Is this general melt up in everything sustainable?
Kicking off today with Rick Ackerman addressing the fact that money is flowing into market almost across the board. Rick shares some of his targets for gold and also states why he fully cashed out of a position in silver but not gold.
Click here to visit Rick’s site and check out his scoreboard feature.
Click download link to listen on this device: Download Show
NEW YORK (AP) — J.C. Penney is joining its department store rivals in pruning its store numbers in an era of online shopping.
Penney said Friday that it will close 130 to 140 stores as well as two distribution centers over the next several months as it tries to improve profitability. The company said that it would also initiate a voluntary early retirement program for about 6,000 eligible employees.
But don’t worry – Be happy.
bye bye to more jobs…..
CHERRY HILL, N.J. (AP) — The Latest on vote to permit natural gas pipeline in New Jersey’s federally protected Pinelands (all times local):
11:15 a.m.
New Jersey regulators have approved a measure allowing a natural gas pipeline to run through the federally protected Pinelands preserve.
The Pinelands Commission voted to permit the pipeline Friday. The issue has been one of the northeast region’s most hotly contested energy proposals.
The vote ends a classic jobs-versus-environment battle in the nation’s most densely populated state, although environmentalists are expected to try to appeal the decision.
South Jersey Gas proposes to run the pipe mostly under or alongside existing roads to the B.L. England power plant in Upper Township.
What do you Primero owners think of CEO Mast’s retiring next week to spend time with his family and bringing back Joe Conway as CEO? Can Joe save the day?
I don’t know. The company has good potential, but has been mishandled.
Why buy?
On the other hand. e.g.
http://seekingalpha.com/article/4049406-silver-standard-resources-inc-2016-q4-results-earnings-call-slides?source=quotemedia_readmore
(Not a recommendation)
Why buy? For potentially massive gains, that’s why.
Hi Matt,
I jumped on the bandwagon with this one too. Yeah, it has made new lows, but lots of divergences in there on the charts both daily and weekly. Long term hold.
Your forcast for a 10% pullback in miners llooks like it wants to come to fruition. This nice pop in gold hasnt moved gdx or gdxj.
Hello Doc Fan, I agree with Peter R….
On February 22, 2017 at 10:55 am,
Peter R. says:
The issues that PPP faces are all relatively simple to resolve as they are not technical in nature but socioeconomic and all parties will lose if they are not resolved. If PPP was having technical issues (dewatering, resource modeling, poor recover, etc.) I would pull the plug on this in a second.
The positives nobody is talking about, I would not be surprised to see the steaming agreements revised as well to help the financials, again it is in the streaming partners best interests to keep both mines operational and profitable. PPP has never had an issue raising money and both mines have major exploration upside. PPP has secondary assets that are marketable. Technically both operations are sound.
I bought more today, btw.
+1 Matthew.
The potential for massive gains in PPP as they turn around their ship is exactly why to buy. 😮
If turn around stories were obvious to investors, then there wouldn’t be the value perception arbitrage. Cheers !
But don’t worry, once the price double or triples from here, then investors will get interested. 🙂
Agreed! Bought some today and will look to add next week if price falls further. Matt take a look at the secret company I emailed you about. Looks like it’s ready to take off soon.
It smells like hard times are coming again. Semi detached homes going for almost 1 million in certain areas of toronto/etobicoke and Vaughn/
Anyone want to come out and give an estimate how much longer this bull market in housing can go.. I’m growing old waiting for That 50% correction.
SSRI -,no mention of Golden Arrow in slide presentation, concerning.
Not really. You think Golden Arrow would be hyping Silver Standard all over their website and marketing pieces, but they don’t even bring them up until page 15 & 16 on their Corporate Presentation (long after introducing the Chincillas Silver project that they are JV’d on).
https://goldenarrowresources.com/assets/docs/presentations/2017-02-22-CP.pdf
It may be a deliberate move by Silver Standard to downplay shining the spotlight on Golden Arrow, so they can acquire them down the road with a lower valuation.
