Weekend Show – Sat 27 Aug, 2011

A week up in Alaska looking at mining projects

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In this show Al discusses:


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Featuring:
Al KorelinJeff PontiusChris PuchnerJim KomadinaCarl BrechtelKarl Hanneman
Sean BrodrickJordan Roy-ByrneDan PisentiRussell Meyers

Comments:
  1. On August 27, 2011 at 1:40 am,
    The Peak Oil Poet says:

    we build a home to raise our kids
    because that’s what we do
    but it’ll be an empty shell
    when the future comes a knockin’

    when the future comes a knockin’
    when tomorrow’s at our door
    what today is what we dream of
    will tomorrow be no more

    http://thepeakoilpoet.blogspot.com/

    • On August 27, 2011 at 12:21 pm,
      Big Al says:

      Mr. Peak Oil,

      That is pretty good, my friend!

      Thanks for contributing.

      Big Al

      • On May 8, 2012 at 8:50 pm,
        Joni says:

        Tradotto con Google da Wikipedia EN:High Voltage Software ha iniziato lo slvuippo di The Conduit senza un editore. Poco dopo il gioco ha ricevuto un elevato importo di pubblicit , di almeno 10 imprese che hanno manifestato interesse a pubblicare il gioco. [21] Lo sviluppatore afferma che uno dei motivi per cui molti dei suoi giochi di licenza hanno generato recensioni povere grande perch gli editori hanno interferito con il processo di progettazione el gioco e dice che si vuole fare il pi possibile con The Conduit prima di ottenere un editore. [8] Il 2 settembre 2008, High Voltage Software ha annunciato di aver selezionato l’editore per The Conduit e che rileveranno la loro scelta entro la settimana seguente.

    • On August 27, 2011 at 10:54 pm,
      Bentnail says:

      Roses are red,
      Violets are blue,
      The Korelin Economics Report is DA BOMB,
      But I’m sure you already knew.

      • On August 28, 2011 at 2:00 pm,
        Big Al says:

        Hey Mr. Bentnail,

        I thought you liked what we were doing? What did we do wrong?

        Best,

        Big Al

        • On August 28, 2011 at 3:32 pm,
          Bentnail says:

          Al:

          Nothing has changed — “Da Bomb” is youngster talk which means “awesome”.

          da bomb: the best ~ simply outstanding; no comparison or greater value can be placed to another of similar type of manner.

          http://www.urbandictionary.com/define.php?term=da+bomb

          • On August 28, 2011 at 9:06 pm,
            AlKorelin says:

            Thank you. I simply did not understand

            Best,

            Big Al

  2. On August 27, 2011 at 5:23 am,
    Giuseppe Valente says:

    HI Al & Rog,
    Welcome back. Great Show. As I mentioned in the past an important piece of information is the length of time it wil take for the equity to increase in value. One good example is when you mentioned the time frame for the building of the mine. If you can also explain how and when the company can & will increase in value will also be of great help. I am sure you base you investing decisions in this manner. So educatiing us is beneficial. Do not think that we are professors in this field we are students.
    All in all the more info the better not just a carrot on a stick.
    Finally please see to it that a time bar is placed so that if I missed something we can just stoll it back. Do this and you are one step closer to prefection
    Keep up the good work. I know you are listening and see you commitment to perfection
    Thank you Joe

    • On August 27, 2011 at 12:28 pm,
      Big Al says:

      Hi Joe,

      First of all re: ITH a lot of things will be happening between now and ultimate production, assuming that occurs.

      News regarding permitting is important as is news regarding potential asset upgrades. This relates to additional ounces being possibly discovered and also movements upward of the existing ounces into higher categories.

      Also have to consider fluctuations in the price of gold, etc. and news regarding political events and environmental events occurring in the area.

      My investments are predicating on future news flow.

      Pretty much the same holds true for Corvus. The company has a new 43-101 calculation coming out within a month or so pertaining to the North Bullfrog Property.

