Richard Postma - The Doctor Is In – Wed 15 Feb, 2017

Big Al and Doc discuss some gold stocks and the general tenure of the gold market.

Even though both GDX and GDXJ are off today, our sponsor companies are doing just fine and this is not investment advice.

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Featuring:
Al KorelinRichard Postma

Comments:
  1. On February 15, 2017 at 10:50 am,
    Matthew says:

    The mid to long term tenor of the gold market is supportive of a bullish outlook:

    http://stockcharts.com/h-sc/ui?s=GLD&p=W&yr=5&mn=0&dy=13&id=p89290120593

  2. On February 15, 2017 at 10:58 am,
    Excelsior says:

    Northern Dynasty stock hammered by short-seller report
    Cecilia Jamasmie

    http://www.mining.com/northern-dynasty-stock-hammered-by-short-seller-report/

    • On February 15, 2017 at 10:59 am,
      Excelsior says:

      These 10 companies spend most looking for gold, copper
      Majors and juniors swap roles in $7 billion a year mining exploration sector
      Frik Els | about 2 hours ago

      http://www.mining.com/10-companies-spend-looking-gold-copper/

      • On February 15, 2017 at 11:01 am,
        Excelsior says:

        Teck swings to profit in Q4 but misses expectations
        Cecilia Jamasmie | about 4 hours ago

        http://www.mining.com/teck-swings-to-profit-in-q4-despite-missing-expectations/

        • On February 15, 2017 at 12:17 pm,
          Marty says:

          TECK = correct symbol pertinent: mining.com
          GARWF, nice move today, I wonder if merger with SSRI Pirquitas is imminent

          • On February 15, 2017 at 12:21 pm,
            Marty says:

            CDE – would love to see it push into the $8.80s

          • On February 15, 2017 at 12:32 pm,
            Excelsior says:

            Marty – Yes (GARWF) (GRG) is making good progress, and it is inevitable that that (SSRI) gobbles them up, but when that happens the share price will be up substantially above present levels. This one’s still getting it’s legs as most investors don’t realize that this is the 7th largest Silver mine being put into production together on their JV.

            Another thing that may be confusing is that their name is Golden Arrow but they are about to gangbusters into Silver. I’d say they should do a name change, but we both know the name will eventually be Silver Standard Resources once they are acquired.

          • On February 15, 2017 at 12:33 pm,
            Excelsior says:

            Yeah, Coeur has been a hot mess after their earnings report, but this sell off is likely getting a bit exaggerated.

          • On February 15, 2017 at 12:45 pm,
            Marty says:

            A good assimilation of an existing mill with a depleted property and a flourishing developer in Argentina. SSRI – GARWF( gotta be in it to win it.)

          • On February 15, 2017 at 12:51 pm,
            Excelsior says:

            Marty – Absolutely!

    • On February 15, 2017 at 12:45 pm,
      Dick Tracy says:

      It worked out good for me, I sold first thing yesterday morning and bought back in an hour later. Today the shorters opened with a flurry but their party fizzled out. We are back in the green and on Friday the company will release it’s rebuttle, I don’t think they need it anyway. DT

      • On February 15, 2017 at 12:48 pm,
        Dick Tracy says:

        NDM!

      • On February 15, 2017 at 12:51 pm,
        Excelsior says:

        Well Kerrisdale is a bit of “smear campaign” organization. If you remember, they were the one’s that went after First Majestic last year and their stock sold off hard initially, and then recovered. They are widely followed though, and clearly their hit piece took a toll on the stock (at least in the short term).

        I figured that mining.com review was worth posting with some many following Northern Dynasty due to the Rick Rule / Doug Casey / Marin Katusa constant promotion.

        It is definitely going to be a story to keep following….

  3. On February 15, 2017 at 12:08 pm,
    Paul L says:

    I will again sell some xop I bought on the dips near the end of the day when investors come in to buy the top or short cover.

  4. On February 15, 2017 at 12:09 pm,
    Excelsior says:

    Just a quick update:

    We just broke the 1000 people online at once threshold over at ceo.ca. That’s a pretty cool milestone. There are over 500 on the #Index alone.

    It just speaks to how much interest there is coming back into the resource sector.

    https://ceo.ca/

  5. On February 15, 2017 at 12:39 pm,
    Excelsior says:

    Gold back up to $1232. Platinum back to 4 digits at $1006.

