gas in tank, page-11

Decent overnight sentiment in both the bullion and US equities markets: worth the early rise!

I, too, have been clobbered by the bottom falling out of PRE and the markets in general, but I have not only held, but greatly added, to my positions. Markets overshoot on the up and down side, and I believe sentiment for gold juniors will change powerfully when it does.

Echoing Robin Bromby's view in Australian of 04/02/08 referred to above is an article on Seeking Alpha reporing Canadian analysts from Cannacord Adams are now very positive on gold juniors as "Gold producers are going to be looking to maintain and grow their production portfolios, and junior gold equities are likely to be the source of production growth" (www.seekingalpha.com, Global Markets tab/Gold accessed 14/03/08).

I just look at the insto money on the register of Leonora-focused SBM (Barclays announced attainment of a 5% stake on mid-Feb to join other major names on similar stakes) and I know that serious bets are being made on the mid-tier right through this market shakeout.

All I know is that PRE has hit some most encouraging intersections in a highly prospective district, I very much like its exploration thesis of leveraging deeper extensions to a proven open pit orebody to bring early value to its entire Leonora operations, and it is surrounded by successful neighbours like NAV and SBM, the latter with a stunning share register.

I am, however, a speculator and I can afford to wait and be proven wrong. What I won't do is throw my hand away because of waiting an acceptable timeframe to an initial resource estimate. Regards to all.