George Topping, a research analyst specializing in the mining sector at Blackmont Capital, pays closer attention to uranium and copper than he does gold and silver, but in this exclusive interview with The Gold Report, he shares what he foresees: gold flat at $950 per ounce (in real terms) through 2011, copper at $1.80 per pound in two years, and uranium nudging up $100 per pound within five years.

The Gold Report: Let’s begin with some of your thoughts about uranium. Almost two years ago, spot prices hit a record $137 per pound. A year ago—well before the bottom fell out of virtually all the markets—the spot price dropped by nearly half, to the neighborhood of $70. You focus a lot of your attention on uranium. How do you see its future shaping up?

George Topping: The situation right now is you’ve got the spot price down at about $43 a pound …

It was yet another quiet news day during Friday’s trading session on the Canadian Markets, with some investors electing to lock in the gains made over the past week. For the tale of the tape, the TSX Exchange gained 0.26%, while the TSX Gold Index tacked on 0.9% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 0.66% with the advancers beating out the decliners by a 354 to 331 margin on pathetic volume of 91 million shares traded.

Gammon Gold (NYSE:GRS) and Capital Gold are looking to team up with Capital Gold in an all share transaction that would see Capital Gold shareholders get 0.1028 Gammon Gold share for each Capital Gold share. Capital Gold also came out with second quarter earnings of $3.19 million or C$0.02 per share. Gammon ended the day down C$0.46 at C$9.13, while Capital Gold added C$0.06 at C$0.87.

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