September is looking to be down across the board
Doc is back with us today so we decide to take a look at a number of markets. We start with gold and gold stocks as judged by the GDX. We then move on to oil and the US markets. The overwhelming take home is a September that will be down. Doc shares the levels he is watching and expecting for all the markets mentioned.
Click download link to listen on this device: Download Show
Ask Doc if it’s time to buy NAT. He used to own it and may still.
Jason you could have bought some ASM in the high $1.90’s today and and sold some into the strength around $2.08 currently to lower your cost basis. Just a thought….
I hope to become as good as Marty who snagged some ASM at $1.93. Nice!
ASM now at $2.12
Doc – I always appreciate your market insights. Good luck with the move BTW.
Doc, I hope you saw the article in the Wed. WSJ about U. of Michigan’s 7 fullbacks. Michigan has more fullbacks than all the other Big 10 schools combined, as many don’t have even one. I remember when Texas had the great fullback Steve Wooster and won 30 straight games with the wishbone that was invented to make use of his talents.
Looks like the Huskers might be the Big 10 sleeper this year.
What is Doc’s opinion about 1X ETF gold bear fund to play the downdraft in gold miners? what would be a good long-term method? Thanks.
Where to put some money?? I took some today and restocked the pantry & freezer somewhat. Albertson’s bought out a local grocer and they’re dumping all the inventory, mostly @50% off. Good comments today! Thanks.
It’s hard to beat a risk-free doubling of your money — which is what that sale amounts to.
I went grocery shopping last night and dropped $550 in one heaping cart. Something tells me that I didn’t get as good of a deal as Silverdollar did. It was $700 worth before the discount card and coupons, so I saved $150. The cashier seemed impressed, but I wasn’t feeling like food was in a deflationary environment….
You guys have agreeably been calling gold and silver down all year. Eventually, I expect you will make the right call.
With all the chatter of late about ASM, I jumped in today at $1.97. I may be wrong, but I don’t see a lot of downside from here.
Karl – I follow Avino closely, like a number of investors here, and I know Chris Temple, Jay Taylor, and the Gwen Preston/Scott Gibson/Eric Coffin/Brent Cook/Brien Lundin consortium are fans as well, so you are in good company.
They have 3 Active Projects
1.San Gonzalo Mine (In Production)
2.Avino Mine (Resumed full scale processing Jan 1, 2015)
3.Oxide Tailings Resource (PEA completed in 2012)
On that # 3 the Tailings Resource – they are going to add 5 years of production into the mix from their old tailings, once they finish building out the new tailings and just announced the progress on getting the new one permitted and commissioned.
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Avino Commences Construction of New Tailings Storage Facility
August 10, 2016
In addition to their 2 active mines and their Oxide tailings (like having a 3rd small mine), they also have the Bralorne property (and they have a fair bit of experience with it in past chapters, spun it out a while ago, and just brought it back into the fold in the last 2 years, so it will be their next expansion project and it’s a prior producing mine of some significance.
Click on some of the photos and expansion properties on Bralorne for more info:
Another game changer for Avino is when they set up their offtake agreement with Samsung.
The fact that Samsung interviewed and researched a number of different production mines, and picked Avino Silver & Gold should speak volumes about their future!
Here is a brief description of their partnership from page 20 of their Corporate Presentation:
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In July 2015, Avino signed a term facility agreement with Samsung C&T U.K. Limited. For the sale of Avino Mine concentrate.
Terms of the Agreement:
Avino will sell Avino Mine concentrates on an exclusive basis to Samsung for a period of 36 months
Samsung advanced Avino US$10 million in August 2015 whichwill be repaid with interest using Avino’sfuture shipments of concentrates; Avino made an initial repayment of US$666,666 in June 2016, and will make remaining repayments with interest in 14 equal monthly instalments commencing June 2017 and ending July 2018
Samsung will pay for the concentrates at prevailing metal prices for copper, silver and gold, less treatment, refining, shipping and insurance charges
Interest accrues at 3-month $US LIBOR plus 4.75% and the facility is secured by the shares of Avino’swholly owned subsidiary BralorneGold Mines Ltd.
The agreement relates to sale of concentrates produced from the Avino Mine only, and does not include concentrates produced from the San Gonzalo Mine
__________________________________________________________________________
Here is Avino’s Corporate Presentation:
Here is great interview that friend to the KER, Jay Taylor, conducted a few months back:
David Wolfin Updates Avino Silver and Gold Mines
Jay Taylor Media
https://www.youtube.com/watch?v=FFSDeiWuIZ4&feature=youtu.be
Avino Silver and Gold Mines Ltd. (ASM)
European Gold Forum presented by The Denver Gold Group, Inc. on behalf the world’s precious metal producers.
http://www.europeangoldforum.org/egf16/company-webcast/ASM:CN/
Metals Investment Forum – May 2016: Avino Gold & Silver Corp. – David Wolfin
Beneath The Surface
Junior snapshot: Nine companies on the move in Mexico
AVINO SILVER & GOLD MINES $ASM
GOLDGROUP MINING $GGA $GGAZF
McEWEN MINING $MUX
MINERA ALAMOS $MAI $VGMTF
NEW GOLD $NGD
PRIMERO MINING $P $PPP
SAN MARCO RESOURCES $SMN $SMREF
SIERRA METALS $SMT $DBEXF
XTIERRA $XAG $XRESF
http://www.northernminer.com/news/junior-snapshot-nine-companies-move-mexico/1003777022/
Avino Silver & Gold hits milestones in Durango
TRISH SAYWELL AUGUST 26, 2016
http://www.northernminer.com/news/avino-silver-gold-hits-milestones-durango/1003776878/
Hopefully some of that information will help you evaluate Avino story, and it may explain why there is a fair bit of chatter on the company’s prospects moving forward.
You guys are the perfect contrarian indicators. From Brexit to a “July and August” that will be very difficult for the metals and their shares.
But that is good. It looks like gold and silver are up on non-farm payrolls. Keep these calls coming boys.
Care to throw your hat in the ring, rather than just take potshots?
I’m already in the ring. Simply pointing out what I’m seeing. Long and strong in the precious metals and their equities. This correction appears overdone, despite “technicals” and charts, wavists and cyclists.
I agree with you and the technicals do, too.
I am getting HAMMERED in a bad way on UWTI, ASM, and NAT. Not getting beat up too much on USLV. I have 1/2 a position in each for day trades but it did not pan out. Watching the monthly charts for reversals.