Wednesday Morning With Chris Temple
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Gold is firming up despite the continued strength of the U.S. dollar.
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Avino’s SEDAR filings include:
San Gonzalo mine
A measured and indicated resource of 490,000 tonnes at an average grade of 250 g/t silver and 1.37 g/t gold totalling 5.1 million troy ounces of silver and 21,600 troy ounces of gold using a cut-off grade of 125 g/t silver equivalent.
An inferred resource of 540,000 tonnes at an average grade of 314 g/t silver and 1.58 g/t gold totalling 5.4 million troy ounces of silver and 27,300 troy ounces of gold using a cut-off grade of 125 g/t for silver equivalent.
Measured and indicated tonnage at San Gonzalo has increased by about 67 per cent, while the inferred tonnage has decreased by 50 per cent from the previous estimate. The lower inferred figure takes into account resource depletion from the mine’s operations since 2012.
The San Gonzalo vein system is comparatively high grade and provides flexibility during times of uncertain metal prices.
The Avino mine
A measured and indicated resource of 1.45 million tonnes at an average grade of 72 g/t silver, 0.34 g/t gold and 0.64 per cent copper totalling 3.4 million troy ounces of silver, 18,551 troy ounces of gold and 9,350 tonnes copper using a cut-off grade of 55 g/t silver equivalent.
An inferred resource of 5.79 million tonnes at an average grade of 81 g/t silver, 0.57 g/t gold and 0.58 per cent copper totalling 15.1 million troy ounces of silver, 106,000 troy ounces of gold and 33,600 tonnes of copper using a cut-off grade of 55 g/t silver equivalent.
The Avino vein system contains the most tonnage on the Avino property and includes significant copper grades. Development drifting on the Avino mine totalled 2,855 metres in 2015 and 1,108 metres in the first half of 2016.
That is just on the San Gonzalo Mine. They also have the Avino Mine, the old Oxide Tailings (that they are going to put into production for the next 5 years), and the Bralorne Gold mine.
I partly disagree with Mr. Temple.
Much gold buying of physical metal in the first half of the year originate from Asia.
China just reported its purchases for August, and it is still buying.
Secondly, both Norway and Switzerland were buying mining stocks significantly early in the year.
The buying was not solely from Hedge Funds.
Those were the “strong hands” I referred to, CFS, and others. My point was not that ALL gold buying was by hedge funds; I did not say that. But too much of it was, and that money is fickle.
Vandermeulen has concerns of banking collapse in Europe spreading to US.
Any information on the recent huge drop in Rye Patch?
Yep – too much dilution.
Check their site and announcements.
October 17th 243 million more shares become tradable.
This why you have always to watch warrants issue on financings.
It is a favorite trick of Canadian brokers to naked short as the hold period for warrants end.
Stupid (inexperienced) mining CEOs never seem to learn.
I thought one BIG reason Rye Patch was so loved on this site was the management?
Guess thats an oops?
CFS, thats not stupid inexperienced CEOs.
Agreed Tony. Now know as “the little engine that can’t!”
Mickey Fulp a week ago.
66.55.82.141:2199/tunein/rdellape.pls
Oops.
http://www.themercenarygeologist.com/
Click on right hand side for Mickey interviews.
In the last few days, I.e. this week…..
GLD had a large INCREASE OF 9.76 TONNES
(Total claimed gold inventory rests at: 958.90 tonnes of gold, some physical, some paper)
For SLV, we had a WITHDRAWAL at the SLV to the tune of 1.762 million oz
The SLV Inventory rests at: 361.147 million oz again some physical, some paper.
Much of this action may be hedge fund action.
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I took some big profits yesterday on oil with the crowd. I am buying back the dips today. So far 6000 USO. I expected oil to go down to about 49.80 and it almost made it there.
Here is Larry Edelson take on gold today.
http://www.moneyandmarkets.com/wow-see-gold-82328
He forecast it all right…back when gold was still $1,050. He said it was going much lower. But he forget to say it would go UP $300/oz. first. Real gas bag; full of himself but not too accurate.
Here’s an interview with ceo of trevali
http://www.bnn.ca/video/trevali-mining-rides-high-with-zinc~970371
Surprised callinex has sold off to low .30’s.drill results seem good.
http://www.stockhouse.com/news/newswire/2016/10/11/callinex-intercepts-new-mineralization-near-large-target
Excelsior ,you like the royalties.any thoughts or insights on jubilee gold???
Yes, I do like many of the Royalty companies. No thoughts on Jubilee Gold though.
BTW – Wolfster – I really enjoyed that GZZ RZZ article you posted yesterday. Much appreciated.
Glad to be able to contribute to the cause.I just wished gzz would get more appreciation.🙂
It will once a company like Osisko gets in the mix and tries to acquire RZZ or back door into it through GZZ. For now, I’m just acquiring some every so often to add to the position while it hovers around this trading range. I’m also interested to see how things progress with Sirios (own stake and NSR) and Bonterra (JV with partial stake + NSR)in the meantime to keep growing value. Also GZZ still has all those other properties in the right neighborhood to option out to other companies. Those would be new catalysts beyond just half ownership of Abitibi Royalties.
Novo Resources drills 35.1m of 1.72 g/t Au at Tuscarora
2016-10-12 11:12 ET – News Release
Dr. Quinton Hennigh reports
NOVO PROVIDES UPDATE ON EXPLORATION
Novo Resources Corp. is providing an update on recent exploration drilling activity at its Blue Spec and Tuscarora gold projects.