Gold Financing Glut
GoldSeek.com lists some of the latest precious metal financings.
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We would add to that the closed financing by Central Fund of Canada for US$130 million. There have also been some major bullion purchases by the ETFs in 2009. CommodityOnline.com reports that in 24 2009 trading days, the major ETFs have taken up some $3.1 billion in 111 tonnes of gold.
While I'm as bullish as the next guy on gold (OK not GATA bullish), I think we're in the 7th inning of the current gold move.
- Newmont announced a $1.2 billion equity issue
- Kinross Gold – $360 million
- Silver Wheaton - $250 million
- Red Back Mining - $150 million
- Endeavour Financial - $100 million
- Alamos Gold - $75 million
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Don't forget to check out our latest research report.
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We would add to that the closed financing by Central Fund of Canada for US$130 million. There have also been some major bullion purchases by the ETFs in 2009. CommodityOnline.com reports that in 24 2009 trading days, the major ETFs have taken up some $3.1 billion in 111 tonnes of gold.
While I'm as bullish as the next guy on gold (OK not GATA bullish), I think we're in the 7th inning of the current gold move.