Gold, Silver, Copper, and Hard Assets…Fall 2017

By hendrixnuzzles, September 21, 2017

This is a continuation of the predecessor thread titled:

“Gold, Silver, and Hard Assets…Summer 2017”.

After my lengthy introduction, guidelines, disclosures, position summary,and warning notices, I will re-submit some meaty posts on Ivanhoe Mines which I think deserve attention and provide a timely change of emphasis; and I will also summarize the findings from the Hendrixnuzzles Crystal Ball, which has been churning out ideas that may or may not come to pass in the near future.

PURPOSE The purpose of this thread is find and discuss good investment ideas in gold, silver, and other selected metals, with a long-term or intermediate timeframe. We are not a short-term trading thread, although occasionally we may perceive short-term trading opportunities based on anticipated news, drilling, or transactions.

FOCUS Gold, silver, copper, nickel, platinum group metals, zinc, uranium.

NOT A FOCUS: Scandium, cobalt, aluminum, manganese, lithium, and aluminum; metals other than copper and nickel that are primary targets in battery technology, and developments in extraction and technology These are better discussed on the thread “Scandium, Cobalt, and Water Purification: Cleanteq Holdings”. Some overlap is unavoidable but this should be kept to the minimum amount possible.

AUTHOR BIAS AND BAGGAGE I have major two themes: long-term capital preservation based on metals, especially precious and demand industrials;
and big capital gain speculations based on them.

This second theme can lead to very speculative investments in exploration and development. This can be in conflict with the theme of capital preservation.
I cannot fully reconcile this paradox. So I can understand if a reader does not feel inclined to put money into these speculations. .

I favor royalty companies, developers, small cap miners, developers, and explorers. I have significant positions in physical metals but it is boring to talk about them and our focus here is elsewhere.
I believe in the concept of optionality as propounded by Rick Rule. Because of this I am of the opinion that , in general, MINERS SUCK. I am wary of big-cap miners, ETFs, and indexes. I am strongly influenced by leadership and management. Most of my metal investments are not miners unless the mine is run by Robert Friedland.
I will consider big caps when a bull market is established. I like low-priced speculations with good discovery odds and clear chances of being taken over or JV’d.

My favorite jurisdictions are Canada and Australia, but I will look at sketchy neighborhoods if I think the story is compelling.
I have become a big fan of Robert Friedland. His companies have evolved into a major component of my portfolio and interest.
I believe gold and silver prices have been manipulated and suppressed by powerful groups, including and especially governments and central banks.
I think these efforts will eventually fail, but they can visit havoc on prices and values in the meantime ,and keep prices artificially low for long periods.
Accordingly, I have shifted a fair allocation of my holdings away from gold and silver, and into copper and other metals that I believe will benefit from the trend towards electrification.
My percentage of gold and silver assets is still probably much higher than that of most people. .

POSITIONS My largest positions are Cleanteq Holdings, Sandstorm Gold, Ivanhoe Mines, and Pretium Resources.
If I want to reduce exposure to gold, the gold sector, I would reduce Pretium before Sandstorm.

My positions, in order of size within category::
Miners, even though they suck:
$IVPAF Ivanhoe Mines (copper, zinc, PGMs)
$PVG Pretium Resources (gold)
$MAG Mag Silver (silver)##
$MUX Mcewen Mining (gold, copper)##

Royalty/streamers:
$SAND Sandstorm Gold
$WPM Wheaton Precious Metals

Developers:
$CTEQF Cleanteq (scandium/nickel/cobalt- discuss on other thread) ##
$SA Seabridge Gold (gold)
$BCEKF Bear Creek Mining (silver)
$ERDCF Erdene Resource Development (gold)
$PTNUF Platina Resources (cobalt/scandium, discussed on other thread)
$UEC Uranium Energy Corp (uranium)

