Gold and Silver and Hard Assets after Trump’s Inauguration…2017

By hendrixnuzzles, January 23, 2017

MAKE YOUR PORTFOLIO GREAT AGAIN !
This thread is a continuation of several threads posted previously by the author on gold and silver and hard asset investments. I am still a believer in hard assets. I also believe we are entering a period of inflation with continued dollar devaluation, higher interest rates, and a sluggish economy with chaotic dislocations. I believe there will be a lot of uncertainty and high volatility.

PURPOSE My intent is to find and discuss good mining and commodity ideas. Gold and silver remain a focus, but I want to achieve a more balanced approach still based on tangible commodities.

STEEL and IRON ORE…I believe Trump’s programs will benefit iron ore and steel. Stocks in this sector have been beaten down terribly but are rebounding. I am long VALE, a Brazilian company which is the world’s largest iron ore producer. I have been long Arcelor Mittal but do not have a position at the moment. Anybody know anything about cement and asphalt ?
COPPER, ZINC, PGM METALS…My very best conviction stock is Ivanhoe Mines IVPAF. I am completely comfortable with a large single position in IVPAF to cover these metals. However other investors may be uncomfortable with a small cap in sub-Saharan Africa. So I think it is beneficial to introduce other names even though I myself am not interested. Rio Tinto, Freeport-McMoran, Teck, Turquoise Hill, BHP and others come to mind. Travis, our host, is long Altius Minerals, and I have been also.
URANIUM…I’m bullish but the choices seem pretty limited. My top three investment-grade choices are Cameco first, then Cameco second, or my third pick would be Cameco. After that, you are speculating on small caps, or buying ETFS or funds comprised of Cameco and some small caps. At the moment, I am long Cameco and UEC.
LITHIUM…I am considering a long position in lithium. I have nothing to recommend at the moment, although I am strongly considering Galaxy, an Australian company. And I like Neometals, also an Australian, but it is difficult to get from my broker, who hates it when I want to buy obscure 50 cent companies on small foreign exchanges. If anybody’s got a great battery play, I am interested.
POTASH/FERTILIZER…very interested but they all seem pretty expensive. There has been consolidation but I have considered Agrium, Mosaic, and there is a German company whose name I forget at the moment (K&D? K&S?).
OIL AND GAS…I would like some very good conviction picks accompanied by strong reasons and decent research. This field is so big, we could get completely lost just tossing names around. I am somewhat worried about price weakness in the energy sector but feel that it is worthwhile to develop a point of view on a few companies. I have little experience although I made very good money in the past on XOM and CVX. Currently I would be interested in pipelines, LNG, or any other sector that someone knows something about. In natgas I like OGZPY.
SOLAR and WIND…really not too interested. The results depend too much on politics, the time frames seem too long. But I am not completely closed-minded on it if you have conviction on something.
COAL…same opinion as solar and wind, but the prices are low and depressed instead of hyped and high-flying. I am still stuck with some defaulted Arch Coal bonds that my financial advisor recommended. They went to ZERO. Now they are worth a Starbucks latte and a pastry. And no espresso shot in the latte, either.
AGRICULTURE…very interested. A large sector but really not too many choices if you rule out futures, like I do. I have a few obscure favorites, but no positions at present:
WHGPY (Chinese pork processor who bought Smithfield)
LAND (Gladstone Land, California farmland)
INCPY (Input Capital, a Canadian canola, streaming model).
Open to more conventional picks like ADM and DBA.
GOLD AND SILVER…my picks have been discussed at length previously. I follow these pretty closely. I am long royalty/streamers SAND, FNV, SLW, and OR; miners PVG, MAG; developers SA, CLASF, MRDCF, BALMF, KNTNF, and LXVMF; and I own PSLV and physical bullion. I swing trade big caps ABX and NEM.
****
DISCLOSURES. I am a retired executive and an amateur investor. I like both fundamental and technical analysis. I am a medium-term to long-term position player and prefer to discuss stock investment in that context. Please no minute-by-minute reports that oil is now 52.50 down 10 cents and the Iranians may suspend Ramadan next week so you are going long until the afternoon bell.

