Comments on the FOMC statement and US funds looking at gold
There is not much to talk about today for the markets but some news events did catch my eye. The FOMC statement today was so boring that I think it deserves a comment. The statement showed the Fed is also confused at to what Trump is going to be able to do for the US economy. I wrap it up with a comment on US funds shining a more bullish light on the gold sector.
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I still see price inflation coming:
I don’t think this Falco presentation was cited here before:
Another Thom commentary
Thanks Wolfster. Interesting news on Nickel One, and anticipation for results from Yamana and Agnico Eagle and how that relates to Abitibi Royalties and Golden Valley mines 49% stake in them.
Also, Thom touched briefly on the Cameco and TEPCO mess where they are trying to exit the longer term off-take agreement, and this really tanked Cameco’s shareprice today, and sets up a dangerous precedent. I spent half the morning debating the ramifications with investors, but it is a significant development in the Uranium sector.
BTW – Still continuing to research Cobalt companies. Lots of buzz around it as a battery component.
I had the yamana/agnico eagle update pegged for mid to late February ..Also have Aury on the take out list in the next 12-18 months and have fortune minerals and ecobalt as my cobalt picks……also am a holder of brixton now. Interesting to see what happens today with excelsior trading on the big board as of today
Aury=Auryn
Yes, I’m looking at both Fortune Minerals and eCobalt as well as about a dozen others as options. Found some new ones yesterday when a cobalt discussion broke out.
Welcome aboard the Brixton Train. They have Silver, Gold, Zinc, Lead, and Cobalt…. that works for me.
Weaker US$ Could Send Gold & Gold Stocks to Higher Targets
Jordan Roy-Byrne CMT, MFTA – 02/02/2017
https://thedailygold.com/weaker-us-could-send-gold-gold-stocks-to-higher-targets/
could ………the guru’s favorite word…..or one of ……Should would be a more favorable for the moment…… . “)
Shoulda, coulda, woulda……. However, nobody has a crystal ball, so all analysts can do is make a project based on what could or should happen. As long as they show the rationale behind their thinking, the price targets for support/resistance and how they derived them, then that’s good enough for me to consider it in my wheelhouse of ideas.
project = projection
I like the crystal ball theory…….works for me every time ….. O^Otb
You can get them on Ebay and Amazon and join the guru ranks.
However, I find using a Magic 8 ball works just as well:
Watch out for the magic ate ball, they have been known to eat your lunch…….
Duly noted.
FED is stuck………
Yep, they painted themselves into a corner years ago….now it’s just words, stalls, mini-hikes, stalls, words, data dependent, words, reviewing, next meeting…. next meeting…
Yep, …..Ex.., everyone around here knows the story……..Yellen and Uncle Ben, need to be hung out to dry along with every idiot congressman……….FED and Central Banking SCAM.
The NEXT BIG SCAM……..RENT TO OWN HOUSING>>>>>>
this is nothing like in the past…….this one will get a govt backed guarantee
Roxgold Identifies New Shoot at Bagassi South Along the QV’ Structure and Continues to Extend the 55 Zone at Depth
Richmont Announces 2017 Guidance with Island Gold Mine Positioned for Another Record Year
Feb. 2, 2017 /CNW/ – Richmont Mines Inc. (TSX – NYSE: RIC)
Marlin Gold Intersects Highest Grade x Thickness Intercept in Commonwealth Project’s Modern History with 3.75 g/t Gold Equivalent Over 26.7 Meters
Feb. 2, 2017 /CNW/ – Marlin Gold Mining Ltd. (TSX-V: MLN)
Novo Receives Positive Metallurgical Results from Beatons Creek
TheNewswire / February 2, 2017 – Novo Resources Corp. (NVO) (NSRPF) is pleased to announce metallurgical test results from its 100% controlled Beatons Creek gold project, Western Australia.
https://www.ceo.ca/@thenewswire/novo-receives-positive-metallurgical-results-from-beatons
Metanor Intersects 9.6 g/t Au Over 7.6 m at Bachelor Mine
(Marketwired – Feb. 2, 2017) – Metanor Resources Inc. (MTO)
Monarques Gold Intersects 46.6 g/t Au Over 0.6 Metres on Croinor Gold
Feb. 2, 2017 /CNW/ – MONARQUES GOLD CORPORATION (MQR)
Purepoint Uranium Opens the Season by Extending High-grade Spitfire Results along 115 Metres of Strike Length
(Marketwired – Feb. 2, 2017)
“Purepoint Uranium Group Inc. (PTU.V) today reported that high-grade Spitfire Zone mineralization has been confirmed along strike for 115 metres. Assay results for the first hole of the current drill program, HK16-55, have returned 13.3% U3O8 over 1.5 metres within a 9.5 metre interval that assayed 2.92% U3O8. Purepoint is the operator of the Hook Lake project on behalf of its Joint Venture partners Cameco Corp. and AREVA Resources Canada Inc.”
Cameco considering legal action after Japanese utility (TEPCO) cancels $1.3 billion Uranium contract
ALEX MACPHERSON, SASKATOON STARPHOENIX 02.01.2017
Energy Fuels Announces Chemical Assay Results Confirming More High-Grade Uranium & Copper Mineralization at the Canyon Mine; Share Sales to Satisfy Tax Withholding Requirements
Feb. 2, 2017 /CNW/ –
“Energy Fuels Inc. (NYSE MKT: UUUU; TSX: EFR), a leading producer of uranium in the United States, is pleased to provide the following update on the underground drill program currently occurring at the Company’s Canyon Mine, which is a high-grade uranium mine being developed by the Company in northern Arizona.
The Company is continuing to discover large and high-grade areas of uranium mineralization, which the Company expects will result in a larger recoverable uranium resource than what is currently described in the existing technical report for the Canyon Mine, prepared in accordance with National Instrument NI 43-101, Standards for Disclosure for Mineral Projects (“NI 43-101″). The Company is also continuing to discover additional zones of high-grade copper mineralization, both inside and outside the areas of potentially recoverable uranium mineralization.”
Reading all this wiith interest Excelsior.
Purepoint is Nexgen’s neighbor and part of the same trend so it makes sense they are finding good grade.
Cameco is a mess, and TEPCO denying delivery (because their contract price was at $107 when spot is only $25) is the real issue, but they are getting out of the contract due to the Force Majeure clause.
Energy Fuels continues to impress, and they keep finding more and more mineralization outside of their published resources. Also this Copper find is interesting, and is just a further kicker credit on that project.
Fun times!
Cameco having a direct affect on URA due to it being such a large component of the uranium etf. I was looking at both charts earlier and weighing up whether to buy some of both – but I guess this TEPCO news can give a lot more downside yet?
Oddly enough, I am right now listening to Cory’s interview from Nov 1st with Energy Fuels.
Energy Fuels will be fine for the longer term, and with U stocks continuing to pull back (accelerated by the Cameco/TEPCO news) it is looking more and more attractive to add again.
One company I have been steadily adding into this weakness has been Anfield Resources. An undervalued Uranium developer operating in the US and will be producing in the near future. It’s not widely followed (yet)….
Silver and Gold miners are off to the races today…. Nice to see more green on the screen….
The bond market may well drop enough that the Fed’s power to do anything will be irrelevant.