George Maniere: Sometimes Doing Nothing is Doing Something – How to Find the Market Bottom

August 9, 2011

InvestingAdvicebyGeorge: Yesterday I had a dozen readers write to me asking if we should we be buying into the market now or commenting on what great bargain prices these stocks are selling for. I have written many times that “sometimes doing nothing is doing something”. I told them that the hardest thing to do when the market sells off 634 points is to do nothing. I will explain why.

In every market there is one stock or sector that is an indicator. I feel that in this market that indicator is Gold. Yes I do own GLD. But I will not buy into this market sell off until gold sells off. Why? The answer is because right now Gold is perceived to be the ultimate safe haven. Well what it is the safe haven from? The answer is the continued debasement of currencies and the fear that is being shown in the equities market. Yesterday it was clear that people had lost all appetite for owning stocks and were content to park their money in safe havens like gold and even US Treasuries. While yesterday was a record volume day, I read a statistic that really floored me. While there were approximately 4.5 billion shares traded there were only 25 million shares traded to the upside. The selling we saw yesterday was either short covering or people selling to get out. Either way it felt like capitulation.

Read the rest of this entry »


David Levenstein: Debt Ceiling Driving Investors to Gold as a the “Ultimate Asset”

July 19, 2011

JOHANNESBURG – The price of gold rallied above $1,600 an ounce Monday, as concerns about the Eurozone debt crisis and the lack of agreement on raising the U.S. debt ceiling prompted investors to seek a safe haven in the precious metal. Spot gold pushed through the $1,600 an ounce level and at the time of writing made new record highs in US dollars, ($1608/oz), euros (€1,141/oz), and sterling (£996/oz), mainly due to the growing risk of a systemic financial collapse and fiat currency crisis. 

While it is almost certain that the US government will raise the debt ceiling, the implications of this will mean that the US Federal Reserve is going to buy some of that government debt and run the printing presses again. And, all this additional money creation will only cause the value of the greenback to decline even further against the other fiat currencies. And, this monetary expansion will certainly have an inflationary effect as we have already witnessed during the last year.

For those people who understand the effect of inflation, and in order to protect against the erosion of their wealth, these prudent investors will buy more gold and silver. Through both good and bad times, gold has endured. While market cycles go through periods of boom and bust, gold has maintained its long-term value. In contrast, currencies tend to lose their value over the longer-term due to the monetary policies of governments. This is why gold is often purchased as a hedge against inflation and currency fluctuations. Investors around the world see gold as the “ultimate asset.”

Read More


Silver Dragon – Strategic Advisory Board Update

October 8, 2010

Silver Dragon Resources (OTCBB: SDRG) formed a Strategic Advisory Board comprised of several distinguished mining executives who will act as advisors to the Board of Directors. The mandate of this group is to assist Silver Dragon with its strategic plans and to use their extensive contacts to assist the company with anticipated transactions. 

If you have not looked at the Company’s Strategic Advisory Board lately, you should.  It is made up of some really impressive individuals, including the following.

Rt. Honourable Lord Michael Howard

The Rt. Honourable Lord Howard of Lympne is the former leader of the Conservative Party in Britain, a distinguished lawyer, and served as a Member of Parliament in Britain for 27 years.  He filled many government posts, including Home Secretary, Secretary of State for Employment and Secretary of State for the Environment, as well as Shadow Foreign Secretary and then Shadow Chancellor.  After his retirement from the House of Commons at the 2010 General Election, Michael was created a Life Peer.  Michael Howard is also Deputy Chairman and a Director of Entrée Gold Inc. listed on the Toronto Stock Exchange and a non-executive Director of Orca Exploration Group, Inc., which is listed on the TSE Venture Exchange.

Read More


Silver Dragon Appoints Charles McAlpine to Its Board of Directors

September 29, 2010

TORONTO, Sep 28, 2010 (GlobeNewswire via COMTEX News Network)  Silver Dragon Resources Inc. (OTCBB:SDRG) is pleased to announce the appointment of Charles L. McAlpine to the Company’s Board of Directors, as an independent member in accordance with U.S. and Canadian corporate governance and securities requirements.

Mr. McAlpine is a Chartered Accountant and a seasoned veteran with nearly 50 years experience at executive-level positions in the mining industry, most notably as a director of Hecla Mining, a major U.S. silver producer, from 1989 to 2007.

“Charles’ appointment to the Board of Directors continues the Company’s strategy of expanding its management experience and depth through the appointment of accomplished industry veterans,” commented Marc Hazout, President and Chief Executive Officer of Silver Dragon Resources Inc. “This appointment represents an additional validation of the quality of Silver Dragon’s assets, and a further step toward its goal of attaining a Toronto Stock Exchange listing.”

Following this appointment, Silver Dragon’s Board of Directors is made up of five directors. Mr. McAlpine is one of two independent directors.

About Silver Dragon

Silver Dragon Resources Inc. is a mining and metals company focused on the exploration, acquisition, development and operation of silver mines in proven silver districts globally. Silver Dragon’s objective is to acquire silver mining assets that contain promising exploration targets, have highly leveraged, out-of-the-money silver deposits, or are producing properties with significant untapped exploration potential. Management’s objective is to grow Silver Dragon into a significant silver producer by developing the Cerro las Minitas and Erbahuo projects in Mexico and China, respectively. For more information, please visit the Company’s website at: http://www.silverdragonresources.com.


Bob Chapman: Gold and Silver Both Underpriced

September 16, 2010

The Gold Report: Bob, you are the editor of The International Forecaster now, but you have about 50 years of investment experience behind you. Tell us about yourself.

Bob Chapman: The International Forecaster has been in production for over 20 years. It came about because I retired at 52 and being a “Type A” personality I found I couldn’t live life without doing something with my mind. Playing golf and tennis everyday was a bore, so I started The International Forecaster.

I had spent 28 years as a broker and owned my own firm for many years. I was probably the largest gold/silver stockbroker in the United States, perhaps even the world. We had 6,000 clients when we sold the company.

I really enjoy writing and doing radio. Occasionally I’ll do television. It really fits me. I should’ve been in journalism. But then again, what would’ve happened is that I wouldn’t have had the background to be a good journalist.

Read More


Silver Seen as Safe-Haven Cinderella

September 2, 2010

LONDON (Reuters) – Renewed uncertainty over the global economic outlook has revitalised the push into perceived safe-haven assets like gold, but as bullion edges ever closer to record highs, silver has emerged as a cheap alternative. Dubbed “the poor man’s gold,” silver XAG= has risen by nearly 15 percent so far this year to above $19.00 an ounce, making it one of the top performing commodities of 2010.

Read More


Silver Dragon Completes Erbahuo Mining License Transfer to Chifeng Silver Dragon

August 3, 2010

Silver Dragon Resources Inc. (OTCBB: SDRG) has received a new mining license for its 70%-owned Erbahuo silver mine, issued by the Department of Land & Resources, Inner Mongolia. The license has been transferred from the previous holder, Huaguan Industrial Corp., a Chinese state-owned entity and Silver Dragon’s joint venture partner, to Chifeng Silver Dragon Resources & Technologies, Ltd., a Sino-American joint venture. The mining license transfer process, which consummated in a change of the property title, constituted part of the permitting process for mine development and mill construction.

Read More