Oddball

You've got to give this one a bit of time. Pat Metheny - Au Lait Forget the world for a moment.

GOLD RESOURCE CORPORATION APPLIES FOR NYSE: AMEX LISTING DENVER – July 8, 2010 – Gold Resource Corporation (GRC) (OTCBB: GORO, FRANKFURT: GIH) announced today it has been approved to apply for the listing of its common stock on the NYSE: AMEX. Gold Resource Corporation is a low cost gold producer with operations in southern Mexico. Gold Resource Corporation announced Commercial Production July 1, 2010 from its El Aguila Project’s high-grade open pit deposit. The Company targets 70,000 ounces of gold over the next 12 months at approximately $200 cash cost per ounce from its El Aguila mill’s flotation circuit. The Company’s aggressive growth curve targets production ramp up by year 3 to 200,000 ounces of gold equivalent (gold and silver) at $0 cash cost per ounce using industry standard base metal byproduct credits. Gold Resource Corporation’s President, Mr. Jason Reid, stated, “We view a possible NYSE: AMEX listing as the next logical progression for Gold Resource Corporation as a gold producer. A listing would provide greater market exposure and increased liquidity for investors.” Mr. Reid continued, “Gold Resource Corporation’s aggressive growth curve, focus on adding low-cost ounces and the potential to distribute a meaningful dividend position the Company as a unique investment in the gold sector. This potential exchange listing should open Gold Resource Corporation to a new segment of gold investors.” Here's also the latest presentation for those not familiar. Gold Resource Corp Presentation I don't know why this seems to attract so little interest on the UK boards. As someone said yesterday - must still be very early days!

Gold Resource Corp Announces Commercial Production http://news.goldseek.com/FeaturedPR/1278014122.php DENVER – July 1, 2010 – Gold Resource Corporation (GRC) (US-OTCBB: GORO, FRANKFURT: GIH) announces Commercial Production as of July 1, 2010 from its 100% owned El Aguila high-grade gold and silver project. The El Aguila Project is located in the southern state of Oaxaca, Mexico. The Company also announces effective July 1, 2010, the promotion of Mr. Jason Reid to Gold Resource Corporation’s President. Gold Resource Corporation’s CEO, William W. Reid stated, “It has been a successful team effort with a lot of hard work from our staff and subcontractors which has allowed us to declare Commercial Production three years and three months after making the decision to put the El Aguila Project into production. Support from our local Totolapam Ejido, including support from the three towns of Totalapam, San Jose de Gracia and Las Margaritas, and support from our strategic alliance partner, Hochschild Mining plc were also instrumental to our success.” Gold Resource Corporation made its production decision April of 2007, at that time, having only 3 to 4 years of projected mine life. The production decision was based on the excellent economics at El Aguila that indicated an estimated capital payback for the Project of less than one year. Today, the Company estimates the El Aguila Project’s mine life at a minimum of 9 years, predominantly due to its Arista deposit discovered subsequent to its 2007 production decision. Gold Resource Corporation’s management is confident that over time the Project’s mine life could double or more by expansion of its known deposits alone and is encouraged by its exploration program’s recent discoveries including a new high-grade gold and silver area (see Company’s June 10, 2010 press release). Mr. William Reid continued, “We have been consistent in our commitment to our strategy; seek low-cost, high margin projects, place such projects into production at the earliest point in time and keep a disciplined capital structure. This commitment has led to creating significant value to the owners of the Company, its shareholders.” Gold Resource Corporation’s Board of Directors voted unanimously to promote Mr. Jason Reid to President of the Company effective July 1, 2010. Mr. Jason Reid previously served as GRC’s Vice President of Corporate Development. William W. Reid steps down as President while remaining CEO of the Company. Mr. William Reid stated, “It is with personal pride that I announce the Board’s decision to promote Mr. Jason Reid to President of the Company. Jason has been with Gold Resource Corporation since it was a private company over 4 years ago and has been instrumental in its success. As a Company that demands a great deal of effort at the corporate level from just a few individuals, Jason has handled and assisted in multiple aspects of the Company as VP of Corporate Development. These included the execution of the Company’s growth strategy, self underwritten IPO, decisions on operations, activities relative to equity funding, retail and institutional marketing and keeping shareholders informed on the Company’s progress. We are confident Jason will take the Company into the next decade and beyond preserving our legacy and building on our unique approach to the business of mining.” Gold Resource Corporation’s President, Mr. Jason Reid, stated, “We are very pleased to report Commercial Production which marks a major milestone for the Company and its shareholders as we emerge as a low cost gold producer. This milestone is a credit to all involved and particularly our Mexican subsidiary’s dedicated staff. I am honored to be the new President of Gold Resource Corporation and honored to continue working with our competent, professional and hard working group of people. I am not only motivated, but committed to continue execution of the Company’s business strategy for the benefit of its shareholders.” Mr. Jason Reid continued, “Many challenging aspects of the mining business, including deposit discovery, permitting, engineering, funding, construction, establishing a team of professionals and executing Commercial Production are now behind us. We have met these real and complex challenges but our work continues. We now enter a new phase focusing on our aggressive growth curve targeting to triple annual production to 200,000 precious metal gold equivalent ounces three years from today, at zero cash cost using industry standard base metal byproduct credits.” “With cash flow from successful operations we plan to accelerate our aggressive exploration program, target additional low-cost gold and silver ounces and remain focused on potential dividend distributions.” stated Mr. Jason Reid.

