By Doug Alexander
Bloomberg News Service
Monday, March 6, 2006
http://www.bloomberg.com/apps/news?pid=10000102&sid=aB30yaL0GkGU [1]
TORONTO -- Gold prices may reach $2,000 an ounce by 2010 on demand
for an alternative to currencies, U.S. Gold Corp. Chief Executive
Officer Robert McEwen said.
"You have much more money than there is gold, and as people see
their currencies falling relative to gold, they're going to be
saying 'Maybe I should have some of this,'" McEwen, the former CEO
of Goldcorp Inc., said today after a presentation at a mining
conference in Toronto. "And you have an industry that's
consolidated, so you have less product and more buying."
McEwen is betting he will find a large gold deposit in Nevada
between properties owned by Barrick Gold Corp. and Newmont Mining
Corp. U.S. Gold yesterday made hostile bids for four exploration
companies near its Tonkin Springs property in Nevada's Cortez Hills
Trend region. Gold reached a 25-year high last month of $579.50 on
Feb. 2. The metal rose to a record $873 in January 1980.
"There's the opportunity to create the premiere exploration company
in Nevada by having a large land package with good liquid trading
and a large exploration program," McEwen, 55, said. U.S. Gold is
based in Lakewood, Colorado.
U.S. Gold's site would encompass a 36 square-mile area near the
Cortez Hills property to be acquired by Barrick after completing a
$10.1 billion takeover of Placer Dome Inc. Mining companies are
buying rivals as new reserves become more difficult to find.
"I think we have a really good shot, and multiple shots, of finding
another Cortez Hills discovery," McEwen said.
U.S. Gold is offering to buy White Night Resources Ltd., Nevada
Pacific Gold Ltd., Coral Gold Resources Ltd. and Tone Resources Ltd.
for a combined $266.7 million in stock. U.S. Gold, which raised $75
million last month from investors, plans to spend $30 million in the
next two years to explore for gold on Tonkin Springs.
Shares of U.S. Gold rose 59 cents, or 10 percent, to $6.24 over the
counter. They have gained 81 percent this year.
McEwen stepped down as Goldcorp CEO a year ago after the mining
company combined with Wheaton River Minerals Ltd. Ian Telfer,
Wheaton's CEO, took over the combined company.
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http://www.cbs.marketwatch.com [5]
http://www.gold-eagle.com/ [7]
http://www.usagold.com/amk/usagoldmarketupdate.html [10]
http://www.GoldReview.com/ [12]
http://www.capitalupdates.com/ [13]
http://www.DailyReckoning.com [14]
http://www.goldenbar.com/ [15]
http://www.silver-investor.com [16]
http://www.thebulliondesk.com/ [17]
http://www.sharelynx.com/ [18]
http://www.mininglife.com/ [19]
http://www.financialsense.com [20]
http://www.goldensextant.com [21]
http://www.goldismoney.info/index.html [22]
http://www.howestreet.com [23]
http://www.depression2.tv [24]
http://www.moneyfiles.org/ [25]
http://www.howestreet.com [23]
http://www.minersmanual.com/minernews.html [26]
http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.html [27]
http://www.goldcolony.com [28]
http://www.miningstocks.com [29]
http://www.mineralstox.com [30]
http://www.freemarketnews.com [31]
http://www.SilverSeek.com [33]
http://www.investmentrarities.com [34]
http://www.kereport.com [35]
(Korelin Business Report -- audio)
http://www.plata.com.mx/plata/home.htm [36]
(In Spanish)
http://www.plata.com.mx/plata/plata/english.htm [37]
(In English)
http://www.resourceinvestor.com [38]
http://www.prudentbear.com [40]
http://www.dollarcollapse.com [41]
http://www.kitcocasey.com [42]
http://000999.forumactif.com/ [43]
http://www.golddrivers.com/ [44]
http://www.goldpennystocks.com/ [45]
http://www.oroyfinanzas.com/ [46]
Subscription sites:
http://www.lemetropolecafe.com/ [47]
http://www.goldinsider.com/ [48]
http://www.interventionalanalysis.com [50]
http://www.investmentindicators.com/ [51]
Eagle Ranch discussion site:
http://os2eagle.net/checksum.htm [52]
Ted Butler silver commentary archive:
http://www.investmentrarities.com/ [53]
----------------------------------------------------
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1-888-218-9226, 931-766-6066
----------------------------------------------------
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