      The company is also predicting (notice I said predicting) additional cash flow coming from the Terra Property within the next twelve months.

      The company is also constantly looking for additional properties as it is an exploration stage company.

      Gotta consider all of these factors and more.

      Best,

      Big Al

      • On August 27, 2011 at 1:03 pm,
        Giuseppe Valente says:

        Hi Al,

        But you see All all this info is important and has to be included when you discuss these equities. Like I said in the past a complete diagnosis is what is needed. Do not take what you consider to be common sense as common knowledge with your listeners. Information has to be complete the pros and cons must be mentioned. Time line is most important. You might know the time and risks it takes to achieve goals but we do not.
        By the way what about the time bar you did not mention this are you avoiding this little detail in the question I asked.

        Thank you for the reply. This must be time consumming. How to you find time for your wife or would she rather you be out of her hair?

        Joe

        • On August 27, 2011 at 1:16 pm,
          Big Al says:

          HI Joe,

          Didn’t reply to the time bar issue, but will now.

          I think that it is a good idea and I will include it whenever possible.

          Sometimes I think that she is glad I am not in her hair..

          This whole process is really not just a lot of fun, but I am learning a lot as I hope everyone else is.

          Best,

          Big Al

  3. On August 27, 2011 at 9:26 am,
    Max says:

    Hey Big Al,
    How does ITH stack up compared to PEM in Idaho? Last year, Bob Moriarty on 321gold compared PEM to ITH, if I am not mistaken. I’d like to know your thoughts on this.

    Max

    P.S. How’s that Idaho video coming along?

  4. On August 27, 2011 at 12:36 pm,
    Big Al says:

    Hi Max,

    Not sure why Bob would do that unless he is talking about the potential of PEM.

    They are two very different companies in my mind.

    I like them both and am an investor in PEM and will shortly be an investor in ITH. I know the management team of PEM very well and I have nothing but the utmost respect for them. Same holds true for the management of ITH, I just haven’t known them for as long as I have known the PEM folks.

    When I say they are two different companies in my mind, here’s my rationale: ITH has close to 20 million ounces, ITH has $10 million in the bank. ITH has a much larger management team. ITH is trading at about $8 on the American and PEM is trading much less at about $0.40 on the TSX Venture.

    These companies are two very different types of investments. PEM being an exploration play and ITH being an advanced stage development play.

    As I said I am invested in PEM and like it a lot and will soon be invested in ITH.

    Gotta compare apples to apples and not apples to oranges.

    Hope that helps,

    Big Al

  5. On August 27, 2011 at 1:23 pm,
    Giuseppe Valente says:

    Hi Al,
    What would give a a per share value today and it goes into production?
    Do you considr it undervalued today?
    Is it undervalued like the rest of the mining stocks or even more?
    When it goes into production which equity can you compare it to?

    By the Way Dan Pisenti looks like a real Italian,one of the boys in the Godfather
    Which part of Italy is he from My family is from Sepino, Campbasso
    Thank you Al
    Joe

    • On August 27, 2011 at 1:50 pm,
      Big Al says:

      Hi Joe,

      Dan is fifth generation Italian in Santa Rosa. Connected to the wine industry. Great family.

      My personal opinion, which is not advice to anyone else, is that it is undervalued given the potential. Keep in mind that I was told this could very well be the second largest deposit in Alaska.

      Best,

      Big Al

      • On August 27, 2011 at 3:02 pm,
        Giuseppe Valente says:

        Hi Al,
        Dan still has that Don look. It is still in his blood.
        I hope he hasn’t been Americanized too much
        He could play a part in the Sopranos if it come back.
        Have a nice weekend whatever is left of it

        Joe

      • On August 27, 2011 at 3:03 pm,
        Giuseppe Valente says:

        Forfgot to ask you which one are you talking about with the second largest deposit?

