top pick for 2013, page-6

Hi Ms Muffet Buffet and all,

I was just doing a little reading on a slow Sunday afternoon and had not previously realised that as well as the terrific gold grades for Dargues Reef there are also some useful grades of handy and valuable contaminates such as silver.

Let’s hope that good progress is made by the management in NSW during 2013 and that it proves to be a prosperous New Year for all concerned: The ore through put from the Read Zone should also make for an interesting first quarter and hopefully add some useful fiscal powder to the company coffers.

“The Doubloon anomaly measures 2,000 metres by 500 metres with coincident molybdenum, gold and silver mineralisation. It has returned encouraging first-pass drill results including 1 metre at 2.76g/t gold and 5.1g/t silver from 23 metres down-hole.”

http://www.proactiveinvestors.com.au/companies/news/33894/cortona-resources-extends-dargues-reef-high-grade-gold-mineralisation-33894.html

Also I posted some of my general thoughts on the Gold thread and feel that up-coming events could have an effect on the Gold price and hence companies such as UML.

I can’t help thinking that soon if they are to be regarded as having any credibility at all the major ratings agency’s will have to down grade US debt / treasuries. As we know for the last couple of years the US has been the main buyer for this dodgy paper, reliant on the future ability to tax and borrow further to make good on past debt. However; I think we can assume that some of this paper is in super funds and other accounts that require AAA status as a precursor to ownership.

If the world class negotiators we saw in action recently on the Fiscal Cliff fiasco do a similar job with act two the Debt Ceiling raising debate then Moody’s et-al will have little room to move. There seems little indication of much stomach for and reduction of spending or additional taxation in the coming Debt Ceiling debate so I shall watch with interest. If there is one iota of truth that Uncle Ben and the gang will end their current paper purchase plan of $85 Billon per month then none of the above will matter as that alone will sound the death knell for the bond market!

I believe the slightest change in perceived security of US treasury debt such as a down grade or interest rate change to make it more attractive will be more than the current system can bear.

Just a reminder on the detail of these debts that apparently don’t matter: (from Zerohedge.)

“According to David Walker, former controller of the US, when these unfunded programs are added to the enormous debt, it stands at $70 trillion and growing–that is $10 million per minute!”

Those with full faith and credit in the USA FED can have that all to themselves. As for me as long as this lunacy continues physical gold is the only sensible insurance I can see! Talking of sensible for a moment I see Mr Timothy Geithner is putting his exit plan in to action just ahead of the next debt limit fiasco in Washington. (IMHO a very smart move.)

I dare say the next few weeks will supply plenty of material for discussion on these threads, never a dull moment in here.

I guess of course we can expect anything from a nation that feels the solution to the recent school shooting horror is to send your kids out with a bullet proof school bag to hide behind or training and arming teachers with automatic weapons!

Heaven forbid next the idiots will be suggesting a Trillion dollar Platinum coin be minted to fix things!

As long as I’m writing I also wish Mr Andrew McIlwain and all the company management and employees a very safe and prosperous year in 2013 of course I also extend those sentiments to all current and shortly to be UML share-holders.

Cheers and very best regards: Andy