Regardless, it is normal for a Major to leave off minority interests, NSR arrangements or other ties to the property so the focus stays on their portion of the project.
Ex, SSRI just posted a slide presentation with no mention of GARWF
After SSRI invested 11 million, again concerning
Ex, had a lengthy conversation with IR @ GARWF. HE WAS INVOLVED in the conference call with Silver Standard, and there was no remarks other than game forward with the Chinchilla merger, actually another $500,000 the last month invested in the property.IR Sean was actually pumped.( but that’s what They are suppose to do)Actually talked 15 minutes, someone apparently dumped 150000 shares early on causing the damage
Ex, I don’t know if SSRI has intent on the entire company, only Chinchilla & perhaps chinchilla South, a zinc rich/ silver separate entity from chinchilla, 1 km away
NSU: securing their $ reserves to fund TIMOK. I THINK A WISE DEVELOPMENT
Thanks for the feedback on your conversation with Sean in IR for Golden Arrow. Again, SSRI may be keeping their cards close to the vest, but the fact that they invested 11 million in it, are going forward with the Chinchilla merger and that they just spent $500,000 last month are all positives in my mind.
I wondered what caused the selloff in the morning, so that 150,000 share dump was the reason. Didn’t hurt my feelings and I added some more shares on the selloff that actually recovered in the afternoon and ended up a few pennies higher.
Golden Arrows is just one of my “Dirty Dozen” Silver mining stocks, but it is one that I feel pretty comfortable holding as a development play, and I still believe if Silver Standard doesn’t take them over, that it will at least infuse them with a large amount of cash to buyout their position in Chinchilla. Regardless, when that happens the shares will be quite a bit higher, and if it happens when silver starts rising towards $20 then it will be a nice multiplier effect.
Thanks for all the feedback Marty. Very much appreciated.
Absolutely he can save the day! Joe is a winner and works for the shareholders. He has a good track record. He has been given a difficult hand but I’m sure that when everything settles primero will be a winner.
By the way doc what was that low ball number you mentioned few weeks back primero would get to?
Matt what is the lowest entry point you think this could go based on your charts and timing of cycles?
Thanks in advance
Glen, I think PPP is within pennies of a low. It is oversold, volume is falling, and there is some fork support nearby (blue):
http://stockcharts.com/h-sc/ui?s=PPP&p=D&yr=0&mn=9&dy=13&id=p58176922175&a=508452747
Considering the price action, the weekly volume hasn’t been very bearish (high) either:
http://stockcharts.com/h-sc/ui?s=PPP&p=W&yr=2&mn=0&dy=13&id=p97689336169&a=508987509
I agree! Matt what is the long time low for ppp or p.to currently away from my monitor which allows me to see 10+ year charts on the weekly/monthly. Dam these phones
Matthew, now that it’s below $.70, does it seek the next round number, $.60, I’ve got a buy in @ $.6055
Marty, I don’t think round numbers matter as much when prices are so low. At .60, one cent is more than 1.5%.
If fork support at .64 breaks on a closing basis, then I think the odds that your order will get filled will get much better.
http://stockcharts.com/h-sc/ui?s=PPP&p=D&yr=0&mn=7&dy=13&id=p70930939728&a=507178767
Matthew – I know these things can take time to play out, but personally I’m expecting that gap down we saw on the Daily to get filled on the next run up in Primero. That will mean a very nice pop higher from currently levels, and I concur that the downside here is more limited. As for risk, sure there is some risk, but I find stocks like this where we have a beaten down mid-tier producer bottom-dwellling and closed with a strike pretty appealing as all challenges that “could” happen to any company already happened. It is far more likely that they’ll sort out the strike, continue to optimize their production, and with such a large drilling campaign scheduled for 2017, then they’ll have some good news flow hitting later in the year.
