.................."Driving to the Gold Rush"
"Driving to the Gold Rush," see http://www.nytimes.com/2008/02/20/business/worldbusiness/20gold.html.
Here's some of the article:
"Just to start exploring, it takes tens of millions of dollars. The cost of finding and then mining gold has increased about 25 percent in the last year, a result of soaring costs for the energy, steel and cement used in mining.
Specialized equipment and qualified personnel are also in short supply. Modern-day exploration requires aerial mapping and sophisticated sensors.
Even with the most sophisticated sounding and drilling equipment, only one of every 1,000 exploration projects becomes a working mine, said Peter K. M. Megaw, president of Imdex, a consulting and contracting firm based in Tucson that helps foreign companies exploring in Mexico. "
....... http://www.JoeFRocks.com/ .
HUI NEM XAU
Here's some of the article:
"Just to start exploring, it takes tens of millions of dollars. The cost of finding and then mining gold has increased about 25 percent in the last year, a result of soaring costs for the energy, steel and cement used in mining.
Specialized equipment and qualified personnel are also in short supply. Modern-day exploration requires aerial mapping and sophisticated sensors.
Even with the most sophisticated sounding and drilling equipment, only one of every 1,000 exploration projects becomes a working mine, said Peter K. M. Megaw, president of Imdex, a consulting and contracting firm based in Tucson that helps foreign companies exploring in Mexico. "
....... http://www.JoeFRocks.com/ .
HUI NEM XAU
Labels: Gold, Gold Stocks, HUI, NEM, Silver, Silver Stocks, XAU
posted by Joe Ferrazzano at
9:10 PM
2 Comments:
If one looks at the Euro/USD, there is not much on the daily graph that would cause one to be convinced of a collapse in the Euro. Higher lows and five waves completed (approx 12 February)ready to blast straight through 1.4880. What looked like a double top developing, quickly negated itself. What is also interesting, on 321 gold, ski by inference, has declared a bull market on the 12 February.
By
Anonymous, at 8:58 AM
Hi Sean,
The 1-14-08 HUI/XAU cycle highs are established intermediate term cycle highs, and, they are probably Wave 1 Cyclical Bull Market cycle highs for the Secular Bull Market that began in late 2000for HUI/XAU/NEM and began in April 2001 for gold.
The dramatic rollover action since the 11-7-07 HUI/XAU cycle highs, in which the XAU only made upside progress in one session from 11-7-07 until 1-14-08 (HUI made upside progress in three sessions), is the clear sign that HUI/XAU are at least in a major intermediate term downcycle, and, are probably in a 12-18 month Wave 2 Cyclical Bear Market since 1-14-08. HUI didn't even take out it's 1-30-08 cycle high today, while the XAU modestly exceeded it. Good luck.
By
Joe Ferrazzano, at 10:40 AM
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