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Looking ahead to tomorrow’s job number for gold and the USD

Cory
August 3, 2017

Craig Hemke, Editor of TFMetalsReport.com joins to look ahead to the job numbers being released tomorrow. We assess the potential impact on the metals and the US dollar. With the dollar threatening to close the week at the lowest level since 2014 tomorrow could be a very important day.

Click here to visit Craig’s website for more PM focused commentary.

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Discussion
30 Comments
    CFS
    Aug 03, 2017 03:54 PM

    Beware Obama 2.0

    https://youtu.be/8K3tpJ-usP8

    CFS
    Aug 03, 2017 03:57 PM

    From the scum of the left coast:

    https://www.youtube.com/watch?v=zcw-kgLMsEY

    Aug 03, 2017 03:04 PM

    Here’s great write up on Excelsior..nice price targets too
    http://www.mjgcapital.com/wp-content/uploads/2017/08/July-2017.pdf
    Excelsior starts on page 21

      Aug 03, 2017 03:09 PM

      I also spoke with IR recently….looking at mid august possibly getting first permit and not too long after that getting the other permit. Once the permits are in place it won’t be long before the debt/financing is announced…might be 100% debt. Any financing will see Greenstone take down 50% Still on schedule for q2 production

    Aug 03, 2017 03:39 PM

    The USD is testing triple support levels after the (overdone?) mini-waterfall decline.

    https://www.kimblechartingsolutions.com/wp-content/uploads/2017/08/us-dollar-testing-triple-support-after-rare-decline-aug-3.jpg

    Aug 03, 2017 03:09 PM

    August 1st Bitcoin did a “Hard Fork.”
    Those with Bitcoin now have equal amounts of Bitcoin cash. Yahoo !!!
    Bitcoin $2756.68
    Bitcoin Cash $376.06

    Aug 04, 2017 04:29 AM

    Payroll fork in the road…….part time vs full time………

      Aug 04, 2017 04:58 AM

      Part time , part time, and part time……parting words……

    Aug 04, 2017 04:34 AM

    Silver stinks again…….

    Aug 04, 2017 04:36 AM

    Platinum looking good…….$966

    Aug 04, 2017 04:46 AM

    How’d that jobs report today and the effect on the USDX work out for you today Turd?
    Are you working feverishly on a post right now to whiteout the reality that todays price action brought?

    http://www.silverdoctors.com/silver/silver-news/i-can-vouch-for-andrew-maguire-significant-influx-of-physical-gold-orders-imminent/editcomment/243089/

    Maybe you should consult Eric Sprott or Andrew Maguire and see how they want you to reframe and buttress their narrative for them again.

    Vouch? Lol!
    Apologist shill.

    Aug 04, 2017 04:07 AM

    The Chart of the Day (US DOLLAR)

    by @Goldfinger on August 4, 2017

    https://ceo.ca/@goldfinger/the-chart-of-the-day

      Aug 04, 2017 04:19 AM

      Hi Shad:
      The other day you mentioned Maya Gold ,MYA.V. Yesterday they released drill results that were such that the stock sold off. Not the results that everyone expected I assume.
      A while back there was a discussion about Maya, and if my memory serves me right you had some reservations. I went back and looked for the post but couldn’t find it.

        Aug 04, 2017 04:17 AM

        Yes, the issue I had was not with their resource, because I’ve actually been very impressed by their drilling results and production improvements. The issue I had was with the high Mercury content of their ore and leftover cyanide contaminated ore and waste from previous miners that they were advised from a 3rd party consultant to clean up, but instead they just threw a membrane over it (which could leak out into the water supply). It just didn’t seem right to try to profit if the company had neglected to safeguard potential harm to others. For clarity, I checked with the company via email twice and called and left a VM to see specifically if they had addressed these issues and never got a return response. That just rubbed me the wrong way.

        I don’t know if they have or have not addressed these concerns, but wish they’d do something about it and make an official public announcement. I’d love to love their stock.

          Aug 04, 2017 04:20 AM

          Here were the previous posts:

          On June 1, 2017 at 6:34 pm,
          Excelsior says:

          DT – Yes, it was a great intercept. I was a prior investor in $MYA and realized they had the potential to pull hole like this from Zgounder, but my concerns came from a different area.

          My conflict with staying an investor in Maya Gold and Silver came after a working geologist, Dan Kogaion, who I speak with from time to time and read his articles put out a lengthy piece about the potential environmental and human interest concerns on their property (that as far as I am aware remain unmitigated).

