Tanzania is a mess. We’ve been discussing the Acacia mining situation over at ceo….

https://ceo.ca/aca.l

This Miner’s $190 Billion Tax Bill Would Take Centuries to Pay
July 24, 2017 – Thomas Biesheuvel

“Tanzania sent Acacia Mining Plc a tax bill equal to almost two centuries worth of the gold producer’s revenue.”

“The government issued the company, which mines all of its gold in the African country, with a $40 billion tax bill and another $150 billion in interest and penalties, Acacia said in a statement Monday. The charge covers alleged under-declared export revenues from the Bulyanhulu and Buzwagi mines over periods between 2000 and 2017.”

“Acacia reiterated that it has fully declared all revenues. The stock sank as much as 17 percent on Tuesday to the lowest since December 2013. In just three days, the company has lost 42 percent of its value.”

https://www.bloomberg.com/news/articles/2017-07-24/acacia-gets-190-billion-tax-bill-it-would-take-centuries-to-pay

Good point Matthew, but feeling like “Linus until the end of time” sounds rough.

Something tells me that the cocky Wall Street traders that have only known one market direction for the last 8 years (UP) aren’t feeling like Linus. I do think there have been some deep psychological wounds from the severity and length of the PM bear market we just went through.

This harsh environment is probably why I have challenges with selling too early in my winners, because I’m so paranoid about locking in a profit while I have one. In an environment where everything is going up week after week like 2010 and 2011, it is much easier to let one’s winners run….

I stated that wrong. I just meant that relief never lasts for long so we can count on those Linus moments returning — bull market or not.

Fwiw, I will not be selling too early during the next run (and, thankfully, didn’t last year either). This bull market is not just real, it is the realest of the last several decades.

I am working on letting my winners run, but on parabolic moves up I generally jump ship.

Sorry, couldn’t help myself.

https://img1.etsystatic.com/000/0/5971052/il_570xN.262112493.jpg

Oh… I was picturing something else 😉

https://c1.staticflickr.com/3/2703/4327174479_7b73d35cb9.jpg

Haha! Good point GH. It was Charlie Brown that had the football yanked. I just went with Spanky’s analogy without thinking through my Peanuts mythology.

I was a big fan. But it’s just now that I realize what a genius he was:

http://2.bp.blogspot.com/_QjQyXoZjMDg/TC_CBiiSzlI/AAAAAAAAAds/8LJ8mE-iPns/s1600/lucy+football.jpg

http://photos1.blogger.com/blogger/3763/342/1600/humour_peanuts_womans_tears2.jpg

Yes, Women’s tears can be powerful weapons of deception at times….. So can children’s tears. I love it when they stop on a dime when they get what the want. 🙂

Pretty much any cannabis stock in canada is a good one.(recreational pot)

imo, if a person were to own only 1 stock, there is a good argument for “weed” and just as people run to the american $ for safety, people will move to “weed”.
A year or so ago I said the one to own was “phot” on the american market. That stock was life changing. All “madness of crowds” stuff.

If a person was actually looking at “fundamentals”, old school stuff, Aurora is the one to own.
just my opinion of course.

Thats the one I bought for 50 cents and sold for about $4(2 weeks?) right after making 2000+% on a gold stock, lol It was just an obvious undervalue at the time.

Pot profit is going to be all about sales, they are going to sell every last gram they grow(all of them) and aurora, is going to grow tons and tons and……..

Pot has been moving up again, not sure if its just following the gold price again or not, maybe they both have the same algo on them?

I’ve heard others discussing Aurora as more financially sound company, but so far haven’t ventured into to the pot stocks. I’ll take another look at it though, because it does get discussed quite a bit. Cannabis Growth Corp is the one that I heard the most chatter about though.

Correction: Canopy Growth Corp. I’ve heard it described as the “market leader”.

Aurora Cannabis Inc. Opens the Market
July 24, 2017 /CNW/

https://ceo.ca/@newswire/aurora-cannabis-inc-opens-the-market

One of my daughters suffers with epilepsy and high CBD cannabis in a liquid drop we make helps. The service from Aurora is excellent. Next day always even from 9 at night.

Thanks b and Ex. I like your posts along with many other’s. Always well thought out. posts.

EX, Canopy growth IS “weed”

Thats what people could move to in a “madness” event, but aurora is the one, if you are looking for fundamentals.

Just a matter of what you figure. Remember phot? what did it do? 50k%?
A madness event might not be a bad gamble.

Thanks Dan, C. Yes, I take CBD tincture on a regular basis (anti-inflamatory, anti cancer, anti fungal, and a range of health benefits.)

B – I’d be more interested in sound fundamentals over a panic stock so Aurora sounds more like my cup of tea then.

GTT was up 134% today!!

It was the most talked about stock on ceo today and there was hardly a peep about it over here at the KER. It’s encouraging to see nice pops like this and looking forward to more like it in the Junior Mining sector moving into the results from drilling season.

https://ceo.ca/gtt

Their JV partner Artemis is starting to get some legs as well.

