Gold futures back atop $1,000 as greenback weakens

September 30, 2009

Like the old saying goes, you can’t keep a good thing down, and from the looks of it – the “long gold” boys are starting to win the tug of war with the “short gold” gang. From everything we’ve been reading of late their appears to be an iceberg sized short position of gold/silver contracts out there in the market and as the swimming pool start to drain we could soon see just how exposed the market is to these naked “shorts”.

We expect that once the water line gets to a certain point this could get interesting quickly (just like when the winning side of a tug of war team gets the upper hand) and the short covering could create a bull market in gold (and silver) the likes have never been seen in modern times. From Peter Schiff’s stern warning video to Don Harrold yesterday, exposing the shaky position of the FDIC and US commercial/retail banks, this is starting to look like a real old fashioned shootout.  The important aspect being where investors are positioned when the bullets start flying.

We have been advocates for natural resource stocks for some time now and we urge everyone to take a good look at our precious metal clients:  Silver Dragon Resources (OTCBB: SDRG), Victoria Gold Corp, (TSX-V:VIT), ECU Silver Mining Inc. (TSX: ECU) & Great Panther Resources (TSX: GPR) as potentially ideal instruments to protect ones portfolio against inflationary forces and capitalize on what could soon become an even  stronger market for precious metals. Each of these mining groups have discovered potentially world class gold and/or silver deposits and represent what we believe to be some of the most well positioned and compelling junior mining names in the business – that should all do well in a static market for gold and silver and could be extraordinary stocks to own should precious metals take off on an extended bull rally, which many of the market prognisticators are calling out for. 

Now on to today’s article . . .

NEW YORK (MarketWatch) — Gold futures rose above $1,000 an ounce Wednesday, as the dollar declined after the release of upbeat economic data in the U.S., burnishing the appeal of the precious metal.

The U.S. economy shrank in the second quarter at a smaller pace than earlier forecasts, the Commerce Department reported Wednesday. Meanwhile, private-sector employers in September shed the fewest jobs since July 2008.

Gold for December delivery, the most actively traded contract, gained $7, or 0.7%, to $1,001.40 an ounce on the Comex division of the New York Mercantile Exchange. The contract earlier hit an intraday high at $1,006.40.

To view the complete article click here

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Biomoda Engages Renowned Researcher to Lead Longitudinal Component of Lung Cancer Study

September 30, 2009

In a news release out this morning, Biomoda, Inc. (OTCBB: BMOD) announced that they have engaged Dr. Thomas Bauer, a renowned researcher in the field of cancer diagnostics, to read the follow-up CT scans and other data on study participants as part of the longitudinal component of the research of the Company’s ongoing Phase II clinical trial for the early detection of lung cancer.

Dr. Bauer brings a wealth of experience to the Biomoda team with a long history in the medical/cancer diagnostic industry including posts as  chief of thoracic surgery at the Helen F. Graham Cancer Center, Christiana Care Health System, in Delaware as well as clinical assistant professor of surgery at Jefferson Medical College and adjunct assistant professor of biological sciences at the University of Delaware. Dr Bauer has led several lung and esophageal cancer studies and heads up Christiana’s participation in the International Early Lung Cancer Action Program (I-ELCAP).

Biomoda, Inc. has announced recently that the Company’s Phase II clinical trial, in which they have enrolled 500 military veterans for the early screening and detection of lung cancer is proceeding on schedule with over 130 participants screened to date. The Company’s core technology, is based on a group of patents held by the Company for a molecular biomarker called TCPP, which preferentially binds with cancer cells and fluoresces red under ultraviolet light. Biomoda’s screening protocal is non-invasive, cost effective and looks to be highly reliable in the diagnosis of lung cancer at an earlier stage that current screening protocals such as MRI and CT/PET scans, which could make it a highly valuable low cost, early screening tool for determining cancer in asymptomatic individuals.

