Monday Market Close with LPG and Chris Temple
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The DJIA is now down almost 900 points including last Friday. Is this the beginning of the end? Big Al definitely thinks that it does not!
Is Greenspan beginning to show some signs of senility or is it the reporting of what he said?
Let me explain my comment above.
Excessive debt can only be reduced by:
1. Inflation which increases faster then debt.
2. Defaulting on the debt, partially or totally.
Fixing the currency to the price of gold would tend to stabilize the value of the dollar, which is NOT the problem.
The problem is the size of the debt!
Or number 3: ……paying it off over many, many years. Was it Spain issuing 100 year paper? I can’t recall but there was more than one country going that route. Can you imagine? 100 years at close to zero rates!!!!
Who in their right mind would buy that?
Thanks Tony. Those are some telling words. I sure agree with him on entitlements and lack of productivity. The part about Greece was the best though. Kick them out of the EZ altogether. They are a big fat liability. Hells bells, Europe needs to assist them to print up their own currency again and let them figure out the ropes the old fashioned way.
You will EAT Hillary AL !!! 8 Years !
http://www.zerohedge.com/news/2016-06-27/earthquakes-cause-giant-natural-gas-field-cut-production-44
This might be of interest to the Nat Gas followers on here.
And Groningen never allowed fracking! Never needed fracking.
Operation Freedom Podcast….Sunday, June 26,2016……Janda
Craig Hemke (AKA- Turd Ferguson) – Financial analyst, Founder – TF Metals Report
http://www.davejanda.com/guests/craig-hemke/sunday-june-26-2016
Big Al, no matter what anyone says negatively about your opinions, they are legitimate opinions. The fact that you and others on your show offer a free venue to express views and give insight is a great benefit. I feel greatly blessed to see what others think, as the older I get, the more I lean on the wisdom of others. I greatly appreciate what you have provided for all of us. Thanks, Big Al and the others on your show.
Ditto
I agree with that too Pardu. Well said.
Some significant miners were upgraded today: ABX, AGI, GOLD, RIO, SSRI, EXK, PAAS, EGO, CDE, IAG.
Hecla Announces Takeover Bid for Shares of Dolly Varden Silver at 97% Premium
http://ir.hecla-mining.com/file/Index?KeyFile=34888355
Upgraded by whom, Matthew?
I missed that. Thanks
Various analysts. In SSRI’s case, CIBC:
It’s hard to track them all down but here’s another source of info:
Thanks, I’m clearly too US-centric.
Matthew – I saw the news release that Hecla has made the offer to take over Dolly Varden.
I’m a happy camper, and did my very best to regularly discuss this takeover with the KER family. Hopefully a few others got to position in advance of this news.
Here’s a trip down memory lane where we repeatedly discussed the potential for just this exact scenario and it has been an easy triple……
Cheers!
________________________________________________________________________
On September 10, 2015 at 11:43 am,
Shad says:
“…. Dolly Varden (may get bought out)”
**On October 7, 2015 at 8:05 am,
Excelsior says:
“Along those same lines – has anyone been following Hecla’s interest in Dolly Varden Silver? They just loaned them some money, own 14% of the company, and may own 19% of it once their warrants are triggered.”
September 30, 2015 – Vancouver, BC: Dolly Varden Silver Corporation (TSX.V: DV | U.S.: DOLLF)
Article: Dolly Varden Silver closes 1.5 Million loan – begins drill program and announces board changes
Excelsior says:
“I think Hecla has strategically acquired some very nice assets in this bear market with the Aurizon takeover in 2013 being the big score, but also a nice takeover of Revett Mining last year in 2015. They have much more more gold exposure now as a result.
**” They are increasing their exposure to Dolly Varden Silver, and still have a JV agreement with Typhoon Exploration, so I could see them continuing to grow their asset base through takeovers.”
—> On January 14, 2016 at 9:17 am,
Excelsior says:
“I actually really thought Hecla was a contender for taking over NioGold, but Oban sealed the deal. Hecla has been increasing their interest in Dolly Varden Silver. Do you have any thoughts on Dolly Varden as a potential takeover target?”
___> On February 14, 2016 at 12:17 pm,
Excelsior says:
Anyone have any thoughts on Dolly Varden Silver, Bear Creek Mining or Arizona mining being taken out this year?
