I have been an investor in mining for 25 years and have bought many stocks on the Vancouver Stock Exchange.
We now have a situation wherein most of these small companies are at the edge of a precipice and the Canadian government is there to give them a push. Just last week, it approved the International Monetary Fund’s proposed sale of gold. The price of gold dropped four of five dollars that day.
Over these past years of low gold prices, Canada has sold most of its gold reserves. For a country that, more than any other, is dependent on mining, Canada seems to have a death wish, and destroying the mining industry seems to be a priority.
I have never seen it so bad: the equity I own in the small companies, in most cases, wouldn’t even buy my dinner.
How can anyone win when he has to fight the Canadian government as well as a severely depressed gold market? I give up. Goodbye Canada. Goodbye Vancouver Stock Exchange.
Jean Kletzke
La Crescent, Minn.
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