Richard Postma - The Doctor Is In – Thu 16 Mar, 2017

PM stocks are not sharing in the move up today

Al joins Doc and I today to discuss the follow through that we are seeing from gold after the Fed meeting. An interesting discrepancy is that the gold stocks are struggling today. This could be a sign of upcoming weakness or simply just a day when gold stock investors are busy hoping their March Madness brackets don’t get busted on day one.

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Featuring:
Al KorelinCory FleckRichard Postma
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Comments:
  1. On March 16, 2017 at 11:14 am,
    SilverbugDave says:

    In my view gold is trying very hard to break back above the key (1224 level (originally the high from way back in late 2009). This has proven to be a magic number so many times. It was resistance yesterday on the upmove and basically almost stopped the move but gold poked its head into the 1230s today and is now at 1226/1227. So the jury is out. It’s interesting that yesterday (Wed 15 March 2017) gold went up about $20 and was stopped in the low 1220s.

  2. On March 16, 2017 at 11:15 am,
    SilverbugDave says:

    Remember it is also the time of the “PDAC conference” curse, not usually a good month for gold and silver.

  3. On March 16, 2017 at 11:20 am,
    SilverbugDave says:

    The gov’t was lucky that inflation CPI-U came in at only 2.7%. I was expecting just over 3%. Back to the drawing board with my inflation modelling? I don’t think so really but I am going to work on my models and include Feb’s inflation. I do notice that inflation is over 3% on many countries in the world. Perhaps it is the strong US dollar that has kept it down but the dollar index has been 100 for 2 years now so it shouldn’t affect year over year figures in my view.
    https://www.youtube.com/watch?v=F30FOs42J34
    My geometric model gave 3.06 for CPI forecast for yesterday. Direction right, magnitude a bit high but it will be interesting to see if the oil and overall energy price rises filter through in the next couple of months of whether I overestimated them.

  4. On March 16, 2017 at 12:09 pm,
    Wolfster says:
    • On March 16, 2017 at 8:56 pm,
      Excelsior says:

      Thanks Wolfster.

  5. On March 16, 2017 at 12:22 pm,
    Paul L says:

    S&P is about to go to new highs soon. Just taking a break today.

  6. On March 16, 2017 at 3:56 pm,
    Jay says:

    Hi Doc

    You mentioned several explorers are still cheap.

    IMO Alexandria Minerals is among them…but there’s almost not chatter on them here or on most sites (they’ve had several press releases in the last few months though).

    IMO they appear to be a potentially huge sleeper (2 million+ Au ounces, high grade, continually getting good drill results, some top quality investors, some interesting deals done (e.g. with Probe Metals), etc.

    Do you (or anyone else here) have any insights on them?

  7. On March 16, 2017 at 4:14 pm,
    jf lan says:

    Nice !

  8. On March 16, 2017 at 9:04 pm,
    Excelsior says:

    Silver Seen Climbing Faster Than Gold as Yellen Wakens Bulls
    March 16, 2017 – by Ranjeetha Pakiam

    “Investors may be better off with silver rather than gold. The Federal Reserve’s pledge to stick to its dovish outlook on U.S. monetary policy has fueled a rally in precious metals and silver usually beats its more valuable peer in a rising market.”

    ““Silver is substantially undervalued compared to gold and has plenty of space to appreciate both in dollar terms and relative to gold,” Gregor Gregersen, founder of Singapore-based Silver Bullion Pte, said in a email. “Currently the move into silver is a trickle, but it might very well become a flood once the mood of the market at large shifts.”

    https://www.bloomberg.com/news/articles/2017-03-16/silver-seen-advancing-faster-than-gold-as-yellen-awakens-bulls

  9. On March 16, 2017 at 9:11 pm,
    Excelsior says:

    PDAC 2017: Sprott’s Rick Rule likes prospect generators
    SALMA TARIKH MARCH 16, 2017

    “Rule’s top names include prospector-turned-royalty generator Eurasian Minerals (TSXV: EMX; NYSE-MKT: EMX) and prospect generator Riverside Resources (TSXV: RRI). Sprott Global Resource Investments currently holds 13.5% of Riverside and 8.9% of Eurasian.”

