Best of the Week
Most Popular
1. US Housing Market Real Estate Crash The Next Shoe To Drop – Part II - Chris_Vermeulen
2.The Coronavirus Greatest Economic Depression in History? - Nadeem_Walayat
3.US Real Estate Housing Market Crash Is The Next Shoe To Drop - Chris_Vermeulen
4.Coronavirus Stock Market Trend Implications and AI Mega-trend Stocks Buying Levels - Nadeem_Walayat
5. Are Coronavirus Death Statistics Exaggerated? Worse than Seasonal Flu or Not?- Nadeem_Walayat
6.Coronavirus Stock Market Trend Implications, Global Recession and AI Stocks Buying Levels - Nadeem_Walayat
7.US Fourth Turning Accelerating Towards Debt Climax - James_Quinn
8.Dow Stock Market Trend Analysis and Forecast - Nadeem_Walayat
9.Britain's FAKE Coronavirus Death Statistics Exposed - Nadeem_Walayat
10.Commodity Markets Crash Catastrophe Charts - Rambus_Chartology
Last 7 days
Silver Notches Best Month Since 1979 - 12th Aug 20
Silver Shorts Get Squeezed Hard… What’s Next? - 12th Aug 20
A Tale of Two Precious Metal Bulls - 12th Aug 20
Stock Market Melt-Up Continues While Precious Metals Warn of Risks - 12th Aug 20
How Does the Gold Fit the Corona World? - 12th Aug 20
3 (free) ways to ride next big wave in EURUSD, USDJPY, gold, silver and more - 12th Aug 20
A Simple Way to Preserve Your Wealth Amid Uncertainty - 11th Aug 20
Precious Metals Complex Impulse Move : Where Is next Resistance? - 11th Aug 20
Gold Miners Junior Stcks Buying Spree - 11th Aug 20
Has the Fed Let the Inflation Genie Out of the Bottle? - 10th Aug 20
The Strange Food Trend That’s Making Investors Rich - 10th Aug 20
Supply & Demand For Money – The End of Inflation? - 10th Aug 20
Revisiting Our Silver and Gold Predictions – Get Ready For Higher Prices - 10th Aug 20
Storm Clouds Are Gathering for a Major Stock and Commodity Markets Downturn - 10th Aug 20
A 90-Year-Old Stock Market Investment Insight That's Relevant in 2020 - 10th Aug 20
Debt and Dollar Collapse Leading to Potential Stock Market Melt-Up, - 10th Aug 20
Coronavirus: UK Parents Demand ALL Schools OPEN September, 7 Million Children Abandoned by Teachers - 9th Aug 20
Computer GPU Fans Not Spinning Quick FIX - Sticky Fans Solution - 9th Aug 20
Find the Best Speech Converter for You - 9th Aug 20
Silver Bull Market Update - 7th Aug 20
This Inflation-Adjusted Silver Chart Tells An Interesting Story - 7th Aug 20
The Great American Housing Boom Has Begun - 7th Aug 20
NATURAL GAS BEGINS UPSIDE BREAKOUT MOVE - 7th Aug 20
Know About Lotteries With The Best Odds Of Winning - 7th Aug 20
Could Gold Price Reach $7,000 by 2030? - 6th Aug 20
Bananas for All! Keep Dancing… FOMC - 6th Aug 20
How to Do Bets During This Time - 6th Aug 20
How to develop your stock trading strategy - 6th Aug 20
Stock Investors What to do if Trump Bans TikTok - 5th Aug 20
Gold Trifecta of Key Signals for Gold Mining Stocks - 5th Aug 20
ARE YOU LOVING YOUR SERVITUDE? - 5th Aug 20
Stock Market Uptrend Continues? - 4th Aug 20
The Dimensions of Covid-19: The Hong Kong Flu Redux - 4th Aug 20
High Yield Junk Bonds Are Hot Again -- Despite Warning Signs - 4th Aug 20
Gold Stocks Autumn Rally - 4th Aug 20
“Government Sachs” Is Worried About the Federal Reserve Note - 4th Aug 20
Gold Miners Still Pushing That Cart of Rocks Up Hill - 4th Aug 20
UK Government to Cancel Christmas - Crazy Covid Eid 2020! - 4th Aug 20
Covid-19 Exposes NHS Institutional Racism Against Black and Asian Staff and Patients - 4th Aug 20
