China Government’s Secret New Gold Investment
by Travis Johnson, Stock Gumshoe | July 31, 2009 11:05 am
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Jinshan has had their large find and a second one for two years or so and their stock has steadliy dropped since a breakdown of equipment, since replaced, and since Ivanhoe sold out to the State. Most if not all Canadians are removed from the boards leadership and with no requirement for reporting, something doesn’t feel right..just my opinion as a owner for 2 years. Jinshan supposely was going to breakout before milling broke down, since replaced and with the Chinese government hoarding gold, I don’t see any spike in prices. Go to Jinshan’s webpage and read the history. DYODD…and I am a Gold Bug.
I owned Jinshan 2 or 3 years ago by gleening its identity by researching a tease. Did very well with it and sold for a nice profit. Never considered it as anything other than a ‘trade’. My ‘China’ money is in CHL and FXI.
Jinshan was touted by Doug Casey about two years ago. Probably down 70% or so since then. Like anything else from China, you can not rely on the fundamentals so it is a technical play only.
I own Jinshan and Silvercorp, and have owned Sino. The first two were recommended by Doug Casey and Greg McCoach, the last by Matt Badialdi in a very strong pitch about three years ago-something about if it doesn’t double or so by the end of the year you can get your money back. It didn’t. then, nor since then, but probably will move when Au crosses 1000. I still own Jinshan, but am deep in the hole. It will probably mine much gold, but with their operational problems, as well as change of ownership and management, the real issue may be the extent to which investors will benefit from the results. Silvercorp was at least a five bagger several years ago. Now that it is back down, I’m back in to see if it will repeat.
I just listened to a looong video from these guys – “The Biggest Secret in China”. Predicting a massive currency war play from China on or before April 24th. Would love to hear Gumshoe thoughts!