Actually, “smart” mighta been lumber.

I’ve heard folks discussing lumber, but don’t know much about it really. It’s a little harder to get my head around, but getting some exposure through Ag funds or ETFs would be more appropriate for me. That’s generally how I handle the Soft Commodities.

After selling all my Apple shares over 30 years ago I am afraid to sell Novo now.

Like I said….. “If people are buy and hold investors, they’ll probably do well just hanging tight for the longer term.”

My biggest weakness as a trader is that I often sell too soon to lock in profits, and leave food on the table. However, I’d add that I don’t hesitate buying back in if there is a meaningful pullback, and many do struggle on that side of the spectrum.

You’ll probably make a fortune holding onto Novo, and I do plan on buying back in at one point, but I struggle to hold after large parabolic moves up. If the trenching assays come back solid, then the pricing would be more justified.

With a weekly RSI of 85, the odds are good that you’ll be able to buy it back at a much lower price.

Selling all of it is risky since it could squirt even higher and only pull back to near the current level.

Wheat pennies …safe bet….

OOTB 🙂 I used to have a great wheat pennies collection with the 1909, Zinc pennies from 43, and had a number of older flying eagles pennies as well.

I sold them all in 2008, at the same show I sold all my Morgan dollars. That’s the event the triggered my interest in Silver bullion afterwards when I had sellers remorse. (haha!)

You should have kept your good Morgan’s…some of my “CC”s Have gone to the moon…. 🙂

I am going to invest in a pot farm next,….that way I will have pot to p###

I realized that too late…… I was overextended in a marketing business, closed down an office, and near bankruptcy, so I was selling everything that wasn’t nailed down at the time. Luckily that is where my life did a U-turn, and after the fact I was sad to have sold the Morgan dollars. There were a few high value ones in the mix, but most just got sold for spot silver prices. We live and we learn my friend.

Near bankruptcy ,is a good life lessons.Even Lincoln went BR Three times…..

Wonder why they put Lincoln on the penny

It’s interesting what adversity can do to the learning curve. I had to sell a bunch of Mutual Funds and individual stock in 2007 prior to that, and is what got me interested in being less passive and more active as a trader.

Sometimes is the big pains that wake us up to big gains.

I’ve met a few different people that have been wiped out, and bounced back stronger for it. Some of them went bankrupt 2-3 times, but knew the route back up and were motivated to get back what had been lost.

It’s a very humbling experience to have nice things, and have to sell them all, to lose a business, or to lose a relationship that really mattered. The “Dark Night of the Soul” causes one to spend the sleepless nights looking for an escape hatch, and that is where innovation is often born if one is properly motivated.

You should look into Large Cents if you decide to collect again..jmo

I’d be more concerned if Lincoln was on the hundred than the penny. Maybe because he rose from pennies to greatness it is more fitting. 🙂

OOTB – you mean like these?

http://www.coinfacts.com/large_cents/large_cents.html

Penny wise,pound foolish…

Yes,…some are very rare….and there are some great buys…

Thanks for the “Heads” up….

Thanks for the “tails”

As Powers grabs her Lynch pin, they decide to have Rice for dinner.

Possibly another reason for copper moving higher
http://www.kitco.com/news/2017-07-26/METALS-Copper-hits-two-year-high-on-news-of-Chinese-ban-on-scrap-imports.html

Thanks Wolfster. I saw these comments from a CEO of another mining company reporting on the copper scrap ban:

@MartinTurenne – “some colour from Morgan Stanley on the potential Chinese #copper scrap import ban “The ban threatens a key source of swing supply for the copper market – affecting 300ktpa copper (1.3% global market)…. Multiple factors will help to mitigate the impact of import restrictions, including improved domestic collection/recycling rates; offshore processing of scrap for subsequent import into China; increased scrap availability/use ex-China; and stockpiling of copper scrap in China ahead of the ban’s implementation. The price impact is likely to be short-lived then. But the potential for further restrictions on China’s recycling sector may have broader, long-term bullish implications for metals demand.”

I use to ask my neighbors how did billyhilly aquire three multiple million dollar house while claiming they were bankrupt after leaving office.and have a $150million trust fund.

The SHEEple were asleep then and most still are,… ..And the more Trump tweets…the More I love it…

Tweety Trump

https://i.imgflip.com/1hfuc4.jpg

with “Putin Tat Trouble”

http://www.b99.tv/wp-content/uploads/2015/01/Looney-Tunes-Putty-Tat-Trouble-1.jpg

😉 😉

For exploration upside, IPT beats them all. 😉

I love IPT’s exploration upside, but come on ….. 2,965 g/t Silver and and 3,574 g/t silver are nice hits for $EXN or any company. Those are great results any way you slice it.