I am not an expert in any of the commodities discussed nor am I qualified to give advice.
Everyone makes mistakes and I make more than my share.Sometimes I change my mind.

When I post, I express my opinions and my positions. These are just that…they are my opinions and my positions. They are not advice or recommendations, which I remind you I am unqualified to make.

Opinions and positions are subject to change at any moment. That is quite unlike the pig-headed and foolish political convictions everybody carries around adamantly, and which change only rarely for unpredictable reasons that have nothing to do with logical thought or reasoned discussion.
Because of this, political developments can be introduced on this thread only when they have a clear bearing on the commodities or companies under discussion.

You are responsible for your decisions, and I am responsible for mine. Caveat emptor.

I would like to operate in a friendly, honest, and constructive atmosphere.
As thread moderator I reserve to myself the role of referee, censor, arbiter, and Grand Poobah, subject to the over-arching authority of Travis, who owns the site and who has on occasion exercised his right to ruthlessly censor and suppress my radical blatherings.

This is a discussion topic or guest posting submitted by a Stock Gumshoe reader. The content has not been edited or reviewed by Stock Gumshoe, and any opinions expressed are those of the author alone.

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1601 Comments on " Gold and Silver and Hard Assets after Trump’s Inauguration…2017"

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leslie7
Irregular
337
leslie7
Statement by Ted Butler (From David Schectman section in the Miles Franklin free newsletter dated 12May2017): “While the biggest single change in the composition of the concentrated COMEX short position has been the defection of JP Morgan to becoming net long by virtue of its physical metal accumulation, there are some other more subtle changes, including the complete absence of any economic legitimacy to the current short position. In essence, there are no legitimate shorts on the COMEX, in terms of miners hedging future production or those hedging against existing physical inventory. The big shorts, apart from JP Morgan, appear… Read more »
deanbob
Guest
0
deanbob

May 12 article from Ted Butler (“Expecting the Unexpected”), “I am convinced that silver will soon explode in price in a manner of unprecedented proportions, … I mean that the move can commence at any time, but more likely before many weeks or months have gone by

http://silverseek.com/print/16585

arch1
Irregular
5962

Re following silver is leveraged against paper at double gold leverage. I do not understand bitcoin being involved in silver except as ratio to Dollar. Such leverage ratio cannot be covered by silver at any price or infinite,,, so what happens when it all crashes?

http://silverseek.com/commentary/paper-vs-physical-amazing-amount-leverage-silver-market-16597

arch1
Irregular
5962
hendrixnuzzles
Guest
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hendrixnuzzles
$Sand $mrldf combination…it appears to me that a proxy will be approved, a positive vote on the Mariana side is a pretty sure bet. If it falls apart, at least we can assume that Sandstorms will recover the price drop from the knee-jerk dilution reaction, and we know that they offered nominally a value of about $1.38 per share of Mariana. (37 cents cash and a quarter share SAND which was about $1 at the time of offer). Presumably Sandstorm feels the value is higher. I like both ends And would not be afraid to add either although the short… Read more »
leslie7
Irregular
337
leslie7

Marin Katusa sees junior miners at fire sale prices this summer. Says to keep cash ready to buy. Very interesting article:
https://katusaresearch.com/junior-gold-stock-etf-poised-create-fire-sale-opportunity-gold-stocks/
comment image

hendrixnuzzles
Guest
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hendrixnuzzles
Marin Katusa’s prediction of small cap gold sell-off in June: I lost my original recap while editing, here is a synopsis. **** As I understand the article posted by Leslie, Katusa is predicting a sell-off of junior gold stocks to reconfigure the holdings of the GDXJ towards more mid-tier stocks. I understand Katusa’s logic, but do not follow it as it relates to the list of stocks cited. 16 of the 20 stocks are already over or near $1 billion in market cap. But there are several other stocks listed in the GDXJ index that are not listed in Katusa’s… Read more »
rocketman
Irregular
75
rocketman
I’ve reduced my gold/silver stock holdings somewhat these last few months but this summer I’ll start building up my positions again. I think precious metal prices probably won’t start rising again until late summer or this fall. The Fed is still in tightening mode, inflation is in check, and real rates are still somewhat high. If Marin Katusa’s prediction does come true then early summer will be a good time to get some stocks at a discount. HN, thanks for the list of stocks you like. I’m trying to build my cash position so I can take advantage of this… Read more »
secretsquirrel
Irregular
111
secretsquirrel

Where a lot of Ivanhoe’s copper will end up…..

