Sentiment in the precious metals
Today with Doc we take a look at the sentiment for the precious metals. The first day of PDAC had a good vibe with companies and investors continuing to believe that we have turned the corner. While this is a nice change we still need to be aware of the commercial net short position.
Click download link to listen on this device: Download Show
Mar 06 Special Report Jack Chan 321gold
Bill agrees: “GOLD in 2017: Tacking into a Strong FED Wind!” https://www.youtube.com/watch?v=SMab2GsmLe0. Interesting chart patterns explained.
“It’s A Declaration Of War”: South Africa’s President Calls For Confiscation Of White Land
fter South Africa’s embattled president Jacob Zuma pledged, in a surprising address to parliament one month ago, to break up white ownership of business and land to reduce inequality (in a State of the Nation address which was disrupted by a fistfight), it now appears that Zuma’s intentions to convert what was until recently Africa’s most prosperous economy into a new Zimbabwe were all too real, and as the Telegraph reports, the South African president officially called on parliament to change South Africa’s constitution to allow the expropriation of white owned land without compensation.
“Rhodesia” https://www.youtube.com/watch?v=qxDckkH3cvQ by a SAfrican Boer and former Rhodesian.
Markedtofuture,
I am doing a bit of study right now pertaining to South Africa. Serious problems have existed in that part of the world for a very long time.
This missive simply exemplifies the serious nature of what is going on over there.
Thanks for posting this. In the future it would probably be a more appropriate post for our KER Politics section.
try about 2000 years…………
Big Al,
History repeats… as they say. No politics section today. It does effect certain gold producers. Lets see how the politicians work their way out of this next dilemma…
Jarrett from within White House May Have Launched a Watergate Style Attack on Trump During Election
I have been hearing about the Obama Administration wiretapping and trying desperately to uncover links of Trump and Puttin without success for months.
Meanwhile, hackers are blackmailing Democrats to release other emails of their covert and illegal actions to overthrow Trump.
Should I sell my DRD Gold? I’m glad I sold my Kloof, Anglo Ashanti, Driefontaine, Western Deep, and my Hartbeestefontaine long ago, but still have Durban Roodepoort Deep.
That South Africa situation is getting ugly…..
Like the article mentioned, it seems insane that they didn’t learn anything from the train wreck of Zimbabwe when they did the same idiotic thing. This tanked their economy and caused a terrible bout of hyperinflation. What in the work makes them think this is right course of action?
Interesting article on Market Watch: http://www.marketwatch.com/story/trump-supporters-are-the-buyers-driving-the-stock-markets-record-run-2017-03-06
If we have reached somewhat of a top, who’s going to get the blame when their bet don’t work out?
That is an interesting article Silverdollar. I am not sure that if the equities markets fall flat on their collectie faces blame will be laid on the conservatives. But in our crazy modern day society who knows?
silver going to the MOON…….according to Clif at usawatchdog……..
JPM……is going to the moon with their hoard……..that is the only place they will be safe once the public figures out they have ripped everyone off………..
Interesting, Jerry
I was trying to shock IRISH……… 🙂
Suggest Mars is preferable OOTB.
of course its going to the moon Jerry, its always going to the moon.
And its always a great time to buy.
imo, that stuff should be kept in perspective, makes gold bugs look like they should be on the x files.
Gold is actually pretty simple, its sad all these sites just dont tell the truth about it, if they did imo alot more people would understand and decide to own it.
creating upward price pressure?
This constant pumping is entirely unnecessary, altho, maybe it is and without it gold would be half the price?
the goldbugs hurt thmselves most with this to the moon crap.
the bs keeps people away from it imo.
Entertainment value only……….people need to do their own DD…….
b:
If Gata didn’t exist and Bill Murphy had never been born, the price of gold would be $1227.90 as I write.
There is a lot of hot air about gold, nothing more. The dogs bark but the caravan moves on.
Two paws up!
Comey ……needs to look for a new job………Trump does not believe him on the wiretap.
Comey is not creditable any more, after the email debacle , who would believe the guy.
He certainly did engage in some interesting timing during the election didn’t he. Personally doesn’t bother me at all that he did as I think Mrs. Clinton’s e-mail situation was going to be disregarded.
I do have an emotional interest in this as my oldest daughter doesn’t seem to think that the e-mail issue was of any relevance to her character.
