If anyone wants to sell me their GFI shares at R70, sorry I mean, R100, I'll buy. BTW, I felt GFI should go down to about R110 and then take off again. I said this in about Feb or Mar after the WAR acquisition was digested and GFI issued a huge number of shares to pay off the South Deep hedge. The gold price will still go up. Gold shares will go up. GFI currently has the biggest reserves and resources out of all gold shares worldwide. Why is it that SIM is going up whereas GFI isn't? Note that if you read this morning's Cape Times you may have noticed an article about the Bear Stearns hedge fund liquidating $800 million of its assets. If it does this, it might finally push USDX below 80. When this happens, the excitement will start. See http://globalgold.blogspot.com/2006/12/us-dollar-index-usdx-elliott-wave.html and the StockCharts web sites if you don't know what USDX is. Here's a summary: The European euro dominates the index with 58% of the weight, the Japanese yen comes in second at 14%, the British pound 12%, and the Canadian dollar at 9%. The remainder is divided between the Swedish krona and the legendary Swiss franc. The chart is called the USDX. Oh one more thing: without hedges, GFI will react to the physical gold price faster than other gold miners.
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