Gold Too Hot?
Source: Gold Investing News, Kishori Krishnan (10/13/09)
". . .investors appear to be lapping up gold stocks like there is no tomorrow."
Why the frenzy? Is it a mere bubble? What is behind the volatile rise in prices? There appear to be too many questions and too little answers.
For sure, there is intense interest among the world’s 100 most-in demand listed gold stocks. And why not? A selection of 100 of the world’s most in-demand gold stocks yields up a current aggregate market value of $197 billion.
Collectively, these names comprise the world’s most demanded mining subsector at this point in time.
Last month saw a number of "new entries" into the list of most in-demand gold stocks, not least , owner of the rather spectacular Camino Rojo discovery in Zacatecas state, Mexico.
The company has completed more than 38,000 meters of drilling at Camino Rojo and has outlined 3.44m ounces gold and 60.7m ounces of silver, with further ounces of both metals likely to be graduated up the ladder as work continues.
For all this, Canplats carries a relatively modest market value of US$ 136 million
too has zoomed back into focus with its Caspiche Project in Chile (close to being fully optioned from Anglo American Chile Limitada), a gold-copper porphyry system, 15 kilometers south of Kinross' Maricunga (formerly known as Refugio) gold mine (+8m ounces of gold), and 10 kilometers north of Cerro Casale, jointly owned by Kinross and Barrick.
Investors are advised to keep digging. . .and unearth some of the best picks.