World’s biggest building project aims to make China great again

https://www.theguardian.com/world/2017/may/12/chinese-president-belt-and-road-initiative?CMP=Share_AndroidApp_Copy_to_clipboard

C$IVN.

hendrixnuzzles
Guest
0
hendrixnuzzles

Colorado Resources $CLASF…here is a link to the claim map to the major portion of the BC Golden Triangle. Note the size and relationship of the Colorado claims and options to key Seabridge and Pretium deposits.

http://www.coloradoresources.com/s/KSP.asp?ReportID=725526&_Type=KSP-Property&_Title=Maps-Sections

hendrixnuzzles
Guest
0
hendrixnuzzles
$CLASF…claim map…additional comments…the Seabridge area of focus is the brown area next to the pink Pretium deposit with Brucejack on the western edge. Altogether this Seabridge holding is called the KSM deposit project. The blue areas to the northwest are the Colorado claims and options on Seabridge properties, the KSP projects. There are a few other claims, from Skeena, Teuton and Metallis, the Esskay mine of Barrick is alos shown. However for my purposes I feel that I am well covered with Pretium, Seabridge, and Colorado, although Skeena may have an important holding. Esskay is held by Barrick, a big… Read more »
hendrixnuzzles
Guest
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hendrixnuzzles

The link opens to a page with maps, the map I refer to is the middle map in the top row.

ddman92129
Irregular
16
ddman92129

What does one consider an OW or FP? I see the terms referred to quite often. Here is how I interpret FP vs OW. 7% of my portfolio is available for trading. Within that account I consider anything over 10% OW and anything between 5% and 10% a FP. Given that: Way OW $AUPH, $SHOP, $ARTH; FP $ZFGN,$AFMD,$APTO,$ESPR, $BIOC,$AXSM; Way UW Cash.

ddman92129
Irregular
16
ddman92129

apologies – Posted in wrong discussion group. Weekend libations getting the better part of me.

hendrixnuzzles
Guest
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hendrixnuzzles
$CLASF Colorado Resources…edited copy from this week’s news release: May 11, 2017 Colorado Earns Initial 51% in KSP and Allocates $4M to Expand Inel Zone and Achieve 80% Ownership COLORADO RESOURCES LTD. (TSX-V: CXO) announces it has made the final cash payment of $150,000 and completed the initial exploration expenditures of $6,000,000 at KSP; more than 6 months ahead of schedule. This will satisfy its agreement with SnipGold Corp. (a wholly owned subsidiary of Seabridge Gold Inc.) to earn its initial 51% interest in the KSP Property. Colorado has also completed its detailed review of the 2016 exploration drill results… Read more »
hendrixnuzzles
Guest
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hendrixnuzzles

$CLASF…correction, the Seabridge KSM district is to the southEAST of the Colorado/Seabridge KSP district.

leslie7
Irregular
337
leslie7
LONG, but INTERESTING…re PM prices. “The Most Unbelievable Bullish Setup I Have Seen In 45 Years!” PLUS memorandum written in March 1974 regarding US efforts to suppress gold prices. From David Schectman newsletter: Here is an essay by Michael Ballenger. His views are similar to Ted Butler’s. This is a must read article… The Most Unbelievable Bullish Setup I Have Seen In 45 Years! “At the heart of the unprecedented move higher in the price of silver is the manner in which it will occur. It will be a price move like no other. It will be the greatest short… Read more »
hendrixnuzzles
Guest
0
hendrixnuzzles

$GDXJ reconfiguration…the topic was introduced by Leslie7 from an article by Marin Katusa. A more detailed add/delete likely list is available on the link to Tyler Durden’s Zero Hedge site below:

https://twitter.com/TimRunsHisMouth/status/864320973469777920?ref_src=twsrc%5Etfw&ref_url=http%3A%2F%2Fwww.washingtonsblog.com%2F

Katusa’s article stresses the stocks likely to be sold; Durden’s list names the stocks likely to be added.

