This “time” depends on the concept of time.
The COMEX has always in recent memory controlled the price of Silver, and has never run out of silver.
As the world changes some “time” the COMEX may fail to have enough silver to meet demand. It is that “time” that will be different.
Is that “time” close? It feels to some (Bill Murphy) that it might be.
I don’t “know anything”, but there’s a whiff of blood in the water, so this shark is circling, hoping to find a meal.

https://soundcloud.com/kingworldnews/andrew-maguire-7162016/s-mNHoS

This time may be measured in months or even weeks (less likely on one hand I.e. More than 5) than in years.

Exactly Bob. It is not different this time and I agree with you on your comment about Murphy. No matter how we slice and dice it the world is still deflating and that should give us pause about every asset we want to own in the future.

Almost a sixth of the worlds bonds are now selling at negative rates and as they say, the bond market is usually right. Who in their right mind would accept zero rates or less over thirty years for example?

Well apparently the answer to that is a great many buyers since this market (bonds) is the largest single pool of money on the planet and it is sure not voting that inflation is about to break out anytime soon.

Can all those institutional and professional fund buyers all be so stupid that they would risk being ruined if 5, 10 or 15% inflation or similarly high interest rates were really coming within a time horizon of the next few decades?

I doubt it.

The market doubts it too and 90 trillion dollars of global paper yielding a measly couple of percent all the way down to negative rates is all the proof we need. Shoot, that kind of size and on those time lines (years to decades) almost guarantee we won’t get the inflation the bugs and Bill Murphy’s of the world are talking about anytime soon.

And the worlds demographic profile makes that guarantee almost iron-clad.

But what does that really mean for all of us in the next few years? I really don’t know except I am pretty sure something will have to bend of break along the way. Mish and Rick are probably right though. The pension system is screwed and it is screwed for good if the 30 year Treasury note is telling us anything we ought to pay attention too.

It means that low growth rates and flaccid demand are going to be perpetual problems we are facing and they will be with us for many years to come with little or no relief is in sight.

Sorry if I am getting a little side tracked. This has all happened before though. So you are right its not different. Its just that this is a new experience for all of us who have lived during the period of a spectacular economic boom.

And now we will get to witness it whither away as we all grow older.

Bob does need to be more specific.

Also the behavior in gold and silver usually track similarly.
This time they are not quite behaving in parallel.
Usually they can be hit at about the same time on the COMEX. They drop in price and shorts can be forced to cover……open interest drops.
This time for silver, it did not quite behave as usually expected. Sure the price dropped, but shorts did not cover very quickly. I interpret that bullion banks were not able to buy up cheap physical to cover their shorting which drove the price down. Other money stepped in to buy silver long and took away the cheap silver from the bullion banks.
Most longs do not stand for delivery on the COMES, but roll contracts over. There appears “this time” may be different. The bullion banks can repeatedly try to knock the silver price down, but if non-leveraged money steps in and takes delivery, the old techniques will not work.

Nay, nay. I did not realize you were a horse man, Robert! I thought you were a joystick jockey.
Sorry, I should not joke about spelling errors, since I make more than a fair share. But I like, if possible, to see the funny side of things as my end draws nigh.

now that’s scary!

Its feels like a slow motion wreck to me.

I plan on bring apart of The Millennium Kingdom Of God.

You should too, before the big hammer falls down and
then it’s way too late.

“Seek Ye First, The Kingdom Of God And Everything Will
Be Added Unto To You.”

The dooms day clock is just a few seconds away from
midnight. Wake up out of your stupor. The hour is late.

Here you go. Very prophetic. Folks, don’t kid yourself.

We are going to have the economic implosion and nuclear
war all wrapped into one event. Highly likely.

Turkey has the B61 nuclear bombers. Are you catching on yet.

http://www.zerohedge.com/news/2016-07-16/turkey-suspends-all-us-operations-against-isis-incirlik-airbase-which-vaults-us-b61-

They are itching to start a nuclear war. O vowed to destroy the Republic. He will too.

Happy birthday

You will need some TLC along with the cash.

— > On April 24, 2016 at 8:54 pm,
Excelsior says:

Yes, this is true. It is good to look at things from a few different angles. I would say half the people found Boss due to their Gold/Silver/Copper assets, and the other half found them due to the Uranium deposits. They are kind of like Brazil Resources in that sense.

