Ann: Credit Approvals Secured for Hemi Gold Project Financing, page-52

Unbelievable! Just read an article about BMO (Bank of Montreal) raising its forecasts for both gold and silver prices.

The unbelievable bit wasn't that it was raising its short-term forecasts, the unbelievable bit is that it still has a long-term forecast gold price of just US$1650/oz. That is the whole problem with the precious metals sectors at the moment and why we are seeing little to no reflection in the share prices of companies even though the prices of the metals themselves continue to rise. Not surprising when these are the sorts of numbers these guys are still punching into their models.

Really got to make you wonder about these so called "expert" analysts, do they even apply just the slightest bit of common sense. I mean with the massive increase in costs in the sector over the last few years, and no doubt more to come in the next few, you can pretty much guarantee that a big chunk of the sector won't even be able to pull it out of the ground at those prices in 4-5 years time (not to mention everything else that is going on in the world) yet they're still willing to hang their hats on those types of numbers.