Exploration speculations:
$CDBMF Cordoba Minerals (copper)
$CMDRF Commander Resources (nickel-discuss on other thread)
$CLASF Colorado Resources (gold)
$KNTNF K92 Mining (gold)##
$CNRIF Condor Resources (silver)
$CCNCF Kaizen Exploration (copper)
$KVLQF Kivalliq Energy (uranium, multi-metal)

Physical and redeemables:
$PSLV (silver bullion redeemable physical trust)
Physical gold and silver

## notes:
CTEQF is a technology and water play besides a being a mine developer
MUX is a gold miner but I have it for their copper prospect.
K92 is a producing but needs discoveries so I class it as an explorer.
MAG is considered a miner but they are more similar to a royalty company
****
DISCLOSURES. I am a retired executive and an amateur investor. I like both fundamental and technical analysis.
I also surrender to flights of intuition and paranormal insights when they come to me.

I am a medium-term to long-term position player and prefer to discuss stock investment in that context. As more of my capital moves into conviction stocks, my transactions have become smaller and less frequent, and my standards for taking new positions have become higher.

I am not an expert in any of the commodities discussed, nor am I qualified to give advice. And by no means do I have any expertise in geology or metallurgy.

I express opinions and positions. These are not advice or recommendations, which I remind you I am unqualified to make. I change my mind frequently and my opinions are subject to change at any moment. I intend to keep the thread current but I cannot guarantee that I will tell anyone when I have changed my mind on a particular stock .

CAVEAT EMPTOR. You are responsible for your decisions, and I am responsible for mine. Do your own due diligence.

Everyone makes mistakes and I make more than my share.

***
Political developments and topics should be introduced only when they have a clear relevance to the commodities or companies under discussion.
Given the national and world situations, an occasional outburst of outrage, disgust or indignation is tolerated and understandable. .

I would like to operate in a friendly, honest, and constructive atmosphere.
So try to be nice. Try to have reasons for your opinions. Facts and speculations are both welcome, but be sure to distinguish between them.

Spelling, punctuation, and grammar matter. Everybody makes typographical errors and I am as guilty as the next person. But If you make a lot mistakes or are careless about these things, you are sure to be making errors in other more important things. So it detracts from your credibility even if your idea is good. Besides, it’s annoying.

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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2182 Comments on " Gold, Silver, Copper, and Hard Assets…Fall 2017"

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Griffin
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$MGXMF – MGX Minerals Announces Completion of Geotechnical Drilling at Driftwood Creek Magnesium; Reports 87 Meters of 41.3% Magnesium Oxide https://www.mgxminerals.com/investors/news/2018/379-mgx-minerals-announces-completion-of-geotechnical-drilling-at-driftwood-creek-magnesium-reports-87-meters-of-41-3-magnesium-oxide.html “About MgO Magnesium Oxide (magnesia) is a widely used industrial mineral that comes in various forms including dead burned magnesia (DBM) and fused magnesia (FM). End uses include fertilizer, animal feed, and environmental water treatment as well as industrial applications primarily as a refractory material in the steel industry. The majority of refractory grade MgO used in the US and Canada is imported from China. MGX aims to provide a stable, secure, long term supply of MgO to the… Read more »
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Gr8Full!
Irregular
11289

$NXXGF > A Steady Drip of Small Cap Mining News from This Hot Frontier Gold Mining Market http://www.smallcapnetwork.com Best

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Griffin
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$MUX – McEwen Mining Black Fox Exploration News

http://www.mcewenmining.com/investor-relations/press-releases/press-release-details/2018/McEwen-Mining-Black-Fox-Exploration-News-99e8fe394/default.aspx

“The next update of the Black Fox Complex resource estimates is planned at the end of the year, and will be published early in 2019 along with the revised and restated mineral reserve estimate.”