Griffin
Irregular
508
Griffin

FYI – Top 5 Lithium Miners To Buy

by Matt Bohlsen @SA

Summary

An update on lithium supply and demand.

My top five lithium miners discussed.

Five other lithium miners to consider.

Note: This article was first published on my SA Marketplace service on March 17, 2017 – so stock prices and stock data listed in the article are as of that date.

https://seekingalpha.com/article/4073613-top-5-lithium-miners-buy?app=1&uprof=46&isDirectRoadblock=true

xpost

secretsquirrel
Irregular
111
secretsquirrel
Ivanhoe Mines News Release. http://www.geologyforinvestors.com/ivanhoe-mines-announces-that-kakula-now-contains-indicated-resources-of-116-million-tonnes-at-6-09-copper-plus-inferred-resources-of-12-million-tonnes-at-4-45-copper-at-a-3-cut-off/ Mr. Robert Friedland reports IVANHOE MINES ANNOUNCES THAT KAKULA NOW CONTAINS INDICATED RESOURCES OF 116 MILLION TONNES AT 6.09 COPPER, PLUS INFERRED RESOURCES OF 12 MILLION TONNES AT 4.45% COPPER, AT A 3% CUT-OFF Ivanhoe Mines Ltd. has completed an independently verified, updated mineral resource estimate for the extremely high-grade Kakula discovery on the Tier 1 Kamoa-Kakula copper project, near the mining centre of Kolwezi in the Democratic Republic of the Congo (DRC). The Kamoa-Kakula Project is a joint venture between Ivanhoe Mines, Zijin Mining and the government of the Democratic Republic of Congo. The… Read more »
hendrixnuzzles
Guest
0
hendrixnuzzles

Jackpot.

hendrixnuzzles
Guest
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hendrixnuzzles

$IVPAF…from the same release:

“Kamoa-Kakula now ranks as one of the world’s five largest copper deposits. The May 2017 Kakula estimate firmly establishes the Kamoa-Kakula Project in the ranks of the five largest copper deposits in the world – and its copper grades are the highest, by a wide margin, of the copper world’s top 10 deposits… Significantly, both the Kakula Discovery and the earlier Kamoa Discovery continue to remain open for expansion.”

I have no idea why the stock price has not reacted more strongly.
Looking to buy more under $3.50.

secretsquirrel
Irregular
111
secretsquirrel
hn regards – I have no idea why the stock price has not reacted more strongly. Although I know very little and the markets have taken some beaten today and I’m sceptical of to many conspiracy theories I believe manipulation (some call it trading) is behind this. Shaking the Tree, holding the price down while accumulation goes on by certain institutions/players. It’s casino chips to them and we are all small bit players in comparison. Proof I don’t have, but I still think this is true, The real price of this huge asset will come true in time and as… Read more »
leslie7
Irregular
337
leslie7

$KNTNF

K92 Intersects High Grade Gold In Multiple Drill Holes at Irumafimpa

K92 is very pleased to provide you with a link to today’s News Release, describing multiple high grade drill results from the grade control drilling program at Irumafimpa.

http://www.k92mining.com/2017/05/6265/

Long $KNTNF

hendrixnuzzles
Guest
0
hendrixnuzzles

$KNTNF…thanks, Leslie, it’s good news. Remember there is already an operational mine on the property that was built by Barrick, the only issue is how much gold they can find in the vicinity to feed the production.
Long $KNTNF

secretsquirrel
Irregular
111
secretsquirrel

Ivanhoe Mines Bank of America Merrill Lynch Conference Presentation by RF.

https://www.ivanhoemines.com/site/assets/files/2769/ivanhoe_mines_baml_conference_presentation_-_may_17-_20.pdf

hendrixnuzzles
Guest
0
hendrixnuzzles

Secretsquirrel…thanks. Beat the Merrill guys to lunch today and added IVPAF this morning at $3.56.

