the most sensible reason i have heard is that right now the market is being driven by fear. people buy gold based on fear, but they buy gold shares based on greed. when people are afraid they dump their shares, so the mining stocks have been trading like stocks instead of like gold.

i will be here at least until kinross gets 90% and probably after that. i think kinross shares are a viable way to participate in what i expect will be a runup in the gold price after the election. that doesn't mean i am happy at this turn of events. i can't tell you how disgusted i am when i look at the kinross web site and see fruta del norte listed as one of their projects.

but if anyone sells their shares now, that is certainly understandable. this is not a religious cult, and anyone can come and go without any explanation. most of us here invest in junior mining stocks, and in the past two months, the valuations of those stocks have gone from cheap to stupid cheap. so for some it would make sense to sell some or all of their aru to take advantage of bargain prices i never thought we would see again. i already have enough juniors (too many, actually) so i expect to hold.

but when some exploration and development companies are cashed up and have well defined resources, and sell at levels at or near their cash in the bank, that is hard to resist. all i am sure of is that there will be more volatility in the market as the us treasury and fed try to hold things together until the election, but after that we should do well whether we hold kinross or any of the juniors that are strong enough to survive the credit crunch.

i wish safeharbour well, as he put more effort into this forum than anyone else.