How Sony Is Fueling the Computer Vision Boom - 3rd Aug 20
Computer Gaming System Rig Top Tips For 6 Years Future Proofing Build Spec - 3rd Aug 20
Cornwwall Bude Caravan Park Holidays 2020 - Look Inside Holiday Resort Caravan - 3rd Aug 20
UK Caravan Park Holidays 2020 Review - Hoseasons Cayton Bay North East England - 3rd Aug 20
Best Travel Bags for 2020 Summer Holidays , Back Sling packs, water proof, money belt and tactical - 3rd Aug 20
Precious Metals Warn Of Increased Volatility Ahead - 2nd Aug 20
The Key USDX Sign for Gold and Silver - 2nd Aug 20
Corona Crisis Will Have Lasting Impact on Gold Market - 2nd Aug 20
Gold & Silver: Two Pictures - 1st Aug 20
The Bullish Case for Stocks Isn't Over Yet - 1st Aug 20
Is Gold Price Action Warning Of Imminent Monetary Collapse - Part 2? - 1st Aug 20
Will America Accept the World's Worst Pandemic Response Government - 1st Aug 20
Stock Market Technical Patterns, Future Expectations and More – Part II - 1st Aug 20
Trump White House Accelerating Toward a US Dollar Crisis - 31st Jul 20
Why US Commercial Real Estate is Set to Get Slammed - 31st Jul 20
Gold Price Blows Through Upside Resistance - The Chase Is On - 31st Jul 20
Is Crude Oil Price Setting Up for a Waterfall Decline? - 31st Jul 20
Stock Market Technical Patterns, Future Expectations and More - 30th Jul 20
Why Big Money Is Already Pouring Into Edge Computing Tech Stocks - 30th Jul 20
Economic and Geopolitical Worries Fuel Gold’s Rally - 30th Jul 20
How to Finance an Investment Property - 30th Jul 20
I Hate Banks - Including Goldman Sachs - 29th Jul 20
NASDAQ Stock Market Double Top & Price Channels Suggest Pending Price Correction - 29th Jul 20
Silver Price Surge Leaves Naysayers in the Dust - 29th Jul 20
UK Supermarket Covid-19 Shop - Few Masks, Lack of Social Distancing (Tesco) - 29th Jul 20
Budgie Clipped Wings, How Long Before it Can Fly Again? - 29th Jul 20
How To Take Advantage Of Tesla's 400% Stock Surge - 29th Jul 20
Gold Makes Record High and Targets $6,000 in New Bull Cycle - 28th Jul 20
Gold Strong Signal For A Secular Bull Market - 28th Jul 20
Anatomy of a Gold and Silver Precious Metals Bull Market - 28th Jul 20
Shopify Is Seizing an $80 Billion Pot of Gold - 28th Jul 20
Stock Market Minor Correction Underway - 28th Jul 20
Why College Is Never Coming Back - 27th Jul 20
Stocks Disconnect from Economy, Gold Responds - 27th Jul 20
Silver Begins Big Upside Rally Attempt - 27th Jul 20
The Gold and Silver Markets Have Changed… What About You? - 27th Jul 20
Google, Apple And Amazon Are Leading A $30 Trillion Assault On Wall Street - 27th Jul 20
This Stock Market Indicator Reaches "Lowest Level in Nearly 20 Years" - 26th Jul 20
New Wave of Economic Stimulus Lifts Gold Price - 26th Jul 20
Stock Market Slow Grind Higher Above the Early June Stock Highs - 26th Jul 20
How High Will Silver Go? - 25th Jul 20
If You Own Gold, Look Out Below - 25th Jul 20
Crude Oil and Energy Sets Up Near Major Resistance – Breakdown Pending - 25th Jul 20
FREE Access to Premium Market Forecasts by Elliott Wave International - 25th Jul 20
The Promise of Silver as August Approaches: Accumulation and Conversation - 25th Jul 20
The Silver Bull Gateway is at Hand - 24th Jul 20
The Prospects of S&P 500 Above the Early June Highs - 24th Jul 20
How Silver Could Surpass Its All-Time High - 24th Jul 20

