from expert Jack A. Bass
The media buzz about the new gold price all time high will attract money to the sector:
The AMP has selected our gold list for :
1) increasing production
2) increasing investor recognition and thus
3) increasing price multiples
NOT because we believe in of the imminent collapse of western civilization. What we do fear is a sharp rise in inflation in 2008 and I believe gold ( and oil ) will benefit as investors seek inflation protection in commodities.
This is one of the largest strategy changes i am writing about in the new edition of The Best Ideas for 2008 book. If you already have a copy I suggest inserting a copy of this market letter as a reminder of this new emphasis.
Following my own advice I bought more Yamana and CEE ( story below)
Juniors - Western Goldfields ( WGI) - new 52 week high last week.
It is a producer this month - just in time to sell at record prices.
Crossed into the $4.00 level fort the first time and I believe will rise 50 % over the next year.
Centamin
CEE is in Egypt and is about to become from one of the world's low price producers.
the stock has spent time below $1.30 - as I have mentioned .
The higher gold price has brought enough investor interest and volume to have that serve as a base for a sharp advance .
It is little known at this time.
Jack A. Bass is the editor of the market letter The Apprentice Millionaire
available at www.amprogram.com
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Yamana in the Financial Post
Yamana in the Financial Post ( Jan 26th )
It looks like 2008 is going to be one busy year for Yamana Gold Inc.
Earlier this week, the gold miner provided updates on a slew of projects, ranging from its Chapada mine, where preliminary studies justified a feasibility study for extraction of an additional 320,000 ounces of gold and 94 million pounds of copper, to the El Penon mines where resources have been expanded by an additional 259,000 ounces on new resources.
Yamana also indicated that the C1-Santa Luz feasibility study shows higher production of 103,000 ounces per year, but at higher cash costs of about US$400 per ounce.
"The consistent achievement of milestones that the company has earmarked (mine start-ups, delivering on targeted production and costs, advancing exploration projects to construction) will define Yamana as a proven developer and builder of mines, more so than as a simply the successful acquirer of companies." Blackmont analsyt Richard Gray said in a note to clients.
He told clients that Yamana represents one of the gold sector's best combinations of risk and reward and maintained his "buy" rating and $22 price target on the stock.
Jack Bass is the editor of the market letter The Apprentice Millionaire, available at www.amprogram.com
His new book is Our Best Ideas for 2008
Western Goldfields Update
Western Goldfields Update Jan 12,2008
Wonderful news not yet reflected in the stock price of this junior member of The AMP Portfolio
First gold pour for 2008 production of 1,000 ounces
- January sales and production ahead of budget
- Exploration drilling expected to begin by end January
TORONTO, Jan. 17 /CNW/ - Western Goldfields Inc. (TSX:WGI, AMEX:WGW) today announced that it has completed the first gold pour of 1,000 ounces for 2008 production at its Mesquite Mine in California. Gold sales for the month of January are expected to be approximately 2,700 ounces, exceeding the January budget by more than 30%.
Jack Bass is the editor of the market letter The Apprentice Millionaire Program available at www.amprogram.com