Wednesday’s Opening Commentary on the Markets
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We discuss the small reversal in the conventional U.S. equities markets, with the caution that “stay well informed and stay nimble”.
http://www.scorpiogold.com/ scorpio reports plans for phase 2 of exploration…I am loaded up on scorpio waiting for it to finally pop again!
Me too. I don’t think the market is giving Scorpio much value for its exploration potential, among other things.
Agreed. on Scorpio Gold. I posted this news about the appointment of Peter
— > On July 22, 2016 at 3:56 pm,
Excelsior says:
CEO & Chairman of Scorpio Mining Corporation and the gentleman that started the company that would become Americas Silver Corp (Peter J. Hawley) has joined Defiance as a Director and Chairman of the Board.
Defiance Appoints Mine Developer as Chairman
Vancouver, British Columbia–(Newsfile Corp. – July 21, 2016)
_____________________________________________________________________________
—> On July 23, 2016 at 1:01 am,
Excelsior says:
Often many mining magnates will sit on the board of multiple companies, and then there are times where those companies later merge. I actually think it would be pretty sweet if either Americas Silver Corp or Scorpio Gold were to take out Defiance Silver.
Defiance is going to need to raise money to continue further drill programs, but they have proved their proof of concept. So if they did a JV with Americas Silver, or Americas Silver or Scorpio Gold were to take over Defiance, they they would have the funds to move those projects forward.
Matthew – BTW – Brian and I gave you some praise on the Dana Lyons editorial yesterday.
I also wanted to thank you again for the GDXJ gap chart – a valuable lesson. I did write back to you yesterday, but it wasn’t until later in the day.
http://www.kereport.com/2016/08/02/warning-sign-broad-stock-market/
Thank you Ex and Brian. Now let’s see if I can identify a meaningful high when it arrives. It could happen very soon at this stage but things still look very good at the moment.
From what I can tell, the wall of worry is still intact.
*When looking at my picks, always remember that past performance is no guarantee of future results. 🙁
I always do my own due diligence and just appreciate the helpful discussion on different stocks, and many of them have a “season” where they are on fire, and then there are “seasons” where they may consolidate. Obviously, some are quality that investors can feel good building longer term positions in as well, but I’m not married to any stock, and if I get concerned I don’t have a problem trimming or selling the position. If there is a turnaround, I don’t have problem buying back in or adding to positions either.
Brian’s top 10 list on Dana’s editorial looked great to me (but I also hold or have traded many of those companies as well), and his bonus 3 stocks were also nice. In addition, many of the stocks that Marty and Bonzo post about are solid. Lately, I’ve migrated out of some of the larger names that have already had big surges into much smaller micro-cap stocks for swing trades and some I am starting to build longer term positions in.
Matthew – I posted a long (but hopefully helpful) rant on Golden Valley mines on yesterdsay Big Al editorial. Sometime I’d like to get your thoughts on the info I posted regarding their stake in Sirios & Abitibi resources. The rant is near the top…
http://www.kereport.com/2016/08/02/solve-problems-god-gave-ability/
Thanks Ex. I don’t follow GZZ but the Cheechoo project sounds very interesting and, based on the chart and the info you posted, it looks like a great spec. It also remains a good value despite the great moves it has had this year.
I think it’s going higher so I’d hold onto it for now if I owned it.
Thanks Matthew. Yes I’m trying to figure out how to value Golden Valley Mines since they own 4% of Sirios Resources (with the Cheechoo project), 49% of Abitibi Royalties, 37% of Uranium Valley Mines, 60% of Nunavik Nickel Mines, and they’ll end up with 15% ownership through the JV option to BonTerraResources on the Lac Berry Prospect and retain a 3% NSR
GZZ.V also has 75 other properties to option out to other companies.
_______________________________________________________________________
Obviously the flagship asset that Golden Valley Mines has is their 49% ownership of Abitibi Royalties.
* I just can’t see why someone would want to hold shares in Abitibi Royalites for 51% when they can essentially get half that company through Golden Valley mines, but with all the other partial ownership in the other 5 companies?