Silver symmetry Silver Bollinger bands

I can't remember seeing this posted. Apologies if it has. This is a very interesting article by Tim Wood and reinforces my own outlook. I know, I know, I'm aware of it. http://www.gold-eagle.com/editorials_08/wood073109.html Are we heading for another crash. Well looky here http://www.canadianinsider.com/coReport/al....php?ticker=tnx. Looks like the king of the gold bugs is "barfing" his own shares. Not conclusive of anything I know but telling nevertheless.

How low? I'd say the $10 mark before we get a decent bounce - then down again.

This time last year I had a very large physical silver position. This with hindsight now seems outrageous. I was guilty of reading too much Butler and Hommel, y’know “Buy with both hands” and “All in.” I remember reading Hoye at the time and thinking humph…. no way. Well as it turned out Hoye nailed it and I lost out big time – on paper anyway. Luckily I was eventually bailed out by sterling collapsing, but a missed opportunity all the same. On the positive side this gave me the kick up the rear that I needed to take a more rational approach and start sorting the wheat from the chaff, the probable from the wishful. I like you rate Bob Hoye and his research highly. His analysis into previous great busts gives a good indication as to the powerful currents flowing in the markets at this time. This won’t play out exactly as we’ve seen; in fact due to the extremity of the situation and the vast amounts of stimulus applied the declines and rallies may be more volatile. Just to recap – the previous administrations 1873 (non-gold standard) and 1929 (gold standard) chucked the kitchen sink at the bust, stimulus wise and failed to avert deflation. The 1929-32 decline was dotted with six bear market rallies and silver followed the markets down. Silver only performed well during the subsequent recovery. Throw in there the present demand destruction (Japans dramatic fall in exports) and this is enough for me to stand aside of the long silver market unless we get an extreme buying opportunity i.e. G/S ratio +100:1 Don’t get me wrong, and before some of the more hardened gold/silver bugs start reaching for the flamethrower I’m uber bullish on the PM sector. I just don’t think short/medium term silver will do too well. Longer term I’d have thought silver will be somewhere in the £60 –£ 80 and oz region – just a guess.

I'd be surprised if it went that low on the ratio at this point - but you never know. Sahara's latest Like I said we could have to complete wave-5 down in $USD yet, which implies further rise in Silver, it is sometimes the case that we slide up the underside of a broken trend-line. But these mrkts can turn on a sixpence and anything could result, if we take a look at the weekly chart we can see the H&S quite clearly, yet no-one has mentioned it to me as yet, which could imply it has more value, as opposed to the H&S on the Dow recently where everyone and his pooch were trading it the wrong way... http://stockcharts.com/h-sc/ui?s=$SIL...Num=4&cn=70

I'm not a far an opposite position - already mainly in USD with a few silver shorts and the odd PM junior good story with a core physical gold holding. Waiting for a GS ratio 0f 100:1 before i change to silver.

