Chris Temple from The National Investor – Tue 15 Aug, 2017

Oh how quickly the fear trade can reverse

Tensions between North Korea and the US have tempered and we are seeing the safe havens pull back. Chris Temple and I discuss the impact on the precious metals and some recent comments by NY Fed President Bill Dudley. Dudley further confirmed that the Fed has not changed course and continues to be most closely focused on the financial markets.

Click here to visit Chris’s website.ย 

Click download link to listen on this device: Download Show


Featuring:
Chris TempleCory Fleck
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Comments:
  1. On August 15, 2017 at 9:01 am,
    Excelsior says:

    First of all…… CONGRATS to all the Novo Shareholders…. Wowzers!!

    NVO.V

    $5.20 $0.62 (13.5% gain)

    Check out this Freaking Chart:

    http://stockcharts.com/h-sc/ui?s=NVO.V&p=D&b=5&g=0&id=p47029278273

    • On August 15, 2017 at 9:02 am,
      Excelsior says:

      I haven’t seen a run like this in a while….. Fantastic action in Novo.

      • On August 15, 2017 at 9:12 am,
        OOTB Jerry says:

        except in bitcoin… cryptos………. ๐Ÿ™‚ all kidding aside that is impressive move…..

        • On August 15, 2017 at 9:26 am,
          Excelsior says:

          It’s a mind-blowing move in Novo Resources.

          I’ve continued my trend of blowing my winning shares out way to early.

          On further consideration, I may start a newsletter where I recommend investors positioning in all the stocks I sell. They usually go up between 50-500% after I sell out of them. ๐Ÿ™ ๐Ÿ™‚ ๐Ÿ˜‰

          • On August 15, 2017 at 9:32 am,
            JohnK says:

            Shad:
            Rule#1. Nobody ever went broke taking a profit.

          • On August 15, 2017 at 9:39 am,
            Wolfster says:

            Start selling some of your MIN. ๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚

          • On August 15, 2017 at 9:43 am,
            Chartster says:

            That’s funny, Excelsior.
            The novo chart is a great object lesson of what will happen when the whole sector gets a really nice bid. Researching those technicals (without paying much attention to the RSI ) could payoff on future moves regarding other stocks. It’s real easy to get out ..way too early..

          • On August 15, 2017 at 10:13 am,
            Excelsior says:

            JohnK – True… profits are good, and the Novo proceeds allowed me to rotate into other names, but leaving that much on the table is painful to watch.

            Wolfster – Sold out of MIN — as we discussed on ceo today…. I’m buying CDB Cordoba, now instead …. while it is smashed down from the Friedland Financing Fiasco… Hahaha! [now MIN can soar!!!]

            Chartster – great points on taking a closer look at the technicals, although, this move is pure momentum on the narrative and it has become the “Story Stock” of 2017 because of their Exploration work and Discovery, the size of their land package, and the potential to really hit this one out of the park….

            There are also 5 different newsletters promoting it, and that helps on the visibility.

          • On August 15, 2017 at 10:35 am,
            JohnK says:

            Rule#2.
            You will never have a ten bagger taking profits.
            Who said this was easy?

          • On August 15, 2017 at 10:54 am,
            Excelsior says:

            Rule #3 – You can still take partial profits AND have a 10 bagger on your core position:

            http://www.doomsteaddiner.net/blog/wp-content/uploads/2012/03/wheelbarrow-of-money-520×340.png

          • On August 15, 2017 at 11:05 am,
            JohnK says:

            Good one Shad.
            I love letting the houses money ride,but at the same time I have been hammered by Macro corrections that have brought me close to joining these guys.
            https://www.google.com/search?q=panhandler&rlz=1C1GGRV_enUS755US755&tbm=isch&imgil=EZ7r3D0bvmN4OM%253A%253BRfKYogz19Fck8M%253Bhttps%25253A%25252F%25252Fonebaddecisionawayf

          • On August 15, 2017 at 11:20 am,
            Excelsior says:

            Agreed. It is a delicate debate between cashing out, only taking partial profits and letting the houses money (really it’s your money) ride, and leaving it all in for the glory.

            Not every story of leaving money in for the glory has worked out like Novo Resources.

            When I was trimming back many Gold/Silver positions last July or trimming Uranium positions in January of this year, many investors acted like I shot the family dog.

            However, by holding on they either did a round trip, or worse, they had just bought the top and rode it down for terrible losses.

