5 replies to this topic

[senorBS]

Held importante support and are rallying, been buying GDX. BSing away Senor

[dharma]

good trading senor, i posted below on another thread! got a buy on the close on friday. senor can put his sombrero on or take it off in a heartbeat! dharma

[Tor]

Senor, why buy the GDX? I see a potential evening star forming after today, maybe? It just gappo'd up. Good trading to you regardless.

[Jnavin]

I'm in with AEM, GDX and SLV.

[Tor]

Goldcorp Inc Overweight Goldcorp reports "provisional" ore reserves - ALERT $36.86 15 February 2008 Gold & Precious Metals John Bridges CFA, ACSMAC (1-212) 622-6430 john.bridges@jpmorgan.com Ankush Agarwal, CFA (1-212) 622-5623 ankush.agarwal@jpmorgan.com www.morganmarkets.com J.P. Morgan Securities Inc. See page 2 for analyst certification and important disclosures, including investment banking relationships. JPMorgan does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. Customers of JPMorgan in the United States can receive independent, third-party research on the company or companies covered in this report, at no cost to them, where such research is available. Customers can access this independent research at www.morganmarkets.com or can call 1-800-477-0406 toll free to request a copy of this research. • Goldcorp has reported 9% higher ore reserves for year end 2007, but these do not include likely increases at 40% owned Pueblo Viejo, hence we consider these to be provisional. The discovery of the new Oculto zone at Pueblo Viejo is likely to add significant new mineralization. Its impossible to know how well delineated the Oculto zone was at year end and thus to which categories the mineralization will be added. However, given the pressure the senior miners face to replace reserves, we would expect a significant addition to Barrick’s and hence Goldcorp’s reserves when Barrick reports its results. Hence we expect Goldcorp’s true attributable reserves will have risen by 10% to 15% in 2007 and not the conservatively reported 9%. • Goldcorp reported its reserves up by 9% in 2007, adding 5.23moz against mined ounces of 2.63moz. The biggest move was mill ounces at Penasquito, which rose 35% to 12.4moz; the second biggest reserve component is Pueblo Viejo, which remains at 7.25moz until Barrick (the operator) reports 2007 results. • We are pleased with progress at the Los Filos and adjoining Nukay assets in Mexico adding 1.1moz or 25% and 0.20 and 30%, respectively. • Reserves grew at Porcupine and Musselwhite as a result of the mid year asset swap of La Coipa and cash, for the balance of these assets. • On the negative side, reserves depleted at El Sauzal in line with that mine’s limited life, and results at marlin were disappointing, though this probably represents a re-allocation of assets to Penasquito rather than an end to its longer-term potential. • We are looking forward to Barrick’s results later this week that should further boost Goldcorp’s results. This report highlights the reason we favor GG in our ratings system, namely the company’s ability to add to reserves. We reiterate our OW rating.

[Woody]

Unless there is a dramatic reversal I too will scale in long this afternoon.......I was expecting a larger scale correction--it hasnt happened, some daily MACD crosses to the upside, resolution of the symm triangle and the refusal to go down over the last 2 weeks meant that for now the Gold Bears have fumbled the ball.....would like to see Gold Stocks start to outperform metal to confirm.