It looks like Sirios is getting a little Cheechoo cha-ching…… (and therefore so is Golden Valley Mines…..)
Sirios Resources Inc. (SIREF)
$0.54 – up +$0.09 (+20.00% gain)
As of 12:58 PM EDT.
Adjacent to the Sirios Resources Cheechoo discovery in Eleonore South (by the Gold corp Eleonore mine, is the exploration work from the Azimut Exploration/Hecla JV.
There is a good map of this area play on pg 9 of the Azimut Corporate Presentation:
http://azimut-exploration.com/mining_documents/AZIMUT_Corporate_Presentation_2016_July.pdf
dw jones – I also wrote you & Brian back about Cyprium Mining (CUG) (DFCPF) yesterday but it was actually posted back on the Monday editorial with LPG.
Just wanted to give you a heads up since Monday seems like ages ago…..
P.S. – they are neighbors with Mag Silver 🙂
Here’s a link back to Mondays editorial – Comments are at the very bottom of blog:
Hey EX
No cash in my accounts right now to buy anything, unless I sell some Alexco (gasp!)
Brian
Hi Brian. I was just letting you know I had responded back to you both, and it wasn’t a recommendation to buy anything….just a friendly discussion. I definitely would not sell Alexco to buy Cyprium, or anything like that. I like many silver companies more than Cyprium, but have put on a little speculative position in them since they are going back into production and most have never even heard of them. They also just changed their name to Cyprium on this relaunch. It will likely be a sleeper stock that is dormant for a quarter or two until they update the marketplace on how the ramp up is going, their recovery rates, costs, and ounces produced. No rush on it at this point, as the movement will likely start later in the year or really in 2017.
My strategy is to start to average in to companies in the early stages, and then as they pick up steam and prove their concept, I add a 2nd or 3rd tier. Sometimes I need to sit on a stock for a while until the marketplace wakes up and re-rates a company. With some of the Lithium companies like Galaxy Resources and Lithium Americas, I sat on them for over a year (so sometimes I’m a bit too early to the party, but quite often I have such a low cost-basis that the long wait pays off big time when things finally get moving).
This is what I did with Americas Silver Corp when they were Scorpio Silver/ US Silver & Gold and few were following them at the end of 2015 & early 2016. It was also the same strategy with Jaguar Mining, Aurcana, Nicola mining, Eurasian Minerals, and Ivanhoe Mine, etc…. for 2015 & 2016 and they have just recently taken off.
Again, Cyprium is just getting things going again with Silver production, so it may take a few months or until the beginning of next year before there is any volume or moment, and they could always fail in their activities. It just looks like an interesting value proposition right now, and the fact that their land is neighbors with Mag Silver (who will probably be taken out soon) then I could see Cyprium getting acquired further down the road since they are on the same trend.
We’ll see how it goes….
Yep – it was worth wait……
Nicola Mining Inc. (HUSIF)
$0.15 +$0.02 (+13.38% gain)
As of 9:47 AM EDT.
I should have bought back my AXU position when it dipped into the 1.50s!
Yep, I trimmed during the capital raise announcement, with the intention of buying that portion back on the dip but deployed the funds into other areas. I still have small exposure to Alexco, but I’ve also got new exposure to a handful of other companies that I’m bullish on for the mid term so it all works out.
It has been 13 weeks and the Canadian dollar’s consolidation is about to end…
The $CAD gold price closed just under $1800, and appears to want to retest the historic high. So if the $CAD was meant to rally, then the gold price would be meant to rally as well:
The miners have gone up 140% versus gold this year but are still just at their 2008 crash low. They are overbought at the moment but still very cheap from a long term perspective.
I just bought more Oceana. If it goes down to 3 I’ll buy a lot more.
