increasingly important component of their cash and liquidity holdings.


According to Turk, "People make a mistake thinking bullion is an investment. Mining stocks fall into the stock category, but bullion is cash. It isn`t an investment."


Q: What about gold stocks?
A: There are two models that I like to use. The XAU, which is the Philadelphia Gold & Silver Index, is a basket of about nine different mining stocks, including the majors and some good quality second-tier stocks as well. Tracking the 12-month year-over-year change in the XAU provides a good sell signal if it registers 50% growth over the previous year, regardless of the price of the XAU. Conversely, when the XAU declines 25% to 30% from the previous year, it`s typically a good buy signal in terms of relative appreciation.

Another model I find useful is one that quantifies how many gold grams are needed to purchase one XAU share. For example, the XAU now trades at about 72. A gram of gold is about $10. By dividing the gram price into the XAU price, we see it takes about seven grams of gold to purchase one XAU. This is significant, because historically the gold-mining stocks have been relatively inexpensive and represented good buys at times when it takes about six grams to buy an XAU share. When it takes 10 or more grams to purchase one XAU, the mining stocks tend to be relatively expensive. Even though six months ago we had a breakout from the six-year downtrend in gold stocks, we`ve retraced and we`re close to a buying opportunity where gold stocks look cheap compared with gold bullion.

Q: But what about the fundamentals of gold stocks? Don`t you have to look at hedging and what it costs to get the gold out of the ground, rather than just gold`s price?
A: There are a number of measures to use to evaluate gold stocks. The first one to consider is whether a company has hedged future production. That`s the great divide. I recommend gold-mining stocks that don`t hedge or have minimal hedged positions, because if the gold price rises, the stocks that are hedged are giving up potential cash flow by being forced to deliver into those hedges below the market price. There are a number of companies that have losses on their hedges simply because the gold price has risen beyond the price at which they sold forward.

Q: What else do you consider before buying a gold-mining stock?
A: The second consideration is the cost of production -- not just the operating cost, but the total cost basis to get the gold out of the ground. In this regard, there are two types of mines: underground mines, with deep shafts that enable the ore to be mined, and open-pit mines from which the gold is dug out. Generally speaking, the underground mines have a high capital cost, and the open-pit mines have a relatively lower capital cost but higher operating costs.

Say a mine has a total production cost of $280 an ounce, and the price of gold is $300 an ounce. It makes $20 per ounce. Say another mine has a total production cost of $100, gold is at $300 and so it makes a profit of $200. If the gold price were to rise to $320 from $300, the mine that has a $280 total cost is doubling its profit from $20 to $40 per ounce, whereas the one that has a $100 cost is only increasing its profit by 10%. The company with the higher total production cost is operating on the margin, and any increase in the gold price has a much more immediate impact on the bottom line than it would for the low-cost operators. In a bull market, the marginal stocks will tend to outperform. There`s more risk associated with them, but as the gold price rises there`s more potential as well. It always comes back to risk versus return. The nonmarginal low-cost producers won`t have as much appreciation, perhaps, but they will go up as well.

Table: Turk`s Picks

Company Symbol Recent Price
Harmony Gold Mining HGMCY $15.53
Durban Deep DROOY 4.09
AngloGold AU 24.48
Goldcorp GG 10.90
Newmont Mining NEM 29.22
Glamis Gold GLG 9.73
Agnico-Eagle Mines AEM 15.58
Iamgold IMGDF 3.70

Pans
Newcrest Mining NCMGF $3.75
Sons of Gwalia SOGAF 2.42


Q: What are other factors to consider?
A: No. 1 is management and the quality of the balance sheet, but you also have to look at the quality of the mine, the life of the mine and political risks.

Q: So it wouldn`t be wise to just buy a basket of gold stocks to play a rise in the price of gold?
A: I wouldn`t recommend it. I would recommend that you pick and choose very carefully companies that aren`t hedged, whose managements have a demonstrated record of success and the potential for paying dividends down the road. As the gold price goes up, the mine has two options: It can take the excess cash flow and expand its business to other areas and buy more mines, or it can pay a dividend to their shareholders over the life of the mine. Some of these are very long-lived mines.