To read today’s full press release click here


Peter Schiff to Don Harold “Get Out of Dodge Before the Shooting Really Starts”

September 29, 2009

Peter Schiff discusses the latest bombshell to hit mainstream America with market guru Don Harrold – that the FDIC needs an immediate injection of $45 billion to stay open. The ramifications – that the US dollar printing press will have to run overtime to support FDIC, eroding purchasing power of US Dollar. This is a must listen and very frank discussion about what is happening behind the scenes to the US macroeconomic situation and should be carefully listened to by every investor that is serious about protecting themselves (and their hard earned purchasing power) against what Peter (and many others) sees as a looming financial crisis that is going to materially affect the value of the US dollar in a very negative way. In the discussion, Peter talks about the moral hazard of banks putting depositor funds into risky investments to attract customers with better interest rates, and not caring that they could be on the losing end of these investments as the funds are ultimately FDIC insured, creating a conflict of interest between banks and their depositors – virtually guaranteeing bank failures as banks try and compete for business. Peter also talks about the future of the Federal Reserve System and where investors should position their investments right now to insulate themselves from this financial thunderstorm gathering on the horizon.

Click below to listen to this 10 minute discussion that we think could very well reset your investment strategy in these pivotal times.

Schiff_Harrold_interview


GeoPetro Resources IPAA Presentation Now Available

September 29, 2009

GeoPetro Resources’ (NYSE AMEX: GPR) President and CEO, Mr. Stuart Doshi addressed the general assembly at the 2009 IPAA OGIS Conference (Independent Petroleum Association of America – Oil and Gas Investement Symposium) this morning at 8:00 am. During the roughly 25 minute presentation, Stuart reviewed GeoPetro’s current business condition and future exploration/development plans at their five primary oil and gas target project areas which include:

  • Madisonville, TX – where the Company owns and maintains a midstream gas treatment facility and producing natural gas field. Projected production to 30 mmcf/day with addition of 2 shut in wells. Also, 18,000 foot exploratory well planned for 2010 to test Bossier Deep play, which has proven to be prolific in the region with 40 to 90 mmcf per day producers put in by Encana.
  • Lokern oil project, located in Kern County, CA directly adjacent to the recent major oil discovery (150 to 250 mmbo) announced by Occidental Petroleum (NYSE: OXY). A Stevens/Caneros test well is planned for 2010. 
  • Natural gas target in the Cook Inlet region of Alaska (where natural gas is getting a healthy premium to lower 48 prices, recently as high as $8 to $9 per mcf).
  • Natural gas target in Swan Hills, Alberta, Canada. A Devonian reef well is planned for 2010.
  •  Bengara II field in Indonesia – where the Company has a 12% working interest carried thru $60 million in development capital from CNPC.

To hear the full presentation (which is accompanied by the Company’s ppt presentation) click on the graphic below:

GPR-IPAA_webcast_Sept-29-2009


Lawrence Roulston Puts Some Perspective on Global Economics and Metals Prices in “The Big Picture in Metals” Article

September 29, 2009

Lawrence Roulston of the widely followed Resource Opportunitites group has put some perspective into the recent metals markets of late, reminding US investors to keep their eye on the larger forces at work in the markets and not the day to day price gyrations.  We have excerpted the following paragraph, which we find especially prescient with the full article following.

“While metal prices have soared, prices of the junior companies in the base metals sector have barely budged. It is only a matter of time until there is more action in that space. This quiet period is the time to build positions.”

Investors in the Western world remained focused on the US economy and on day to day headlines. That narrow and near-term focus misses the big picture in the metals markets.

The copper price chart for the past year is the best indicator of what is happening in the metals markets in the real world.

Before the financial crisis, analysts projected a long term average copper price of $1.25 to $1.50. Yet, copper only dipped to that level briefly at the bottom of the worst recession in seven decades.

For the full article click here


Traders Resist SEC’s ‘Uptick’ Rule

September 29, 2009

Trading firms such as Vanguard and Goldman Sachs have opposed the Security and Exchange Commission’s (SEC) proposal on the “uptick rule,” The Wall Street Journal reports. Under the modified rule, traders will be allowed to sell a stock short only at a price higher than the lowest price at which invetors are willing to buy a stock.

For the full article click here


Kinross May Boost Gold Production 57% Within 5 Years

September 29, 2009

Kinross Gold Corp., Canada’s third- largest gold producer may increase output by about 57 percent in the next five years if it proceeds with projects under evaluation in South America. Kinross Gold’s CEO, Tye Burt stated recently that the gold industry “may be in the midst of a perfect storm” because demand for the precious metal is outpacing new discoveries. Gold climbed to an 18-month high of $1,025.80 an ounce on Sept. 17 in New York. The price reached a record of $1,033.90 in March 2008.

For the full article click here