secretsquirrel
Irregular
111
secretsquirrel
secretsquirrel
Irregular
111
secretsquirrel
hendrixnuzzles
Guest
0
hendrixnuzzles

Ivanhoe…lack of market reaction to resource expansion…I suppose copper falling back to $2.50 range may have something to do with it. But It should be kept in mind that Ivan has very low costs per pound, 1st quartile, as low as 70 cents.

hendrixnuzzles
Guest
0
hendrixnuzzles

Ivanhoe…lack of market reaction to resource expansion…I suppose copper falling back to $2.50 range may have something to do with it. But It should be kept in mind that Ivan will have very low costs per pound, 1st quartile, as low as 70 cents.

hedy1234
Irregular
647
hedy1234

$IVN

I think that once the company gets to over 1billion MC that market looks for plans for when their will be actual production. Showing more in the ground does not have the same big effect.

There may also be demand concerns when you increase potential supply by such a large amount. One never seems to really know how much China will really need to import in the next 10 years.

Finally Copper just not as sexy as gold mining. And of course ALL MINERS SUCK. 🙂

hendrixnuzzles
Guest
0
hendrixnuzzles

$PVG Pretium Resources…you never know enough about the rocks underground, but there is a noteworthy drill intercept on the Pretium claim about 1000 yards to the east of the main reserve area at Brucejack. They had an intercept of half a meter in hole SU666 of over 8,000 grams per ton.

There are other good drill holes not counted in any of the proven and probable reserves. More resource expansion in the cards eventually.

http://s1.q4cdn.com/222336918/files/doc_presentations/2017/PVG-Presentation-Roth-March-13-2017-PRESENTATION.pdf

hendrixnuzzles
Guest
0
hendrixnuzzles
Some thoughts on the Sandstorm Gold/Mariana Resources combination I believe the proposed combination will be approved in June, and I believe it is worth looking at carefully to see if there are unrecognized opportunities in the combination as reflected in current prices for the two companies. As a takeover, one has a tendency to look at the price of the acquired asset, and the dilution and debt of the acquiring party. However in the Sandstorm Gold/Mariana combination, there are some unusual aspects that deserve attention. I am not an accountant or financial guy, so if I make any serious mistakes… Read more »
hendrixnuzzles
Guest
0
hendrixnuzzles
Sandstorm/Mariana combination…more thoughts Sandstorm market cap is roughly 600 million. Mariana market cap is roughly 150 million. Round numbers, I say the the 30% Hot Maden interest will generate an amount approximately equal to $750 million or more, or about the combined market cap of the two companies combined at current prices. Dividing up the goodies between one pocket or the other won’t matter, it is all going to be in one pocket…Sandstorm Gold’s. Sandstorm will double its assets for a $50 million cash outlay and stock. I’ll trust them to convert the asset to cash flow later. What am… Read more »
deanbob
Guest
0
deanbob

Missing? Very little if anything. I think you have an excellent grasp of the details of SAND. And other investors? Junior producers are not mainstream – at least not yet. This is good, for those of us accumulating positions (not just in SAND). BTW, thank you for the great work you’ve done detailing the juniors you have. After reading your posts, I’ve added more to my previous SAND position than I likely would have.

Long $SAND

secretsquirrel
Irregular
111
secretsquirrel

Colorado Resources: Positioning Yourself For Success In This New Gold Bull Market

http://www.juniorstockreview.com/2017/05/19/colorado-resources/

Long CXO

scottu
Member
10
scottu

http://blackhamresources.com.au/documents/riu-sydney-presentation-2017/ Any thoughts on Blackham folks? Looks like a prospect, not invested in. Thanks!

hedy1234
Irregular
647
hedy1234

Scottu.

What are your thoughts?

What have you learned about it?

Why do you have an interest now?

Is it in production?

Does it have proven reserves?