Q: Which companies are you recommending?
A: In South Africa, my favorite is Harmony Gold Mining. This is a company that changed the face of mining in South Africa. Under the old system, mining houses would operate a series of mines and they would collect a fee for doing that. That system broke down. Harmony emerged as a great management team with some very good properties, and they built up one of the world`s biggest mining companies. It`s got a relatively high cost structure, so it`s leveraged to the gold price. Durban Deep is a more speculative turnaround story that is also highly leveraged to the gold price. It was a marginal mine and there was a lot of uncertainty about its future. They put a good management team in place with Mark Wellesley-Wood, the new chief executive, but I wanted him to put together two good quarters before I recommended the stock. He did that in the second and third quarter last year.

Q: Anything more recent?
A: In the last couple of months, I recommended adding AngloGold. Anglo-Gold is the largest South African mining company and it`s the second-largest gold producer in the world. It`s been aggressively reducing its hedge book. And it`s a good dividend payer. Plus, they have a lot of geographical diversification.

Q: What are you looking at in North America?
A: The premier stock is Goldcorp. It`s a wonderful situation. They are mining the world`s richest gold mine in Canada in an area that`s been a major producing area for 70 years. Their existing mine has many years to go. They have a good management team and one of the best balance sheets and cash-flow positions in the mining industry. It has shown tremendous price appreciation over the past 10 years and it`s outperformed the S&P 500. It has been a growth stock because they discovered a new deposit next to an old mine that is now the world`s richest gold mine. They`re raking it in. To put it into perspective, they`re mining gold with a grade of more than two ounces per ton. Many mines can make money on gold with a grade of a fifth or less of an ounce per ton. It`s a tremendous company, and even though it`s done extremely well, there`s still a significant opportunity. They pay a dividend and I expect the dividend will continue not only to be secure but will increase along with the price of gold. They just announced a dividend increase of 20% Wednesday. It`s a real Cinderella story.

Q: What else do you like?
A: Newmont Mining I like. It`s got a hedge position bigger than I would like to see. The hedge came from Normandy Mining in the three-way merger of Franco-Nevada, Normandy and Newmont. Management has indicated they wanted to reduce the hedge position. However, they`ve been very slow in going about it. For now I am willing to live with the situation because management owns a big chunk of shares and I like that commitment. Newmont is the world`s biggest producer. They`ve got some great mines and good geographical diversification. The balance sheet is much improved after the merger and they have the tactical brilliance of President Pierre Lassonde on their side, which to my mind goes a long way.

Q: Any other more recent buys?
A: I`ve just added a few more to my buy list, one U.S. company and two Canadian companies. The U.S. company is Glamis Gold. They are very good operators. They`re nonhedged and they`ve just acquired a couple of Central American properties. One of the two Canadian companies is Agnico-Eagle Mines, which trades on the New York Stock Exchange. They have no hedging policy on precious metals, though they hedge some base metals and run an underground mine in Canada. The other one is Iamgold. It jointly owns two mines in Mali with AngloGold, which is the operator. And both Mali properties are world-class. Iamgold gets a share of the revenue as an owner and Anglo gets a share for owning and operating. Iamgold is a cash cow, and because it`s completely unhedged, it`s a very, very attractive way to benefit from a rising gold-price environment.

Q: What don`t you like?
A: I don`t recommend any Australian stocks now, simply because their hedge positions are underwater. Newcrest Mining is one pan; its hedge book is negative US$440 million. But my top pan is Australia`s Sons of Gwalia. It has a US$340 million unrealized loss on its hedge book and is relatively more hedged than Newcrest, and its properties aren`t as good.

Q: Are they at risk of bankruptcy?
A: There are two points of view. Some will argue that they don`t risk bankruptcy because eventually they`re going to produce the gold. In theory, that`s true, as long as there`s no operating problems. But they may receive pressure from the banks because the banks don`t want the companies to carry these huge unrealized loss positions in the event of a disruption in the production of the gold. In 1999, when gold rallied, we saw two mining companies -- Ashanti and Cambior -- go bankrupt in everything but name. Their hedged positions killed them. They were selling aggressively on the way down and got caught when gold rose to more than $300 an ounce. Now the question is: Who will be caught at $350 an ounce?

Q: Thanks, James.

