Michael Ballanger expounds on the Goldcorp/Kaminak deal and what it means for the gold market, and he dissects the most recent COT report.
by Michael J. Ballanger
The Gold Report
I was emailing back and forth with my pal Brien Lundin, editor of Gold Newsletter, this week and as we were basking in the limelight of analytical brilliance, it occurred to me that having a stock that many of us own, Kaminak Gold Corp. (KAM:TSX.V), suddenly the target of a $520,000,000 bid by a major mining company, Goldcorp Inc. (G:TSX; GG:NYSE), is exactly how proper analysis should be rewarded. At least, that’s how we were taught, to say the least. To wit, this event is truly a significant watershed and a concrete block of confirmation that the New Golden Bull has arrived. Whether or not you are a raving foam-in-the-mouth bull, or a patient hiding-under-the-desk bull (as am I), Goldcorp’s bravado is a wonderful thing to behold and would have made Harry Callahan proud.