Can’t just throw it out there an ask us to do all the heavy lifting for you…….

scottu
Guest
0
scottu
Thanks Hedy, my thoughts- looks like a good prospect to me from the 32 pg thorough presentation ( or I wouldn’t mention it)- Gold producer with experienced team in a historcal productive Australian zone, with 6.4 m oz proven & indicated, aiming to ramp up from 100k oz to 200k oz pa long mine life, suffered an “extreme rain event” which impacted Jan -March production but back on track, appears low market cap (118$AU) for its resources,, claims $19 AU per Gold resource, plans to develop a 2nd stage, capital requirements paid w/cash flow from the first so perhaps no… Read more »
hedy1234
Irregular
647
hedy1234

Scottu

Good data.

So why has the price dropped so low and continues to look weak?

scottu
Member
10
scottu
For Blackham Resources AU & f, low sp could be combination of record (4x) usual rainfall that in March slogged down & flooded their pit production, led to their COO being reassigned, plus underground vein they thought ran for example looking down at an x, ran in line from nw to se now seen as running from ne to sw- their new May 7 estimate bears out where the higher line runs & the feasibility of 100k then 200k ozpa but says will take months to get geared up to meet that 100k expectation so maybe market is busy driving… Read more »
yooper
Irregular
8

$NULGF vs $GSV: I am looking at adding a small position in either of these two companies. I am all set in my core silver and gold positions, but have a little money I am going t0 place in one of these two positions. I want to have a little exposure in Nevada. I have owned NULGF in the past and sold at a nice profit. I have done some D.D., but am interested in the thoughts of other Irregulars. Thanks!

hendrixnuzzles
Guest
0
hendrixnuzzles
I was long NULGF at one point but pruned it for what I considered stronger prospecrts, none of which are in the USA. I am not comfortable comparing the two as they are both active in the same geological area, and highly prospective. It seems that NULGF is a little faether along in defining a specific deposit. but neither website has any hard core measured 2 P reserves. I have recently come to the opinion that gold grades are of prime importance. Both mines are in tent on large tonnage lower grade deposits in single grams per ton that I… Read more »
arch1
Irregular
5962

I agree. Two basics,,, richness of ore and relative ease of recovery are primary drivers of a mines worth.That is why I no longer own $NAK,,, though the ore is good it is unlikely to ever be mined for several reasons.
I think the only time to own speculative is when gold fever is in full force and everyone wants in. At that time juniors and speculative out pace the major producers. Long $SAND, $PVG, $HL, $PHYS, $PSLV as major holdings

leslie7
Irregular
337
leslie7

$KNTNF
Not worried, just curious. Does anyone know why trading has been halted on K92?

leslie7
Irregular
337
leslie7
$KNTNF Didn’t find anything on the website, but I just found this: K92 Mining : IIROC Trading Halt – KNT share with twitter share with LinkedIn share with facebook share via e-mail 0 05/23/2017 | 09:40pm CEST VANCOUVER, May 23, 2017 /CNW/ – The following issues have been halted by IIROC: Company: K92 MINING INC TSX-Venture Symbol: KNT Reason: At the Request of the Company Pending News Halt Time (ET): 3:16 PM IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair… Read more »
hendrixnuzzles
Guest
0
hendrixnuzzles

$KNTNF K92…long… Mining trading halt…I called IR and they cannot give any information other than the halt was initiated at the request of the company. Usually these things don’t last too long, so good or bad we should know pretty soon.

leslie7
Irregular
337
leslie7
$KNTNF Here’s the answer! K92 Mining Makes Significant Exploration Discovery of High Grade Kora Extension K92 is very pleased to provide you a link to today’s important news. K92 has intersected high grade mineralization in the first completed exploration hole within a program designed to test for extensions of the Kora Deposit. The intersection is approximately 500 metres along strike and 150 metres down dip from the closest point of the currently defined Kora Deposit. The exploration intercept reported is 5.4 metres at 11.68 g/t Au, 25.5 g/t Ag and 1.33 % Cu (a gold equivalent grade of 14.1 g/t… Read more »
Griffin
Irregular
508
Griffin

$KNTNF – K92 Mining Makes Significant Exploration Discovery of High Grade Kora Extension

http://www.marketwired.com/press-release/-2218304.htm

The reason for the trading halt.

hendrixnuzzles
Guest
0
hendrixnuzzles

$KNTNF…Hope so. Pretty good hit for a new exploration hole. And just think, the mine is already built and running. Now it looks like they’ll have some decent ore to run through it.

