$5,000/oz gold? Rob McEwen says it's coming in 2014 or 2015

Über gold promoter Rob McEwen has also developed a taste for silver mining.

RENO, NV - 

When über mining investor Rob McEwen makes predictions on gold prices or appears to have developed an interest in silver mines, retail investors heed his clarion call and place their bets that the gold price is about to soar.

In a presentation to the Denver Gold Group on U.S. Gold Monday, McEwen was somewhat subdued as he only briefly mentioned he thought gold could hit $5,000 an ounce before the end of the gold cycle As this reporter scrambled for a clarification of his remarks in a brief interview, McEwen stuck by his prognostication, forecasting the end of the gold cycle would occur either in 2014 or 2015.

McEwen is so dedicated to the power of gold, he told his audience of fund managers, analysts, investment bankers and miners that he personally owns 21% of U.S. Gold. In comparison most major mining CEOs own a mere pittance.

He is steadfast in his belief that the Cortez Trend-which hosts Barrick's massive Cortez Hills gold project-will yield millions of gold ounces for his U.S. Gold company.

But, McEwen also has developed a fondness for silver, albeit he lacks the same passion for the precious metal as he feels for gold.

He declared to his audience Monday that "El Gallo, Mexico is becoming one of the world's great silver discoveries. " With a 540,000-acre position in what he called "highly mineralized lands," McEwen's U.S. Gold is spending $10 million in exploration over 12 months. He anticipates an initial resource and heap leach test during the first quarter of 2010.

Though he told Mineweb his interest in silver has been stimulated more by individual mining properties rather than a newfound passion for silver, McEwen has also become active in Minera Andes,  which he says owns 49% of the world's ninth largest silver mine, San Jose in Argentina. By 2010, McEwen forecasts that San Jose will have 7.5 million ounces of silver and 95,000 ounces of gold. He also predicts the operating cash costs will go lower than the 29% drop to $4.99/oz achieved in the first quarter of this year,

He also believes that Minera Andes' Los Azules project is "one of the largest undeveloped copper discoveries in the world. And in keeping with his philosophy as Minera's Chairman and CEO, McEwen owns 33% of the company's shares.

As the years roll by, McEwen's legendary penchant for marketing to the max remains intact as he offered audience members trillion dollar notes as an impromptu raffle prize at the conclusion of his talk.

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responses to this article

YEP Yep, when dollar = yuan........ by OPA on September 15 2009, 10:09 Find this comment inappropriate? Report it

Ya Sure When pigs fly by Jane Doe on September 15 2009, 11:20 Find this comment inappropriate? Report it

YEP I agree with Rob , gold is money , the FIAT paper fools will have paper only ,very soon . like the banks that produce / make nothing but invest your money into GOLD AND PRECIOUS METALS . You my friend just have a paper bank slip , FIAT . .more MONEY . . .less by Dilligaf on September 15 2009, 12:10 Find this comment inappropriate? Report it

my last post @ OPA and Jane Doe Fiat money or Gold . by Dilligaf on September 15 2009, 12:12 Find this comment inappropriate? Report it

Gold Price I thik Rob is right about $5,000 gold, but I don't think that it can be mined as cheaply as he would have us believe. by Dave on September 15 2009, 15:59 Find this comment inappropriate? Report it

RBY no mention of Rubicon? by 55mph on September 15 2009, 18:08 Find this comment inappropriate? Report it

B******S! If i had 21% committed to US Gold I would be talking the price up too! When I can walk into a corner shop and buy a packet of ciggarettes with a baggie of gold dust like its the 19th century mid west gold boom all over again I will beleive US$5000. . .more THe comparitive value of the dollar, and the fact that the US and A would be a real third world country by 2014 at that level of devaluation and running Zimbabwe style hyper inflation means he is also a anarchist! . .less by LIberty Bell on September 16 2009, 08:32 Find this comment inappropriate? Report it

B******S? I'll sell you all the packets of cigarettes you want for baggies of gold dust. I'm sure anyone would. The USand A is just about as corrupt as a real third world country now. by DMM on September 16 2009, 09:21 Find this comment inappropriate? Report it

gold He said it here first http://www.youtube.com/view_play_list?p=B56E258514BF9250&search_query=minera by goldy on September 16 2009, 10:08 Find this comment inappropriate? Report it

gold vs.silver personally im a silver bug, not only is it a precious metal, but its industrial application is far, far greater then gold, and more and more industrial usage is comeing on line all the time, especially in the medical area. read and . .more interesting article that silver could some time in the future, maybe 5 to 10 years out, could decouple from gold and go on its own. and could quite possibly surpase gold in value. this has happened a few times in history. once in egyptian history where the anchient egyptian's considered silver more valuable then gold. and an other time, during the middle ages for a time , silver was more valuable then gold. i wonder if were not seeing another round of silvers importance. it will be most interesting too see in the next 5 to 10 years, as silver usage in all areas will explode against the few areas that gold is in. . .less by caradoc1 on September 16 2009, 14:34 Find this comment inappropriate? Report it

gold vs.silver now for all you anti-gold and anti silver people, who may be wondering why silver has not shot to the moon yet, since the eighties, is simple. price manipulation by central banks and goverements. how you may ask! simple by dumping of course. . .more when gold and silver shot up during the eighties it was really showing a collapse of our phony fiat money, in order to stop that collapse (a.k.a. depreciation ) in other words a flight out of fiat dollars to hard assets such as gold and silver as we see happening today. the goverement in concert with central banks dumped tons of silver and gold into the market to drive back down prices and reverse the flight from dollars to gold and silver back to dollars. which worked of course by stupid investors. this had the negative effect of pushing prices so low, that it drove a lot of gold and silver mines out of business, and investors out as well. this our goverement was doing for the last decades, until just a few years ago when goverement stock piles of silver eventually vanished. as stated by the goverement them selves, when the treasury stated that they would now be buying silver on the open market just like everybody else. this happened a few years back when the treasury could no longer produce the amount of silver eagles that the law demanded. . .less by caradoc1 on September 16 2009, 14:50 Find this comment inappropriate? Report it

gold vs.silver in conclusion, never mind about gold, which the treasury had trouble full filling its orders of gold eagles, where they once offered in 1/2 sizes, 1/4 sizes, and 1/10 ounce sizes, now they only concentrate on full 1 ounce sizes only. leading many . .more to believe that our so called stock piles of gold are quickly shrinking, even though the goverement has stated the opposite, the u.s. gold reserve has not been fully audited since the 50's by an independent audit. which the goverement refuses to do to this day. instead telling the american people trust our figures cause we audit every year. an expect us to swallow that horse S*** excuse. after world war 2 the u.s. had more silver then anybody, about 4 billion ounces of silver in its stock pile of precious metals, today it has officially stated they have none left. by there buying of it on the open market. now you know why it has taken so long for gold and especially silver to rise in valus as it has over the last 8 years. the goverement can no longer manipulate the price. becuase it no longer has the amount of metal to do so. . .less by caradoc1 on September 16 2009, 15:02 Find this comment inappropriate? Report it

g is for gold I here the demand for gold plated toilet seats is on the rise, that will surely help the gold price. lol!!!!!!!! by goldie locks on September 17 2009, 03:47 Find this comment inappropriate? Report it

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