Market Oracle FREE Newsletter

How to Get Rich Investing in Stocks by Riding the Electron Wave

The Raging Bull Market in Resources

Commodities / Resources Investing Aug 22, 2009 - 12:55 AM GMT

By: The_Gold_Report

Commodities

Best Financial Markets Analysis ArticleInvestors who picked up on Victor Gonçalves' resource stock picks late last year have realized gains of up to 800%, so the views he shares in this exclusive Gold Report interview may prove profitable to consider. After all, quips the Equities & Economics Report producer, "Walking away with money is what you want to do." Victor considers the resource sector "the best place to be"—in fact, he says we're "just short of a raging bull." Investors might want to use his insights on a couple of well-positioned juniors to take advantage if his predictions again pan out.


The Gold Report: Since starting your Equities & Economics Report, you have called several market sector tops correctly. These days, some experts are saying, "We're going to have a pullback before year-end. Get ready, go to cash." Others claim we're coming out of recession and the economy is in recovery. How do you view what is happening today?

Victor Gonçalves: With the way the economy's going right now, it's a bit of both. You've got to consider the long-term and short-term cycles. When the big crash came not too long ago, we saw drops as much as 80% to 85% on certain exchanges and 50% to 60% on others. That's as bad as the crash that threw us into a 20-year depression.

I've gone back and looked at similar situations historically. Obviously, the '29 crash was first on my list. But I also looked at Japan's scenario. These two played out a little bit differently but had some very similar notes. Both economies crashed, with equities losing most of their value—let's call it 90% for a round number. The U.S. economy rebounded eventually; the Japanese never did. So consider the differences.

I do believe in Keynesian economics, and I believe the big reason for the major rebound in the U.S. goes back to the introduction of the New Deal. As much as people criticize it, the Eisenhower highway system was built, power grids were expanded—as well as other initiatives. The U.S. economy was expanded greatly, and it was debt-financed. Basically the debt-to-GDP ratio went up as high as 125% in that time. The reason why I say this is right after that, the American people and government started saving and kept saving. So, from a high of 125% debt-to-GDP in the late '40s and early '50s, it got back to pre-war levels, in the 30% range.

TGR: Wasn't World War II part of that too?

VG: The war was part of it, yes, and brought the debt-to- GDP ratio to around 60% to 70% from around 30%. The important point, though, is the savings. It wasn't a credit society. Keynesian economics can and does work if you deficit spend to stimulate the economy with productive goods and then put some savings aside. You pay back your debt. That's what happened in the U.S.

TGR: Which way do you expect the inflationary-deflationary pendulum to swing this time?

VG: As of now, I don't know if the U.S. is going to go inflationary or deflationary. Currently, there is definitely going to be some inflationary pressure just due to the sheer amount of paper that is being printed and debt that's incurred to make all this happen. I'm suspecting that not today or tomorrow or the next couple of years, but if we go down the route of Japan, we probably will go deflationary. The long-term perspective is anyone's guess.

TGR: Some people argue that even though we've injected a lot of money into the system, it's gone into the banking system but hasn't made it out to the general population.

VG: There's a difference between monetary inflation and price inflation. Sometimes they spark each other, but they can be two very different things. For example, in the States in the past seven or eight years, when you consider monetary inflation, there's been an annual inflation rate of about 7% to 8%, but price inflation obviously hasn't been nearly that much. That's because a lot of printing was going on during the Bush administration, from basically '01 to '08. So we had monetary inflation without the price inflation. We really saw the price inflation only toward the end of that period, when oil and other commodities really starting taking off and filtering down to what you and I buy at the grocery store.

