Re: Potential cup and handle breakout...
in response to
by
posted on
Aug 14, 2009 06:54AM
In 2011, Homestake Resource reported an updated mineral resource estimate, (NI43-101 compliant) of 191,000oz gold and 1,350,000oz silver indicated plus 530,000oz gold and 13,470,000oz silver inferred at a 3.0 g/t AuEq. cut-off in two separate deposits.
Dr Fill - yes, we hit the target projected by the pattern and now we will likely consolidate in the 50's so I suspect you will get a chance to reload as you expect. As for the redemptions from GLD, I imagine you heard about Paulsen's fund exchanging their GLD for bullion earlier this year. It would not surprise me to find out that other hedge funds and institutions are doing the same. I know there's no way I would ever hold GLD as a proxy for bullion, it's a piece of paper and not the real thing. Let's see if we can take another run at 960 today. It may take 2 or 3 attempts.
tsl