PM stocks are hanging up there… But is that good for next week?
Dos and I dive further into the conversation we had on the market close regarding gold stocks hanging up relatively well in the face of the falling gold price. This can be a positive sign and show that the gold drop is over but don’t put all your eggs in that one basket. Some of the technical patterns point to a drop coming as early as next week.
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Jason, it’s a tough market—-gold has had a nice little reversal today which is helpful but I believe we might get lucky and drift just mildly to the side and lower—let’s hope for that.
Doc – as always your input, candid thoughts, and market analysis is always appreciated.
robbers make off with 81 gold bars worth $2.8 mil while leaving 177 gold bars worth $6.4 mil behind under a tarp that they didn’t notice. http://www.scmp.com/news/hong-kong/law-crime/article/2048224/city-wide-police-hunt-launched-robbers-who-snatched-hk20
I see Jerry has got himself a gang now. He just wants to give himself & Big Owl a super-duper Birthday present.
Dang it Irish , I ran off and forgot your share,sorry.
Thanks for remembering the birthday. ..
Look IrishT – Andrew and I were going to let you in our gang for scouring the ocean depths for that lost golden treasure that sunk of the coast of Colombia.
All the Gold Mafia is mobilizing and making their moves on physical, and you gotta be in it (gang) to win it.
Go Leprechauns!!
I made a killing. Thank you, Mexus!
+1
As for Mexus Gold (MXSG) – I got in at $.0035 and starting adding tiers all the way up to $.04. As of today it was trading at $.1194, and closed at $.1147. Along the journey I’ve trimmed and have a free ride in it and killer gains so far in 2016, but now I wish I had kept the entire position. I do expect a pop on the production news, but then it wouldn’t surprise me if it cooled off a bit.
MXSG is up big time from its $.0015 low this year.
52 Week High 11/29/2016 | 0.12
52 Week Low 1/21/2016 | 0.0015
% Off 52 Week High (1.33)%
% Off 52 Week Low 7,846.31%
There’s an investor that sent me an interesting post today on Mexus worth sharing:
Bobbyinredwood – “@Excelsior, The Merril Crowe is currently at customs and should be released today or tomorrow. Pad will be poured and ready for placement, simple PVC hook up won’t take much time, say a day.
If we are going to pour gold by mid December we’ll have to start spraying cyanide by the end of next week or soon after. Maybe we will get a PR stating as much soon.” about 6 hours ago
@Excelsior – “Yes $MXSG Mexus Gold is very under the radar for a near-term #Gold #Production success story. That is great news on the #development progress on the ground @Bobbyinredwood. I’ve been following the photo updates on their website watching them move things along. They just put up fences earlier in the week.”
Gains have just been insane, Excelsior. Still undervalued though once the sparks start flying during their first gold pour.
I was able to pick up about a million shares at $.003 price range as well, but am kicking myself I didn’t pull the trigger on more. I always knew the property was good, but I was waiting for sideways to down action that never came. Most of my shares are in certificate form for participating in private placements so a lot of the float is locked up in solid hands and also restricted. Other investors I know are in the same camp. Should make for a further explosive move in the future.
Yep, I was waiting for a pullback that never came as well, but it’s just kept rocking higher.
What do you think of the statement that bobbyinredwood made:
“If we are going to pour gold by mid December we’ll have to start spraying cyanide by the end of next week or soon after. Maybe we will get a PR stating as much soon.”
Do you think they’re going to make the gold pour by year end?
I just know most mining companies are notorious for missing deadlines, but I have to say that their partner MarMar has been keeping their word and been slightly ahead of schedule during the whole development process, and I’ve been impressed thus far.
TI’m counting on it! If they are a week or two late, it will just be a Happy New Year vs a Merry Christmas.
It wouldn’t surprise me if Fresnillo is starting to really get interested in Mexus, Excelsior. I know it’s not talked about much, but they have had an eye on that property for years and the heavy lifting is about complete. A few quarters of profit and they may have to finally pay up if they want it. They already know MarMar who was their contractor on the La Herradura mine next door to us, so it wouldn’t surprise me. Just my 12 cents worth. I also wouldn’t mind no buyout and just produce 100,000 ounces for the next 20+ years.
When I read that about Fresnillo in MarMar’s back story, then the whole picture started becoming a bit more clear to me. Yes, I’d prefer to see them gradually ramp up production for Santa Elena, and then get their Ures property up and running with El Scorpio and Ocho Hermano into production. If they get bought out before they bring San Marco into the mix (but possibly further drill out and define that resource) then that would be a good time for a buyout as their share price would be substantially higher at that point. Just my thoughts on the ideal scenario…. but I’d call it a nice win so far no matter what happens moving forward.
Canada’s Zonte sues Colombia authorities over Gold Permit Rejection
Cecilia Jamasmie | about 10 hours ago
http://www.mining.com/canadas-zonte-sues-colombia-authorities-over-gold-permit-rejection/
CHART: Trump slump for gold mining stocks
Frik Els | about 20 hours ago
Lundin shares bounce on payout, guidance
Frik Els | 39 minutes ago
Great Panther Silver Temporarily Halts Processing at Topia Mine to Facilitate Transition to New Tailings Facility
Rockcliff Purchases Near Surface Unmined High Grade Zinc Deposit
First Mining Finance Provides Corporate and Exploration Update
(Marketwired – Dec. 1, 2016)
Pilot Gold Reports Continued Drilling Success at Goldstrike Oxide Gold Project in Utah
(Marketwired – Dec. 1, 2016)
Like the oxygen capital group.they know how to make shareholders money
Been waiting for 19 gdx since 30+. The best buy zone could be in the 14 to 17 area.
Dang Doc! I am trying to make a buck on silver and miners today and can’t catch a break! Stopped out on DSLV and JDST. Only lost about $5 total but out none the less. Still BAG HOLDING on USLV and NUGT.