[peter.wedemeier1]

GLG is a "pick" in BARRON`s Interview vom 09.09.

Long-Term Sentiment: Strong Buy

[peter.wedemeier1]

David Marantette Recommends the Following Stocks: GLG, GG and GFI
Wednesday September 11, 6:00 am ET


CHICAGO, Sept. 11 /PRNewswire/ -- Unless you plan on staking a claim in Alaska, the gold sector may be a viable alternative. But it can be a complex segment to explore, so David Marantette is here to help clear up confusion and give gold investors the best chance to discover profit. http://www.featuredexpert2.zacks.com .

Here are the highlights from the Featured Expert column:

Even if we are in a bear market in the stock market or in gold stocks, there are moves to the upside. Some of these bounces up, inside the bear, can be very profitable if executed correctly. At the end of July, the weekly cycles and the daily cycles had all converged into a sharp price bottom from the May top, which Marantette called, almost to the hour.

Notice the daily readings for these companies are all above 90, in the sell area.

Glamis Gold, Ltd. (NYSE: GLG) explores, develops and extracts precious metals in several locations, but especially in California, Nevada, Honduras, San Luis Potosi in Mexico, Guatemala, Panama and El Salvador. Its operations are conducted through its wholly owned subsidiary, Glamis Gold, Inc. This week`s low was 9.21.

Goldcorp, Inc. (NYSE: GG) is a gold producer that owns one of the highest- grade gold deposits in the world. There`s an Entropy rise on GG. Any move below this week`s price lows will be another signal to get out. This week`s low was 10.34.

Gold Fields, Ltd. (NYSE: GFI) is an independent precious metals company that conducts operations through exploration and mining. It produces about 4.7 million ounces of gold annually. There`s an Entropy rise on GFI. The weekly readings are all above 50. This week`s low was 11.85.

[peter.wedemeier1]

Unterstützung bei $10. Bei $10 sollte GLG eine starke Unterstützung finden. GLG befindet sich in einem klaren Aufwärtstrend. Unterstützung bieten die EMA 13-day, 50-day und 200-day.



"The smart money today is indeed gambling on the ongoing bust dragging US equity indices much, much lower. At current earnings the S&P 500 will bottom under 500, the Dow 30 under 5000, and the NASDAQ under 400. Yet, just as in history, this ongoing bust process will be slow and painful over many more months or years, exquisitely flaying the last pound of bloody flesh from all the hopeless bulls who still desperately believe the Tech Bubble of 2000 will return in their lifetimes.

Don’t get caught up in the popular crash hype that flies in the face of market history and probabilities. The markets are heading lower before this is all over, but the exceedingly sadistic and vicious Great Bear is in no hurry to end his hellish orgy of carnage."


Adam Hamilton, CPA, September 20, 2002

[peter.wedemeier1]

Long Position geschlossen.

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[peter.wedemeier1]

Long Position eröffnet.

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[peter.wedemeier1]

Press Release Source: Glamis Gold Ltd.


Glamis Updates Development and Exploration Projects
All Amounts in United States Dollars
Sunday September 29, 9:21 pm ET


RENO, Nevada--(BUSINESS WIRE)--Sept. 29, 2002--Glamis Gold Ltd. (NYSE:GLG - News; TSX:GLG - News) is pleased to announce significant progress in advancing development of its El Sauzal and Marigold expansion programs in Chihuahua State, Mexico and Nevada, respectively. Glamis also reports positive developments at its advanced Marlin and Cerro Blanco exploration properties in Guatemala.
Kevin McArthur, President and Chief Executive Officer of the Company stated, "Our long-term strategic goal is to produce 500,000 ounces of gold annually at a total cash cost of less than $150 per ounce. With the progress we have made at El Sauzal and Marigold together with very promising exploration results at both Marlin and Cerro Blanco, we are confident that this goal can be achieved sooner than originally expected."

[peter.wedemeier1]

[peter.wedemeier1]

Gold Stock Intermediate Downtrend is Over - The bottom is in!

