Couldn't see a thread for vgm following the transition from rvd and now producing gold at Vatukoula in Fiji. Looking to ramp up to a rate of 110,000 oz per annum by mid 2009 with current rate of production probably a little over 60,000 oz per annum.

Making good progress towards their targets.

hope you took profits yesterday.,.

......

Don't be silly.VGm prospects look great.

November 2010

43 Years of Stockmarket Experience writes...

Gold is at $1404 oz. Silver is at $27.90. The NAV of your fund has raced ahead in 62 weeks from 100p to 181.1206p and we hope that the best is yet to come, the fundamentals driving Golds rally are as strong as ever.

Gold is pushing upwards, and we believe that due to operational gearing the Fund will continue to do so too! Last week we saw 'Obamanomics' at its finest. After a trouncing in the Mid Terms, which will see Obamas flagship legislature unpicked by the Red House of Reps, and a now two year long period of bureaucratic stalemate, the Fed announced on Wednesday the clearing of the route for a second bout of Quantitative Easing. So the dollar will be devalued rapidly. And we believe that this is a process that has a couple of years to run. But no trading nation can afford its currency to be uncompetitive and so the G20 squabbles like ferrets in a sack as the great nations of the world engage in competitive devaluation.

The pickle that the US finds itself in will eventually lead to the demise of the Dollar as the World's currency. In the meantime it'll see Gold, and Silver for that fact, whiz further ahead. By some measures US unemployment has reached circa 20%, and the real scale of the debt that the US faces is yet to be realised by most Americans. In the next decade the US HAS to completely refinance itself to stay afloat. The state of the economy is that as of the moment, America's second largest Creditor is China, with the Treasury in the top spot. After America's continued attempts at currency devaluation, the US is, needless to say no longer in the PRCs good books.

At some point in the future the Chinese will decline to further the funding of their main Currency competitor. The World however is currently not yet ready to trust the Renminbi. Until the time that it does we will continue to see Investors fly from Cash and cash denominated investments to hard Asset classes, i.e. Gold, Silver, etcetera. We are even seeing Oil creep closer to $100 barrel.

The reason for the flight to safe haven asset classes is that the US, plus the majority of the Western World (including Japan), are so heavily indebted that there is no other feasible option but to maintain miniscule interest rates while devaluing paper currency to whittle away at the 'real' value of their debts. To draw upon the words of John Maynard Keynes 'Belligerent Governments, unable, or too timid or short-sighted to secure from loans or taxes the resources they require, print notes for the balance'. The US has exhausted its tax policies, and almost its debt capabilities, and instead of tightly reigning in decadent spending and promoting pro-business legislature (like for example China has), the US has decided to electronically credit its account with Dollars. The result is 'monetary dilution'. Put simply, in these untoward circumstances the Dollar in the pocket today will be worth less tomorrow ( to misquote Harold Wilson). The fundament al reason for this is that as more currency finds itself in circulation, Inflation ensues. Inflation has, until recently, not been taken seriously. We have recently identified that numerous wholesale commodity prices are increasingly on the way up. For example, Agricultural Raw Materials are up 24%, Coffee 45%, Barley 32%, Beef 23% and Sugar 24%. For the naysayers of Inflation, how long will it be before we see these increases at wholesale level trickle down to the more familiar retail prices? On a trivial level Next is set to put its clothes prices up by 8% as of next year.

More seriously, the argument for Gold has never been so compelling. Accordingly, this month we have taken part in the placing of a new investment vehicle with a mandate to invest in Gold stocks (more on that later). Tom is at the helm of the astutely selected stock portfolio. We reckon Gold and Silver will continue to push on higher. Your Fund is the top performing Unit Trust in its class with a year to date increase of 73.4%, dramatically outperforming Golds year to date increase of 26.9%. Since launch the Fund is is up by 81.12%. Of course past performance is not a reliable indicator of future results and we would like to draw your attention the important risk warning at the end of this message. In light of this our investment strategy remains in tact and stable. We are not deviating; we continue to add to our attractively priced holdings as and when we feel it appropriate. This month we have been nibbling at and compounding our positions in, amongst others, Ariana, Ovoca, Norseman, and Angel Mining.

You may say ''but we are in a frenzy''. Having seen many frenzies during a 43 year stockmarket career I can say for sure that we are not. In terms of gold we are still 30% below the real all time high price. When a frenzy starts gold will shoot ahead in a straight line gaining $50 in a session. And then the next. And then the next. The climax of any upswing is always that dramatic. What we see now is a $20 gain one day and then a $10 retreat. The trend is up but it is not straight line. It is not climactic. And in terms of equities: where is the bid frenzy that marks the top of any rally? Where are the quite ludicrous movements on the basis of mere rumour? Has your postman told you to buy gold stocks yet? Yes there is enthusiasm for the sector but not madness. Not even signs of it. We are still in the foothills of a major movement.

Robert Sutherland-Smith

That maybe so, but VGM is a buy at 210 or less imo

Going down down down......

dogs and fleas as with SOLG

Cynic is being cryptic

part of life aldwick in more ways then one

not really - you're just being thick!
both VGM and SOLG are dogs which have had their recent moment of glory ..... if you sleep with dogs, you get fleas, which i dare say several of you now have

Sold a few this morning as this has been a 3+ bagger form me so far...will run the rest and see what happens!....

Put some of the proceeds into TWL...don't know why..pure punt only..may come good very shortly..

not in here cyners....took my profit long ago..

but then you're a sensible emu and don't always bury your head in the sand!

hope yr still talking to aldwick cynic i'v just taking 10+ bagger and hoping to get back in at 1.89p well see how it go's

if you banked your profit, then well done - i assume it wasn't just "pretend" thanks to consolidation!

Cynic

If look at the gold & oil junior's today you will see that most are down today. But the long game is still looking good,

sorry but i don't think much of this bunch .... much happier with the likes of CEY as a junior

sorry but i don't think much of this bunch .... much happier with the likes of CEY as a junior

Cynic if you still held the ones you paid 1.35p for, your view may be somewhat different.
2517

Infact if I still had mine which I paid an average of 1.01p for, instead of selling @1.79p I would also be somewhat happier, still we pays our money and takes our chance.
2517