MUX long

Griffin
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$MGXMF – MGX Minerals Announces Mobilization for Drilling at Kibby Basin, Nevada Lithium Brine Project https://www.mgxminerals.com/investors/news/2018/382-mgx-minerals-announces-mobilization-for-drilling-at-kibby-basin-nevada-lithium-brine-project.html “MGX is partnered with Belmont Resources (TSX-V: BEA) on the Property and is currently earning a 50% interest for the purpose of forming a 50/50 Joint Venture (the “Joint Venture”) utilizing MGX’s rapid lithium extraction technology. Drill hole targets were generated based on results from the Quantec MT geophysical survey completed in January. The proposed drill holes are designed to test a large MT conductor, which may represent aquifers containing lithium brines. The drill holes have been designed to intercept the MT anomaly starting… Read more »
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deanbob
Irregular
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Cordoba Minerals Announces US$1.3 Million Private Placement with HPX
Complete NR: http://www.cordobaminerals.com/news/2018/cordoba-minerals-announces-usdollar13-million-private-placement-with-hpx

deanbob
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From IKN: The real boss of Cordoba Minerals (CDB.v) begins to paper up Posted: 25 Jul 2018 08:09 AM PDT And you definitely get the impression this is only one stage of the process. I mean, this is just HPX getting theirs, we need to wait for the non-brokered placement when Robert’s inner circle get their slices of the cake as well. Lucas and Rick, cheque books ready in 1q19, yeah? Anyway, this: Cordoba proposes to issue HPX 16,289,619 common shares in Cordoba through the Placement at a deemed price of C$0.105 per common share. Cordoba also proposes to convert… Read more »
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Griffin
Irregular
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$FYI – Graphite Miners News For The Month Of July 2018
by Matt Bohlsen @SA Includes: AMVMF, APMFF, BSSMF, CYLYF, CZSVF, DMNKF, ECORF, FCSMF,

Summary
Graphite spot prices were flat in July. AMR – “Graphite prices high – batteries and electrodes could push H2 2018 prices even higher.”
Graphite market news – Benchmark Minerals – “Carmakers are increasingly worried about where they’ll get enough nickel and graphite.”
Graphite company news – SRG Graphite delivers their PEA result.

https://seekingalpha.com/article/4191551-graphite-miners-news-month-july-2018?isDirectRoadblock=true

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deanbob
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Does this mean we are near capitulation on gold?
Gold Bell Rings: Vanguard Throws In The Towel On ‘Precious Metals & Mining Fund’
https://www.zerohedge.com/news/2018-07-30/gold-bell-rings-vanguard-throws-towel-precious-metals-mining-fund

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Griffin
Irregular
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Griffin
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Griffin
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secretsquirrel
Irregular
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When Rio Tinto Met China’s Iron Hand

In 2010, four employees of the mining giant were jailed and accused of stealing commercial secrets.

Today, the company is more reliant on China than ever.

https://www.bloomberg.com/news/features/2018-07-13/did-china-hack-rio-tinto-to-gain-a-billion-dollar-advantage

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secretsquirrel
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deanbob
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Garibaldi and Metallis help cover that base!

secretsquirrel
Irregular
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Yes GGI/MTS, both good calls, not forgetting AUZ/CLQ….

Eric Sprott added 1.1 million GGI at $2.80 a week ago, now owns (technically) over 22%. NR coming soon, very tight camp up there this year, exciting times!

secretsquirrel
Irregular
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MTS, general news etc….

https://www.newswire.ca/news-releases/metallis-commences-phase-1-drilling-program-688988451.html

https://www.bloomberg.com/news/articles/2018-08-03/copper-supply-woes-on-show-with-world-no-2-mine-output-to-halve

Markets
Copper Supply Woes on Show With No. 2 Mine Output to Halve
By Danielle Bochove and Jack Farchy
3 August 2018, 22:36 GMT+1 Updated on 6 August 2018.

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Griffin
Irregular
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Griffin
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$MGXMF – MGX Minerals Completes TDEM Geophysical Survey at Salinitas Lithium Project – Salinas Grande Salar, Argentina

https://www.mgxminerals.com/investors/news/2018/392-mgx-minerals-completes-tdem-geophysical-survey-at-salinitas-lithium-project-salinas-grande-salar-argentina.html

“Based on interpretation of the TDEM data, the Company is now preparing to carry out trenching as well as an auger drilling program to test for shallow, near surface brines that contain anomalous concentrations of lithium and other elements correlated with geophysics in preparation for definition of drill targets.”