By: Clive Maund, Diploma Technical Analysis




The technical indications are that the intermediate downtrend in gold and gold stocks has run its course. Look first at the Gold December contract chart, shown above, where we see the price contacting the lower trendline of a clear uptrend channel, a classic buy spot. Look next at the chart for the HUI goldBUGS index, shown below, where we see the index putting in a reversal day last Thursday bang on the 200-day moving average, which is, incidentally, where the July rout ended. This was followed by an impressive rise by this index and many gold stocks on Friday – despite the general stockmarket roaring ahead! Many gold stocks staged impressive moves on Friday and now look well placed for substantial advances in the coming weeks.



Gold December, last $317.20 on 12 Oct 2002
By Clive Maund, Diploma Technical Analysis, no responsibility can be accepted for losses that may result as a consequence of trading on the basis of this analysis.
Kaufbeuren, Germany, 12 Oct 2002

[peter.wedemeier1]

Der Goldspot Preis sollte nun sehr stark steigen können, nachdem die Unterstützung vom Haupttrend bei $308,- gestern gehalten hat. Und mit dem steigenden Goldpreis sollten auch die Minen steigen. Beobachtet nun, wie der breite Markt DAX, DOW JONES, Nasdaq und Nemax sich nun aufmacht um neue historische und "dramatische" Tiefs zu setzen. Nachdem alle wie schwachsinnige (Konjunktur und Weltwirtschaft geht nach unten und die Aktien nach oben, LOL! Aktien gekauft und damit eine Sucker Rallye hingelegt haben. Neue "dramtische" und historische Tiefs wird es alleine schon aus Enttäuschung geben und das nun noch mehr Anleger endgültig die Nase voll vom Aktienmarkt haben. LOL.

peter.wedemeier1

[peter.wedemeier1]

"We got real close to a Bearish Engulfing Candle Stick or Key Reversal Day, but stopped just short of that. It opened above the previous day and closed at the low of the previous day. What a war of specs Glamis was today. The MACD failed on us and momentum gave up the ghost. Stops should be ½ point below the recent low."

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.

[NfDrag]

9:19am 11/11/02 [GLG] GLAMIS GOLD Q3 REVENUE AT $19.82 MLN VS $15.92 MLN
9:19am 11/11/02 [GLG] GLAMIS GOLD Q3 EARNS IN LINE WITH FIRST CALL CONSENSUS
9:19am 11/11/02 [GLG] GLAMIS GOLD: Q3 PRODUCTION UP 3% VS YR AGO
9:18am 11/11/02 [GLG] GLAMIS GOLD Q3 EARNS AT 2 CENTS VS YR-AGO 1 CENT

[peter.wedemeier1]

Dow Jones Business News
Glamis Gold 3rd Quarter EPS 2 Cents
Monday November 11, 10:11 am ET

http://biz.yahoo.com/djus/021111/1011000402_1.html

[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]

Aden recommends buying gold coins and gold stocks. Among gold stocks, she prefers the more established companies that don`t do much of gold hedging. Hedging locks in the future price of gold, so a mining company`s profits won`t rise as much as the metal.

Her picks meeting this criteria are Glamis Gold (GLG) -- which was the ninth best performer in the New York Stock Exchange last year -- Gold Fields (GFI), Newmont Mining (NEM), Kinross Gold (KGC) and AngloGold (AU).

HE STOCKPICKERS
Aden sisters favor gold stocks, coins
Newsletter picks are Glamis, Newmont, Kinross
By Deborah Adamson, CBS.MarketWatch.com
Last Update: 12:02 AM ET Feb. 28, 2003



SAN JOSE, Costa Rica -- Gold has played a major part in the lives of the Costa Rica-based Aden sisters.

http://www.quicken.com/investments/news/cbsmw/?p=GLG&ntlink=…

[peter.wedemeier1]

GLG (+ 3.65% bei $10.23) hat nun die Führung von HL (+ 3.30% bei $3.13) übernommen. Beide führen vor GFI (+ 2.79% bei $10.69).

Go Gold und Silver Go!

[peter.wedemeier1]

GLG stock produces 250,000/oz in gold each year

Its cash cost to mine gold is 160/oz.