            I’ve preserved much more cash over the years by locking in nice gains when they are present, and then leaving a core position in place at a good cost basis.

            There were a few like Novo or Claude that got away from me, but dozens and dozens of companies in many sectors where locking in the gains was the right thing to do. Making 100-200% on part of the money is sooooooo much better than the gains most investors make in Mutual Funds that average 8-15% that it should never be something to be ashamed of. However, missing 300-1000% gains is a pisser. That is why I like to leave some in place (30-60% on a core position) to keep riding….

          • On August 15, 2017 at 11:27 am,
            Excelsior says:

            That last post from me was worded poorly…. For clarity, when I trim it is usually 25-33% of a postion (1/4 or 1/3). However if a stock really takes off and double or triples quickly, then I may sell 1/2 to 2/3rds of the position and only leave 30-50% in place.

            I have never understood why investors think they need to buy their whole position in 1 transaction and sell the whole position in 1 transaction.

            Yes, it can give an investor the ultimate best returns if they happen to get lucky and buy the ultimate bottom and get even luckier and sell the ultimate top…. but that is INCREDIBLY rare to do once, much less consistently.

            I prefer averaging into a good cost basis (and average both up and down if I like the stock), and then fading out the position as it starts to run. Most times it works out great in the longer game, unless the stock is truly damaged on fundamental reasons (like recently with Primero).

            However in most cases, this is a wise risk management strategy, and I don’t care if get the exact bottom or top, and just want the gravy in the middle.

          • On August 15, 2017 at 11:29 am,
            Excelsior says:

            โ€œI never buy at the bottom and I always sell too soon.โ€ ~ Baron Nathan Rothschild

          • On August 15, 2017 at 11:59 am,
            OOTB Jerry says:

            Rothchild using reverse psychology to make everyone feel good…….

          • On August 15, 2017 at 12:02 pm,
            Wolfster says:

            Probably the best move most pros make is to buy more as their initial pick moves up as they are confirmed to be correct….. I actually bought some more MIN on Monday as I feel $2 is a proper valuation after permits and financing are established….I tend to do as you said with 1/3 of a position when an explorer moves up nicely like tk did. Definitely depends on the type of play and the risk/reward ratio

          • On August 15, 2017 at 12:04 pm,
            Wolfster says:

            And I by no means am anything remotely close to a pro in case anyone was wondering. ๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚

    • On August 15, 2017 at 9:07 am,
      Excelsior says:

      For the opposite of Novo Resources, lately, check out the Primero Chart.

      I’ve had to switch it from $PPP to $PPPMF because $PPP was delisted from the NYSE yesterday and switched tickers today. (U-G-L-Y)

      http://stockcharts.com/h-sc/ui?s=PPPMF&p=D&yr=2&mn=0&dy=0&id=p19467634447

      • On August 15, 2017 at 9:08 am,
        Excelsior says:
        • On August 15, 2017 at 9:10 am,
          Excelsior says:

          $PPPMF may be one of the most contrarian #Gold stocks out there; as the OTC ticker of $P, and with most investors having left it for dead at this point.

          San Dimas is still a great asset and mine though in #Mexico. Over time, if they can keep paying down dept, reducing costs, improving efficiencies, and doing exploration work, then they still have an outside chance of turning things around…. but it is going to take a mining minute….

          http://www.primeromining.com/English/operations/producing-mines/san-dimas-mine/default.aspx

          The new symbol $PPPMF stands for “PPP Mother Frackers” !!! (lol)

          #UnderDogs

          • On August 15, 2017 at 9:12 am,
            Excelsior says:

            …. and yes, I couldn’t help it, I even added a few shares of PPPMF to the fold.

            #TurnAround? (only for the Contrarian’s contraians out there….)

          • On August 15, 2017 at 9:17 am,
            Excelsior says:

            So far though it’s been an absolute bloodbath……. (and it tanked out many of my other gains from 2017 so far, but balanced out my tax losses ๐Ÿ™‚ )

          • On August 15, 2017 at 9:18 am,
            Excelsior says:

            Well, it will if I sell down here. Still undecided about holding for the turn around or cutting bait and running for the hills…… I want to see the next 1-2 quarters of production before making a decision.

          • On August 15, 2017 at 9:49 am,
            Matthew says:

            Bloodbaths don’t bother me but I don’t like the reasons for this one. I’d take spanky’s EXK any day.