MGXMF long

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Griffin
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deanbob
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$ERD/ERDCF – Long – Erdene 2nd Quarter Results

https://www.erdene.com/site/assets/files/4048/2018-08-14_nr.pdf

deanbob
Irregular
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Ted Butler podcast: New Hope For Higher Silver Prices

How he believes JP Morgan has controlled the price of silver for years. But now he says they have their largest net long position ever.
https://www.peakprosperity.com/podcast/114217/ted-butler-new-hope-higher-silver-prices

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secretsquirrel
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Scottu
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Sir Hendrix- any updates considered on your gold/silver positions as for example silver scrapes past a double bottom?
Stay cool & comfortable everyone!

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Griffin
Irregular
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$FYI – Nickel Monthly News For The Month Of August 2018
by Matt Bohlsen @SA Includes: AAUKF, AXNNF, BHP, ERMAY, FQVLF, GLCNF, HLPCF, IIDDY, LNZCF, NIKAY,

Summary
Nickel spot prices fell slightly in August.
Nickel market news: Nickel demand in the batteries market is starting to be noticeable. As per Mining News, “electric vehicle demand will double nickel price as soon as 2022.”
Nickel company news: Miners report strong nickel revenues after a year of rising nickel prices.

https://seekingalpha.com/article/4203128-nickel-monthly-news-month-august-2018?isDirectRoadblock=true

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Griffin
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$MUX – ATTENTION ALL CONTRARIAN INVESTORS: BIG PROFITS ARE POSSIBLE – TIME TO ALTER YOUR PORTFOLIO MIX We are inviting you to come and learn how: Exciting new drill intercepts at Black Fox have encountered high grades of up to 20 ounces per ton of gold; We have been building our gold resources at Black Fox and Gold Bar; Our newest mine, Gold Bar is progressing quickly to production; We plan to extend the mine life in Mexico by 12 years without onerous financing needs; Los Azules, a large copper project and our biggest possible value creator, is being transformed… Read more »
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Griffin
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$ARL/ARRRF – -Exceptional gold-silver rock chip results at Black Bullock Prospect, NSW

“First-pass rock chip sampling at the historic Black Bullock mining area (Wiseman’s Creek EL8554) records exceptional assay results:
Up to 38 g/t gold and 348 g/t silver.
Significant samples have greater than 1 g/t gold.
Several centres of workings located, largely obscured by soil cover and pine plantations.”

https://mailchi.mp/7d16c2a31b0f/exceptional-gold-silver-rock-chip-results-at-ardeas-black-bullock-prospect?e=3466f11741

ARL long

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secretsquirrel
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Mention of IVN. Nevsun finds white knight, shares jump as it agrees to buyout from China’s Zijin Mining https://www.theglobeandmail.com/business/industry-news/energy-and-resources/article-nevsun-finds-white-knight-agrees-to-186-billion-buyout-from-chinas/ Nevsun finds white knight, shares jump as it agrees to buyout from China’s Zijin Mining NIALL MCGEE MINING REPORTER PUBLISHED SEPTEMBER 5, 2018 China’s Zijin Mining Group Co. Ltd. is set to acquire Nevsun Resources Ltd for $1.86-billion trumping Canadian miner Lundin Mining Corp’s offer. In a statement on Wednesday, Nevsun said it has cut a friendly deal with Zijin Mining for $6 a share, 26 per cent above Lundin’s $4.75 tender offer. Nevsun shares jumped more than 17 per cent… Read more »
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deanbob
Irregular
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Thanks for the heads up! I chose not to wait on the tender.

