bmo, page-18

Yes yes the BMO story is resonating around negatively in a very nervous market for metals. I think some of the insights here have been great (Bruce Robertson & Agent Cooper for instance).. let's keep things in perspective though. For starters (sgoni) GOLD was a massively great play/trade/punt/whatever you want to call it over 2006 despite EVERY analyst bar 2 or 3 globally being a bull...Why get negative GOLD?? You have all the well worn reasons why the $US will fall steadily over the next decade and that currencies as a whole are holding less long term allure for investors (see the CHF for instance .. well maybe Richo, TK and Rene clouded that geography...) but I digress! GOLD looks good on the charts laddies & lassies and it's hard to ignore the weak $USD fundamentals or the supply demand story in GOLD.. ZINC has some hedgies trying to kill off one another but despite well telegraphed stockpile increases, has bottomed in my humble Op.. Look at the price action (10% move in a night.. oh please STOP LOSS!!)..... Copper I dunno but it's still worth way more than the past few years... Other smaller plays such as in molybdenum where the supply demand is awfully skewed to being long and there are seriously good junior Aussie plays to look at in sector! So any fund that was short GOLD last year has had it's PnL handed to it as a pink slip.. Don't be trying to pick tops of trends my friend unless you are very very wealthy.... As for Mr Rovertson on the sector as a whole, YES it's a difficult and precarious sector(GOLD) at times in Oz but it trades at a massive discount.. For instance in one past I know (VICT. golds .. yes yes I know tres unfashionable).. what price a GDR or a MCO if they have anything like the reserves that (noty even they are projecting but some mkt pundits suggest).. What is my little gold miner worth with 2mm ounces in the ground?? Is it 2mm ounces X AUD gold price?? minus a bit?? NO!! these stocks trade on a discount of between 90 and 99% to reasonable NAV.. so YES it's a volatile sector but NO it's not roundly overpriced... Go and see what some of these minnows are doing - spending their own cash and true believers cash trying to create some value for (yes themselves) but also YES you me and many readers here. Let's not get too negative the sector Bruce R because of the BMA Gold (BMO) 'deception'... On BMO, my humble view from knowing a little about Wall and Wheatley (not Glenn!) is that they knew the sh*t was hitting the fan a while back............You can blame CBA or investors but I can't see why?? Outsiders (investors like us and CBA) are damn entitled to buy and sell as they see fit. If an investor like CBA doesn't, they will get crushed even by Mr & Mrs John Sample of Sampleville via E*Trade!! You have gotta move fast and with your wits in this market... just look at T3........ But the little I know on BMO says 1. steer clear of that management now and for good.. 2. Who asked why CBH didn't put cash in?? What a harbinger of non-success that was... 3. The problems with Area 2 and 3 were well known by the 'insiders' ages ago which is why these guys trouped all over the small end of town looking for 'assets' to add to BMA and show to the bank as security for a facility which was being called in..... 4. and generally if you really believe we 'outsiders' are insiders on this market, think again.. 5. I have no sympathy for a Fat Prophet or wherever analyst who has all the info at his disposal OR SHOULD before he/she writes such tripe on a stock like BMA...... We pay those guys to do the homework thoroughly b/c we can't be bothered... what a rant-- enjoy reading the banter enormously BMA followers.. keep it up! PS and write it off.