You're not wrong- sitting tight though.

It's not clear as yet - watching this like a hawk, although i won't be covering my shorts until we break $1056 on gold.

Sahara on the ADVFN really useful gold thread is looking at the same thing. http://stockcharts.com/h-sc/ui?s=$SIL...1&listNum=4 So breakout or H & S confirmation. Looks like we are going to find out soon. My moneys on down.

Anyone noticed the head and shoulders formation on the silver chart. http://news.silverseek.com/SilverSeek/1249957432.php The main thing is that it looks like the top of Wave 2 of C was in on Thursday at $15.03 so traders should be looking for a sharp correction here in Wave 3 down.

This guy really doesn't like Seabridge. Seabridge Gold is a stock we first met in late 2008. Unfortunately our view from that time has not changed, and, if anything has hardened. Nice company but pity about its grand plan. Essentially Seabridge hopes that one of the majors (which means less than a handful of likely parties but in reality two names) will acquire the company for $1bn plus and then shall expend over $3.5 bn in a buildout process lasting almost a decade to bring its project to fruition. The problem with this concept is that there are no half measures. There is no scaleability. There is no “lets do it on the cheap while waiting for Moneybags to arrive”. There is nothing doing until one of the potential parties breaks ranks and puts money on the table. Until that time it is just a one-way flow of money going out on more reserve definition and ever more complex mine plans (as if an underground conveyor belt through a mountain range for 20kms isn’t complex enough). With a current market cap of US$1.12bn this stock looks expensive even compared to stocks we don’t like such as Gammon Gold. Frankly Seabridge should use its overvalued stock to bid for other companies. Is it no surprise that the Friedberg/Fronk crew are targeting Paramount Gold as their “real” play while leaving Seabridge sitting there like the fat girl at the dance? Model Mining Portfolio: Gold Mine News

Had the same problem if not worst. I couldn't log into my bank account, ebay or forums, it drove me mad. After hours of head scratching it turned out to be the MTU setting in my wireless gateway. I believe it can cause all kinds of compatibility problems. Access gateway from your browser url - 192.168.1.1 - default for most gateways. If its not been changed default user name - admin - default password - admin. Enter setup and go to WAN setting. MTU option default setting 0 is 1500 bytes - change to 1492 bytes then submit or apply. exit and restart browser.

This is by the same guy. $10,000 GOLD & $700 SILVER But it's not coming anytime soon. 2034

"Look at it this way, at least you guys have had the balls to make an investment decision." Strangely I do fine it comforting to know that the noose I am swinging from was made by my own hand. edit - spelling

It's a sod ain't it? You're not wrong Mr P. So far today's price / ratio action further confirms Bob Hoye's outlook. Looking at the period 1990 GS ratio that he's talking about, the ratio widened from about 70 to 100 over a six month period, in not far off a straight line!!! However I wouldn't say the PMs where in a bull market at the time. Maybe 73-75 would be a better comparison - the GS ratio rising and falling to it's start point over a two year period. My intention is to hold PMs for another 3-5 years but at some point I'm going to lighten up on the silver. All the same I'm not going to panic and maybe it's a mistake but I ain't selling weakness. Talk about heaven and hell - what was it Kipling said about Triumph and Disaster!

