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20/09/15
17:42
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Originally posted by danhoff
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It is a fair question re sovereign risk. I really only consider Australia, Brazil, Canada. I would not touch Africa with a 10 foot pole. In one second (coup) you can lose the lot. Is there (was there) not a good gold mine in Yemen? Would you trust the good gold mines in Turkey.
I remember one story, not long ago, in Mongolia where the miners were leaving their mine one work shift and they were shot at by Mongolian horseman. (boys just being boys?)
USA... when push comes to shove they will confiscate gold; mind you, they may have no reason; the confiscate before was when gold was money
Brazil... I am tempted to take them off my safe list.... too much corruption and now recession and I can see govt looking for money
I may end up stopping in Australia. If that were the case I like MLX best.
But... I am thinking we are going to end up with a deflationary down for a while. And even if POG goes up, gold shares, likely will go down. I am very much out of the market right now. Just a bit of BDR left.
Likely the best question would be: are there any management teams that are proven top notch; be careful dropping names with no evidence; I have been caught out before with people (I assume relatives of management) coming onto hotcopper anonymously tell me who great dad or grandad or uncle is. I wish I could find all the posters two years ago that tole me BDR management were good and proven. What a lie. But I did not research. I have the pleasure of a TAFE educated farmer pay himself millions to run BDR into the ground and lose all us long timers so, so much money.
I think any decent gold resource with great management will do well. But I need to see if we are going to go straight to deflation. Or if the FED will go negative interest rates to get the inflation smokin. I bet Janet Yellen and Bernanke do well in the markets.
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DAN. whether its MRQ or not AUSTRALIA IS THE PLACE TO BE . On management Chris Gregory taking a leading role in MRQ , found SEPON in Laos (4m ozs ) , worked with RIO extending ESCONDIDA etc. outstanding person to have on side .