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Re: Gold bugs crow as the yellow metal breaks through $2,500 per ounce to set fresh all-time highs 

By: De_Composed in 6TH POPE | Recommend this post (1)
Sat, 17 Aug 24 5:37 PM | 24 view(s)
Boardmark this board | 6th Edition Pope Board 		Msg. 56734 of 60008
(This msg. is a reply to 56727 by Beldin)
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Beldin:

Re: “I just wish silver prices would climb a little faster, too. ”Sometime around 2004, I attended a shareholders' meeting for Golden Phoenix minerals (GPXM). It was a very small company that operated a gold mine in Nevada. The next day, they chartered a bus and shareholders who had signed up were given a tour of the mine. At the end, they showed their smelting process in which they separated gold from silver and other byproducts.

It was there that I learned that silver is an extremely common byproduct of almost all mining. We are all told that it is scarce, but I think the truth is that hardly anyone mines for silver because they can get it while going for more valuable metals. I didn't buy any more silver after that. I concluded that if silver ever really jumped in price, a bunch of silver mines would open and establish a ceiling for the metal that was far lower than most silver bugs believe. But I also had quite a bit, bought on the last day that silver ever saw $4.80/oz. It was a very well-timed purchase.

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Re: Gold bugs crow as the yellow metal breaks through $2,500 per ounce to set fresh all-time highs
By: Beldin in 6TH POPE
Sat, 17 Aug 24 3:42 PM 		Msg. 56727 of 60008

I'm glad to see it ... my gold holdings are doing quite nicely. I just wish silver prices would climb a little faster, too. 

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