Glamis Gold
QUARTERLY CASH FLOW STATEMENT (Indirect Method)
In Millions of U.S. Dollars
(except for per share items)
12 Months Ending
12/31/02

Net Income/Starting Line 13.7
Depreciation/Depletion 17.9
Deferred Taxes 0.8
Non-Cash Items 1.5
Changes in Working Capital (5.6)
Cash from Operating Activities 28.3
Capital Expenditures (16.2)
Other Investing Cash Flow Items (16.3)
Cash from Investing Activities (32.5)

Total Free Cash Flow in 2002 (4.2)

[peter.wedemeier1]

Nun hat GLG (+ 3.04% bei $10.17) die Führung wieder zurück erobert. GLG führt nun vor NEM (+ 2.55% bei $25.75) und AEM
(+ 2.44% bei $12.60).

Go Gold Go!

[peter.wedemeier1]

United said it has already met with a representative of its debtor-in-possession lenders to ask for a relaxation of the loan covenants. Four financial institutions have put up $1.5 billion in financing for United -- J.P. Morgan Chase & Co Inc. (NYSE:JPM), Citigroup Inc. (NYSE:C), CIT Group Inc. (NYSE:CIT) and Bank One Corp. (NYSE:ONE).

Reuters
United Air: Liquidation is `Possibility`
Tuesday March 18, 2:28 pm ET
By Kathy Fieweger


CHICAGO (Reuters) -

http://biz.yahoo.com/rb/030318/airlines_united_7.html

[peter.wedemeier1]

GLG (+ 1.63% bei $9.99) hat soeben im US-Handel die Führung von PAL (+ 1.29% bei $2.35) übernommen. Beide führen nun vor VGZ (+ 1.27% bei $3.20).

Go Gold und Palladium Go.

[peter.wedemeier1]

JPM on the edge of the abyss!
J.P. Morgan Chase (NYSE: JPM) has followed through on its earnings warning, reporting a loss of $387 million in its fourth quarter, largely due to charges related to its involvement in the Enron debacle (as well as other legal expenses). The company isn`t on a great run lately, having lost $332 million a year ago on bad loans and Argentinean economic woes. In the latest quarter, Morgan`s investment-banking business fell 30%, while trading income jumped 23%.

[peter.wedemeier1]

From Larry Edelson
Safe Money Report.

GLG Boosted its gold production in the
fourth quarter of 2002 with just over a third of the net incomea attributable to that one quarter.

“Expect more great news from this company”.

[peter.wedemeier1]

sehr sehr WICHTIG!

GOLD WILL WIN "EURO vs DOLLAR" WAR

By Alex Wallenwein
April 9, 2003

http://www.gooff.com/NM/templates/Syndication_BankIndex.asp?…

[peter.wedemeier1]

GLG (+ 3.66% bei $11.04) hat soeben im US-Handel die Führung von GSS übernommen. GLG führt nun vor BVN (+ 2.81% bei $27.79) und RGLD (+ 2.68% bei $17.62).

Go Gold Go!

[peter.wedemeier1]

GLG (+ 3.76% bei $11.05)hat soeben im US-Handel die Führung von VGZ (+ 3.49% bei $3.56)zurück erobert. Beide führen nun vor RGLD (+ 3.26% bei $17.72).

Go Gold Go!

[peter.wedemeier1]

GLG (+ 4.98% bei $11.18) hat soeben im US-Handel die Führung von RGLD (+ 4.37% bei $17.91) zurück erobert. Beide führen nun vor VGZ (+ 4.07% bei $3.58).

Go Gold Go!

[peter.wedemeier1]

GLG (+ 3.10% bei $10.98) hat soeben die Führung im US-Handel von SWC übernommen. GLG führt nun vor RGLD (+ 2.68% bei $17.62) und PAL (+ 2.61% bei $2.36).

Go Gold, Platin und Palladium Go!

[peter.wedemeier1]

GLG (+ 3.38% bei $11.01) hat soeben im US-Handel die Führung von SWC (+ 3.03% bei $2.38) zurück erobert. Beide führen nun vor RGLD (+ 2.51% bei $17.59).

Go Gold, Platin und Palladium Go!

[peter.wedemeier1]

GLG (+ 2.66% bei $11.19) hat soeben im US-Handel die Führung von KRY übernommen. GLG führt nun vor MDG (+ 2.50% bei $10.65) und KRY (+ 2.27% bei $0.900).