I typically look at JV relationships and have an above average hit rate on takeovers for just this reason, but it doesn’t always play out like one thinks. For example, I thought that Anthem Resources would buy out Boss Power’s interest in the Murphy Lake property because at that time, Boss was in trouble and I thought they’d want it off their shoulders. Instead, Boss got the big cash injection and bought out Anthem. I guess it doesn’t matter as they made more sense together.

As for the Skeena Resources angle, that is just another pleasant wildcard between the two companies that adds value to both companies. I was wondering how Skeena was going to pay Eros back, but they did it with shares, which works for me because I like some of the exploration Skeena is doing.

Then there is the JV with Mega at Bruce River.
Bruce River, Labrador
Status: Exploration
Commodity: Uranium, copper
Ownership: 26.66% interest by Eros Resources
Operator: Mega Uranium

Mega is an interesting Uranium company with JVs with a number of companies and stock in a few companies like NexGen.

Next up Eros Resources Corp. holds the 100% owned Chateau Fort Au-Ag-Cu-Zn property in north-central Quebec. The property adjoins the “167” property of Visible Gold Mines Inc. and is currently optioning this project out to Tarku Resources Ltd., so there is yet another JV of sorts.

Then Eros also has the Eastgate Gold Project — High-Grade Epithermal Gold-Silver System in Nevada. What I like about this is that there are several historic mines exist on the property including: Gold Ledge, Double Eagle, Eastgate, Sunny Jim, and Central.

One of their other very interesting Gold/Silver properties is the Bell Mountain Project is located southeast of Reno, Nevada. This is one where they have more defined resources already but I actually hold out more interest in their Eastgate Gold Project
— High-Grade Epithermal Gold-Silver System in Nevada. Franco-Nevada did a lot of work on the Eastgate, as did Echo Bay Mines, Kermode Resources, and Blueridge Gold in the past. I’m very curious to see how both of these properties unfold.
Again, it is wild that they have so much exposure to Precious Metals and some interesting work going on there, but then the more interesting JV projects with Denison and Mega. Really I could see Eros spinning out either their Precious Metals projects or Uranium JVs into a separate company one day as they have 2 different tracks that they are on. In my opinion they have a bit of an identity crisis (just like Alkane Resources that I’ve been writing about recently), and it is most likely that Mid-tier Gold company will buy out one set of assets, and that Denison would take over their Uranium assets one day.

For now it is an exciting company to be part of…..

—- > On April 24, 2016 at 9:16 pm,
Matthew says:

It was through Bell Mountain that I found Eros. Here’s the company that optioned the property to them:

http://schrts.co/BFyd4N

I don’t think I’ve mentioned it here since last year.

— > On April 25, 2016 at 12:13 am,
Excelsior says:

Ah – I see it now on the Globex Mining Corporate presentation – page 12

http://www.globexmining.com/documents/2016-02-18-Globex-updated_newversion_001.pdf

MID TERM POTENTIAL: Bell Mountain

 Eros Resources is studying putting our Au, Ag deposit in Nevada
into production via open pit, and heap leach methods
 We hold an Advance Royalty (2016) and a 3% GMR

—- > On April 25, 2016 at 12:18 am,
Matthew says:

And there’s this:

“In a March 2, 2012 press release, Globex reported the results of a Preliminary Economic Assessment (PEA), prepared by Jacobs Minerals Canada Inc. and Micon International Limited. This report, also based upon the first 20 years of operation projected gross revenue of $2.58 billion, an after tax IRR of 20% and the production of 2,470,000 tonnes of high grade talc and 2,381,000 tonnes of magnesia.”

http://finance.yahoo.com/news/globex-receives-mining-lease-timmins-155549299.html

— > On April 25, 2016 at 12:20 am,
Excelsior says:

This has been an eye opener, because I’ve been so focused on the Uranium side of the equation with Eros Resources, that some of the Precious Metals background has escaped me. In fairness, I became a shareholder though a Uranium acquisition, so mentally I weighted that part of their business more heavily, but the precious metals side has much more potential than I realized.

Good stuff!

— > On April 25, 2016 at 12:32 am,
Excelsior says:

Well I’m thinking of just peppering some money between a few of the project generators and mineral banks:

Strategic Metals, Eurasian Minerals, Transition Metals, Midland Exploration, Aurico Metals, Millrock Resources, Arena Minerals, First Mining Finance, Oban Mining, Abitibi Royalties, Altius Minerals and now Globlex Mining.