        • On August 27, 2011 at 4:04 pm,
          AlKorelin says:

          ITH

  6. On August 27, 2011 at 8:19 pm,
    castanheiro says:

    Here is a good article by Jeff Clark.
    Is the mania here?
    With gold’s extremely shortlived correction of roughly 200 points over 3 days, it is interesting to note that it didn’t even retrace back to where its price was at the beginning of Aug, roughly $1620. The retrace only briefly touched $1709 on Aug. 25th, at 0600 and from then on it was up and now its back up to almost $1830. These corrections are not your normal or usual corrections. There is a strong underlying pressure that wants to continuously push the metal upward. If you’re interested check out Jeff’s article.
    http://lewrockwell.com/orig11/clark-j31.1.html
    Best to you all, and thanks Big Al and Rog!

  7. On August 28, 2011 at 5:33 am,
    Paul S. says:

    Many thanks to Big Al and his crew. This weekend show gets me excited on the junior investing.

  8. On August 28, 2011 at 8:53 am,
    Big Al says:

    Good Morning Castanheiro and Paul S.

    Paul S, many thanks for the kind words.

    Castanheiro, I am not ready to accept the “mania” argument. There are simply too many fundamental reasons for the price of gold (and, yes, silver) to continue to appreciate.

    First of all consider the simple issue of supply. We discussed this in Alaska with a group of guys who have been involved (very successfully I might add) in this industry for probably an average of 25 – 30 years. They all brought out the fact that the supply is dwindling somewhat in comparison to demand.

    Secondly, in my mind, it’s the old story of economic conditions around the world. They just keep getting worse. For thousands and thousands of years this has boded well for the demand for gold. We all know that.

    These are tough times and really only two things are benefiting from them. One is the price of precious metals and the other is the character of some of us. Those of us who realize what is going on are really getting a lot tougher.

    Best,

    Big Al

  9. On August 28, 2011 at 12:18 pm,
    Karen says:

    Hi Al,
    Thanks for a show packed with a great deal of valuable information. I agree that we are no where near the mania phase. I think we have a long way to go and really must be tough to sustain the continuing roller coaster ride.
    Enjoy the rest of the weekend.

    • On August 28, 2011 at 12:48 pm,
      Big Al says:

      Hi Karen,

      Too much bad economic stuff ahead of us. The next few months to years will be a very interesting roller coaster ride!

      Big Al

  10. On August 28, 2011 at 1:02 pm,
    Big Al says:

    Here is a comment from a listener and friend that I received by e-mail:

    “Hi Al:

    Thanks for replying to my letter. To repeat myself, I found Daniela Cambone’s hasty re-titling of Puru Saxena’s hopelessly wrong prediction “Gold and Silver Set for Big Rally” just before the huge pullback to “After Correction, Gold and Silver Set for Big Rally” both deceptive and dishonest. A letter to Daniela did not get any reply.

    I think Kitco’s editors should be more vigilant about the integrity of its contributors because unsuspecting investors may get burned by such wrong predictions.

    BTW, are any wolfs still surviving in Alaska after Sarah Palin’s airborne assault?

    Best,

    Dave”

    • On August 28, 2011 at 1:05 pm,
      Big Al says:

      Hi Dave,

      Sorry I am late getting back to you.

      I agree with some of the editorials on Kitco. I still wonder why Jon Nadler hasn’t altered his views a bit on precious metals. I like Jon, but wonder why he appears to be very narrow minded. Oh well, it is what it is.

      All the best,

      Al

      P.S. Regarding the wolves, two comments. First of all Mrs Palin doesn’t appear to be particularly popular any more. Quitting as governor was not a good idea, at least in my opinion.

      Regarding the wolves, man I saw mountain sheep, bears and cariboo and not a single wolf. I think that they are too smart to be caught out in the open.

      • On August 28, 2011 at 9:22 pm,
        Lynn says:

        Hey Al & dave..

        Just now reading the latest “Sarah Palin dig”. She left the position because of simplicity. The left wing media (majority) was hounding her like a wolrf. Ever vigilant in their cause, the wolves relentlessly assaulted her with so-called “ethics violations” lawsuits that eventually started tapping into taxpayer sources. So she quit.

