The following is a missive that we received from Jim Sinclair who is the host of a web site called Jim Sinclair's MineSet. The above link will take to his site and his updates via email are free, so you have nothing to lose by signing up for them.
Here we go:
Barrick talks trash and injures the gold shares today.
1. How much has Barrick done right lately?
2. Go back to the last realignment in management of Barrick and realize non gold thinking is now reorganizing the company.
3. Know that Barrick is selling the bottom of the gold market as they increased cost directly into an interim top.
4. Know Barrick's corporate culture is at the heart of much of their problems.
5. Know colonialism is finished in the mining business.
6. Know certain majors are doing their best to become juniors.
7. Know certain juniors are headed to become majors.
8. Know today's Barrick trash talk is an effort to spin their reorganization as a product of the times and not Barrick's fault.
9. Know today's trash talk is just one more corporate error.
Stay the course.
With gold, silver and Uranium stocks being out of favor one must decide if this is a problem or an opportunity. We have steadfastly refused to buy gold and silver mining stocks for the last two years and as evidenced by the HUI we feel that our decision to hold back has been vindicated. The damage done to the mining sector may not be over yet but this demise is starting to offer up some exciting opportunities in my view.
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