I think you are a little premature on the emails……. I think those are going to resurface and may still be in play
Levin: We need to get to the bottom of the wiretap claims
Mar. 06, 2017 – 7:07 – On ‘Hannity,’ the radio host takes on the allegations
http://video.foxnews.com/v/5350079670001/?playlist_id=930909813001#sp=show-clips
Markedtofuture: He’s talking to the majority population who haven’t shared in the bounty created by the immense resources that the Dutch/British stole and developed. Without compensation doesn’t mean squat unless you’re a white resident. It’s the same ‘populism’ that played out with trump and his make America great line. The disparity in wealth distribution breeds an attitude that ‘we don’t care what happens to the wealthy, as long as I get my share of the distribution to come. Of course, Rhodesia’s turmoil might be the result. The majority at the bottom will still be the majority and the pie will be smaller……….The politicians in the US of A ought to be watching because the same phenomenon could take hold in this nation in another deep recession, which I believe could be starring us in the face. JMO
You make a very good point Silverdollar. That was my first impression when I read the article.
Given gold and silver are getting wacked lately and people maybe looking elsewhere if they exited a few positions. A company I was just notified of last week in the Lithium space. V.QMC is one everyone should take a look at. Totally under the radar at the moment. The just acquired a hard rock Lithium mine in Manitoba. There is a historic resource at a high grade. Mining was never completed yet a shaft and first level were completed. Main highway goes through the project. The company is very low market cap and the company is just compiling historic data before starting promotion on the property. Unconfirmed rumours I have heard about the project. There is a line up to fund the project and historic mining permits are still applicable. Apparently, a fast track start up is easily doable. There are ultra high grade areas of the resource. Take a look. If anyone has already consider let me know what you think.
Thanks Peter R, I will take a look and also mention it to Cory and Doc.
Best
Just noticed that they announced a financing this morning as well.
Based on some additional research today. The PP is fully booked. Good luck getting into it. A few big players behind it. So thinly traded it is going to be a company people chase. The more I look into it the more interesting this company becomes.
Hey Doc:
Watch your balance if you go out today, the blood is quite slick in the streets of PPP. Sentiment couldn’t get worse………..or can it?
Silver, according to the technicals I’m watching, PPP will be under some pressure yet—I’ll wait a little before adding to my position but I will be adding.
Same, same. Thanks.
I did my starter position last week at 59 cents, now thinking of adding maybe at 51 cents. Tracking it closely……..while anything is possible, I find it difficult to believe it will not hold 50 cents
Sounds like a good strategy. I’ll likely average down into another tranche tomorrow.
As long as the strike continues, it will probably grind lower. I had a few more orders filled today. The best one was at .5361.
http://stockcharts.com/h-sc/ui?s=PPP&p=D&yr=0&mn=7&dy=13&id=p70930939728&a=507178767
This sucks.
spanky I went out and bought a miners when I saw that comment earlier today.
You mentioned when your sentiment drops it is the best contrarian indicator, so I took you up on the concept. 🙂
It was a pretty rough day though….. (PDAC Curse)
With the CoT’s in silver looking pretty bearish. The near term does not look good at all for silver miners. The fact that they have absolutely tanked with silver barely down is not a great sign. what happens when and if silver really corrects???
the silver miners look like they are headed for their 100 WMA’s, which will create a ton of panic–myself included.
Extreme push down on the precious metals stocks/Etf’s today. Just noticed IAG is down over 7% as of now. However the Silver ETF is only down .71%.
Platinum down $20………zulu time in S.Africa
MXSG down sharply….don’t see any news. Might add if it goes back below 10 cents….
Thanks for the heads up Chris on MXSG. I was checking the historical prices on this stock and on Feb 8 MXSG touched 9 cents.
The five day SMA chart has been above the 20 day so I’m going to watch it.
The only news I see so far today is “Mexus continues march to production with installation of chemical treatment equipment” from Globe NewsWire.
Mexus continues march to production with installation of chemical treatment equipment
March 06, 2017 (GLOBE NEWSWIRE) —
“Mexus Gold US (OTCQB:MXSG)announced that the company continues to move steadily towards first production. Regino Vargas of MarMar Holdings, Mexus’ JV partner, reported that as of March 5th the testing of the leaching circuit is complete with satisfactory results. ChemTreat Chemical Company is now on site and has delivered and installed the ML7640 chemical treatment equipment. This specialized equipment adds chemicals and maintains the leaching solution to the heap leach pad. The equipment will take several days to test and calibrate at which point the leaching process will begin. ”
https://ceo.ca/@nasdaq/mexus-continues-march-to-production-with-installation
This was good news release, but today was a liquidation day = profit taking.
Yep….. Looks like the PDAC curse is still around…..
Still metals prices will find their intermediate bottom soon enough, and right in time for Mexus to announce going into production with costs at $450 per ounce.
In addition, (MXSG) also has the second mine gearing up to go into production later in the year.
I’ve been watching MXSG and just a few minutes ago it was down 21% but now
down 6.52%.
It closed down -6.88% today so that was about par for the course.
GDXJ closed down -5.94% for example….
SGDJ closed down -5.93%
I got a good deal on some 100 gram silver bars today….seems like they’ve still got plenty of second hand bars. Reminds me of Mark Dice offering passers-by a choice between 10 oz Hershey bars or the equivalent weight in silver with the chocolate winning out every time.