        But I guess those who are too preoccupied with listening to the left wing media assualt on her would never have guessed why she quit the position. (err.. is that just my “opinion” , so to speak)

        Best to both of you,
        Lynn

  11. On August 28, 2011 at 1:40 pm,
    irishtony says:

    HI AL & DAVE. All the wolves are down the local coin shop buying , PMs haha.

    • On August 28, 2011 at 2:01 pm,
      Big Al says:

      Mr. Irishtony,

      That’s actually not so funny because it is soooo true!

      Big Al

      • On May 8, 2012 at 7:28 pm,
        Hamid says:

        secondo me se ci avessere povarto capcom o EA non avrebbero ottenuto un risultato cosi sbalorditivo credo che queste due SH siano ormai delle esperte di WII e non credo avrebbero spinto molto su sto gioco invece la HV ha cercato di investire molto qui ed riuscita a far venire fuori un risultato che alza gli standard qualitativi della WII credo che la HV abbia ottenuto un risultato ottimo poich ha lavorato giocando tutti i suoi mezzi se l’avessero sviluppato EA o Capcom sarebbe stato un bel gioco per la storia, ma credo che gli standard sarebbero rimasti quelli, dato che si credono superiori e hanno la potenza di un marchio conosciuto P.S.:Moro ma te scrivi sul giornale????da tutti i tuoi post che ho letto scrivi molto bene e sembra quasi tu sia un giornalista di riviste teconologiche xD

  12. On August 28, 2011 at 9:11 pm,
    castanheiro says:

    Hello Al,
    I couldn’t agree with you more w/ reference to supply and global economic conditions. Agreed. Jeff’s article uses the “mania” aspect to create reader interest. But then he shifts gears and demonstrates that the mania that is beginning to kick in is “Fear mania” and not “greed mania”. Fear is the driver, precisely for the reasons you mentioned, plummeting confidence in fiat currencies, insufficient supply to meet demand, worsening economies, etal. Demand from the Chinese and Indian markets are not letting up. Recent Wall ST. Journal report said that you would normally expect scrap jewelry sales to be at all time highs given high scrap prices, and yet, scrap sales are down 50-60%, giving rise to the belief that fear is motivating people to hang onto their gold and silver as it’s being recognized as the only safe place left to invest.
    Take a look at bullion purchases by countries. From the article, “South Korea just disclosed a big bullion purchase, buying 25 tonnes last week, more than doubling its holdings. Mexico, Russia, and Thailand have already been major buyers this year. In fact, year-to-date, governments have almost tripled their net gold purchases over 2010, increasing their holdings by 203.5 tonnes this year, up from a 76-tonne rise last year.”
    My point is that while the mania may not be in full swing yet, it is nonetheless beginning. But, it is not greed driven, ie. a manufactured mania to benefit elitist investors, but rather fear driven, meaning every Tom, Dick, and Harry we will be trying to get in before its over. Trying, I say, albeit unsuccessfully. Supply is already tight for both metals. Most of the world’s reserves are already held by bullion and central banks, so that if increased demand should kick in suddenly, supply will quickly become a serious matter. I think you would find the article actually supports your beliefs and mine. Thanks for responding.
    As always, your perspectives and insights are much appreciated.
    Best to you,

    • On August 28, 2011 at 10:16 pm,
      AlKorelin says:

      Your comments are much more insightful than mine! Keep them coming!

      Big Ak

  13. On August 28, 2011 at 11:21 pm,
    irishtony says:

    Must read article, at GATA.ORG AMBROSE EVANS-PRITCHARDS. : Euro bailout in doubt as ‘HYSTERIA’ sweeps GERMANY.

  14. On August 30, 2011 at 7:59 am,
    Big Al says:

    HI Mr. Irishtony,

    Listen to our Daily Editorial for Tuesday, Sept. 30th.

    Thanks for your continued input.

    Big Al