Maybe I’ll just start storing some gains from other trades in these as longer term bets. I plan on doing the same thing by storing some gains into the streaming companies.

—- > On April 25, 2016 at 12:40 am,
Excelsior says:

I guess I’d throw Eros Resources, Typhoon Exploration, and Idaho North into the project generator category as well.

—- > On April 25, 2016 at 12:45 am,
Matthew says:

I store gains in future winners all the time. I call them profit dumpsters.

— > On April 25, 2016 at 12:56 am,
Excelsior says:

Profit Dumpsters – I love it. 🙂

On July 12, 2016 at 4:23 pm,
Excelsior says:

If you both want to get the whole story, and do a little due diligence, then you’d discover that Nevsun (because of the media spectacles and law suit) is way more focused on human rights than many of their peers in Africa, and really in mining and business worldwide. It is a constant effort and priority if you spend anytime listening to the management at conferences, or if you watch how things have improved for many living in Eritrea as a result, or if you watch the videos of the thousands of happy workers that are grateful the mine is there.

It’s easy to cast stones when you don’t let the facts get in the way….

______________________________________________________________________

The Bisha Mine Human Rights Impact Assessment

In mid-2013/early 2014, Nevsun commissioned its first independent HRIA at its Bisha Mine to better understand strengths and identify areas where human rights best practices can be embedded in Eritrea and wherever it operates. To implement the HRIA, an independent international human rights lawyer undertook two field missions to Eritrea (October 2013 and January 2014) to gather information, review documentation, and visit the Bisha Mine. The assessment team conducted interviews and focus groups with a wide range of stakeholders, including Nevsun and ENAMCO’s senior management; Eritrean government officials; BMSC employees and managers; local community leaders; and employees and managers of Eritrean contractors, subcontractors, and suppliers.

A broad and comprehensive mandate was given for the HRIA to examine the full spectrum of human and labour rights through a review of the policies and management systems in place at the Bisha Mine and engagement with stakeholders in Eritrea. Specifically, Nevsun wished to better understand where there may be risks, associated with their operations, of human rights impacts on workers and local communities.

The HRIA prioritized the following:

Labour rights, including freedom from forced labour, freedom of association, working conditions, and training opportunities

Human rights related to the environment, including the human right to water and sanitation

Community development and stakeholder engagement with local communities

Security and human rights

Human rights due diligence with respect to business partners and supply chain

Grievance mechanisms at the operational level

The recommendations to support ongoing due diligence for human rights at the

Bisha Mine resulting from the assessment include:

Adopting and embedding a more explicit human rights policy

Conducting further human rights training at Bisha

Integrating human rights considerations into the implementation of the 2012 IFC Performance Standards at the Bisha Mine

Engaging on human rights with suppliers, contractors, and subcontractors

Developing a framework and protocols to ensure the effective implementation and coordination of all grievance mechanisms

Continuing discussions surrounding the implementation of the Community Assistance Programme (CAP)

Upon completion of the HRIA, Nevsun published and made publicly available a summary of the report, and also committed to providing a public response to the HRIA, developing and sharing an action plan resulting from the HRIA process, and continuing to report on human rights in its annual CSR Report. In 2014, Nevsun representatives met in person with interested stakeholder groups to review the full report, its recommendations, and planned Company follow-up.

Nevsun has received constructive feedback regarding the commitment to the principles of accountability and transparency, and that our actions to date have represented good practice in the emerging field of impact assessment related to human rights.

Human rights are integral to Nevsun’s corporate values and shape the expectations of many of its stakeholders. Most importantly, human rights are fundamental to the ongoing dignity, safety, and well-being of the individuals and groups that are affected by the Company’s operations. For our commitment regarding the continued implementation of human rights best practices, please read the Bisha Mine Human Rights Work Plan 2016

On July 12, 2016 at 4:31 pm,
Excelsior says:

B – I doubt you’ll read this study and get actual facts, but I’ll post it anyway.
Instead you will probably cling to your opinions and prejudices, and keep wishing you could throw innocent Canadian miners in jail for trying to create a win-win in a very difficult county to operate in.

However, in outside chance that you want to know how the people are actually treated and have benefited as a result of Nevsun’s mine, then here is audited, non-opinionated, third-party reviewed study…. (not trashy tabloid piece like what you posted.)

