Monday, January 13, 2014

The news at noon

OK, bitches! I'm the only guy on the internet who says the bottom is already in for gold, and I'm telling you that this stuff here is the news:

Calculated Risk - corporate investment could break out. This is what convinced Rosie to be bullish US. Though I suspect Bill's "When demand picks up, companies invest" is wrong; it's when they realize rates are about to rise off the zero bound that they start investing.

Bonddad - weekly indicators summary. He still says the long leading indicators are negative. I say you should expect rates to rise, nobody is going to buy housing in a frickin' cold snap, and just wait til corporate capex spending pops; still, he's earned enough respect that I'll heed his warnings.

Mineweb - Bloomberg says China may have added 622 tons of gold to its reserves last year. I don't care so much what Bloomberg says, nor what the Chinese government is doing. But I do care that Wall Street Whitey loves to polish China's knob, and I do care that Wall Street Whitey's worship of China might make him might start to worry that maybe he's got his pants down on gold. - Goldcorp wants to buy Osisko. Who'd realistically make a counter-offer? And why would anyone be buying Osisko right now? And wouldn't you rather be buying B2Gold right now?

1 comment:

  1. You don't need a counter in this one to see the deal go through. It's an unsolicited (hostile? we'll find out later) bid and OSK's BoD is bound to reject it, saying "too low". Then comes the sweetener, which is the arb we're seeing baked in today.

    It's a bold move by GG, though. On balance i think they've pitched the offer well, it makes enough (not total) sense and i agree they're the best fit for this one, too. ABX has enough on its plate disposing of assets without ponying up for a new mine, working or not. NEM is the only real alternative I see. Others are maybes but only as white knights if the affair gets messy.