Griffin
Irregular
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$MUX – LIVE WEBCAST – Rob McEwen and McEwen Mining **TOMORROW**

“Los Azules, a large copper project and our biggest possible value creator, is being transformed from a remote, limited access project to having year-round access and moving quickly towards permitting. ”

https://mailchi.mp/mcewenmining/mcewen-mining-analyst-day-847225?e=9dec8f6bb8

MUX long

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Griffin
Irregular
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$trevf – An Update On Trevali Mining
BY Matt Bohlsen @sa About: Trevali Mining Corp. (TREVF), Includes: GLCNF, IVPAF, VDNRF

Summary
The zinc sector has had a tough 2018 and Trevali is no exception.
Trevali’s fundamentals remain strong, and Trevali trades on a 2018 PE of just 3.2.
Trevali have been executing well, but will need exploration success to extend their mine life profile.

https://seekingalpha.com/article/4204184-update-trevali-mining?isDirectRoadblock=true

iI wish this was a Zinc monthly report but it is a slow day.

TREVF np

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Griffin
Irregular
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Griffin
Irregular
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Griffin
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edski
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deanbob
Irregular
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$PVG np …Ed, you beat me to the post. I recently closed my positions. When China’s Zijin Mining Group Co. sold their interest, I just thought maybe they wanted a mine with greater o/p. But after reading the Viceroy Report, I chose to move my capital.

edski
Irregular
809

Wow…lucky to sell last october around 12.
Sold my SolGold shares a couple of months ago for ,30 to clean up the account. I still would be under my purchase though.

My best in account is Kirkland Lake! Bought two years ago on the downtrend avg. 7.40 !! MY only shining star left!

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deanbob
Guest
0

I guess you saw the IKN news on Kirkland?

edski
Irregular
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Yes sir….I did. Gave me a good chuckle and let me know that everything is still going according to plan. Not my plan however….

Griffin
Irregular
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$MUX – DID YOU MISS OUT ON ALL OF THE GOOD NEWS AT McEWEN MINING’S INVESTOR DAY?

https://mailchi.mp/mcewenmining/mcewen-mining-analyst-day-847257?e=9dec8f6bb8

MUX long

deanbob
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$MUX No stock price reaction!

Griffin
Irregular
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Just being my sarcastic self but that post was a week ago and there has been some movement since then. Where you expecting to retire. IO don’t really expect to see any movement till there is a political change.

deanbob
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$ERD Erdene Announces Resource Estimate for the High-Grade Khundii Gold Project Link to the PDF: https://www.erdene.com/site/assets/files/4050/2018-09-18_nr.pdf HALIFAX, Nova Scotia, Sept. 18, 2018 (GLOBE NEWSWIRE) — Erdene Resource Development Corp. (TSX:ERD) (“Erdene” or “Company”), is pleased to announce the Mineral Resource estimate for its 100%-owned Khundii Gold Project in southwest Mongolia, prepared by RPMGlobal in accordance with the definition standards of National Instrument 43-101 (“NI 43-101”). The Khundii Gold Project includes the Company’s high-grade Bayan Khundii and Altan Nar deposits, located 16 kilometres apart. Today’s announcement includes the Maiden Mineral Resource estimate for the Bayan Khundii deposit and incorporates the significant… Read more »
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hendrixnuzzles
Guest
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Based on the intercepts I was expecting a much larger reserve number.
I will have to look at the diagrams and maps to see how much upside there may be. There are several zones of deposits.

tanglewood
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$GGIFF Garibaldi Resources
I guess the news that ‘massive sulphides mount up’ is not a good thing. The stock is down 19% but management is giving it a positive spin.
https://finance.yahoo.com/news/massive-sulphides-mount-garibaldis-nickel-110000659.html