TGR: And then deflation started creeping in.

VG: We did see deflationary pressures due to lack of demand, i.e., oil, commodities in general, labor, and so on. In mining companies, it's a classic example. The price of drilling a foot of core has gone down something like 30% because the price of oil and cost of labor are way down. People are willing to work for less. In terms of money going into the system, there's certainly more and more money being printed. So we'll see monetary inflation but also see price deflation just due to lack of demand.

TGR: Under these circumstances, are you expecting the market to pull back or just kind of stay in the trading range it's been in recently?

VG: From the bottom last year to where they end up, I basically think the markets have room for a full 100% bounce. Whether that happens is a different story, but historically speaking we've got the makings for that kind of move. This summer we should have seen a pullback as we normally do in the summer. That would have sparked a downleg, which is part of these cycles. You will get a major bounce—some people call that a dead cat bounce—and you will get a re-test of the lows. We didn't see that this summer; in fact, we saw some impressive highs in some markets. If these things hold, I suspect we will see continued strength in the market.

But that will come to an end at a certain point. We're fundamentally worse off as an economy than a year ago. The markets are 80% higher; so there's obviously a discrepancy there that has to get reconciled. I don't think that's going to happen yet. I think we have the makings to continue this bull. But I would caution people that there's not much room left, maybe 20%. Mind you, a lot of money can be made in this 20%. And then we will see a re-test of the lows.

TGR: Would that be 20% of all sectors?

VG: No, I'd say it's 20% overall. The resource sector will do proportionately better and consumer staples will do well, but luxury goods and other wonderful things people can't afford now will go down or at least stagnate. Toronto—where I am—probably will see a stronger run because commodity prices have rallied quite strongly, and I don't think stocks have really fully reflected the rally we've seen in the metals.

TGR: How do you then see playing this market?

VG: The resource sector is the best place to be at the moment, with nickel at nearly $10; gold flirting with $1,000 and copper close to $3. We're seeing just short of a raging bull on the resource side; so I would definitely be there.

TGR: If the market turns, will the resource sector, turn with it?

VG: I think so, but it will be a delayed effect. Last year, copper didn't fall off a cliff until we were well into this whole collapse because it wasn't the resource sector that led it. It was the banking systems. The resource sector took a fall because of lower demand and slowing growth, but also because some of the planned growth couldn't get executed because they just couldn't get their hands on materials. You need large amounts of credit to secure a load of ore or coal or whatnot and ship it.

TGR: Are there certain segments of the resource sector that you anticipate doing better than others?

VG: Sure, there are definitely sectors that will do better than others. I have talked to a lot of my colleagues, and people like base metals right now. I was of the opinion months ago that base metals were nice. I'm getting a little more cautious because they've actually broken through what I consider the fair value prices. They can keep going for a really long time before they correct to where they're supposed to be. I suspect that specialty metals—the rare earths, tantalums and many of the "iums" such as iodium, lithium, zirconium, cerium, Terbium, Dysprosium, germanium, niobium—are set to do really well. As for gold, I think it's do-or-die right now. It's either going to really move or peter out, and I think it's really going to move. There are certainly some factors that are saying it's going to move.

TGR: In one of your blogs you said gold should hit $1,000 this summer, but it's been trading in a very tight, narrow range the whole time.

VG: That's true, it has. And it hasn't quite reached the $1,000. It's been right around that level, but hasn't broken it. Part of what my readers enjoy is that I don't give them insanely complicated ways of finding things out. I go back to the basics. Supply and demand is a good start. All you have to do is look at the pricing historically and the supply and demand. When I was doing a thorough review of their numbers back in June, as I do a couple of times a year, I saw the price of gold year-over-year was 2% lower. Demand was up 38%. That normally doesn't make a lot of sense, so I did some quick back-of-the-envelope calculations to see where the price of gold should end up in relation to the increased demand. In theory, it should be $1,273, and I suspect it will get there.