_______________________________________________________________________

HUMAN RIGHTS IMPACT ASSESSMENT OF THE BISHA MINE IN ERITREA
COMMISSIONED BY
NEVSUN RESOURCES LTD
ERITREAN NATIONAL MINING CORPORATION (ENAMCO)
PREPARED BY: LKL INTERNATIONAL CONSULTING INC.
05 AUGUST 2015
2015 AUDIT

http://nevsuncsr.com/wp-content/uploads/2015/07/Bisha-HRIA-Audit-2015.pdf

On July 12, 2016 at 4:42 pm,
Excelsior says:

I’m not trying to defend Eritrea…. it’s a terrible country with a horrific track record.

However, threatening to jail the executives of Nevsun when they’ve repeatedly done their damnedest to improve the lives of the people they touch directly, and really be a light in the area for how to conduct business ethically, is a bit much.

I initially felt the same way about Nevsun until I really did some research, because I didn’t want to invest in a company accused of “slave labor” either, when there are so many other choices. However, I’d see them speak at Eric Coffin’s show, and then watch a video of their management discussing everything they are doing to influence human rights and affect the government in a positive way. Then I started reconsidering the affect they were having over there. Now there are 2 more mines opening from other companies now that the government is realizing it can bring in good money off their resources legally and ethically, without resorting to crime. I only hope the other companies that set up shop do as good of a job keeping the community in mind as Nevsun has done. They’ve had a hard road, and tons of disinformation attacks trying to smear them, but if you spend some time on it, you just may start to realize they are one of the good guys over there, and while far from perfect, it’s better than things were when the mine wasn’t there. The government has used the proceeds for bad things (no doubt), but there is a ton of money generated at the Bisha mine going into infrastructure (power/roads/clean water/medical supplies) all of the country. That’s more than most people I know have ever done for the people of Eritrea. In fact, miners are usually picked on, and criticized, but they do more cumulative good for communities than 90% of businesses ever will.

On July 13, 2016 at 7:24 am,
Marty says:

Good follow up Ex, well done.

On July 13, 2016 at 9:36 am,
Excelsior says:

Glad to share Marty. Nevsun is an extremely well run company, has done far more good than bad in Eritrea, and as for the quality of the assets raised in that article B posted, since then they have prove that Bisha is one of the highest grade and most well endowed Copper/Zinc mines on the planet.

I am very excited to see what they do with Reservoir’s assets in Serbia and all the other exploration projects they got along with that project. That should keep them busy in Europe for some time to come, and it was an excellent merger IMO.

Cheers!

+1 I completely agree GH. With Nevsun and in general, it is often the parties that are making the accusations that have the ax to grind or agenda, and think nothing of attacking the reputation of a company or an individual, because the more you tell a lie publicly, the more people start to believe it (regardless of it’s merit).

I’m all for healthy criticism of public or private companies, non-profits, lobyist groups, unions, governments, and public servants, but once something has been clearly corrected in the facts department, then any future criticism should involve the complete picture (including follow up peer reviewed studies, further credible research, independent studies, audits, and continued updates).

All the best GH.

That should be Seacrest and Swift (as in the swift system or getting swift boated). Dang iPad!

My iPad again Incorrects Remember to Rembrant, sorry.
The d*mn thing is going slow again!

That’s funny. Liberty is excessive? Lol

KrisAnne Hall needs to remember the Constitution still overrides Executive orders.

Just because a President may state something, does not mean he(or she) is correct, or has the power to change the Constitution.

EOs have been overriding the constitution! Get it?

P.S. – I posted a prior discussion up above in the blog that we had back in April about Eros Resources; due to their partnership (Loan into shares) with Skeena Resources.

Skeena was featured heavily today on the show, so I thought investors may like to know about another related stock with a number of JVs in Gold/Silver/Uranium.

I even included the grande finale on “profit dumpsters” 😉

Cheers!

I forgot that Typhoon was mentioned in that exchange. It has moved up as much as 400%+ since January and has been relatively well-bid. Hecla owns about 27% and it still trades at .3x book…

http://schrts.co/NPDrOr

Yes, I’ve been enjoying that Typhoon is back on the map as Hecla continues to buy up other companies like Mines Management and Dolly Varden. Niocorp already was bought up by Osisko Mining (was Oban mining at the time), so that puts Typhoon Exploration in the crosshairs for a takeover next. If not a takeover then at least a purchase of one of their properties like Fayolle. Either way I am very constructive on Typhoon and really have been for years.