edski
Irregular
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#FYI Just last week Versarian, $VRS:London had an offer to purchase shares at 20% off the closing price on 9/21 with no commission. This was handled thru PRIMARY BID, a “crowd funding” company in London. I never heard of PrimaryBid or anything like this being done, so I sent them a letter asking about procedure, since my “eligibility” test failed. Here is their response: Hi, At the moment you need to be a UK resident to participate but we are looking to expand into Europe please keep an eye out for announcements. thx Terry PrimaryBid Phone: +44 (0) 203026 4750… Read more »
Griffin
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$MUX – Gold Bar Construction Update Dear Shareowners, Gold Bar Mine development is on track for completion in 2018, and commercial production is expected to begin in Q1 2019. The primary focus of construction is mechanical and electrical installation of all process related equipment, as well as waste stripping and ore stockpiling. Aggressive near-mine exploration continues to evaluate near-pit ore extensions around the property. Key progress since our last update: Construction of the gold recovery plant structural steel and process equipment installation (+50% complete); Heap leach pad construction nearing completion (+90% complete); Continued overland conveyor, agglomeration drum, and cement silo… Read more »
hendrixnuzzles
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$IVPAF…incredible. Another major copper deposit. Long Ivan. Ivanhoe Mines soars on third major copper discovery in Congo Cecilia Jamasmie | 3 days ago | Ivanhoe Mines soars on third major copper discovery in Congo Extracting mineralized core from Kakula North exploration drilling. (Image courtesy of Ivanhoe Mines.) Shares in Canadian miner Ivanhoe Mines (TSX:IVN) jumped Monday after it announced a significant new discovery of high-grade copper on its 100%-owned Western Foreland asset, west of the Kamoa-Kakula mining licence in the Democratic Republic of Congo (DRC). The find, named Makoko, is Ivanhoe’s third major copper discovery in the DRC, as well… Read more »
Cowboy
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Good to hear from you HN ! I’m still long and hangin in here with IVPAF myself, just not quite as long as I once was. Hope I don’t regret that ! They just keep on keepin on finding….Cowboy

hendrixnuzzles
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0

Hi Cowboy,

It’s good I wasn’t following too closely the last two months, it
would just have caused me a lot of heartburn.

If I had looked at my losses everyday, I don’t know if I would have been in the mental state to put more into it, like I did last week.

But if I liked irt at 60 cents or 70 cents, why wouldn’t I like it at 34 cents ?

This shows me that one’s emotional reaction to position size is extremely important. If one is dominated by the position psychologically, it is impossible to withstand the fluctuations.

deanbob
Irregular
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$IVPAF Long Oct1, 2018 NR

https://www.ivanhoemines.com/news/2018/ivanhoe-mines-announces-the-makoko-copper-

Ivanhoe Mines announces the Makoko Copper Discovery
on its 100%-owned Western Foreland exploration licences
near Kamoa-Kakula in the Democratic Republic of Congo

Makoko is Ivanhoe’s third major copper discovery in the DRC

Makoko high-grade copper shows characteristics identical
to the tier-one Kamoa-Kakula Discoveries

Makoko has been drilled over an area measuring 4.5 kilometres
by 1.5 kilometres and remains open

Drilling continuing on other Western Foreland targets

deanbob
Irregular
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$IVPAF Long – ‘Angry Geologist’ review of latest Ivanhoe Mines Report
http://angrygeologist.blogspot.com/2018/10/ivanoe-makoko-loco.html

Griffin
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$BXTMF – BRIXTON METALS ANNOUNCES COMPLETION OF WARRANT ACCELERATION AND THE EXERCISE OF WARRANTS HELD BY ROBERT MCEWEN

http://brixtonmetals.com/brixton-metals-announces-completion-of-warrant-acceleration-and-the-exercise-of-warrants-held-by-robert-mcewen/

I thought this might be of interest to those that hold $MUX

MUX long btw up today nicely

Griffin
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$MUX – MCEWEN MINING REPORTS Q3 2018 PRODUCTION RESULTS

https://mailchi.mp/mcewenmining/mcewen-mining-reports-q3-2018-production-results?e=9dec8f6bb8

“Consolidated production for the nine months ended Sept. 30, 2018 was 135,344 GEOs, which is 48% higher than the comparable period in 2017.”

MUX long