The economics of it and the numbers—the supply and demand—will come forward at the end of the day. It will happen. And then I think gold will see the next leg, about $1,300, when we get the next pullback in the market. Whether that's right away or later in the year we'll leave to our crystal balls.

TGR: Tell us a little bit about investing in gold as a physical metal, either through ETFs or actually owning the coins or bullion, versus equities.

VG: Owning physical gold does make sense. If the market were to tank tomorrow the way it did last year, shares are shares and if everybody is making a run for the door, they will sell anything liquid. Physical gold, not so much. So if we have another market collapse, gold is good to hold.

There are a lot of arguments as to the right amount to hold; it just depends on how risk-tolerant you are and what you think the market is going to do. I personally lean a little more to the risky side, so I tend to hold more on the equities. I like to keep between 10% and 15% in physical gold. But even then it's not so much a matter of how much gold you keep in your portfolio; it's how much cash you keep. If you had a lot of cash last November and December, buying gold wouldn't have done much for you, but if you'd put it into resource stocks it would have done you a world of good. You'd be up 500%, 600%, 800% right now; some of my picks have been terrific in that regard.

So what I suggest is to keep a core gold position; it need not be very big. Right now, keep cash, because that's what you can use to buy the market when it tanks, because I believe when it tanks again, we will still see another rally.

TGR: So should investors take their profits, sell and convert to cash now?

VG: I wouldn't sell yet. On companies that are making 52-week highs or running absolutely crazy without a lot of reasons to do so, by all means, get out. If you also have seen a 5- or 10-fold appreciation of your money in these companies, sell your initial investment or even half of it. After all, walking away with money is what you want to do. So, for people who are a little more risk-averse, I would take some profits at this point, yes, but I wouldn't go gangbusters because I do think come September we should see a continued move to the upside. That's barring no more shoes drop; I don't think they'll come yet, but they are due for sure.

TGR: You indicated that some of your stocks have gone up as much as 800%. Are you recommending people take money off the table or keep going because you're looking for this market rally to continue for at least a month or so?

VG: That depends on what a company has planned. A lot of the companies with those returns have been juniors, which are dependent on another factor that the majors aren't so dependent on. A new gold discovery by Teck Cominco Ltd. (TSX:TCK.A) (TSX:TCK.B) (NYSE:TCK) or Goldcorp (TSX:G) (NYSE:GG) isn't going to have a huge impact on the share price, because it is already worth a lot. But a multi-million ounce discovery in a junior company is revolutionizing for that particular company. It's worthwhile holding onto that, because as the market has gotten a lot less risk-averse they're willing to pay for such things. So hold companies poised for growth; definitely take profits companies that had their major push and are now coasting. There's nothing wrong with having money in your jeans.

TGR: Do you have any juniors you'd say are worth investing in now?

VG: One I've been following for quite a while is Kent Exploration Inc. (TSX.V:KEX). The first Kent project I ever looked at I found on their website when I was looking for some new companies to consider, where I saw historical drill results such as 1.5 ounces of gold over 40 and 60 feet—significant intersections. So I went and formally met Graeme (O'Neill), the CEO, and chatted with him. They subsequently figured out that project had a historic resource 1.2 million tons of barite. Graeme decided that, "While the going is good, let's get a purchase order for the barite. Let's get it out on the market. Let's get a cash flow for the company." And I think that's golden—no pun intended.

TGR: Even though other means of financing may be available now.

VG: Yes. People can raise money again. How soon we forget how bad it was, even just last October.

TGR: What kind of money are you talking about?

VG: If all goes well, Kent could have anywhere from $800,000 to $1.2 million a year in cash flow from their property in Washington State. That's very significant.

TGR: Do they have anything else going on?