            Poo in Canada and PooPooPoo in the U.S.!

          • On August 15, 2017 at 10:20 am,
            Excelsior says:

            Yes, I have a growing position in $EXK but they are on much firmer footing.

            The prior management and even the current management teams at Primero have destroyed the value of this company over the last 2 years making repeated bad calls, focusing on the wrong areas, piling on debt, and not running the mines as efficiently as possible.

            Selling Black Fox was important for the debt burden, but killed much of their future expansion, right when that mine was starting to deliver the goods. McEwen shareholder really benefited from that pickup. I would have preferred to have been diluted down a bit further without selling that asset.

            Now they need to raise more money to get San Dimas optimized and they’ve been delisted from the NYSE.

            I don’t think there is much downside risk left at this point (other than an all out Bankruptcy — which is still possible), but I don’t like that the new CEO went on BNN and stated emphatically that they wouldn’t have to issue any more shares to handle the debt, and that they were just going to work on optimizing operations at both both mines and expanding their resources to replenish reserves. That was a VERY misleading public statement in my opinion. He said the loan from Sprott would be enough…

            $P = Poo is a fair statement at this time. I just hope there are a few corn kernels in there (gold) to keep this thing afloat. ๐Ÿ™‚

          • On August 15, 2017 at 10:30 am,
            Matthew says:

            Re: “Selling Black Fox was important for the debt burden…”
            Yes, but they got a pittance for it and shouldn’t have taken on so much debt to begin with.

            There might not be much downside left, but that doesn’t mean there’s much upside either. We need a positive development of some kind and it better be good.

          • On August 15, 2017 at 10:37 am,
            Excelsior says:

            Yeah – agreed. Again, I didn’t like that they sold Black Fox for about 1/8 of what they paid for it, and would have preferred that they held onto it. I know they need to pay down debt but that seemed like really bad decision.

            However, if they can get San Dimas back on track over the next few quarters and crank out the production (without more strikes and nonsense from workers) then they can build a ladder out of the hole they are currently in.

          • On August 15, 2017 at 10:42 am,
            Matthew says:

            Conway has talked about selling San Dimas, too – looks like a raid to me.

          • On August 15, 2017 at 10:57 am,
            Excelsior says:

            Yeah – I’m disappointed and was expecting much more from Joe. He’s been a good CEO in the past and for other companies, but they are giving away the assets of this company and I’m surprised there are many lawsuits about just selling the Black Fox mine.

            He said they would be fine just working on cost controls, and I feel he lied publicly about their plans moving forward. Ridiculous…. but not surprising in the mining industry.

          • On August 15, 2017 at 10:58 am,
            Excelsior says:

            correction. I’m surprised there are NOT many more lawsuits about them selling Black Fox at such a discount.

            It is sinister.

          • On August 15, 2017 at 11:40 am,
            Matthew says:

            It’s really not surprising in any industry. There’s plenty of shady stuff anywhere you look including the “junior” tech stocks.

    • On August 15, 2017 at 9:24 am,
      OOTB Jerry says:

      Bob M…321gold……said on the 13th…….he was not selling his Novo shares….., Bobby is happy as a pig in pooo…… ๐Ÿ™‚

      • On August 15, 2017 at 9:25 am,
        OOTB Jerry says:

        I bet Billy will not acknowledge that…… ๐Ÿ™‚

        • On August 15, 2017 at 10:24 am,
          Excelsior says:

          +1

      • On August 15, 2017 at 9:29 am,
        Excelsior says:

        Bob M and Bonzo Barzini have likely just made an insane fortune.

        I know investors that hung on all the way from the bottom to now and they are doing laundry drops in their pants today.

        It pains me to see the chart because I was positioned at rock bottom, but really I couldn’t conceptualize just how far this run would go.

        This one really has gone to the Moon!!!!

        So happy for Cory & Big Al as well, as they’ve had a killer last year with show sponsors. First Exeter, then Mariana, and now Novo. Well done!!

        (who’s next Rye Patch or Auryn or Falco??)

        • On August 15, 2017 at 9:41 am,
          JohnK says:

          Don’t forget AMY.V +775%.

          • On August 15, 2017 at 10:23 am,
            Excelsior says:

            absolutely, the end of last year was zesty in AMY.

        • On August 15, 2017 at 9:41 am,
          Wolfster says:

          Excelsior????

          • On August 15, 2017 at 10:22 am,
            Excelsior says:

            Yeah – MIN Excelsior will likely get their permits and make it a go in the copper space.

