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Gold and silver assets are practically being given away -- want to check some out?
5:41p ET Sunday, October 4, 2015
Dear Friend of GATA and Gold:
For more evidence that the gold and silver mining sector is priced for extinction, priced as if mere paper promises of metal will substitute for the real thing until the end of time, watch the 16-minute interview done recently by Tommy Humphreys of CEO.CA with Sabina Gold & Silver CEO Bruce McLeod posted here:
http://ceo.ca/2015/10/02/sabina-gold-silver-back-river-bruce-mcleod-ceo/
The company, whose big project is in the Nunavut province of Canada, was valued at $1 billion a few years ago. Now Sabina's market capitalization is a mere $75 million. McLeod notes that Sabina has established gold reserves of more than 5 million ounces but they are being valued at a mere $6 per ounce, even as permitting is close to complete; that Sabina's project would be substantially profitable at current gold prices; and that the "project pipeline" in the gold and silver mining sector is drying up while major producing mines are being depleted.
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Of course the sector is full of anomalous stories like Sabina's, even if not many of them involve resources as large. But they all are subject to the "cyclicality" in the sector that Humphreys and McLeod discuss in the interview. That is, if the sector ever turns, the trip from the outhouse to the penthouse can be pretty fast.
All this is another reason why, if you think that the "financial repression" being undertaken by central banks won't succeed forever and that free-market pricing may return to the monetary metals eventually, you should consider attending the New Orleans Investment Conference at the end of this month. Along with GATA Chairman Bill Murphy and your secretary/treasurer, many experts in the gold and silver mining sector will be speaking, and many resource companies, including Sabina itself, will be exhibiting.
Watch the Sabina interview and then learn about the New Orleans conference here:
https://jeffersoncompanies.com/landing/gata
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, October 28-31, 2015
https://jeffersoncompanies.com/landing/gata
The Silver Summit and Resource Expo 2015
Park Central Hotel, San Francisco, California
Monday-Tuesday, November 23-24, 2015
http://cambridgehouse.com/event/50/the-silver-summit-and-resource-expo-2015
Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:
https://jeffersoncompanies.com/landing/2014-av-powell
Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:
http://www.goldrush21.com/order.html
Or by purchasing a colorful GATA T-shirt:
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
http://gata.org/node/wallstreetjournal
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