It’s OK to have a few horses in the stable. 😉

Yes, those are great grades. IPT has returned similar results been it’s been awhile. In fact, this will be the first year in several that we get some interesting drilling done.

Here’s an old hit from an old PR: “Previous limited drilling by IMPACT on the Oscar Vein returned values of 2,820 g/t silver, 1.83 g/t gold, 3.48% lead, and 7.83% zinc…”

IPT has massive potential on a huge property that has never seen modern exploration techniques and is also vastly cheaper and much less followed than EXN.

Typo: should be “BUT it’s been awhile…”

I like em’ both and own them both. EXN still was up around 700-800% off it’s lows last year, so it is no slouch. 😮

Glad to share the good news. EXN is a great little Silver Producer and they are doing a hell of job with exploration as well.

I’m very excited for the next 12 months with them as they are finally done with the dewatering initiatives from the last 2 years and getting down to access the higher grade portions of the mine. For the last few quarters they’ve just been processing lower grade old dumps and piles at surface and the market place is pricing them like that is what they will be mining moving forward. Nothing could be further from reality.

__________________________________________________________________________
In the Corporate Presentation below for $EXN they mentioned pre-optimization AISC of $19 and post-optimization AISC of $9. (See pg 10)

Check out pages 8 – 15 on their #CorporatePresentation for the reserves and how significant the ~DeWatering iniative was for $EXN $EXLLF

http://www.excellonresources.com/_resources/presentation/corporate-presentation.pdf

The news about Brazil hit the wires last night and traders had been discussing it. I agree with you that they have a socialist mindset where they want to take more money from miners in the form of royalties. That is the main cause for the sell down in JAG today. They’ve had options expiration many months and never saw a drop like todays.

Here’s the culprit reported from another trader using level 2 quotes:

@Playa_2012 – “Canaccord appears to be liquidating JAG. Hard to tell how much more they have to let go if any.”

@jamjam – “24.5 million bid in for jag”
@jamjam – ” and dumped”
@jamjam – “10 mil volume are canacord only seller”
@Rumi – “.245 bottom for $JAG? bids also keep building”
@jamjam – “if someone dump up to 23 means they are cross trading $JAG”

Great info..thanks

@Playa_2012 – “Holy crap the 3 million 23 cent bid got sold into on JAG. ” 4 minutes ago
@jamjam – “i am pretty sure this are cross trade” 3 minutes ago
@Playa_2012 – “I agree.” 3 minutes ago
@jamjam – “we just have to sit ans watch until they are done” 3 minutes ago
@Playa_2012 – “Question is how low before a possible bounce?”

Markets don’t like the uncertainty that comes with new government actions but I’m not worried about the changes. For starters, this is positive: “The new rules will increase the limit on the stake that foreign companies can have in mining ventures in Brazil, currently set at 40 percent.”

Fwiw, I increased my position by about 50% today (so far) at an average price of .2581111 Canadian.

I’ve been buying JAG over the last hour or so as well. This is ridiculous and someone checked with Investor Relations and they mentioned it was just a large holder wanting to get out (likely due to the government changes).

Not a very graceful exit on their part, but I’m taking full advantage of it.

That’s how dumb-money funds tend to exit and I thank them for it!

I believe it was DuPont. People at ceo.ca have talked to IR and verified it was not Sprott.

Here’s who the list of the top 10 holders of JAG were before today, and IR said around 23 Million shares were being unloaded as one of them wanted out. Looks most likely that it could have been Dupont, but the selling is mostly over now.

I’ve sold a few other stocks just to buy more JAG today.

It’s still on sale for 15 more minutes 🙂

http://cdn.ceo.ca/1cnhp7s-Capture.JPG

It wasn’t that big of a drop, but yeah I agree. My point was that the rest of the news release on their cash costs improving and better cash balances were positive overall.

The chopping down of JAG by 1/3 today wasn’t warranted by just a 5,000 ounce drop in production guidance. Anyone following their story already knew the first 1/2 of the year was a bit tougher for them.

Todays selloff was due to 1 large seller liquidating. I believe it was DuPont based on the info posted above — (see the link), and other investors discussions with Investor Relations today.

I definitely do not attribute today’s action to the lower production guidance. The entirety of my point was simply that the press release did have something negative in it.

Got ya. Well, I agree the drop in production was negative, but counterbalanced and explained in the rest of the release. Let’s call it a mixed bag. 🙂

With the improving costs and rising metals prices, I’m still quite constructive on JAG for the 2nd half of this year, and really would like have seen them get the news release out a little earlier today and we’d have seen a nice bounce back.

___________________________________________________

Jaguar Mining Confirms No Material Change
by @newswire on July 26, 2017

https://ceo.ca/@newswire/jaguar-mining-confirms-no-material-change

A debt jubilee is never going to happen.
Even if it could.
All debts get paid one way or another.

Maybe a currency collapse would be a modern debt jubilee.

Never say never…

A true debt….May get paid, but what we have is fraudulent transaction…

Just thinking.