            Especially since I’m sold out at present. (lol).

        • On August 15, 2017 at 10:44 am,
          Bonzo Barzini says:

          I’ve made enough on Novo to cover my losses on PPP, Allied NV, and Midway several times. And Novo may go much higher when the public hears about it. So far only goldbugs have heard of it. It has not been mentioned in WSJ, IBD, Barron’s, NBR, Cramer, or anywhere. The public will go absolutely ape over Novo. MUX has mines in Mexico. Maybe they will buy San Dimas from Primero for a song.

          • On August 15, 2017 at 11:00 am,
            Excelsior says:

            Well done Bonzo Barzini. Very well done.

            P.S. – Don’t encourage Primero on selling San Dimas too….. You already got a big enough gift this month when they sold Black Fox to MUX.

            The mining business is absolutely insane and is still the wild west of business….

          • On August 15, 2017 at 11:03 am,
            Excelsior says:

            However, If I was Randy Smallwood over at Wheaton Precious Metals…. I’d probably just buy Primero at this point (like how Sandstorm just bought Mariana).

            The valuation for San Dimas is so crazy at this point, that they could have it all for a song & a dance….. They better make a move before the jig is up.

          • On August 15, 2017 at 11:27 am,
            Bonzo Barzini says:

            Yes, WPM should buy San Dimas. With the silver stream the mine might not be profitable for anyone except WPM. But WPM doesn’t operate mines, so maybe MUX could buy it and make a new deal with WPM that would be good for both.

          • On August 15, 2017 at 11:32 am,
            Excelsior says:

            MUX better pay up this time then…. ๐Ÿ˜ฎ

            Sandstorm doesn’t operate mines either, but they bought Mariana. I was thinking that that if WPM bought out Primero, that they would do a hell of lot better at reselling the company and assets than the $P -team has been doing.

            Just a thought….

          • On August 15, 2017 at 1:23 pm,
            Bonzo Barzini says:

            Excelsior, you are right. WPM should buy San Dimas and sell 1/2 to a good operator like AG, EXK, PAAS, or MUX.

          • On August 15, 2017 at 6:13 pm,
            Excelsior says:

            After reading over the transcript from their most recent investor conference call they are apparently in advanced stages of selling just the San Dimas Mine. After selling Black Fox and with plans to sell San Dimas, that would only leave them with their 2 Development projects: Cerro Del Gallo & Grey Fox, and their Ventanas and San Anton Exploration targets.

            I guess they would transition from a producer over to a Developer/Explorer using the sale of both mines and the Mexican tax credits to pay off the debt they accumulated.

            Here is a map and listing of all Primero’s operations:

            http://www.primeromining.com/English/operations/default.aspx

          • On August 15, 2017 at 6:16 pm,
            Excelsior says:

            At least the 2 development projects and 2 exploration projects are unencumbered with streaming deals from Wheaton River.

            It is going to be an interesting rest of the year for Primero, but in reading the transcript they at least settled down the unions on July 29th by paying a partial bonus, with the rest payable at year end. They believe this will motivate the staff to get busy and get things moving again for the balance of the year.

  2. On August 15, 2017 at 9:02 am,
    Silverdollar says:

    Most sensible article I’ve seen on the N. Korea/US issue: https://theintercept.com/2017/08/14/we-can-stop-north-korea-from-attacking-us-all-we-have-to-do-is-not-attack-them/ Now, our only risk is if our Supreme Commander can accept or even understand this logic! JMO

  3. On August 15, 2017 at 9:06 am,
    OOTB Jerry says:

    China needs to build some more ghost cities…………… lol

  4. On August 15, 2017 at 9:08 am,
    spanky says:

    I predicted GCC was going to at least re-trest its 2017 low, and it looks like I will be right.

    http://stockcharts.com/h-sc/ui?s=GCC&p=D&b=5&g=0&id=p27893605765&a=539644926&listNum=1

    • On August 15, 2017 at 9:16 am,
      Excelsior says:

      spanky – I gotta give you props for your call on Impact (IPT) [although I believe you were using the OTC ticker (ISVLF) for your charting].

      After the large pullback in IPT, I’ve been adding more……..

      http://stockcharts.com/h-sc/ui?s=IPT.V&p=D&yr=2&mn=0&dy=0&id=p06394294739

      • On August 15, 2017 at 9:20 am,
        Excelsior says:

        There have been some interesting chats over at ceo.ca regarding IPT and there seems to be increasing interest as the share price plummets….