—— > On February 29, 2016 at 12:27 pm,
Excelsior says:
Bonus round:
“Dolly Varden Silver is a takeout prospect that I believe Hecla will purchase. Hecla just loaned them some money, and they just moved their offices inside of Hecla’s building. (ding ding ding).”
__> On March 18, 2016 at 10:52 am,
Excelsior says:
“Great point on Typhoon being like and out of the money call, because it is trading below cash value and no value is being given to their exploration targets.
Again, I hope Hecla buys them out eventually (but it is more likely that Hecla will buy Dolly Varden Silver next).”
• On March 18, 2016 at 11:18 am,
Matthew says:
It ran from .06 to .27 in 2014. So it can move when the time is right – news or no news. It went ten fold in five months back in 2006.
I’m going to take another look at Dolly Varden.
• On March 18, 2016 at 11:26 am,
Excelsior says:
Hecla just gave Dolly Varden Silver a loan…..AND….. Dolly Varden just moved into Hecla’s headquarters. Seems like they are already starting to the process of merging.
• On March 18, 2016 at 11:28 am,
Excelsior says:
“VANCOUVER, BC / ACCESSWIRE / February 3, 2016 / Dolly Varden Silver Corporation (TSX.V: DV | OTC: DOLLF) (the “Company” or “Dolly Varden”) is pleased to announce receipt of C$500,000 in funds comprising the second and final tranche of the previously announced senior secured loan (the “Loan”) from Hecla Canada Ltd. and Robert L. Gipson, two significant shareholders of the Company.”
“In January, Dolly Varden reduced staff and consolidated its corporate office within Hecla Canada’s Vancouver corporate office space, allowing elimination of monthly office rent payment.”
http://finance.yahoo.com/news/dolly-varden-silver-draws-final-233000937.html
On March 23, 2016 at 9:21 am,
Matthew says:
Hey Ex, thanks for the reminder about Dolly Varden. I think I’ve accounted for most of the volume since you mentioned it last week.
Where else can you buy measured and indicated silver ounces grading 321.6 g/t for about 10 cents per ounce and get 10.8 million inferred ounces grading 373.3 g/t thrown in?
At .2 times book and with just 18M shares out, it’s an appealing spec. I can see why they rejected Skeena’s offer last August.
• On March 23, 2016 at 10:31 am,
Excelsior says:
Nice. Well my primary interest in Dolly Varden is a takeout target for Hecla, but the grades you mention and the mineral belt it is a part of are what make it attractive to Hecla in the first place. Since Hecla keeps loaning them money, and since they moved their offices inside of Hecla’s office, it seems like they’d have some pretty interesting arms-length talks in the hallways.
• On March 23, 2016 at 10:55 am,
Matthew says:
I agree with you about Hecla’s interest in it but I gotta have a good value, too. It’s a safety net that adds to upside potential, even in a buy out, and limits downside. Notice that DV hasn’t sold off today with the rest of the silvers.
On March 30, 2016 at 8:04 am,
Excelsior says:
I also have caught the tail end of Alexco’s move, and started nibbling at Dolly Varden Silver.
*On April 8, 2016 at 3:58 pm,
Excelsior says:
“I’ve been nibbling at Dolly Varden Silver little by little because I truly believe Hecla will be acquiring them in the next year or so, and they are very undervalued compared to their peers.”
On April 20, 2016 at 8:43 am,
Matthew says:
I’m glad I bought Dolly Varden after Excelsior/Shad put it back on my radar. It’s up 43% this week and the bid/ask spread is now over 120% (.25/.57).
On April 20, 2016 at 7:10 pm,
Matthew says:
Dolly Varden is up 54% this week.
On April 20, 2016 at 8:16 pm,
Excelsior says:
Dolly Varden is up over 30 % today…….
Dolly Varden Silver Corporation (DOLLF)
0.2153 Up 0.0503(30.48%) 3:59PM EDT
• On April 21, 2016 at 9:35 am,
Excelsior says:
It is interesting that Hecla has loaned Dolly Varden money in 2015, that they own 14.3% of the shares, and that Dolly Varden has migrated into Hecla’s office building.