VG: Kent's been making a lot of news lately about what they've been doing in New Zealand and Australia. And those projects I find quite significant and interesting too. At the Reefton mining camp in New Zealand, they acquired the Alexander River property, with 643,000 ounces of gold on it. It is reasonably high grade; the American conversion is about 0.2 ounces a ton. They have a bit of an inferred resource that they can start working with. This is already a mature mining camp. To date there's been more than 100 mines in the area—10 million ounces of placer gold has been mined, plus two million ounces of hard rock gold. By the looks of it, there's plenty more to go; this is like a Val d'Or, so there's no telling how much gold is going to come out of there. They won't be done anytime soon. That's what Kent has been making a ruckus about. At this point; I don't think the market's really digested exactly how significant this can be.

TGR: You mentioned Australia also.

VG: Yes. Kent has also been talking about the Gnaweeda project they've got an option agreement on with Teck Australia. That one is a little more grassroots than the property in New Zealand, but it's very interesting. The area has produced 3.5 million ounces of gold already; it's hard rock and not too deep. It's in a greenstone belt. It has all the right makings for a significant discovery, and that's what they're gearing for.

The fact that Teck selected Kent for this is quite significant. Teck historically hasn't taken just any junior on as a partner; you've got to be pretty savvy and a really good company. It is incredible that Kent has a $2.9 million market cap for, let's say, 650,000 ounces of gold on one project, a potential $1 million annual cash flow on another project, and less than 30 million shares outstanding. It just doesn't make sense to be trading at 9 cents or 10 cents per share. It's screaming at me that it's worth a definite look. I recommended it as far back as 3 cents and 3.5 cents, and it's gone up as high as 17 cents. There definitely have been some good days so far, but I think it's in the infancy of its whole potential.

TGR: Are there other companies where the market hasn't quite priced in the gold in the ground?

VG: It's not gold in the ground per se, but the incredible potential of what they have going. Take Midland Exploration Inc. (TSX.V:MD), for example. Its claim to fame recently, which I think is very significant, is their 50-50 deal with Osisko Mining Corp. (TSX:OSK) on Midland's Dunn gold property. The really cool part is that for every percent more Osisko wants to increase its interest, up to 65%, they have to pay $1 million or incur that amount in terms of exploration. So Midland essentially gets most of this project paid for. This year, Osisko already announced a $540,000 work program on this property.

And if you consider the "big fish/small fish" effect, Goldcorp (coincidentally enough) has taken a 13% interest in Osisko. So now there's the big cap, the mid-tier and the small company all in one bed, if you will, which I think will be quite beneficial to Midland. Midland has a lot of other projects which we could spend all day talking about. Agnico-Eagle Mines (TSX:AEM) is spending about $1 million, a good chunk of change, on Midland's Maritime Cadillac Property. That looks quite interesting in terms of some of the intersections they've received.

TGR: That's quite a story.

VG: Yes—and there's more. Midland hasn't done any financing since going public a couple of years ago. They still have $3.5 million in the till and 21 million shares out. With their burn rate, they won't need to raise another dime anytime soon. Others are going to pay for all the discoveries Midland makes; they get basically a carried interest in everything for just finding the projects, getting them to drill-ready state, and moving it forward. As a result, Midland shareholders get to see some very significant potential. Even during the market meltdown, the stock price only got cut in half whereas most other companies' dropped 80% or 90%.

That just goes to show that the market believes that this company has what it takes to have some significant discoveries. That being said, I don't think it's fully valued. With a market cap of $16 million, if you extrapolate the $3.5 million of cash, you're basically saying that their projects—primarily these two ventures—are worth only $12 million. Not in my books they're not.

TGR: Earlier you indicated that you expect certain specialty metals to do well. Haven't you just recently come back from a site visit to the Commerce Resources Corp. (TSX.V:CCE) (PK SHEETS:CMRZF) tantalum and niobium project?

