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for January, 2010.
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Robert McEwen, chairman and chief executive officer of U.S. Gold Corp. (also Founder and former CEO of Gold Corp.), talks with Bloomberg’s Erik Schatzker about the outlook for gold in 2010 and beyond. McEwen expects gold prices to hit $2000 before the end of 2010. In 2002 he boldly predicted gold would hit $800 in 7-9 years.
Here’s the rationale behind his latest prediction:
Gold is under-represented in the average investors’ portfolio and has been for the last 20+ years.
Gold has been the best performing asset in the last decade with it’s value increasing approximately 15% per year.
Gold in the past has been treated as a consumable primarily for the jewerly market. Today it is regarded as more of an alternative currency and one that has more legitimacy than fiat currencies controlled by governments that are printing money and going into massive debt (which will ultimately depreciate the value of these currencies).
We have just returned from a successful showing at the 2010 Vancouver Resource Investment Conference hosted by Cambridge House. According to show organizers about 9,000 people attended over two days.
Photo above: Peter Hooper (Executive Chairman) presenting Kilo’s story to a full room.
In addition to presenting at the conference, Kilo had a booth on the exhibit floor where we had an opportunity to meet with existing shareholders, prospective shareholders, analysts, fund managers, financial planners, and others involved in the industry.
As announced in late December last year, Kilo will commence drilling operations on the KGL Somituri property in Q1-2010. After several years without any flight traffic, Kilo has rehabilitated the 1.3 km landing strip in the small community of Nia-Nia, DRC. The airstrip is located to the southwest of Kilo’s initial drilling targets and will greatly improve the operational logistics of moving personnel and supplies to and from the Somituri project.
Welcome to the Kilo Goldmines blog. The main goal behind launching this blog is to keep our valued shareholders and other key constituents (analysts, brokers, media, etc.) updated between press releases. Contributors to this blog will include members of the Kilo Management Team and occasionally outside partners. Some of the initial topics we’ll be covering in the coming weeks include:
insights into Kilo’s operations and management team
updates on Kilo’s social responsibility projects
coverage of gold news and pricing projections
information about the Democratic Republic of Congo (DRC)
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