Re: New Jr Gold Exchange Traded Fund? Implication are Profound IMO
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The Company's Eagle Gold Project in Yukon Canada hosts a National Instrument 43-101 compliant Reserve of 2.3 million ounces of gold.
Message: Re: New Jr Gold Exchange Traded Fund? Implication are Profound IMO
1
Jun 21, 2009 08:58AM
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" I know Victoria Gold's President and CEO has an objective to be among the cream of the crop when it comes to junior gold companies. Now it will be ever more important to achieve that objective so that their stock can be eventually be included in the junior gold index that I expect will become a reality."
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Thomas, agreed chad wants to push VIT to the forefront BUT i am not so sure his objective is to get on Rob's list. Rob is well aware of VIT, i know this for a fact. VIT was not interested in working with US Gold or its properties. ( i know this from a key analyst that is NOT one that covers VIT, FYI) Keep in mind this ETF/Index also serves to push Rob's own stocks, Rubicon, US Gold and some others. this is not some one like Sprott Asset who is unattached and just looking purely for the best. Victoria in many ways is a direct competitor of US Gold for investment money . he does not want to put a spotlight or bring attention to something that is a better alternative to US Gold perhaps. They often taut how close their Nevada stuff is to Mill canyon......well if that is really a key selling point then wouldn't something that is a baseballs throw away, directly next door, mill canyon, be a better choice? we have fantastic drill results, will be going back there in the near future and Barrick is currently undergoing a Large $15 million + exploration drilling campaign which surrounds our mill site. There is something big there, they ( Barrick) have not revealed it yet and we are smack in the middle,IMO.
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keep in mind this is not a ROB bash, i started in late 2001 with gold corp, holding for years,made good money and think he is a great promoter too.
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"buy a share in the index fund that will represent an investment in the top 21 junior gold companies"
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yes what Rob considers the best 21 stock for himself and what could be overall best may not be synonymous because of inherent conflicts of interest on his part.
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"Also an exchange traded fund will provide the liquidity to buy and sell in size without having an adverse impact on the price of a single junior gold stock. Most junior gold companies have very little liquidity in the market and it is very difficult to build a large position without driving the price up and by the same token, it is very difficult to sell a sizable position in a junior gold company without the sale significantly affecting the price you are able to receive in the open market."
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i don't understand this concept. an ETF or an index type fund still buy the shares.....so if Robs ETF fund buys 1.5 million shares in a certain junior or 14 retail investors buy a total of 1.5 million shares is this still not the same effect?
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