        The #BottomFeeders are about to put in a bid on this small Silver Producer, and when this thing turns to the upside, it’s gonna be a hootenanny!

        https://ceo.ca/ipt

  5. On August 15, 2017 at 9:32 am,
    Excelsior says:

    Speaking of Silver Miners….. Dolly Varden continues to impress and is all the rage the last few days…. I was overweight in the position and I trimmed a little on today’s news blast, but still holding most of it for the ride…… Great action in DV !!

    _______________________________________________________________________

    (DV) Dolly Varden Discovers a New Zone with an Intercept of 16.10 Metres Grading 293 g/t Silver-Equivalent, Including 7.65 Metres Grading 517 g/t, Located 200 Metres North of the Torbrit Deposit in the Golden Triangle, Northwestern British Columbia

    by @newswire on August 14, 2017

    https://ceo.ca/@newswire/dolly-varden-discovers-a-new-zone-with-an-intercept

    • On August 15, 2017 at 9:33 am,
      Excelsior says:

      Investors are getting amped up over at ceo for DV….. (very encouraging)

      https://ceo.ca/dv

  6. On August 15, 2017 at 9:36 am,
    Excelsior says:

    More positive news in the Silver mining sector today as Kootenay (KTN) (KOOYF) continues to hit pay dirt.

    ______________________________________________________________________

    Kootenay Announces Core Drilling Discovers Significant new Mineralized Silver Zone, 1,000 Meters South of NI 43-101 Resource

    by @newswire on August 15, 2017

    Kootenay President and CEO James McDonald states, “The discovery of a mineralized zone of this magnitude and strength of veining in the world-class Parral mining district is a highly significant development for the company. The large-scale nature and intensity of the mineralized zone offers exceptional future growth potential and is characteristic of other major silver deposits in the district such as the San Francisco Del Oro and Santa Barbara mines located closely to the immediate south.”

    https://ceo.ca/@newswire/kootenay-announces-core-drilling-discovers-significant

    • On August 15, 2017 at 9:37 am,
      Excelsior says:
      • On August 15, 2017 at 9:41 am,
        Excelsior says:

        (KTN) (KOOYF) in addition to their La Cigarra deposit, also has their Promontorio Asset:

        Promontorio – “Large, Bulk tonnage #Silver resource”.

        โ€œProvides additional upside to high grade La Negra silver discovery
        under option to Pan American Silver – Carried to Productionโ€

        http://www.kootenaysilver.com/projects/promontorio

        • On August 15, 2017 at 9:42 am,
          Excelsior says:

          (KTN) (KOOYF) also has the La Negra property also optioned to $PAAS Pan American Silver:

          http://www.kootenaysilver.com/projects/la-negra

        • On August 15, 2017 at 9:49 am,
          JohnK says:

          Marlin has had some nice intercepts and I’d bet their on somebody’s radar.
          1/31 26.7 meters at 3.75 g/t Au
          6/12 38.7 meters at 5.12 g/t Au.

          • On August 15, 2017 at 10:30 am,
            Excelsior says:

            I’ve been making a steady killing on Marlin since the middle of last year, and have posted on them a few dozen times, but nobody seems to have much interest in discussing them.

            I love that they are a hybrid company (producer/Royalty-Streamer) with the producing gold mine, huge Gold development project, a streaming deal with Golden Reign, a royalty on El Compass which is the next mine slated to go into production for Endeavour Silver (EXK), and a royalty on La Cigarra the (KTN) Kootenay Silver project referenced above.

            Also, Wexford owns 85% of the stock so the float is very tight, and it has been the big winner.

            Also, they just nabbed (SCZ) Santa Cruz Silver’s best Development project the Gavilanes asset :

            ___________________________________________________________________

            Santacruz Silver Enters Definitive Agreement to Sell Gavilanes Project to Marlin Gold for US$3.5 million

            August 8, 2017 — Vancouver, B.C. — Santacruz Silver Mining Ltd. (TSX.V:SCZ) and Marlin Gold Mining Ltd. (TSX.V:MLN)

            Akiba Leisman, Executive Chairman and Interim CEO of Marlin states that “this acquisition is a great transaction for both companies. Marlin gets to acquire an advanced exploration asset in one of the most prolific mining jurisdictions in the world for an attractive price, and Santacruz emerges as a debt free silver producer. The potential of Gavilanes is substantial, and we are proud to use the full extent of our technical and financial capabilities to advance the project and add substantial value to Marlin shareholders.”