          Dan pointed out the concerns about the Mercury and Cyanide issues (from prior artisinal miners) and as an investor, I couldn’t stop thinking about it and they became a concern for me.

          The company was advised by a 3rd party consultant to clean it up and process all the old ore and water to get those toxins out, and apparently they just put a membrane over the polluted area and moved along with their operations. You can read his criticism below, but the main worry is that this could leach out into the water table and affect the local communities.

          Personally, I wrote to their IR department twice w/ excerpts of the article and with links, with questions, and specifically asked if they had done anything to mitigate those issues. Nobody ever responded. It rubbed me the wrong way and I exited my position. That has no impact on the quality of their drill holes or mining efficiency, but there are thousands of miners to invest in, and I don’t want to knowingly invest in a company that may end up cutting corners and hurting others.

          Mining is a risky business with all kinds of upheaval to the area and various harsh chemistry used, but there are processes in place to minimize damage. In this case, it is not the company that did this, but rather prior local miners. However, they are care-takers of that property now, and it is their responsibility to manage things ethically. I wouldn’t feel good making money on the company if the water leached out from under that membrane and carried those toxins down-stream and they hurt the villagers in that path.

          If they clean up that area (and maybe they’ve started to address it as others have been discussing it as well) then I’d be more enthusiastic about $MYA. That’s just my personal opinion and 2 cents on them.
          _______________________________________________________________

          Here is the @DanO piece on $MYA

          http://cdn.ceo.ca/1cff1os-MYA%20-%20Maya%20Gold%20-%20On%20Zgounder%20Mine%20-%20mining%20investment%20_%20ARCHIVE.pdf

            Aug 04, 2017 04:20 AM

            On June 1, 2017 at 6:36 pm,
            Excelsior says:

            Here’s a link to Dan’s site:

            http://www.miningandmoney.com/about

            Aug 04, 2017 04:21 AM

            re some specific passages that concerned me personally:

            “Recent miners used cyanide to recover silver from the ore but unheard of they did not use a cyanide destruction circuit therefore their tailings are laced with cyanide which seeps in the aquifer and gets into the creeks located below their location (creeks 1 km down of the tailings dam are high in cyanide)..

            The second environmental problem is represented by the way they process the ore because their mill did not catch the mercury which was therefore released in the air in an uncontrolled manner.

            The consultant company recommended that MYA reprocess all the historic tailings and recover some silver but at the same time destroy all the cyanide still existent in there. MYA decided to only cover the tailings with an impervious membrane and divert water runoff around them. While this is a step in the right direction it is definitely not good enough as one would have to drill some holes and test the aquifer below the tailings pond to figure out how much cyanide is still escaping and travelling down the slope. There are creeks (some temporary) that flow through the mine area and some villages down slope that rely on agriculture to make a living; and they are at high risk of getting poisoned by mercury and cyanide. It is not only an environmental disaster (that the MYA is supposed to have the money to fix) but also a money problem and a social license problem which could also affect an investor’s return if the shit hits the fan. The consultant co also recommended that they recover the mercury (fumes) resulting from processing of the ore. And a cyanide destruction circuit is to be built and incorporated in the mill flowsheet. All these only add to the bill faced by MYA.

            The mine itself is old and so many parts of it were mined out that getting back and mining the ore that is still in place (i.e. around those old mining works) presents a significant risk from a mining point of view. It also could mean that their scheduled production (2­300 tpd) cannot be achieved if old uncharted mining works are going to be encountered by their development work. Which is very likely.
            The consultant co aware of this problem engaged a local co to do some laser scanning of the old mining works to try to map them. For certain
            reasons they weren’t 100% successful therefore the risk is still present. And some of this incertitude is therefore incorporated in the resource estimate. Consultants strongly recommended the mapping of all (still uncharted) historic mining areas.
            The mine does not have neither geotechnical nor hydrogeological problems. But there is water below the main 2000m adit (flooded) and to mine or search for extensions to the mineralization down there one would have to dewater it first. At this moment it is unknown if the underground water carries a heavy load of mercury, arsenic etc which would prevent it from being discharged (untreated) in the local creeks. Possible permitting roadblock. The consultants recommended that they start by mining above the 2000 m level. But a decline is to be constructed to reach the lower part of the mine which is flooded. MYA didn’t say anything about the decline yet….”

            http://cdn.ceo.ca.s3-us-west-2.amazonaws.com/1cff1os-MYA%20-%20Maya%20Gold%20-%20On%20Zgounder%20Mine%20-%20mining%20investment%20_%20ARCHIVE.pdf

            Aug 04, 2017 04:24 AM

            P.S. – I recently asked Dan if he’d heard any updates on cleaning up the old mess, and he hadn’t heard anything, but feels they may be addressing the concerns on new rock they are mining.