Myron Martin’s original pick a while back; and I agreed after checking it out.

hendrixnuzzles
Guest
0
hendrixnuzzles
$KNTNF K92 Mining…of course I am delighted that they are finding good rock but I can’t get too giddy until I’m in the black…I entered at 92 cents so I have a ways to go yet before I am above water. Honestly, while I think the find in the first hole is pretty good, I’m not sure it warrants a suspension in trading…it seems more like a publicity ploy than discovery of a bonanza. Still and all, it is very good and I will hold on. Reading the particulars, it seems very promising because the grades are higher than previously… Read more »
hendrixnuzzles
Guest
0
hendrixnuzzles
More on $KNTNF K92 Mining…long…while Barrick did not do a PEA on Kainantu, the new K92 management did one based on the known drill results of the time. The new drilling results obviously make the older PEA of 9 year mine life and 1oo,000 + ounces per year pretty conservative, although as usual the ultimate size of the deposit remains highly speculative. NPV was calculated at 400 million, market cap now is in the low 100 million range. So I like the odds. The new drill hole is 500 meters away down strike from the last completed one. So there… Read more »
hendrixnuzzles
Guest
0
hendrixnuzzles

EXTRA ! EXTRA ! Gold and silver ARE MONEY !

At least, per new Arizona law.

https://www.marketslant.com/article/tide-turns-gold-silver-now-treated-money-arizona

Hard to see how a Federal challenge could win. It is the Federal Reserve which is contrary to the US Constitution, which designates Congress as the one responsible
for money.

And to quote the U.S. Constitution, Article 1 Section 10:

“No state…shall make any Thing but gold and silver coin a Tender in Payment of Debts…”

Just shows how far we have deviated from the Constitution. Glad someone in Arizona is fed up with the Fed. Will be interesting to see what happens.

leslie7
Irregular
337
leslie7
You mean those pieces of paper with pictures of presidents and a bazillion “dollars” worth of blips on a computer screen aren’t money??? Who would’ve thought? How in the world have the “powers that be” gotten away with ignoring the “No state…shall make…” clause in the Constitution for half a century? And worse, how did a PRIVATE banking organization end up being in charge of the PUBLIC money supply for more than a hundred years? The best thing that could happen would be the dissolution of the Federal Reserve and other central banks worldwide. It would be chaotic for a… Read more »
hendrixnuzzles
Guest
0
hendrixnuzzles

The politicians were either hoodwinked or bought off or corrupted and got used to being able to give out m0ney to constitutents without direct taxation to pay for it. So down the slippery slope we went.

hendrixnuzzles
Guest
0
hendrixnuzzles

The politicians were either hoodwinked or bought off or corrupted and got used to being able to give out m0ney to constituents without direct taxation to pay for it. So down the slippery slope we went.

hendrixnuzzles
Guest
0
hendrixnuzzles

Leslie…in fact those papers are not money, they are currencies. We call it money out of habit from the old days when the currencies were actually backed by something. So technically they are not really money, they are CURRENCIES.

deanbob
Guest
0
deanbob

Zimbabwe must really being doing well with their 10 and 100 trillion $$$ bills!

sharonschreiner
Irregular
2725
sharonschreiner

My dad liked to joke he was a trillionaire. They use the US dollar now, and bitcoin.

frankw17
Irregular
734

Leslie, congress in its infinite wisdom didn’t want to be troubled with managing the money supply so they abdicated their responsibility to the federal open market committee, i.e. the FED and we’ve been playing “see no evil,hear no evil and speak no evil” game ever since. Congress hasn’t changed very much over the past 100+ years. That is to say, the only thing important to them is to ensure they are doing everything to get reelected in the next voting cycle.
Regards,
Frank

hendrixnuzzles
Guest
0
hendrixnuzzles

Arizona Governor Ducey for Fed chairman. Follow up commentary on Arizona gold/silver law.