            Arturo Prestamo, CEO of Santacruz says that “This transaction will allow us to settle in full our outstanding obligations to JMET, LLC thereby unencumbering our assets, improving our working capital and giving us more flexibility to advance our producing Veta Grande and Rosario Projects”.

            http://www.santacruzsilver.com/s/news_releases.asp?ReportID=799200

  7. On August 15, 2017 at 9:43 am,
    Matthew says:
  8. On August 15, 2017 at 9:53 am,
    spanky says:

    I now give my blessing to load the boat with IPT.V this week.

    The ugly black candle on the weekly chart will be cleansed from the chart if we close the week at this level or below. Also, the weekly stochastics have been deeply oversold for going on 4 months now.

    • On August 15, 2017 at 10:31 am,
      Excelsior says:

      Loading the boat…. ๐Ÿ™‚

      • On August 15, 2017 at 11:43 am,
        Matthew says:

        My average today is under C$.30 ๐Ÿ™‚

        • On August 15, 2017 at 11:43 am,
          Matthew says:

          (yippy)

  9. On August 15, 2017 at 9:57 am,
    spanky says:

    IPT.V

    http://stockcharts.com/h-sc/ui?s=IPT.V&p=W&b=5&g=0&id=p26114738465&a=539660400&listNum=1

    You basically would have to go back to the 2008 crash to see stochastics this oversold for this length of time.

  10. On August 15, 2017 at 9:59 am,
    JohnK says:

    Almadex AMZ.V. Look at the meters on this one.
    534.9 meters at .90g/t Au.,.30% Cu

  11. On August 15, 2017 at 10:00 am,
    spanky says:

    I would expect a rapid backtest of at least the 200 WMA on the next rally for IPT.V

    http://stockcharts.com/h-sc/ui?s=IPT.V&p=W&b=5&g=0&id=p26114738465&a=539660400&listNum=1

  12. On August 15, 2017 at 10:03 am,
    Ebolan says:

    But of course it’s not nearly enough, so get back to work, tax surfs…

    Thieves Grab Record Loot
    https://www.lewrockwell.com/political-theatre/thieves-grab-record-loot/

  13. On August 15, 2017 at 10:05 am,
    spanky says:

    Hope I am not jinxing AXU, but it has held up like a champ. the 20 and 50 dma are trending upwards. consecutive closes above the 100 DMA would be nice. I am a bit weary of the black candles though. I am willing to give it the benefit of the doubt as long as it doesn’t completely crap the bed and drop below the 50 dma.

    http://stockcharts.com/h-sc/ui?s=AXU&p=D&b=5&g=0&id=p11780305230&a=539665274&listNum=1

    It could easily drop down to tag the 100 WMA at 1.25 at any time. Below that would be the flat 50 month MA at 1.08. That would be the back up the truck level. Same with HL at $3.66. Not saying they will get there, but they easily could intramonth, or even dip below instamonth. A monthly close below those MAs would be worrisome for sure.

    • On August 15, 2017 at 10:33 am,
      Excelsior says:

      AXU is a champ. It’s one of the Silver stories that I am most bullish on for the next 12 months.

      They have a ton of catalysts coming up and this quiet period was the ideal time to be accumulating them before all their exploration results, decision to move back into production in early 2018, and updated economic studies are released.

      Alexco is set to jet….

      • On August 15, 2017 at 10:39 am,
        Excelsior says:

        $AXU $AXR Alexco Resources: Building a World Class #Silver Asset with CFO Mike Clark
        Cambridge House Conference โ€“ Jun 12, 2017

        #VIDEO โ€“ #CorporatePresentation #Development into #Production in 2018 #Yukon

        https://www.youtube.com/watch?v=RyF_RvNnLiY

  14. On August 15, 2017 at 10:17 am,
    spanky says:

    IF YOU ARE A PM BULL, arguably today is a great day to buy. It doesn’t get more clear cut than this.

    http://stockcharts.com/h-sc/ui?s=GLD%3AGDX&p=W&b=5&g=0&id=p74356798230&a=539667355&listNum=1

    • On August 15, 2017 at 10:37 am,
      Matthew says:

      It’s a great day to buy if you’re NOT a permabull.

