Pixel8r

It looks very interesting, especially with Jim Sinclair's comments about the "consolidator" starting to take action. Hopefully we should start seeing a lot of these juniors being bought up, like Pan African recently. Here's hoping.

Just been listening to Shayne McGuire, the author of "Buy Gold Now" on Jim Puplava's financial sense newshour. Click this link to have a listen - Financial Sense Newshour - The second hour is the interview with Shayne McGuire.

Does anyone have any idea to who this western "consolidator" is?

It isn't an IOU, the bullion is kept at the vault with your name on it. If they got into problems you could claim your bullion from the vault. On your second point they restrict the amount you can sell on a fixed (locked) price. This amount is listed as 2000 grams of Gold or 1500 oz of silver.

Hi, I don't believe that BV and GM are paper gold. You can withdraw your gold/silver and the amount of holdings is regularly audited. There are things in place for if the company goes bust. The gold and silver held is actually held in your name at the vaults, not the companies.

I got a reply from Roland Phelps, which is posted below. I have also noticed that he recently took out a share option at 10p. Hi Mark We wanted to squeeze in as much drilling in as we could. As you know that wasn’t complete until 10th December 2007 and preparatory work was limited. After that, the independent engineers have had delays, apparently due to key people not being available and it is most frustrating. We have kept the market informed regarding delivery, though no doubt we could do better but we still have not received the finalised version. As you will have seen from disclosures, I continue to support this project and that support includes providing some financial assistance. I would not do this unless I was confident that the team was building a sound business. Regards Roland

Does anyone have any reason this share has been beaten up so much? The only reason I can see is the delay in the NI 43-101. So I have bought a few and in contact with them to find out what the hold up is, will report back their comments.

I was also thinking that the reason we had the big sell off was due to the Bear Sterns rescue. I read somewhere that they had a big holding of gold and a large dollar short, both of which have been sold to raise cash. Hence the drop in the gold price and the gain in the dollar. Was wondering why the dollar would be gaining strength after the FED had cut rates by 3/4%. Have just found the article - Junior Mining Companies

What do people think, are they being to cautious? Goldseek - Gold Market Update Silverseek - Silver Market Update

Glad to be having such a pleasant informative discussion with you. I have emailed Goldmoney about this and will get back to you with their comments. There is no reason to become offensive in your comments. I am not an idiot, I have been running a well established business for twenty years. It is just that I don't believe that things will get as bad as you think.

The way you write, makes me think you are not very old and probably don't have very much to store. I feel very safe with the system GoldMoney has put in operation. Would much rather have security, insurance and instant sale at spot ability.

You are saying that VIA MAT vaults could go bust and keep my gold. Wow the whole world is going to come to the end, mad max here we come!

The CAP verification process on GoldMoney should stop them being used for money laundering, it is more stringent than opening a bank account. Even if the company has government attention, your gold is in your name at the vault and it is insured. What happened in the E-Gold case. Did customers end up losing their gold?

This is incorrect. Your gold is held in your name in an insured VIA MAT vault. I can not think off a place I'd like it more, cheap storage and you can sell at the spot price instantly. Better than burying it in your garden. I agree that ETFs could be dodgy, but believe GoldMoney & BullionVault are different. You can even arrange to withdraw your gold in LBMA bars.

All goldmoney purchases are covered by a guarantee and a report is produced every quarter of all gold & silver held at each vault. This includes a complete bar list with serial numbers. http://goldmoney.com/en/report.html Absolute Ownership You, not GoldMoney, are the absolute owner of your gold and silver. GoldMoney stores it securely on your behalf. Title to the gold and silver bars in allocated storage at the vaults at all times vests only in the various GoldMoney users. When you purchase precious metals through your GoldMoney account, you actually hold and own the metal in your name. All of the gold and silver bullion owned by our customers is stored free and clear from any creditors' claims against GoldMoney or the operator of the vaults. When you purchase precious metals through GoldMoney, the gold and silver bullion is stored securely at the VIA MAT vaults located near London and Zurich. VIA MAT International is part of Mat Securitas Express AG, of Switzerland, one of Europe's largest and oldest armoured transport and storage companies.

Interesting comment on a blog - Why Now?

Goldmoney also only charge you commission when you buy, when you sell you get spot rate. Also on Goldmoney you can become a gold money member, which reduces your commission, when you get to having 2000g of gold or equivalent in silver. I just bought 6K and paid a 2.69% commission on gold.

Goldfinger, Dominic Frisby is Frizzers who posts on here.

What makes you say there is a surplus of silver? Check out this graph.

Below is from Peter Schiff/Euro Pacific newsletter - The Global Investor 13/3/08. It appears he is now recommending Uranium One (UUU.TO) to his clients.

I have noticed the same, especially when America opens. So I don't think it your net connection.

Here's a good interactive Gold Price Chart web site http://www.usagold.com/live.html

Thanks for your great reply and that great chart, I hadn't seen that one before. Maybe will keep more silver after seeing that one. Didn't realise that the ratio had been 17x as recently as 1968.

The exchange fee is 2%. When I started buying silver it was 56 to 1, I will exchange at around 35 to 1 which easily makes up for the 2% commission charge. Currently I am 75/25 silver to gold will change to maybe 50/50, Maybe a bit more till the ratio changes back.

Hi Goldfinger, I am interested to know what you think is going to happen with silver, when the gold/silver ratio gets to 35. I have a larger amount of silver in goldmoney than gold and plan on changing some to gold when the ratio hits around 35-40. Figured it was a good way to get more gold for my money, but am starting to wonder if continuing to hold might be a better idea. Glad the HPC crew has found a new amicable home. PiXeL8r...