Those videos with him offering the chocolate bar or the one ounce of silver blow my mind.
Added a little to a uranium stock today—looks like the current correction is just about washed out.
Sure hope so…..I’ve still got some profits but not as sweet as it was. Oh, the trials and tribulations and contortions we stock traders go through. Whew! -:)
From Richest to Rags, the latest from Steven J Kaplan. He remains bearish on stocks and bullish on miners.
Mining financier Silver Wheaton open to revamped Primero deal
http://www.reuters.com/article/mining-pdac-silver-wheaton-idUSL2N1GI01H
Thanks Matthew. I hadn’t seen that article yet, but had a feeling they’d get it worked out.
There are no details yet, but a new agreement just might help to end the strike by allowing Primero to lay off fewer workers. That’s just speculation, of course.
Whatever the deal might be, it will be better than the current agreement.
Silver Wheaton doesn’t want to see Primero fail
Sandstorm Gold doesn’t want to see Primero fail.
Sprott (who just gave them a “Lifesaver loan”) doesn’t want to see Primero fail.
The combined wisdom of all those companies will get it sorted out. On the BNN interview last week the new/old interim CEO said they are working with the strikers but it would take a few weeks to get everything ironed out.
Even though I’m underwater on this one, I’m not really concerned and plan on adding more tomorrow. I was going to add more today but I had bigger fish to fry.
“If there’s a way that we can change the agreement to improve the health of the asset, and we get compensated for fair value, then we’ll explore that,” Silver Wheaton CEO Randy Smallwood said in an interview at the Prospectors and Developers Association of Canada conference.”
“Bank of Montreal analyst Andrew Kaip said in a recent note that the San Dimas represented some 15 percent of his 2017 revenue forecast for Silver Wheaton.”
“Primero announced a cost-cutting program and strategic review to consider options such as asset sales after it said on Feb. 23 that its chief executive was stepping down.
“There’s no doubt that they’ve got some challenges in front of them, but we’re confident that if they sharpen their pencils, they can return to profitability,” Smallwood said.”
EU clears Hungary to build Russia-financed nuclear reactors
By RAF CASERT and PABLO GORONDI – Associated Press – Mon Mar 6, 11:25AM CST
BRUSSELS (AP) — The European Union has cleared Hungary to build two nuclear reactors with Russian help after Budapest made commitments to safeguard competition in the energy sector.
Brent Cook and Joe Mazumdar discuss Tinka Resources
Brent Cook, economic geologist, co-author with Exploration Insights, and Joe Mazumdar, co-editor with Exploration Insights discuss Tinka Resources on BNN.
http://www.bnn.ca/video/brent-cook-and-joe-mazumdar-discuss-tinka-resources~1072137
Teranga CEO on growth, Gryphon, social goals
Carmen Gomez-Cotta in Toronto24 Feb 2017
“Exciting times” ahead for West Africa-focussed TSX gold miner Teranga Gold, CEO Richard Young said this week after the company recently posted record full-year production of 216,735oz at US$834/oz and boosted available cash to US$95.2 million. The president of the PDAC 2017 Environmental and Social Responsibility Award winner speaks with Mining Journal in Toronto on the eve of this year’s event.”
“Richard Young: We’ve strengthened our operating team at Sabodala, which led to the record results. More importantly, we’ve taking a number of steps to de-risk our Sabodala operations. First, we completed a mill optimisation in 2016, a quarter ahead of schedule and under budget. Second, we’ve implemented new grade control procedures within the mine. Every mining company has a reserve and the goal is to make sure that it can recover that reserve. The new procedures have allowed us to recover more gold than in our reserve model at better grade, which helped produce the better results. And third, we’ve built a high-grade stockpile that allows us to smooth out our quarterly production profile, as well as to ensure that we can meet our guidance if we have an operating issue of any sort. On top of these steps, we’ve been focusing on creating a culture of continuous improvement in the last few years. That has allowed us to be more productive, which is showing through record low unit costs.”
http://www.mining-journal.com/world/north-america/teranga-ceo-on-growth-gryphon-social-goals/
Brent Cook on Uranium,
“It´s sort of a dead market to us”
Joe Mazumdar,”We are not playing anything in Uranium right now”
http://www.bnn.ca/video/brent-cook-and-joe-mazumdar-discuss-fission-uranium~1072102
The world is falling apart (apparently) and gold is down. $1140 beckons perhaps. Maybe they can get gold down well below $1200 in time for a likely 3+% US CPI inflation report on 15 March and the Dutch elections and the will she won’t she rate hike circus from Janet Yellen at the Fed.
https://www.youtube.com/watch?v=mGr2zOkHNt0
Epstein TA