Hello Mr Pipples It sounds as though I am in a similar position to you. My largest holding is in silver with GM. The Bob Hoye view of the GS ratio going to 1:100 I must say has me worried, 1:70 is bad enough. If you missed it, it’s here; Bob Hoye Radio Interview When I’ve checked against the long term silver price / GS ratio chart it looks as though he is right – the GS ratio increases into and after a financial crisis. Don’t know why I didn’t spot it before! Thinking about it, it would make sense. Gold is almost wholly a monetary metal, with little utility other than to preserve wealth. Silver on the other hand has largely become (at the moment) an industrial commodity, more directly affected by a slowdown in consumption. So in the situation that now seems apparent – a huge financial shock, you would expect (ignoring the speculative fog of Comex shorts, imminent defaults, wholesale shortages, war with Iran, emerging market consumption offset, yada, yada, yada) silver to under perform gold at least initially. Question is, if the above is true –how do I make the best out of this situation. Admittedly I have limited experience but I can see two choices; 1. Hold tight and await second tier safe haven buying to kick in i.e. when gold becomes too expensive / unavailable, or cross my fingers for an event to appear out of the speculative fog. Hmmmmm….. 2. The decline in the price of silver so far as I can tell looking over the charts back to the sixties is unprecedented; you would expect a rebound to some degree. Assuming a rebound from now until the end of September – sell into near term strength and await an entry point after seasonal declines and the US elections. Bob Hoye’s view. I would be very grateful for members input as to a better strategy. Odd

Too sophisticated for me at the moment Bubb. I'm still learning to walk. My PM holdings are mainly in allocated gold and silver with only a relatively small portion in gold mining shares with no leverage. My outlook overall is buy and hold with the odd trade round opportune points. So far I'm pleased with the returns - entry point on gold $492. Considering this strategy I have some doubt whether at this point it is best for me to be in gold mining shares, if history rhymes this chart posted on Jim Sinclair site by CIGA Eric says not. Homestake mining I believe was later absorbed by Barrick. And the comments at the time; Jim Sinclair’s Commentary Posted above is Homestake Mining's chart from 1970 to 1981 demonstrating the better return in gold shares then in gold. All the gold share stockholders, both major and junior, were in the same debilitated mode you are now. As result they bailed just as the rocket ship took off, giving better returns than gold. I am sad to say it, but it looks like a perfect replay of history coming up. Hi Jim, Gold or Gold Stocks? The answer to that depends largely on emotion. In the end the answer is gold stocks provide better returns, assuming all else is equal. Regards, Eric Love the comment by Eric " The answer to that depends largely on emotion." I believe it was the Volker Fed raising interest rates bringing back positive real interest rates that killed golds parabolic run. It's not hard from there to work out when to be holding bullion or changing to shares. What d'ya reckon?

ermmmmmm..... saywhat! I've read the post twice. blink, blink, nothing - sorry. Ah the last bit "why did you buy the thing in the first place ha-ha" - poor judgment and bad timing. I don't expect to be 100% successful.

Typical - I held that stock for 12 months and eventually got cheesed off and sold last week for a small loss. Bumped up my holding in GG though so could be worse. BTW hello all and thanks for all your input it's much appreciated.

Exciting stuff from Jimmy Sinclair. http://www.jsmineset.com/ Posted On: Tuesday, July 01, 2008, 11:43:00 AM EST It Is Now! Author: Jim Sinclair Dear Friends, There are two subjects of extreme importance today. I sent you an email months ago saying, “This Is It.” 1. I am now telling you, “It Is Now.” Gold is preparing for an assault not on $1000, but for a brief penetration of $1200. Violent chopping will occur, then off it goes to $1650. This violent chop we have been living in here and now will resolve itself very soon and the take will be seen by history as having occurred in this last formation HERE AND NOW. 2. Where your juniors are concerned please give equal attention to the fundamentals before you make any decision. When beaten down, as they have been, think about gold at $1200 and $1650 coming sooner than anyone expected. Call the company and respectfully demand to speak to management, not an IR officer. If management is in the country but will not speak to you, put that in the debit column. Allow time for a call back as many other investor may be doing the same thing. The questions are simple. Property, finances and costs are the subjects you approach. As an example, a high cost mining company in Ghana just experienced an increased production cost per ounce of gold as a byproduct of increased electrical costs in the country. Before you push the panic button the question to the company is “What are your total costs per ounce, not cash cost?” Once you have that answer think about gold at $1650. I will discuss the “why” of all this on www.JSMineset.com this evening. Respectfully yours, Jim