Int'l Speculator refreshes Premier Gold buy

2008-10-22 19:40 ET - In the News

The International Speculator in its Oct. 3, 2008, issue, refreshes its buy of Premier Gold Mines Ltd. at $2.35. The newsletter said buy on July 3, 2008, at $2.48. An investment of $1,000 is worth $938. The Speculator's writer goes over the press releases and notes the company's Red Lake high-grade prospects lie between Goldcorp Inc.'s Red Lake operations and the coveted Gold Eagle property. As optimistic as ever, the writer says that if Premier Gold proves up the multimillion-ounce high-grade potential, a "natural buyer" -- presumably, Goldcorp -- is waiting in the wings. He also likes Premier's Geraldton project, which has high-grade underground and open-pit bulk-mining potential. There is also the high-grade Santa Teresa project in Mexico, where Premier has confirmed extensions of a vein yielding gold in the ounce-per-tonne range. With multiple sources of high-grade news, it is no wonder the shares rebounded more than most from September's meltdown, he says. Elsewhere in the Speculator, Louis James, Casey Research's managing editor, recommends 33.3 per cent physical gold, 33.3 per cent cash and 33.3 per cent gold-related stocks as the way to survive -- and even thrive -- in the current financial crisis.