    “Simply put, prospect generators focus on adding value through exploration before attracting a buyer or partner to further advance the project.”

    “We see a dearth of exploration taking place, and arithmetically our experience has been the most efficient form of exploration finance is in prospect generators, where our money provides working capital for the assemblage of intellectual capital, where the risk is farmed out to others,” Rule says.

    Asked what he liked about Eurasian’s properties or the company, which expanded its prospect generation business model to include royalties, Rule responded he does not “fall in love with properties.”

    http://www.northernminer.com/news/pdac-2017-sprotts-rick-rule-likes-prospect-generators/1003784548/

  10. On March 17, 2017 at 2:55 am,
    Excelsior says:

    West Kirkland Mining Reports New Gold Intercepts at Three Hills and Hill of Gold at the Hasbrouck Gold Project, Nevada
    (Marketwired – March 16, 2017) – West Kirkland Mining Inc. (WKM) (WKLDF)

    ABOUT THE HASBROUCK GOLD PROJECT

    “Hasbrouck Gold Project consists of two all-oxide gold-silver deposits eight kilometers apart. Both deposits will be mined in open pits having low stripping ratios and minimal pre-stripping should the project proceed to production.”

    “West Kirkland’s independent consultants, Mine Development Associates, produced an updated Pre-feasibility Study in September 2016 which is available on SEDAR and at http://www.wkmining.com. All necessary permits to construct and operate the Three Hills Mine are in hand, and work to obtain permits for the Hasbrouck Mine is ongoing, with submission of a Plan of Operation to the Bureau of Land Management (BLM) targeted for Q4, 2017.”

    https://www.juniorminingnetwork.com/junior-miner-news/press-releases/366-tsx-venture/wkm/30353-west-kirkland-mining-reports-new-gold-intercepts-at-three-hills-and-hill-of-gold-at-the-hasbrouck-gold-project-nevada.html

  11. On March 17, 2017 at 2:57 am,
    Excelsior says:

    West Kirkland Mining Reports New Gold Intercepts at Three Hills and Hill of Gold at the Hasbrouck Gold Project, Nevada
    (Marketwired – March 16, 2017) – West Kirkland Mining Inc. (WKM) (WKLDF)
    ABOUT THE HASBROUCK GOLD PROJECT

    “Hasbrouck Gold Project consists of two all-oxide gold-silver deposits eight kilometers apart. Both deposits will be mined in open pits having low stripping ratios and minimal pre-stripping should the project proceed to production.”

    “West Kirkland’s independent consultants, Mine Development Associates, produced an updated Pre-feasibility Study in September 2016 which is available on SEDAR.”

    “All necessary permits to construct and operate the Three Hills Mine are in hand, and work to obtain permits for the Hasbrouck Mine is ongoing, with submission of a Plan of Operation to the Bureau of Land Management (BLM) targeted for Q4, 2017.”

    https://www.juniorminingnetwork.com/junior-miner-news/press-releases/366-tsx-venture/wkm/30353-west-kirkland-mining-reports-new-gold-intercepts-at-three-hills-and-hill-of-gold-at-the-hasbrouck-gold-project-nevada.html

  12. On March 17, 2017 at 3:26 am,
    Excelsior says:

    Bob Farrell’s – 10 Rules

    1. Markets tend to return to the mean over time.
    2. Excesses in one direction will lead to an opposite excess in the other direction.
    3. There are no new eras – excesses are never permanent.
    4. Exponential rapidly rising or falling markets usually go further than you think, but they do not correct by going sideways.
    5. The public buys the most at the top and the least at the bottom.
    6. Fear and greed are stronger than long-term resolve.
    7. Markets are strongest when they are broad and weakest when they narrow to a handful of blue-chip names.
    8. Bear markets have three stages – sharp down, reflexive rebound and a drawn-out fundamental downtrend.
    9. When all the experts and forecasts agree – something else is going to happen.
    10. Bull markets are more fun than bear markets.

    http://www.stockcharts.com/school/doku.php?id=chart_school:trading_strategies:bob_farrell_10_rules

    • On March 17, 2017 at 7:36 am,
      Bonzo Barzini says:

      What about rule 11 :Get out! and 12 : Stay out! ???