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December 3, 2009 / Jeb

U.S. Gold (UXG) Results From El Gallo and Breakout From Triangle

A breakout of a symmetrical triangle on good volume.

Investor demand is picking up.

The El Gallo Silver discovery was made about a year ago so more results should be coming out soon as they started the drilling season at the end of October according to their last press release.  They are drilling a large area for exploration.

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9 Comments

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  1. lou / Dec 3 2009 9:38 pm

    the chinese ive read were telling their people to buy gold now they are talking about a bubble in gold…… what do you presume will happen now? do you expect a correction ? now that the chinese talk about a bubble could it be that this gold run is over for thsis year? im just REALLY surprised that the chinese would advocate buying gold to their citizens and then shortly after say that their could be a bubble in gold that could pop soon…..what gives? i know one day does not a market make but what the chinese are saying seems like they are stabbing themselves in the back……

    • Anticipate Opportunities / Dec 3 2009 10:52 pm

      Lou,

      Gold is overbought and I am adding to other positions which are finding support such as moly and uranium.

  2. lou / Dec 3 2009 11:35 pm

    thanks

  3. lou / Dec 7 2009 6:51 pm

    when can we expect this correction to end?

  4. lou / Dec 8 2009 5:59 pm

    another great site – gives info on the daily weekly monthly movement of gold/silver for those of you that need daily info so you keep yourself informed and a little more sane on whats going on in the gold and silver market—- GOLDTRENDS.NET

  5. Clint / Dec 14 2009 2:44 pm

    UXG is doing terrible. Any news on this stock that can explain this?

    • Anticipate Opportunities / Dec 14 2009 4:11 pm

      They are permitting a larger area for El gallo. This is delaying drilling results.

  6. Trond / Dec 15 2009 12:13 am

    Does it mean that they have not been drilling lately, or that drilling conducted but results delayed?

    In this speech to the shareholders meeting in June McEwen mentions that they had discovered gold in several surface samples collected from a quite wide area, with an average content of 1/4 oz per ton, at an adjacent location close to El Gallo – ‘El Thule’, and that they planned to start drilling there in 3rd quarter.
    Hence confirmation should be quite likely, because there can’t be gold only on the surface, and not beneath?

    http://www.usgold.com/news-article/273/

    Seems like miners in general don’t publicise unsuccessful drills, only those that yield some results. But then insiders with knowledge about empty holes can sell out while other shareholders are waiting for the results..

    • Anticipate Opportunities / Dec 15 2009 9:45 pm

      They were delayed in order to permit a larger area to confirm expansion. I would be patient…as I believe drilling has started later than planned.

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