http://www.kitco.com/news/2017-05-25/Arizona-Recognizes-Gold-Silver-Bullion-As-Legal-Tender-But-More-Work-Needs-To-Be-Done.html

hendrixnuzzles
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hendrixnuzzles
$PVG Pretium Resources…something is peculiar. Not enough to make me change my holdings, but there is something brewing with the commissioning processing at the mill. It was announced on May 1 that initial ore had been introduced for processing (900 tons, about 1/3 of a day’s forecasted production), and that wet commissioning (testing of all components) was to “begin shortly”. Well, here it is May 25 and the silence is deafening. Surely it does not take three weeks to process one-third of a day’s production. And the stock price has been sickly. There are a few possibilities. 1. One is… Read more »
Richard
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Having commissioned a couple of mills with old ore, I would start with low grade ore to bed in thickeners and to get flow rates set rather than attempting to treat average or high grade ore. No mill starting up will operate at expected efficiencies initially, so you don’t want to waste good ore on the trials. A few corrections to equipment and pumping rates, etc. are par for the course so a bit of delay is not surprising. I would not expect a confirmation of grade from the commissioning; that will come with time and production.

hendrixnuzzles
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hendrixnuzzles

Richard, I really appreciate your insight, but why does it take 3 weeks or more to complete the commissioning on less than half a day’s production ? If there was some technical issue with the equipment, they could say so.

Richard Kunter
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You do not take 900 tons and go through the total mill circuit with the same 900 tons without having follow on material; other wise you will never fill the leach tanks and the rest of the circuit. So you have to commission slowly to bring the whole circuit up to the operating conditions. I have not seen the actual proposed circuit for this mill, but likely it will take several days of full tonnage to bring the total circuit to the operating conditions intended for the mill and leach circuit. There is little way that there will be complete… Read more »
sharonschreiner
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sharonschreiner

That is fascinating, Richard. Thanks for taking the time to explain it.

hendrixnuzzles
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hendrixnuzzles
Richard, it is really great to have someone with knowledge of this aspect of mine operations, so I hope you stay with us. I’m plenty patient with PVG, have been in it over two years. In passing, the 900 ton figure was given by PVG. A few questions: 1. As I understand your comments, you wouldn’t put too much into any recovery announcements for the next few months, is that correct ? Would you consider results after three months to be pretty representative ? 2. PVG has stockpiled about 200,000 tons of ore, over 60 days nameplate production. Would there… Read more »
Richard Kunter
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1)Yes, I think that it will be a few months before the company will comment on recoveries, until the mill and the leaching and recovery process is running efficiently. I would expect the company to make some announcements about operations earlier. As efficiency of the leach reaches expectations, I would think that the company would start treating better ore that is available, so with some luck and good engineering, the three month period should be pretty representative. Additional improvements will continue to come during the next several months (years?) after that. 2)Mines will stockpile what they can mine first, which… Read more »
hendrixnuzzles
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hendrixnuzzles

Richard and Dunnydame…thank you for the courtesy of your excellent reply.

leslie7
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leslie7

Richard, Thank you for that information. It’s great to have someone with your experience as one of the “Gold Gummies.” 🙂

Richard
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Make that gold ore not old ore, smile!

Griffin
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Griffin
$FFMGF – First Mining Finance Releases Third Set of Assay Results from its Goldlund Infill Drilling Program 12 of 14 drill holes intersect significant gold mineralization VANCOUVER, BRITISH COLUMBIA–(Marketwired – May 24, 2017) – First Mining Finance Corp. (“First Mining” or the “Company”) (TSX VENTURE:FF)(OTCQX:FFMGF)(FRANKFURT:FMG) is pleased to announce the third set of assay results from its, 28,500 metre diamond drill infill program on its 100% owned Goldlund Gold Project (“Goldlund”), located near the town of Sioux Lookout in northwestern Ontario, Canada. Highlights: Hole GL-17-032 intersected 64.5 metres of 3.25 grams per tonne gold Including 0.5 metres of 335.76 grams… Read more »
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