  6. On February 15, 2017 at 12:58 pm,
    Excelsior says:

    Trail Zinc output set to dip from record level in 2017: (TECK)
    London (Platts)–15 Feb 2017

    “The Trail zinc refinery in British Columbia is expected to produce in the range of 300,000-305,000 mt of refined zinc this year, down from a record 311,600 mt produced in 2016, owner Teck Resources said Wednesday.

    The Canadian company’s zinc-in-concentrate production in 2017 is expected to be in the range of 660,000-680,000 mt compared with 661,600 mt produced in 2016, with output at the Red Dog mine in Alaska expected to fall by around 28,000 mt primarily due to lower ore grades.”

    http://www.platts.com/latest-news/metals/london/trail-zinc-output-set-to-dip-from-record-level-26663719?utm_campaign=plattsbulletinemailtemplate_dyncontent%20-%20new%20eg&utm_medium=email&utm_source=eloqua

  7. On February 15, 2017 at 2:31 pm,
    Ronny says:

    Hi Big Al.
    Was wondering if you still like Amarillo Gold?

  8. On February 15, 2017 at 2:54 pm,
    Dan, calgary says:

    SGN has been taken out to the woodshed. It is no longer my largest holding.

    http://stockcharts.com/h-sc/ui?s=SGN.V

    • On February 15, 2017 at 4:23 pm,
      Excelsior says:

      Hi Dan, calgary. Personally, I’m not concerned at all, considering they just announced settling that legal dispute (which in my eyes was a big positive), and had a few bad holes. So quickly people have forgotten all the other killer high grade holes they’ve drilled on those targets in the past, and why they were doing more drilling. The truth is likely in between those two extremes and its they’ve stated they need more definition drilling to sort it out. It will likely end up being economical to mine at gold above $1300, but maybe not as high grade as originally envisioned. Regardless they have about a dozen targets for shallow pits that will feed their processing center, and many of those drill programs had great hits. Moving forward for Scorpio I believe things will improve for them over the next 12-18 months and they’ll emerge as another great turn around story like Teranga, Argonaut, Jaguar, and Americas Silver are emerging from the tough times into much better times. It will be fascinating to see if they can shift into growth mode at the same time metals prices start rising going into next year.

      Honestly, it could have been worse all things considered. (but then again, it isn’t my biggest position either, so I understand wanting to take corrective action). I’ve also been building a position in it for years and am in my position at minimal costs, so it really comes down to one’s cost basis and whether you feel it is a permanent issue or a short term set back. Looking at all the other positives in SGNs production profile, cost improvements, and exploration campaigns that will further extend the life of mine….. then it seems like their best days are in front of us.

      • On February 15, 2017 at 6:39 pm,
        Matthew says:

        I’m not concerned either and still have a ton of shares. The move up was very strong and came with high volume while the correction has been a weak, low volume move. Today’s volume-weighted average price (VWAP) was .1052 and sellers have been reluctant for days (I’ve watched it closely).

        Despite the 31% decline from last months high, the daily RSI (14) reading is still about 40 and the 50 day moving average has finally been reached. This is consistent with bull market behavior.

        I doubt that .095 will be reached, but if it is, I don’t think it will be there for long.

        http://stockcharts.com/h-sc/ui?s=SGN.V&p=D&yr=1&mn=2&dy=0&id=p07793941304&a=453696495

        • On February 15, 2017 at 7:01 pm,
          Excelsior says:

          Thanks Matthew. I really appreciate getting your technical thoughts as always.

          On a percentage basis I still believe this stock could really grow in share price much faster than many small gold producers, and I see it as a hyper-leveraged play on gold.

          • On February 15, 2017 at 7:15 pm,
            Dan, calgary says:

            I have not sold any, just the value is down. I thought 12 would hold but 10 has got to be a solid number. I will buy more as its cycle has been thrown for a loop. My cost number is around 9.5 cents. Thanks Ex and M.

          • On February 15, 2017 at 7:44 pm,
            Matthew says:

            Ex, there will surely be ones that outperform it but Scorpio strikes a great balance. In other words, there aren’t many that I would feel as comfortable with holding such a large position.

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