Thanks for that chart, it made me smile.

It would unlock more value if Hecla just bought out Typhoon on that property and they got a cash injection along with a partial earn-in through a Net Smelter Royalty of 2-3%. Then they could fund the exploration their other properties and unlock more value, in the same way Rye Patch has been able to do with the NSR from Coeur.

It will be interesting to see how things progress in a rising metals environment over the next year or two.

Sorry to pick nits but NioCorp still exists. Oban (now Osisko Mining) took out NioGold.

😉

I have a feeling that Hecla will let Typhoon live for a little longer than some expect.

Ha! You’re right, and thanks for the correction. I have NioCorp on the brain because I’ve been posting about it all week due to the JV they have with IBC Advanced Alloys.

Yes…. I meant NioGold was acquired by Oban Mining (now Osisko Mining), and some of their JV projects were with Hecla. That was the point I was going after, so I thought Hecla would take out Niogold, but was not surprised when Osisko gobbled them up.

As for Typhoon, yes, there is regular progress, but my hope is that eventually Hecla will buy out that Fayolle project, which would give them cash injection and NSR to advance their other projects ala what Rye Patch has done. I’d prefer that they not get bought out…….until much higher prices…..

Cheers Frank from Moscow….The Claw….The BOOT….The Long….OOTB….Jerry.

Have a great weekend sir!

you need a program to know the players, ex

Thanks Bobby. Ever upward!

I have some awfully bad news for Capt. Jerry.

Break it to me gentle

By that measure (429.78 / 2 = 214.89). So a 214.89 % increase for GDJJ if it was a 1 x ETF versus SILJ at 244.37%, means Jr Silver miners still outperformed the group.

So the real question is where is the 2 x (SILJ) ETF? (244.37 x 2 = 488.74% return) 😮

Aaaahhhh, I missed that too. That explains it.

You answered your own question and
requests Tony.

Take some time off. Beef up your silver
hauler. Go find some deals and keep
stackin. Might not hurt, could help.

You two boys be nice to each other…..

Your little boy Tony, is always on a failed mission.

No pay off this time around in paper fools gold.

Its all toxic from here.

There you go – name calling again Matthew.

You can’t hold a conversation. Good luck with
your paper fools gold.

You’re going to need much more than luck.

Its not my assets. Go for it !!!!

It’s your future loss.

Gotta agree Mathew, altho it could happen, the world is gonna end isnt really a positive approach to investing.

The Elite have all the genuine physical and
have distributed all the paper fools gold to
all the future bag holders. Everyone now has
paper gold products.

Again, if you don’t hold it, you don’t own it.

Enjoy the future declines in paper fools gold.

It’s all a set up. The bag holders are all in now.

Big correction is here. Paper is toxic.

You buy physical metals when the financial
historic collapse is going to be the worst in
history.

NO BULL MARKET IN PAPER FOOLS GOLD.

Its guaranteed !

I never had to suffer through all the declines and then shout from roof
tops , look I’m up 5 times. Sure and I walk on water.

NO GOLD BULL MARKET IN PAPER FOOLS GOLD FROM HERE ! Toxic. !

Yes, you can still take it to the bank. Btw, enjoy the fire and brimestone too.

Goes to prove how uninformed you really are. $$$ in the eyes. Blinded !

This time paper gold is D.O.A.

Have a nice day, bud. !

Lie to yourself all you want, it won’t change the fact that you’ve been nothing but wrong.

By the end of the year you will still be wrong and still in denial. You’re awesome dude. 😉

You are going to soon find out how wrong your going to be.

Its very certain and assured long term. Maybe you have a little
bit of fuel on the upside but thats guaranteed to fizzle out like
a old coke bottle.

Again, no gold bull market in fake fools gold paper.

Enjoy your wild fantasies and fools gold paper.

Since it doesn’t really effect my trading holdings on a day to day basis, I give it very little thought, but every once in a while it is interesting to tally up what countries have what holding in gold.

I’m interested in 2 themes:

1) the migration of physical gold from West to East (and the inevitable challenge the West will have in getting enough gold back into physical form for coinage/bars/ETF inflows, when the day comes where it wants it back).

2) The potential shoring up of Gold in the central banks & country coffers around the world and how this buying may pressure the physical markets much more than jewelry demand or even retail investor demand.