Marc Faber's Best longs for 2014: Gold, gold shares, and Vietnamese stocks
Faber says: "Given all the money printing that is going on globally – and not just in the US – and given that the total credit as a percent of the advanced economies is now 30% higher than in 2007 before the crisis hit, I think that gold is a good insurance."
"I'd rather buy something that is reasonably priced. And, I think gold shares are very inexpensive. So a basket of gold shares I think next year could easily appreciate 30%."
"I think the Vietnamese stock market, which this year was up 22% [and] which is not bad for an emerging market, will continue to go up."
CNMC has struck gold ! Its Sokor Gold Project has received 100% income tax exemption on statutory income for a period of five (5) years from 1 July 2013 to 30 June 2018.
The savings will be substantial -- consider that in 2013, CNMC paid US$1.7 m in income tax.
According to the company, the Tax Exemption is expected to have a positive impact on the Group’s earnings per share for thecurrent financial year ending 31 December 2014 (“FY2014”), due to the fact that the income tax expense
for the first quarter ended 31 March 2014 and the previous financial year ended 31 December 2013 was computed on the basis that there was no tax exemption. The effect of such tax savings will be duly reflected in the Group's financial results for the second quarter ending 30 June 2014 and for FY2014."
As production capacity increases, CNMC is attracting more investor buying!
The Board wishes to announce that the construction of the Group’s third leach yard at the
Sokor Gold Project, with a leaching capacity of up to 600,000 tonnes, has been completed and
commenced production. In comparison to leach yard one and two, the third leach yard is the
Group’s largest leaching yard at present.
With the third leach yard in operation, the Group now has a total of three fully-operational leach
yards with a combined estimated leaching capacity of 1,000,000 tonnes per annum.
Following the commencement of production at the third leach yard, the Company intends to
begin design work for a fourth leach yard to further expand the Group’s leaching capacity.