Just food for thought……
Significant shareholders of Dolly Varden Silver:
>Hecla Mining Company 14.3%
Robert Gipson 13.6%
Ingalls & Snyder 13.6%
St. Thomas Cap Partners 3.8%
** On April 24, 2016 at 12:04 pm,
Excelsior says:
*My plan was originally for Aurizon to take out Typhoon, but then Aurizon cratered and Hecla acquired all their assets and now holds the 50/50 interest on the Fayolle project.
> I’d rather see Hecla buy out Dolly Varden Silver, and find that to be much more likely, especially based on their news flow and DV bringing their headquarters inside of Hecla’s office after their loan earlier this year. Hecla also owns 14.5% of Dolly Varden.
**So, if Hecla is tied up with potentially acquiring Dolly Varden Silver, then maybe Agnico Eagle will buy out Typhoon Exploration instead…… That works for me too.
—-> On May 24, 2016 at 7:25 am,
Excelsior says:
I was thinking Hecla would acquire Dolly Varden next, but maybe now that Mines Management took away the market risk it was too good of a deal for them to pass up.
Nice,Excelsior.
I trimmed a bit more today since Dolly Varden really popped on the Hecla news (and now it is a 4 bagger); but I also left a position on to ride it higher. My only regret (just like in any merger) is I wish I had an even larger position 🙂
The OTC had a nice move today:
Dolly Varden Silver Corporation (DOLLF)
0.4885 Up 0.1263(34.87%) 3:54PM EDT
Brussels Proposes Ending Any Right to Vote to Exit EU – Armstrong
Sources are talking about desperate times in Brussels. The reaction in Brussels is never reform, but more of the draconian measures. A nine-page report exists where the leaders of Germany, France and Italy met in Berlin for BREXIT crisis talks. The solution? They want to shut down all democratic possibility of disagreement knowing these leaders are now below 20% approval ratings and facing 8 countries who may follow BREXIT with their own referendum.
The new blueprint is to do away with all individual member states sovereignty directing EU members to now radically surrender the right to have their own army, rule of law, taxation systems, central banks, and effectively transfer all power to Brussels ending everything that once identified European culture – the ultimate state with one size fits all. The Germany people and French people would probably object or revolt over this one.
It takes two parties to make an agreement, but it only takes one party to break an agreement?
That (Armstrong ‘s commentary) would take a new treaty, with zero chance of total ratification.
I hear lots of statements about
“The UK will have to accept migration if they want to trade with the EU”
“The EU will impose tariffs”
“The EU will not negotiate a trade treaty with the U.K.”
http://webarchive.nationalarchives.gov.uk/20160105160709/http://www.ons.gov.uk/ons/resources/chteufig2_tcm77-408364.png
Note EU exports to the UK exceeds UK exports to the EU.
But do you really think that when push comes to shove the EU will cut off its nose to spite its face?
AND NOTE Iin anticipation of leaving the EU, there is nothing that stops the UK from negotiating trade agreements with the rest of the world to take effect starting in two years time.
*** CORRECTION ****
I mentioned @ 11mn10sec that Italy closed up 3% today…
Actually… I was looking at the wrong data (right market, wrong day).
Italy closed down 4% today.
Apologies for the potential confusion caused.
LPG
Other stock markets in Europe
Symbol Company Country Last Date Time Chg. % Chg.
XX:DKDOW Dow Jones Denmark Index DKK Denmark 1,029 6/27/2016 8:48 PM 0 0.00%
XX:FIDOW Dow Jones Finland Index EUR Finland 1,029 6/27/2016 8:48 PM 0 0.00%
FR:PX1 CAC 40 Index France 3,985 6/27/2016 6:05 PM -122.01 -2.97%
DX:DAX DAX Germany 9,269 6/27/2016 5:45 PM -288.50 -3.02%
XX:GRDOW Dow Jones Greece Index EUR Greece 24.25 6/27/2016 8:48 PM -0.02 -0.08%
NL:AEX Amsterdam AEX Index Netherlands 411.62 6/27/2016 6:05 PM -12.58 -2.97%
XX:OSEBX Oslo Exchange Benchmark Index_GI Norway 573.01 6/27/2016 4:42 PM -19.15 -3.23%
XX:PTDOW Dow Jones Portugal Index EUR Portugal 113.13 6/27/2016 8:48 PM 0 0.00%
XX:SAX Slovakia SAX Index Slovakia 312.90 6/27/2016 5:00 PM +0.03 +0.0096%
XX:CHDOW Dow Jones Switzerland Index CHF Switzerland 494.64 6/27/2016 8:48 PM +0.01 +0.0020%
TR:XU100 BIST 100 Index Turkey 75,161 6/27/2016 5:35 PM -204.76 -0.27%
UK:UKX FTSE 100 Index GBP United Kingdom 5,982 6/27/2016 4:35 PM -156.49 -2.55%
Darn some data changed in preparation for tomorrow already!
