Try holding MDM and Oromin, both seem to be run by complete muppets….every thing else rockets and these two sit like an ugly date at the dance, all alone and unloved. Back to the bottle……drink myself silly and go buy something else like IAMGOLD….and then when they buy MDM and OLE, I might see some real value materialise….

Muttley..Sometimes changing horses doesn’t always work out?I have sold off shares to buy Oromin and others..should have stayed with what we owned..BBR..CFO..GRL..and more..In this long might as well wait..Do some reserach there are other buys out there??But you have to do your own thing…..stay away from the bottle it doesn’t work either..I am sounding like a person that was there..Good luck..dsh

Federal Reserve chairman Ben Bernanke that the U.S. recession was (most likely over)…He was afraid to say it was really over…Want to buy a bridge..I have one for sale.What a croc of BS.The market sure doesn’t believe him with gold almost going through the roof..I am not saying its going to hold??.dsh

I think we should let this compamy know what we all think about the stock and the Company performance. I dont know how many readers are actually here…. but sounds like most are very dissappointed ( putting it kindly) w/ this company. It’s been so damn long w/ most of us…. and we are so low we cant sell now.
But listening in at the CC… it was ovvious mgmt is very arrogant, and not concerned w/ the retail investor one bit. And i think they believe they are doing well.
As I said…. dont think that many are here on this Blog… tho it is a very good one. But Ole has scared everyone w/ loss of interest. But I think we all should send e mails to the company letting them know what we think. Keep sending them…
I guess maybe if I was a newbie here, and bought at 8o cents… i would be fine.

By Byron King • September 16th, 2009 • Related Articles • Filed Under
About the Author

Byron KingByron King currently serves as an attorney in Pittsburgh, Pennsylvania. He received his Juris Doctor from the University of Pittsburgh School of Law in 1981 and is a cum laude graduate of Harvard University. Byron is also co-editor of Outstanding Investments.

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* The Chinese and the Fed Both Buying U.S. Treasury Bonds
* Stock Prices Down Signals Bears to Hold onto Cash, Treasuries and Gold
* Admonishment from China and the Decline of U.S. Credibility
* China Reduces Holdings of Treasury Securities
* The American Empire Depended on Trade…and the Dollar

Filed Under: Market • Precious Metals
Tags: Cheng Siwei • Chinese foreign reserves • credit easing • Energy & Scarcity Investor • fed • federal reserve • Gold • inflation • Standing Committee of the Communist Party • u.s. bonds

The UK Telegraph recently quoted at length Cheng Siwei, former vice chairman of the Standing Committee of the Chinese Communist Party. He explained how Beijing is dismayed by the “credit easing” coming out of the Federal Reserve.

“If they [the Fed] keep printing money to buy bonds,” said Mr. Cheng, “it will lead to inflation, and after a year or two, the dollar will fall hard. Most of our [Chinese] foreign reserves are in US bonds and this is very difficult to change, so we will diversify incremental reserves into euros, yen and other currencies.” Mr. Cheng was referring to over $2 trillion of Chinese foreign reserves, the world’s largest holding.

“Gold is definitely an alternative,” said Mr. Cheng, “but when we buy, the price goes up. We have to do it carefully so as not to stimulate the market.”

From Mr. Cheng’s lips to God’s ears – and now to ours. We have direct testimony from a high-level cadre that China, while cautious, is a key driving force in the gold market. China is buying.

We already knew that the Chinese are buying gold – and hoarding it. For example, China is the world’s largest gold-mining nation. China mines more gold each year than the US or South Africa. Yet what are the net gold exports from China? Umm…zero. That is, China doesn’t export gold (unless you buy a Panda coin or something.) Overall, in fact, China is a net importer of gold.

Sure, the Chinese use gold in industry, such as for electronics, jewelry and the like. But much of the rest of Chinese gold purchases go into state coffers, or into “off-books” storage. I’ll bet that there’s a lot of gold in “industrial stockpiles” in China, which are really just strategic monetary reserves for China’s Central Bank.

The implication from Mr. Cheng is that the Chinese will not overbuy gold, which may be why the yellow metal has hovered just below the $1,000 mark per ounce in recent weeks. At the same time, it’s more than likely that China will buy gold whenever there’s a price dip.

The significance is that the Chinese seem to be prepared to establish a floor under any correction in gold prices. This limits the downside for well-positioned gold miners such as we hold in the Energy & Scarcity Investor portfolio.

Is there an upper limit to gold prices? Well, I expect to see the gold price rise, but slowly and in a long series of plateaus. I also expect to see pullbacks, usually based on world monetary and political events.

So we’ll surely have some roller-coaster rides with the prices for the mining shares. How it all unfolds for us as investors will depend on when, and to what degree, monetary-driven inflation begins to bite into the economy. When it becomes totally obvious, it’ll probably be too late to protect and preserve your wealth and purchasing power.

The problem for us in the West is that most of the politicians and major media just DO NOT GET IT. Or at least, the ones that do “get it” generally don’t report things honestly to the citizens. They’re probably afraid of what might happen when the citizens really figure out how much the political classes have screwed up the world.

So you see these rosy-sounding headlines about how the economy is “improving” and things are “getting better.” Huh? What planet are these guys on?

The tide of inflation is rolling in. It’ll lift the boats of the gold miners.

Byron W. King
for The Daily Reckoning Australia

You notice that the Chairman for MDL puts out regular news letters to keep their supports/stockholders up-to-date. This Stock would be much higher if Chet did the same. I only see frustrated stockholders on this blog. Myself included. I have been in this conpany for 4 years, many of you alot longer. We need Chet to make a better effort….. no, wait, I should say he should make any kind of effort to keep up informed. With this stock its Kick the can down the road and hope.

Doublem2

Last 10 trades today
Time X Price Chg Vol Buyer Seller Markers
13:51:02 V 1.21 0.09 4,000 79 CIBC 7 TD Sec K
13:50:29 V 1.21 0.09 2,000 1 Anonymous 7 TD Sec K
13:45:08 V 1.21 0.09 3,000 7 TD Sec 7 TD Sec K
13:44:53 V 1.20 0.08 2,000 89 Raymond James 1 Anonymous K
13:38:31 V 1.19 0.07 1,000 89 Raymond James 7 TD Sec K
13:36:48 V 1.19 0.07 2,000 89 Raymond James 7 TD Sec K
13:36:40 V 1.19 0.07 2,000 1 Anonymous 7 TD Sec K
13:33:58 V 1.20 0.08 4,000 89 Raymond James 1 Anonymous K
13:33:58 V 1.20 0.08 1,000 89 Raymond James 88 Scotia iTRADE K
13:27:08 V 1.20 0.08 1,500 33 Canaccord 88 Scotia iTRADE K…..No its not OLE?Where are the wonder boy’s..on another worthless junkit??Glad I don’t have to rely on them..I would be in thepoor house..Been there done it.But I do own LGD & MMR..At least they have not completeley destroyed them.Just maybe they learned a lesson..oh is that’s asking to much?dsh

DSH, bad was expected and it wasn’t as bad as they thought, thus the dollar’s rise on “bad news”. The dollar has been weakening for the last couple of weeks on the expectation. This is just a temporary rise. The USD is still going to get screwed royally.