Great event on Fox Funnies Saturday. Elizabeth MacDonald poo poed New Gold as a stock to buy. “Gold is dropping off the face of the Earth” or something like that. Back when Rob bought US Gold and asked me how I became largest investor by July 2005? I told him I was watching Fox Bulls and Bears in April 2004 when Ben Stein said,” Gold at $500? Not in my lifetime!” Seemed to be the perfect contrarian idiotic comment by a know nothing wise guy. Next summer as McEwen took over USGL and freed GORO to begin mining it rose to $600 , never looked back and near straight up for 6 years to $1900. Thank you Ben! Same for Liz I’ll hope to say. 8
The news event?
“New Gold announced yesterday that it has signed a $175 million streaming agreement with Royal Gold (RGLD) on its Rainy River project in Ontario, Canada.
New Gold will receive $100 million on signing with the remaining $75 million to be paid at 60% project completion, expected in mid-2016, according to the company’s statement.”
PR; July 28 is hard to toss in file 13 with “Gold and miners are down” , Liz. When do you buy your stocks? Bad news and at the top? 8
http://www.kitco.com/pr/frame/index_prec.html?http://www.kitco.com/pr/1738/article_07282015172825.pdf