Go Gold Go!

[peter.wedemeier1]

GLG (+ 2.94% bei $11.22) hat soeben im US-Handel die Führung von KRY zurück erobert. GLG führt nun vor MDG (+ 2.79% bei $10.68) und GG (+ 2.53% bei $10.95).

Go Gold Go!

[peter.wedemeier1]

GLG (+ 3.49% bei $11.28) hat soeben im US-Handel die Führung von GSS (+ 3.47% bei $1.79) zurück erobert. Beide führen nun vor KRY (+ 3.41% bei $0.910).

Go Gold Go!

[peter.wedemeier1]

GLG (+ 3.67% bei $11.30) hat soeben im US-Handel die Führung von GSS übernommen. GLG führt nun vor GG (+ 3.00% bei $11.00) und MDG (+ 2.69% bei $10.67).

Go Gold Go!

[peter.wedemeier1]

GLG (+ 4.86% bei $11.43) hat soeben im US-Handel die Führung von GG übernommen. GLG führt nun vor GSS (+ 4.62% bei $1.81) und GG (+ 3.93% bei $11.10).

Go Gold Go!

[peter.wedemeier1]

GLG (+ 4.77% bei $11.42) hat soeben im US-Handel die Führung von GSS (+ 4.05% bei $1.80) zurück erobert. Beide führen nun vor CDE (+ 3.88% bei $1.34).

Go Gold und Silber Go!

[peter.wedemeier1]

GLG (+ 4.79% bei $11.60) hat soeben im US-Handel die Führung von SWC (+ 4.44% bei $3.29) übernommen. Beide führen nun vor PAAS (+ 4.37% bei $6.84).

Go Gold, Platin, Palladium und Silber Go!

[peter.wedemeier1]

GLG (+ 3.22% bei $11.54) hat soeben im US-Handel die Führung von RANGY übernommen. GLG führt nun vor RGLD (+ 2.85% bei $20.18) und RANGY (+ 2.57% bei $12.34).

Go Gold go GATA go GLG!

[peter.wedemeier1]

GLG (+ 2.86% bei $11.50) hat soeben im US-Handel die Führung von PDG (+ 2.33% bei $11.42) zurück erobert. Beide führen nun vor ASA (+ 2.25% bei $36.80).

Go Gold go GATA go GLG!

[peter.wedemeier1]

GLG (+ 2.65% bei $11.24) hat soeben im US-Handel die Führung von RIC (+ 2.43% bei $2.95) übernommen. Beide führen nun vor GSS (+ 1.98% bei $2.57).

Go Gold go GATA go GLG!

[peter.wedemeier1]

Technicals and fundamentals are glittering brightly

Mary Anne & Pamela Aden
The Aden Sisters
June 25, 2003
Courtesy of www.adenforecast.com


GOOD TIME TO BUY

http://www.321gold.com/editorials/aden/aden062603.html

[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]

GLG (+ 1.67% bei $11.59) hat soeben im US-Handel die Führung von CBJ (+ 1.28% bei $1.58) übernommen. Beide führen nun vor NEM (+ 1.06% bei $33.35).

Go Gold go GATA go GLG!

[peter.wedemeier1]

GLG (+ 1.49% bei $11.57) hat soeben im US-Handel die Führung von GSS (+ 1.43% bei $2.83) übernommen. Beide führen nun vor RGLD (+ 1.37% bei $20.67).

Go Gold go GATA go GLG!

[peter.wedemeier1]

GLG (+ 1.93% bei $11.62) hat soeben im US-Handel die Führung von DROOY zurück erobert. GLG führt nun vor CBJ (+ 1.92% bei $1.59) und DROOY (+ 1.75% bei $2.33).

Go Gold go GATA go GLG!

[Goldiger]

@Peter Wedemeier
Es mag Dir ja Spaß machen, aber irgendwie nervt mich das schon, daß Du diese sinnlosen Postings reinstellst. Ich glaube daß es nicht so interessant ist, welche Mine in den letzten 10 Minuten die Führung übernommen hat. Es bringt einfach nichts. Es es nicht informativ und kostet nicht nur Dir, sondern auch uns nur Zeit, das zu lesen. Danke

[peter.wedemeier1]

!

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