My point it that $PPP is actually far less risky here than it is being perceived by the marketplace. In addition, a distressed producer in the midst of righting the ship is far less risky with far more upside, than many of the Gold/Silver explorers & producers already trading at overbought nosebleed levels. Stocks that have already run quite a bit since the end of last year can still keep running, but there are many that could easily pullback much more severely on any metals weakness as traders take profits. We’ll see how it goes….
I agree that the perceived risks are greater than the actual risks and am betting that when that gap down gets filled, it will keep on going.
The question right now is still, how low can it go?
CANNON BALL, N.D. (AP) — Oil could be flowing through the $3.8 billion Dakota Access pipeline in less than two weeks, according to court documents filed by the developer just before police and soldiers started clearing a protest camp in North Dakota where pipeline opponents had gathered for the better part of a year.
(GRG) (GARWF )Golden Arrow a 2017 TSX Venture 50 Award Winner
February 23, 2017
“This achievement is a testament to the dedication of our staff in Canada and Argentina, and the support of our shareholders,” stated Joseph Grosso, Executive Chairman, President and CEO. “2016 was another defining year for Golden Arrow. In particular, our flagship Chinchillas Silver Project has reached the mine planning and prefeasibility stage.”
https://goldenarrowresources.com/news/2017/golden-arrow-a-2017-tsx-venture-50tm-award-winner
Ex, no word from IR
I wasn’t reaching out to their IR dept personally, and haven’t tried. Were you reaching out to them? Did you call or email?
Ex, I did, left a message, still no response from GARWF
I see up above where you did finally connect with Sean. Thanks for being persistent and for the updates further up in this blog. You da man!
* The 2017 TSX Venture 50 is a ranking of top performers on TSX Venture Exchange over the last year. The ranking is comprised of 10 companies from each of the five industry sectors. Check out the Miners:
$GRG IPT $VIT $SIL $PGM $LIX $WML $GOLD $GPY $CDB
LISBON, Portugal (AP) — A senior European Union official says EU authorities are poised to release Portugal from tight fiscal oversight and the threat of sanctions because the country’s financial health has improved.
EU Commission Vice President Valdis Dombrovskis says that if statistics next month show Portugal’s budget deficit has continued to fall and that its economy has kept growing, the EU’s special surveillance of Portugal will end.
NSU bought 1500 @ $2.32
Yes, NSU reduced the dividend 94%, but they make money and Timok is a superior property in development. I bought down 21%, RSI below 20.
Matthew, the divergence?
We have entered a period that dramatically favors gold over bonds but the directional correlation will probably remain intact. The 30 year and gold are getting ready to rise for months – of course, there will always be short term declines along the way.
Gold weekly:
http://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=6&mn=0&dy=13&id=p74932078349
Thanks, nice work!
USB priced in gold (in real terms, bonds are going much lower):
http://stockcharts.com/h-sc/ui?s=%24USB%3A%24GOLD&p=W&yr=6&mn=0&dy=13&id=p64849044655&a=508949621
I think GDXJ will fall about 3.5% versus gold next week before bouncing:
http://stockcharts.com/h-sc/ui?s=GDXJ%3AGLD&p=D&yr=0&mn=6&dy=13&id=p56711260601&a=508976029
Well if gold makes a run at $1280 like Gary Wagner mentioned last week, then I can live with only a mild rise in the Gold miners, but then it will be time to trim in early March before the PDAC curse kicks in during the second week.
Note that 1280 is just 1.75% higher than the current price – half that of the decline I expect for GDXJ vs gold.
So, I think gold will go to 1280ish while the miners rise a little and then, when gold reverses and falls, the miners will fall more and that will give us the 3%+ decline in GDXJ:GLD.
That makes sense to me as a probable scenario.
Gold happens to have fork resistance at 1280 right now:
http://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=1&mn=2&dy=0&id=p29902932669&a=484925243
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https://youtu.be/tIC-1hUPNLE?t=34
Epstein Ta