VG: I did. It was quite fascinating. Blue River, British Columbia, is a beautiful town and a prime candidate for a company like Commerce, which will be in a position to give a lot of people jobs when they get into development. First of all, Dave Hodge (Commerce President) identified the tantalum markets well before anyone knew what tantalum was and really saw the potential. We've seen a huge demand increase for tantalum for things like Blackberrys and electronics in general. I think we can expect even more demand for tantalum in green applications, because it can be used to reduce heat in capacitors or generators that are used in windmills and so on. So I'd say Commerce definitely has the wind at its back with regards to the metal.

Some people say that the fact that the economy has slowed can't be very good for the tantalum market. That's a valid statement in terms of the demand side, but the supply side has changed quite a bit, too. A couple of major tantalum mines have shut down, including one in Australia that provided 30% of the market. That will have a huge impact, plus there's the unethical mining going on in the Congo, which is basically slave and child labor being used to mine a lot of high-grade stuff, which is reportedly going to run out fairly soon. Considering the slowed-down economy and probably a 50% reduction in supply, you're going to come out with a net increase in the demand for the metal. That bodes well for the price of the metal, and for Commerce.

Also working in Commerce's favor is Dave Hodge's ability to build teams. That's his strength. For instance, he brought on Axel Hoppe, previously a high-ranking executive with H.C. Starck, one of the world's leading tantalum buyers. When you bring a person like that to your exploration company, there's a very large synergy that people would probably kill for. So Commerce now has direct, open access to a vast number of end users, and they may be able to capitalize on that. This is part of the beauty about Commerce, and why I assign such a high value to the enterprise because they have this ability of foresight that I haven't seen in a lot of companies.

And of course, metallurgically speaking, the project is fantastic. The resource is great. It's half the grade of typical tantalum mines, but don't let that fool you, because it's twice the recoverability. Most mines can recover only 45% of the tantalum or so, versus 95% or 98% for Commerce. They've gone gangbusters drilling. They spent $13 million last year, putting down a lot more drill holes. On the enterprise side of things, they've built a phenomenal team. As far as the environment is concerned, you can't really tell they're there in terms of on the project, and the community will want to keep this area very environmentally sound. So this is just a prime opportunity from just about every angle.

TGR: It sounds like they've got everything!

VG: There's tons more, but I'll cap it there. I'm quite enthusiastic about this.

TGR: What a nice, upbeat end to our conversation. Thank you, Victor.

VG: My pleasure.

DISCLOSURE: Victor Gonçalves I personally and/or my family own the following companies mentioned in this interview: Kent and Commerce I personally and/or my family am paid by the following companies mentioned in this interview: Commerce

A proud and avowed Keynesian, Victor Gonçalves developed a strong background in economics at the University of Winnipeg, where he served as a Professor's Assistant as well as earning his degree. His Equities and Economics Report has been accurately picking winners and calling market direction. In 2007, for instance, he correctly predicted the Dow Jones topping 14,000 points and pegged uranium reaching $136 per pound and many more. In addition to EER, Victor also produces the Green Dollar Report , as well as writes for a number of print and electronic publications including CIM Magazine (Canadian Institute of Mining), Western Standard, Barrons and Kitco. He also has been featured on BNN, Mining Industry TV and at numerous industry events and conferences.

Want to read more exclusive Gold Report interviews like this? Sign up for our free e-newsletter, and you'll learn when new articles have been published. To see a list of recent interviews with industry analysts and commentators, visit our Expert Insights page.

    The GOLD Report is Copyright © 2009 by Streetwise Inc. All rights are reserved. Streetwise Inc. hereby grants an unrestricted license to use or disseminate this copyrighted material only in whole (and always including this disclaimer), but never in part. The GOLD Report does not render investment advice and does not endorse or recommend the business, products, services or securities of any company mentioned in this report. From time to time, Streetwise Inc. directors, officers, employees or members of their families, as well as persons interviewed for articles on the site, may have a long or short position in securities mentioned and may make purchases and/or sales of those securities in the open market or otherwise.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules