You have to be a competent technician in this market!
Click download link to listen on this device: Download Show
NuLegacy Gold arranges $9-million private placement
2016-10-04 06:38 ET – News Release
Mr. James Anderson reports
NULEGACY ARRANGES 20 MILLION C$0.45/UNIT FINANCING
Jaguar Signs Earn-In Agreement to Sell Gurupi Project to Avanco Resources
TSX: JAG
TORONTO, Oct. 4, 2016
#GOLD #DEVELOPMENT $JAG $JAGGF Jaguar Mining Inc.
“The Agreement provides Avanco with the right to earn 20% of Jaguar’s interest in the Project by paying to Jaguar an aggregate cash fee of US$1.7 million plus an additional fee of US$500,000 in cash or shares of Avanco, and by expending a minimum of US$300,000 on permitting and access in respect of the Project. Avanco will earn an additional 31% interest in Gurupi upon the publication of a JORC compliant reserve estimate in excess of 500,000 ounces, and will earn a further 29% interest in Gurupi upon demonstration of adequate funding coupled with the start of construction of a process plant with capacity in excess of 50,000 ounces per year.”
Jaguar will likely get re-rated in a major way over the next year or so. $JAG has 4 mines (Turmalina, Pilar, Roca Grande, and Paciencia) in 3 complexes, along with the Gurupi development project, and the Pedra Branca exploration project.
• 2016 production guidance: 90,000-95,000 oz
• 2015 production of 90,421 oz Au in the most active mining state in Brazil.
• 2.7 Moz Au Proven & Probable Reserves (includes Gurupi)
• 4.6 Moz Au Measured & Indicated Resources (includes Gurupi)
• Mar-2016 Pilar Gold Mine (Caeté Gold Complex) increased
Reserves 310% to 172,000 oz, grade 63% to 4.39
They just had some great discovery results at the Pilar Gold mine released last week:
Jaguar Intercepts High-Grade Gold Mineralization at Pilar Gold Mine; Strong Potential to Convert Additional Mineral Resources and Reserves
Toronto, Canada, September 26, 2016
(Check out their site for the news release)
The AISC at Turmalina is $860, which is great, but at Caete (a combination of the Roca Grande Mine + Pilar Mine) it is $1,468 for a combined AISC of $1203 between both complexes. The work is really focused to bring down costs at Caete’ and the recent exploration work at Pilar is well on the way to do so. They also have their Paciencia mine and complex on care and maintenance waiting for higher metal prices, but all infrastructure is in place and they can restart things rather quickly there.
_______________________________________________________________________
Jaguar Mining Corporate Presentation from September:
http://www.jaguarmining.com/i/pdf/presentation/presentation.pdf
Klondex Mines Completes Acquisition of Hollister and Esmeralda Mines; Announces Conversion of Subscription Receipts
Project Acquisition Nevada
VANCOUVER, BRITISH COLUMBIA–(Oct. 3, 2016)
Argonaut Gold Announces Completion of El Creston Confirmation Drilling at its La Colorada Mine
Toronto, Ontario – (October 3, 2016) Argonaut Gold Inc. (TSX: AR)
Silver Bear Resources (SBR) (SVBRF) Announces Updated Mine Plan and Feasibility Study for Mangazeisky Silver Project, Yakutia, Russia
TORONTO, ONTARIO–(Oct. 4, 2016)
Graham Hill, President and Chief Executive Officer, commented: “The Updated Feasibility Study demonstrates that we are able to realise the increased value in the recently updated Vertikalny mineral resource estimate, and highlights our project’s extremely robust economics. The better defined and even higher grade ore zones have allowed us to refine the open pit and underground designs to maximise operating cash flow, particularly in the first half of the mine life. The outcome of this effort is reflected in a 97% increase in pre-tax IRR from 43.6% to 86.1% and the pre-tax NPV (5%) from US$ 79.7 million to US$ 132.6 million, with only a nominal increase in initial capital costs.”
$IVN Ivanhoe Mines – Updated Corporate Presentation – October 2016
https://www.ivanhoemines.com/assets/docs/ppt/progress-gallery-oct-2016-3.pdf
Go Ivanhoe
DB collapsing?
oops, I said earlier I hit a 5 bagger with potshares.
I think I was more mistaken than wrong but it was only 3.5x.
Still, …better than sitting in cash the last month.
I sorta expect them to increase until its legal in Canada, a few months away.
Of course the whole market could crash, then they would get hit I would think.
TFMR Podcast – Friday, September 30 By Turd Ferguson | Tuesday, October 4, 2016 at 2:02 pm
The quarter ends with gold down about 0.5% while silver was up 2.5%. Not too shabby considering how quickly prices rose in the first half of 2016. Now, what will Q4 bring?
http://www.tfmetalsreport.com/podcast/7893/tfmr-podcast-friday-september-30
Market Wrap BETTER cover the gold and miners dump today or I will be seriously disappointed.
What’s to cover?
They were slaughtered
Nothing to see here
Bill Holter’s latest.
GDX volume was its largest ever today:
http://stockcharts.com/h-sc/ui?s=GDX&p=D&yr=2&mn=2&dy=0&id=p60179638620
By a relative hair, the same goes for GDXJ:
http://stockcharts.com/h-sc/ui?s=GDXJ&p=D&yr=2&mn=2&dy=0&id=p46912816876
Strangely, the volume on the metals was not close to record.
I guess there were a lot of margin calls on idiots (and hedge funds) using high leverage.
The world has changed. Everyone wants to maximize profits, without much concern for risk.
That used to be what options were for. But now there are many traders; many being taken to the cleaners.
Even Livermore ending up broke by not managing risk well enough. And he was a lot better connected and smarter than most of us.
A deadly sin is greed.
Whatever the reason for the volume, I like it. Sure, it suggests a little more short term downside, but it also suggests that, once this correction is over, the miners will be in very good shape for the next leg higher. A volume spike after an eight week 20%+ correction tends to happen close to a turn to the upside.
The weak hands are spent, or very close to it, and that’s always a good thing.
Very well said and I concur Matthew. It’s like ripping off the band-aid – better to do it all at once in a short time frame, versus slow and grinding over a long time.
Get the correction over with on high volume, shake out the weak hands, consolidate, and start the next leg higher. Rinse & Repeat.
Yeup, since even weak hands can hang-on through a grinding decline, the big money manufactures quick, violent declines to get them out. Conversely, they manufacture grinding declines in bear markets in order to keep weak hands in their positions as long as possible.
433m shares on issue Matthew…that’s HUGE!!!
HUUUUUGE!!!!
UUP (USD ETF) stopped right at a modified Schiff fork resistance today so we just might be in for at least a bounce in the miners very soon. Maybe more…
http://stockcharts.com/h-sc/ui?s=UUP&p=D&yr=0&mn=11&dy=0&id=p94705782143&a=471001203
I just ran the numbers on gold:
Price Support Pivot Point Resistance
1,271.54 1,236.86 1,282.60 1,328.34
It looks we might be able to get back above the pivot on a dead cat bounce and continue up.
It all depends on whether the gold banks have closed out all the shorts they were hurting from. Volume on the metals was not that high though, so I don’t know.
I will be a little surprised (just a little) if gold can fall through 1255-1250 to your 1,236 pivot.
Thanks for sharing those.
The dollar index could drop:
Price Support Pivot Point Resistance
95.993 95.440 96.123 96.806
For UUP:
Price Support Pivot Point Resistance
24.84 24.70 24.85 25.00
See how much banks kicked back to the Democratic National Committee after receiving TAX-PAYER money via the TARP program.
Lowell Copper, Gold Mountain Mining and Anthem United Announce Closing of Concurrent Financing in Connection With Proposed Business Combination
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Oct. 4, 2016)
I’m psyched about the bust in PM shares!
To my eye lots of PM related charts suggest further downside….on the GDX I’m also thinking 22, 20 on the outside…
http://stockcharts.com/h-sc/ui?s=%24HUI%3A%24GOLD&p=W&yr=10&mn=0&dy=0&id=p36959240869
GH – Thanks for the chart.
We’ll all get a great opportunity to add or start new mining positions for sure into this corrective move.
K92 Mining revives an old Barrick asset – BNN Video
K92 Mining, a Vancouver-based, venture listed company, just announced that they will have deeper pockets, as they increased their financing to about $12.5M and the stock has climbed 62 per cent. K92 Mining plans to revive and old Barrick asset with the funds and Bryan Slusarchuk, President & Director with K92 Mining joins BNN to explain how.
http://www.bnn.ca/commodities/video/k92-mining-revives-an-old-barrick-asset~915499
This is an older video from BNN – but it does a good job of laying out the story for K92 Mining.
I got confused because there is supposed to be an update on the progress K92 is making that is coming out on BNN (apparently it is tomorrow morning).
Stay tuned…..
K92 Mining Commences Gold Production at Kainantu Gold Mine
– K92 Process Mill has Successfully Treated the First Batch of Underground Ore Delivered from Irumafimpa, With Concentrate Now Produced
– Concentrate Shipment Deliveries Anticipated to Start Nov 2016
– Gold Production at Irumafimpa Will Ramp Up to Steady State Operations, Reaching an Annualised Production Rate of 52,000 Au Per Annum, Over Coming Months
Well, with the VP Debate just ended, I think both the VPs are better than the Presidential candidates!
Off Topic:
Dick Tracy – This post is for you if you happen to see this:
_______________________________________________________________________
FANUC to Build Factory of the Future Using NVIDIA AI Platform
Leaders in Factory Automation and AI Computing Partner to Advance AI for Manufacturing
TOKYO, JAPAN–(Marketwired – Oct 4, 2016) –
“GTC Japan — NVIDIA and FANUC Corporation today announced a collaboration to implement artificial intelligence on the FANUC Intelligent Edge Link and Drive (FIELD) system to increase robotics productivity and bring new capabilities to automated factories worldwide.”
Adding AI to the FIELD system will give robots the ability to teach themselves to do tasks faster and more efficiently. By learning together, what used to take a single robot 8 hours can now be done by eight robots in an hour.
“The age of AI is here,” said Jen-Hsun Huang, founder and CEO of NVIDIA. “GPU deep learning ignited this new wave of computing where software learns and machines reason. One of the most exciting creations will be intelligent robots that can understand their environment and interact with people. NVIDIA is delighted to partner with FANUC, the world leader of industrial robotics, to realize a future where intelligent machines accelerate the advancement of humanity….”
Thanks for the post Ex, I like the spin of the advancement of humanity, it’s more about the decline of humanity as artificial intelligence takes over. California passed legislation about two weeks ago to allow driverless cars on it’s roads, but still here we see uber drivers and taxi drivers fighting over market share instead of worrying about where they will soon find employment. Humans just aren’t equipped for the changes they have created, that will doom our species. DT
I thought you may get a kick out of that line “for the advancement of humanity”. 🙂
On the down move in PMs, it would make sense for the big boys to flush this huge move, and hard.
Stampede the herd from one side of the boat to the other is the name of the game.
If they knock it WAY back down, after having taken profits at the top and shorted on the way down, they multiply their winnings hugely.
This is the best buying opportunity left, i.m.o.
The volatility charts sure look set for a spike, to me. A jolt in the general markets could give give the PM shares an extra shove.
To be clear, a shove further down.
$VXO:
http://stockcharts.com/h-sc/ui?s=%24VXO&p=D&yr=3&mn=0&dy=0&id=p97039068294&a=417766887
Full disclosure, I am currently long in the oil sector, and long on volatility. I may sell my oil exposure for the very short term as I think a volatility jolt is imminent.
Good thoughts on the rationale for the “big boys to flush this huge move, and hard.”
I also believe that the volatility will not stay in the basement forever, and is overdue for a meaningful spike up.
MT CATTLIN BEGINS WET COMMISSIONING – #Lithium #Tantalum
Galaxy Resources Limited $GXY.AX $GALXF is pleased to provide the following update for its Mt Cattlin Project in Ravensthorpe, Western Australia.
http://www.galaxyresources.com.au/media/announcements/43bpts7562spgv.pdf
The NYMEX opens and a big buy happens!
But China is closed until Monday. I wonder if there will be another takedown.
Catherine Austin-Fitts……Over 9 Trillion stolen……must listen.
Up to $50 Trillion missing.
http://usawatchdog.com/controlled-demolition-coming-not-a-crash-catherine-austin-fitts/
Like she said. “As I have described many times”….wake up people
Financial fraud……and the shifting of all assets out of the country.
$9trillion Missing
Enforce the constitution. Smart minds of America better wake up!
Big Owl …You need to get her back on!
Look out for ,”A constitutional convention”,
Just prior to the downfall of any nation is when the nations elected officials ” loot the countries treasury “. This election is the most important in generations. If Trump doesn’t win, this place is toast! Guaranteed !
Ditto.
Nothing wrong with a Convention of the States.
Catherine Austin-Fitts needs to read the Constitution.
A convention of the states is NOT a Constitutional Convention, where anything is up for grabs.
A Convention of the States would produce amendments to the Constitution, which would then have to be ratified by the states.
This, in my opinion, is the only way to introduce term limits and spending limitation on Congress.
Do you seriously think Congress-critters would ever propose term limits on themselves, or spending limitations?
Once ratified by the states, such limitations would not be subject to a congressional vote or presidential veto.
Our founding fathers provided this way around an over-bearing power-hungry president or Congress. But the ratification by the states requirement provides a check.
I think she is concerned that it will be charged to and for the benefit of the corrupt minds in gov’t
Our founding fathers knew we should not have an income tax and and unfair weights and measures(central banks/Fed).
Full time politicians is Wrong.
A little Roman history has proven that
Term limits …absolutely
Maybe if we can get Snoop dog,M&M, and the Kardashians to endorse a state convention,something might get done.Lol
El Capitan Precious Metals Executes Agreement with AuraSource for Sale of 600,000 Metric Tons of Head Ore and Hosts Shareholders at New Mexico Mine Site
2 hours 7 minutes ago – DJNF
SCOTTSDALE, Ariz.–(BUSINESS WIRE)–October 05, 2016–
“El Capitan Precious Metals, Inc. (ECPN) announced that it has executed its agreement with AuraSource, Inc. (ARAO) for the sale of up to 600,000 metric tons of head ore over the next 12 months. This agreement, as previously reported, is renewable for five additional, one-year terms.
The revenue to ECPN would be $180 million per year at a cost of approximately $30 per ton for mining and loading.
Capitan Shad says $180 Million per year is nice…… 🙂
take away the $18 million for cost and they are left with $162 in annual revenue from their Gold & Platinum endowed ore.
El Capitan Precious Metals Inc (ECPN)
$0.0799 Up + $0.0079 (10.97% gain)
Gold Gets Pummeled
by @Goldfinger on October 5, 2016
No problem stay strong!
Yeah, I’m not worried and have been buying PM miners.
I posted the article for the technical traders because Goldfinger has good charts included in his articles for reference.
Cheers!
PMs down again, pot shares up again.
Yeup – the pot shares have been getting high-er…..
It is the speculative trend followers (some of whom left Gold Jrs and Lithium etc…) to chase things higher before the Nov Elections in the US and the decision in Canada.
Here was a funny line from a newsletter writer on CEO
@stateside – “Just like in 2014 all of the small retail specs have sold all of their gold jrs and have rushed into the weed stocks. The pumping on several other boards is a sight to behold LOL.”
Then there was this comment too:
@stocklor – “On the weeds boys. Oh, and I’m tradin’ some of them MJ stocks, too. Have to go where the action is.”
Medical Marijuana Update: Let’s round up the little guys, by ChrisParry
@ChrisParry/medical-marijuana-update-lets-round-up-the-little-guys
$VRCI $AFI $BUD $VPOR $BLO $THC $MJ $TNY $ATT $MGW $SUN $IN $GHIL $WWM $VRT $BE $ABA $AGS $EAT $GLH $VP $EDXC $CYX $FITX $IMH $LXX $NSP
That link didn’t work, but this will:
https://www.ceo.ca/@chrisparry/medical-marijuana-update-lets-round-up-the-little-guys
Note to Big Owl…..see if you can get C.A.Fitts on the show before the election.
*Finally we get news of the much anticipated PGM & Nickel drilling for Northern Shield. There are many investors chomping at the bit for those assay results.
Northern Shield Completes First Phase of Drilling at Huckleberry; Prepares for Drilling at Séquoi
OTTAWA, Oct. 5, 2016
I am glad they are going to drill the Sequoi target in November (before the freeze up), as it is the one with the VTEM that everyone is so excited about. Regardless, the assays from Huckleberry will be interesting to review. There are 2 other targets slated for next year’s drilling that look quite prospective as well.
Gotta love the drill plays that are going elephant hunting….
I incompetently speculate that gold prices in $U.S. will bounce off the 232-week EMA.
http://schrts.co/5aVZSw