Melman on Gold & Silver
July 2007 by Leonard MelmanOne of the oldest market sayings is that a securities bull market confirms its strength when it is “able to climb a wall of worries.” Well, that old adage was sure given an enormous workout last month as one hammer-blow after another hit the headlines.
Hardrock mining is usually done on a large scale, and although a few small-scale hardrock operations still exist, it’s not an easy operation to start up and run profitably.
Gold mining companies are being conservative in asset valuations despite recent spikes in gold prices in terms of US dollars, according to a survey by PricewaterhouseCoopers.
Well, the events of last month have completely diverted attention away from prior problems such as tensions in Iran, arms build-ups in China and Russia, socialist experimentation in Venezuela and Bolivia, peace efforts between Israel and the Palestinians, and instead have placed the focus of the world squarely on a rapidly growing array of financial dislocations.
Anyone seeking evidence that the standard leftist/socialist dogma may not work well need look no further than two western hemisphere governments, Venezuela and Puerto Rico, as both are now being wracked by financial and social upheavals.
Prospectors east of the Mississippi have their share of gold bearing property to explore and prospect upon. There’s plenty of undiscovered gold on the bottoms of the creeks and rivers running through the eastern gold belt.
The Bawl Mill • Ask the Experts • More Tips for Evaluating Ores • The Mountain Gate Mine • The Basics of Small-Scale Heap Leaching with Cyanide Part I—History, Suitablility and Permitting • Oregon Suction Dredge Permit Update • In Pursuit of Gold and Silver in the Sierra Madres—Buying the Pilot Mill • Life in the Alaska Gold Rush • More Small-Scale Miners Attracted by Gold Prices • Gold in New Zealand • Ready “Ore” Not, Uranium Boom is On Again • Mining Stock Quotes and Mineral & Metal Prices • Looking Back