1 Year Chart of Gold, The Yen, and TLT (as a proxy for long term treasuries):
Birds of a feather flock together……
http://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=1&mn=0&dy=0&id=p07065200005
Nice chart!
Check out Santa Fe Gold Corp.
Santa Fe Gold Emerges from the Voluntary Petition Under Chapter 11 of the Bankruptcy CodePR Newswire(Tue 8:30AM EDT)
Thanks for the heads up mj12. Could we have another potential turnaround story?
Yes.
This is going to be very profitable.
The details (amount/grade of the new ore, additional projects, management, $, etc.) should be published next Wednesday.
Fishing time.
I’ll be reviewing doing some digging and research this evening, and really appreciate the update mj12. I love the KER site for discussions like these where we identify unique opportunities.
Best of luck to you in your investing.
This chart explains why Cameron allowed the Brexit vote.
British non-EU trade had grown….
http://webarchive.nationalarchives.gov.uk/20160105160709/http://www.ons.gov.uk/ons/resources/chteufig1_tcm77-408363.png
Europe stock
Symbol Company Country Last Date Time Chg. % Chg.
XX:DKDOW Dow Jones Denmark Index DKK Denmark 1,058 6/28/2016 8:52 AM +28.33 +2.75%
XX:FIDOW Dow Jones Finland Index EUR Finland 1,066 6/28/2016 8:52 AM +36.93 +3.59%
FR:PX1 CAC 40 Index France 4,109 6/28/2016 2:37 PM +123.84 +3.11%
DX:DAX DAX Germany 9,524 6/28/2016 2:37 PM +255.79 +2.76%
XX:GRDOW Dow Jones Greece Index EUR Greece 25.46 6/28/2016 8:52 AM +1.19 +4.90%
NL:AEX Amsterdam AEX Index Netherlands 420.78 6/28/2016 2:37 PM +9.16 +2.23%
XX:OSEBX Oslo Exchange Benchmark Index_GI Norway 587.70 6/28/2016 2:37 PM +14.69 +2.56%
XX:PTDOW Dow Jones Portugal Index EUR Portugal 117.02 6/28/2016 8:52 AM +3.89 +3.44%
XX:SAX Slovakia SAX Index Slovakia 312.25 6/28/2016 2:14 PM -0.65 -0.21%
XX:CHDOW Dow Jones Switzerland Index CHF Switzerland 508.69 6/28/2016 8:52 AM +14.06 +2.84%
TR:XU100 BIST 100 Index Turkey 76,941 6/28/2016 3:37 PM +1,779.64 +2.37%
And the US IS SET TO OPEN UP 1.05% as of right now.
Looks like Big Al is correct, the transient effects of Brexit may have ended.
Have Scottish Politicians Lost Their Minds?
Yes, the days when Scots knew the value of money (Adam Smith) have been replaced by young isolationistas.
When it is explained how much English tax-payers actually pay to support them, they may re-evaluate. The EU payments for development are highly publicized, but even those are actually paid mostly by English contributions to the EU.
Soros bets 100million on Deuschebank collapse
http://financialsurvivalnetwork.com/2016/06/john-rubino-of-course-the-election-was-fair-brexit-won/
I wish I could understand Pt and Pd. Today Pd jumps……why?
Worst place for investment advice!
Birdboy! Thinks he is all that!
http://www.zerohedge.com/news/2016-06-27/greenspan-warns-crisis-imminent-he-urges-return-gold-standard
THIS IS WORTH READING.