            I don’t have any clarity as to whether these issues have been mitigated at this point, but it would be great if the company threw a little money into cleanup of the area, mitigated the mercury and cyanide, and address the market so everyone could feel confident in their stewardship of the area.

            I’m always rooting for people and companies to do the right thing.

          Aug 04, 2017 04:04 AM

          Shad :
          Thanks for the info.
          Mercury and Cyanide not good.
          Your the best.

            Aug 04, 2017 04:21 AM

            Hopefully it gets addressed in a positive way. Again, I really want to be able to root for their company and it has taken off without me (which as a previous shareholder at a much lower level) pains me to see. Still, I like to sleep at night. 🙂

    Aug 04, 2017 04:43 AM

    Silver Stocks are taking a whomping today overall:

    First Majestic Silver Corp (AG)

    $6.5053 sown -$1.1847 (-15.41% loss)

    ouch!

      Aug 04, 2017 04:44 AM

      sown = down

        Aug 04, 2017 04:53 AM

        Silver stocks outperform to the upside and the downside. Today is a good reminder:

        Stock Symbol / Silver Mining Company Name / % Chg

        $RYO Rio Silver Inc. -23.08%
        $SDRG Silver Dragon Resources Inc. -21.88%
        $AG First Majestic Silver Corp. -15.14%
        $SCZ Santacruz Silver Mining Ltd. -7.14%
        $AZS Arizona Silver Exploration Inc. -6.98%
        $EDR Endeavour Silver Corp. -5.57%
        $IPT IMPACT Silver Corp. -5.56%
        $HOC.L Hochschild Mining PLC -4.62%
        $SIL SilverCrest Metals Inc. -4.26%
        $BCM.V Bear Creek Mining Corporation -3.96%
        $AXU Alexco Resource Corp. -3.70%
        $BTT.V Bitterroot Resources Ltd. -3.57%
        $SVE Silver One Resources Inc. -3.53%
        $FRES.L Fresnillo PLC -3.45%
        $PAAS Pan American Silver Corp. -3.18%
        $USAS Americas Silver Corporation -2.94%
        $TAHO Tahoe Resources Inc. -2.82%
        $SSV Southern Silver Exploration Corp. -2.63%
        $HL Hecla Mining Company -2.16%
        $AUN Aurcana Corporation -1.89%
        $GGD GoGold Resources Inc. -1.75%
        $DEF Defiance Silver Corp. -1.61%
        $BBB Brixton Metals Corporation -1.43%

          Aug 04, 2017 04:16 AM

          Now for the hidden positive about today’s action. SLV is down 2% while SIL is down 3%. That 1.5x leverage is much lower than usual so this selloff might just be a healthy pullback from resistance that was hit last week.

          http://stockcharts.com/h-sc/ui?s=SLV&p=D&yr=0&mn=9&dy=9&id=p80737535600&a=511613782

            Aug 04, 2017 04:16 PM

            There is nothing bullish about this chart whatsoever.

            http://stockcharts.com/h-sc/ui?s=SIL%3ASLV&p=D&b=5&g=0&id=p13183108097&a=538027523&listNum=1

            The fact that it has been consolidating sideways so long bodes extremely ill for silver miners.

            Aug 04, 2017 04:51 PM

            Thanks Matthew. Well I hope you are correct and this is just a healthy pullback. I’ve aligned my speculation in the same manner, and believe the dollar rally is more of a dead-cat bounce, and will be short-lived.

            A little more weakness in the miners is to be expected in the immediate future, but I’m still very constructive on later in August, September, and October for a rally that catches most bears and bulls by surprise and am positioning accordingly.

    Aug 04, 2017 04:42 AM

    Bought some sbb today at 2.12 cad. A ver nice junior. Down as much as 2.08 cad but it was a spike down and tough to catch. Maybe it will test todays lows again .

      Aug 04, 2017 04:12 AM

      nice work Blue. I’ve been a fan of Sabina for a while and have owned them off and on but don’t hold a position at present. They are a very likely takeover target though, now they they got their permitting issue worked out after 2 years of slogging it out.

      Cheers!

        Aug 04, 2017 04:28 AM

        Cheers!

          Aug 04, 2017 04:53 PM

          Blue you always have interesting companies that you are following, and a number we overlap on. Is there any other companies that you really like at present in the Gold or Silver or Zinc or Copper space?