Barkerville Gold Mines Intersects 11.82 G/T (0.34 OZ/T) Au Over 10.10 Metres Including 68.80 G/T (2.01 OZ/T) Au Over 1.30 Metres In Cow Mountain Phase I Drilling
(via Thenewswire.ca)
http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aBAR-2393953&symbol=BAR®ion=C
Balmoral stakes a lot more land
I actually own that one ! Give me high-grade over 50 meters of open-pit (1-2 g/tonne) any day.
Osisko believes in Barkerville Gold and they do look like they have some high grade results coming in.
Chemtrails are Greatest Threat to Life on Earth-Dane Wigington
Last month, CIA Director John Brennan admitted Chemtrails, or as he put it, “Stratospheric Aerosol Injection,” is established geoengineering science used to fight global warming. Geoengineering researcher Dane Wigington says if the government is admitting it, the negative effects of spraying are too big to hide much longer. Wigington explains…
http://usawatchdog.com/chemtrails-are-greatest-threat-to-life-on-earth-dane-wigington/
The chemtrails are full of aluminum which is toxic to human beings and can lead to dementia, Parkinson’s, and MS. Obama thinks there are too many people in the world and is trying to kill us off.
The other issue arising from chemtrails is Morgellons Disease. Freaky little fibers under the skin. It just makes you feel warm and fuzzy doesn’t it?
Bono, you do know how much aluminum there is in soil, I hope.
Wigington uber-scaremonger.
Sorry, Bonzo…….my iPad Incorrecting again!
Yes I do. it doesn’t hurt us in the soil. It’s when we breathe it into our lungs and it goes to our brain it kills us.
I concentrate all of the aluminum (and tin) in my environment to my head area. My hat, to be specific.
Eurasian Minerals Sells the Sisorta Gold Property in Turkey
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Aug. 3, 2016)
I’ve been writing on the KER about Eurasian Minerals since the end of last year as one of the solid Prospect Generators in that sub-sector of mining companies. While I’m a fan for the longer term, I decided to trim the position back this week into the strength……(yep…. I sold on the news…. 🙂 )
Longer term this company still has a great pipeline of royalties and JV projects, and for a prospect generator that has it’s risk more diversified on many properties and jurisdictions it really has done well.
* 1 Year chart for Eurasian Minerals. (The ADX and Slow Stochastics look overdone):
http://stockcharts.com/h-sc/ui?s=EMXX&p=D&yr=1&mn=0&dy=0&id=p93562620169
Chemtrails- a tinfoil hat, literally..)
Ha! Good one Chartster. 🙂
Doh! Look a couple posts above.
Brian
Big Al, there is a pattern in your tooth ordeal and a pattern for life. When we take care of our teeth on a regular basis, such as brushing regularly, flossing, regular checkups, proper diet, etc. we set the stage for a long and healthy situation with our teeth and they will serve us well. When we neglect the teeth and put off doing what is necessary to maintain them, we at length will find our choices will lead to difficulties and discomfort in the future. What is true with oral hygiene is true with life. As we are prudent and wise in maintaining our lives in economics as well as all other aspects, we will find that our efforts will pay dividends in the future and we will avoid the pitfalls of not doing so. Happy teeth Al!
Oil has hit the 200 day about 5 times today and holding close to it. Could be the start of a move up to 44.
Paul L:
Two days ago he said oil would test the April lows and turn about. Next stop $50
http://www.gannglobal.com/webinar/2016/July/16-07-28-321gold-VideoGrp2.php
That was good analysis from Gann Global Financial. Thanks for the post Bob M.
I have to admit, Gann-Guy really scares me. With all of those possible correction lines and hyper-historical data. I cannot listen to his free videos anymore.
😉
Ha! It didn’t seem to scary to me….. but I’m used to chaos daily so maybe I’ve become comfortable in volatility. He also had possible break out lines along with this correction lines, so he gave the upside and downside options. It seemed reasonable to me, but I’m still learning every day. 🙂
That would be good news. I had a massive gain which is now zero on the oil majors. Will start to take profits on the next run up.
GGF Video 08/01: Precious Metals and Energy Market Update
What is you considered opinion on the near term direction of GDX and the PM’s in general? Are we heading for a pullback or a continued advance?