On a day when Yellen spoke and gold and silver held firm, this is how people are making fortunes in the mining shares.
One Mining Company Strikes It Very Big This Week!
Eric King: “John, as you know there have been so many fireworks this summer. This has not been the typical summer for the gold and silver markets and the mining share markets. And your largest holding, Wesdome Gold, which I also hold six figures of shares in, hit a bonanza on their drill holes, didn’t they? What happened there?”
John Embry: “Well, you know it’s interesting because one of the beauties of owning gold and silver shares is there are two aspects: You can make a lot of money if the gold and silver price goes up because the leverage to the bottom line is obvious. But you can also make a lot of money if they have drilling success.
And in the case of Wesdome, they just released some results on a property that was in production years ago, Kina, which was actually an interesting operation but was shut down when gold prices fell dramatically. But they’ve been doing some drilling up there and I was amazed by the quality of the drill results. And it had an outsized impact on the stock. The stock went up almost 50 percent in one day.”
Eric King: “John, let me ask you this, if Wesdome keeps hitting drill results that solid — those were some astronomical numbers — what happens to the stock price as you see it from a fundamental perspective?”
John Embry: “Well, the stock price will go nuts. I think you are aware, Eric, there are a number of entities looking at this company as a potential acquisition because it’s very undervalued. My greatest fear as a large shareholder…to continue listening to the extraordinary audio interview with 50-year veteran John Embry, where he discusses the big picture in the gold and silver markets, the coming global financial carnage and much more, CLICK HERE OR ON THE IMAGE BELOW.
***Also just released: Paul Craig Roberts – The World Is Now At The Edge Of The Great Abyss CLICK HERE.
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