Why I bought into Probe Mines
in response to
by
posted on
Nov 13, 2007 12:00PM
Some years ago I was extremely fortunate to learn of a man by the name of Jim Sinclair. I received a real fast exceptional education on why gold was headed higher. I had been interested in the Goldex project for as long back as many years ago when I was first introduced to it by a Mr. Bill Baxter who wrote an investament letter that covered gold companies brilliantly.
My whole family owned Goldex Mines until it was taken over by Agnico Eagle. Now they hold that stock. I was more interested in leveraged plays that would benefit me more with a much higher expected gold price. This led me to Probe Mines with their Goldex royalty with Agnico.
Jim Sinclair's anticipated eventual price in gold is $1,650.
The man has been so consistently right that I believe everything that he says without reservation. I have not lost a penny following his projections and opinions and by applying them to resource stocks in Canada. Mr. Sinclair also said that the Canadian dollar was destined to reach par with our greenbacks back in 2003.
I have noticed on the NOT Forum pages lately that some people have alerted their members concerning the risk of keeping assets with intermediaries. Mr Sinclair concurs with those concerns. Life is short and inflation is eating into everyone's pockets, mine included. I recently read that currently the US has an inflation rate of 19% while the government prefers using their CPI figure which is just only below 3%.
We also don't need to be exposed to structured investment vehicles called OTC derivatives that are now creating big problems for some financial institutions. Reassurance from these effected firms that "things are under control" do not impress me. US accounting laws are soon requiring all companies to categorize their assets of questionable liquidity into category three which is basically a sludge tank for toxic waste. Not all will do this for the obvious reason of creating a financial fall-out of the company's net worth but will be forced to later with heavy fines.
I'll keep my assets in a safety deposit box along with my fair amount of Probe shares.
Mr Sinclair gives advice on how to protect your families concerning the current threat to their wealth. I posted to the website on the NOT board and received a violation notice. I won't supply the website here but you can search the Internet and locate it without much trouble. Reading his carefully worded commentaries is like being back in school with a professor that knows how to teach. I'm going to stay in his classroom for as long as he continues giving advice. The benefit to the learning experience is the great knowledge that is acquired by attending class.
Daily readings of the most informative and truthful website will bring you back to Probe, or others, for more shares. I have been extremely fortunate as a shareholder for the reason, other than the gold issue, that management has provided me with a bonus of their great foresight in acquiring excellent properties well in advance of the pack.