Yesterday I gave you evidence that one leading Wall Street analyst is out to lunch when it comes to the gold bullion spot and futures markets or the goldminers he covers.

Then I took off for afternoon meetings that were (i) in preparation for my coming out of retirement to set up a new broker-dealer, and (ii) a chance to meet the management of Aurelian Resources at their Annual General Meeting.

With respect to Aurelian, I will write it up after the weekend when management and I have had the time to review what I plan to write. This is a junior gold exploration company that in the past 80 or 90 days has grown in market cap from under $20 million (CAD) to over $600 million. So it has become an "overnight" sensation.

Is Aurelian the real thing? Yes, and you can take that to the bank.

The discovery hole and the one reported on yesterday are spectacular " as good as any gold discovery by any company at any time in my lifetime.

The company owns outright a humungous piece of land in Ecuador (which has very low country risk in my view), and they are financially solid with $21 million in the bank and no debt.

At some point I will visit the property because I believe Aurelian will become a major gold producer. Soon, every major broker-dealer gold analyst will begin to follow the company. It appears to be that good.

Presently there are just two portable drills that have been in use there because this region is quite remote. A major drilling company will arrive at the end of the month to discuss plans for a massive drilling program. There will be a planned step-out drill program about every 100 metres or so from the discovery holes. If the results are comparable " even half as good " every major mining company in the world will be signing Confidentiality Agreements and visiting asap.

As I was speaking with Aurelian CFO David Lewis who was a colleague at Coopers & Lybrand many years ago, I couldn't help but think of another former colleague who is CFO at Crystallex (AMEX: KRY). In my view, Crystallex (a Cramer favorite) is a dog with dubious properties, immense country risk, and saddled with colassal debt and relatively little cash.

But dibs on David's job, and his stock position.

There is a lot of outstanding stock " over 30 million shares " and the company is fairly valued here. Yesterday there was some stock sold on the news ("buy on rumor; sell on news"), but with the next few drill holes this is a stock that has the possibility to go much higher. It could drop a little too " but very little. In any event, the volume will be very high, and once the stock is put on a big board it will trade much more on average.

Like I say, I will write it up early next week, but Aurelian will be a company/stock that I intend to follow as much as any in the gold industry. The discovery was simply spectacular.

As to my alert at mid-day yesterday, I received a lot of mail today as gold continued to move higher yesterday and this morning.

Presently spot gold is at $588.85, after touching $595 a few minutes ago. This market will be volatile, but just remember, "There ain't no Fed big enough."

Over a week ago I called a bottom to the crashing prices and then last Thursday (I think it was) I said I was going in "gingerly". Yesterday morning I went in full steam and published the alert in a headline article of the kind I routinely do.