Maudore Minerals (TSX-V: MAO and OTC: MAOMF) released another round of excellent drill results at their 100% owned Comtois Gold project in the Abitibi Greenstone Belt of Quebec last week (Wednesday, March 24 -2010)
Link: Maudore Drilling Adds High Grade Gold Mineralization in All Project Areas
– which we saw as great news for the Company, and furthered our opinion that Maudore’s continued success with their drilling program is adding value to a Company that has already discovered a high grade gold deposit (524,000 ounces at 20+ g/t) – in one of the very best gold jurisdictions in the world – with Val-d’Or to the south and Timmons/Kirkland Lake to the west.
Therefore, we see this recent round of what we assume is some interim profit taking in the market by a few Maudore investors as a great opportunity to own Maudore shares at a nice discount to recent prices of over CAD$4 per share. One of Maudore’s largest investors , Anglo Pacific Group PLC out of London has also decided to add to their position lately as evidenced by the chart below, showing that they have accumulated an additional 114,100 shares (roughly $450K of stock) over the past couple of weeks. We have included a snapshot of the recent buying by Anglo Pacific Group PLC below. You can continue to track this by going to www.canadianinsider.com and putting MAO into the box on the right hand side.
With four drills turning on the property 24/7 and the updated 43-101 report due out soon (Q2-2010) we are expecting good news flow from Maudore over the next few months and will continue to keep you informed as these events unfold.
WGC Releases China Gold Report – Demand to Far Exceed Supply
March 31, 2010The World Gold Council’s China Gold Report entitled “Gold in the Year of the Tiger” suggests that gold consumption in China will continue to catch up with the rest of the world. For the most part, the WGC never writes anything bullish about gold, and this article is astoundingly bullish. China just became the world’s largest producer of gold last year, and already the report says it may be FULLY DEPLETED in just six years. China will need to spend HUGE money on gold (and silver) in the next decade, particularly given that not only are they the largest CONSUMER of gold as well, but also have the most to lose from devaluation of paper currency against real money. Below are excerpts from the report.
“The World Gold Council (WGC) believes that gold consumption in China will continue to catch up with the rest of the world following the deregulation of the Chinese gold market in 2001. Demand from China’s two largest sectors (jewellery and investment) reached a combined total of 423 tonnes in 2009 but domestic mine supply contributed only 314 tonnes during the same year. This Shortfall creates a “snowball” effect as China’s gold industry may not be able to keep pace with the annual leap in domestic consumption despite rising to be the world’s largest gold producer since 2007. Although the country’s appetite for gold has grown, making China the second largest consumer in the world, demand in China per capita has a lot of catching up to do to equal that of Western economies. In jewellery, the Chinese per capita consumption is one of the lowest at 0.26gm when compared to countries with similar gold cultures. If gold were consumed at the same rate per capita as in India, Hong Kong or Saudi Arabia, annual Chinese demand could increase by at least 100 tonnes to as much as 4,000 tonnes in this sector alone. Nearterm inflationary expectations and rising income levels are likely to support the investment case for gold as an asset class, especially given that Chinese consumers are high savers and are looking to gold to protect their wealth.”
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