      • On August 15, 2017 at 10:41 am,
        Excelsior says:

        It sounds like it’s a great day to buy in either case….. ๐Ÿ™‚

      • On August 15, 2017 at 10:47 am,
        spanky says:

        Not a bad spot to short either, if you are a bear, although your stop would be much closer on a touch of the lower rail.

      • On August 15, 2017 at 10:53 am,
        spanky says:

        Well, by definition, every day is a good day to buy if you are a permabull.

        • On August 15, 2017 at 11:05 am,
          Excelsior says:

          +1 ( I believe that was point Matthew was making above, that today is a good day to buy if you aren’t a permabull because there is true deep value all over the place in the Precious Metals sector).

          • On August 15, 2017 at 11:45 am,
            Matthew says:

            Correct. Today is a good day even for the discerning buyer.

          • On August 15, 2017 at 6:19 pm,
            Excelsior says:

            Thanks Matthew. Some investors here think everyone is Buy, Buy, Buy all the time, but that is not the case, and there were times people shorted the miners using inverse ETFs and times people moved to the sidelines. However when there are major dips and stocks trading at incredibly low valuations, then that is when discerning buyers should add to positions. This seems to escape certain posters as witnessed below.

      • On August 15, 2017 at 11:06 am,
        b says:

        every day is a great day to buy.
        at least in the opinion of this site.
        in the years i have been reading this blog there has not been a single day that was not considered a good day to buy PMs.

        And in one way of thinking thats true.

        I wonder if a goldbug could ever own enough gold, if he has every single gram would he go out and pan? lol

        • On August 15, 2017 at 11:10 am,
          spanky says:

          My point here is that if you are long, your stop is close by this week. Yes the break up or down out of the triangle could be violent, but when has investing ever been risk free (unless you buy AMZN or GOOG of course).

        • On August 15, 2017 at 11:49 am,
          Matthew says:

          You’re imagining things, b. Absolutely no one here says to buy every day and I only start to buy after a significant correction. THEN it could be every day for awhile.

          • On August 15, 2017 at 6:22 pm,
            Excelsior says:

            Agreed Matthew. b is always banging on that swipe that “It’s always a good time to buy” but seems to be a lazy reader. The times to buy are during corrective price moves, or sometimes it is isolated to only certain stocks. I can’t think of anyone other than Franky/James that advises buying every day.

            Like you mentioned though, when a trend is bottoming technical data looks to point to a move higher, then it very well may be time to buy every day for a stretch of time.

            Apparently the concept of “buying low” escapes certain people.

  15. On August 15, 2017 at 11:10 am,
    Excelsior says:

    Wow – Regulus has really gone epic today on their drilling results. This chart from TY says it all:

    _____________________________________________

    @Ty $REG chart

    http://cdn.ceo.ca/1cp6cra-Screen%20shot%202017-08-15%20at%207.45.57%20PM.png

    • On August 15, 2017 at 11:12 am,
      Excelsior says:

      @Goldfinger – “$REG was our first portfolio addition to the Model Resource Portfolio in the Trading Lab at C$1.35 (still holding). This is a beautiful technical breakout.Looks like they’ve got some big $copper, $gold, $silver intercepts on their hands:”

      Regulus Intersects 184 M With 1.54% Copper, 1.05 G/T Gold and 11.9 G/T Silver in First Drill Hole at AntaKori Project, Peru
      by @nasdaq on August 15, 2017

      https://ceo.ca/@nasdaq/regulus-intersects-184-m-with-154-copper-105-gt

  16. On August 15, 2017 at 11:25 am,
    Markedtofuture says:

    Jim Rickards @JamesGRickards

    N. Korea threat to Guam over? Guess again. It will be carried out during U.S. mil exercises Aug 21-31: http://bit.ly/2fJ1kJ0 . @PeterMCoyne

    1:01 PM – Aug 15, 2017

    • On August 15, 2017 at 11:43 am,
      OOTB Jerry says:

      The solar eclipse is on the 21st of AUG…….if, the sun goes dark on the 21st…the sheeple might think it is a nuke blocking out the sun……… ๐Ÿ™‚

      • On August 15, 2017 at 11:46 am,
        Excelsior says:

        I’ve got my special Solar Eclipse glasses on my desk – ready for the event!!

        • On August 15, 2017 at 12:01 pm,
          OOTB Jerry says:

          Don’t black out……from lack of vitamin D

          • On August 15, 2017 at 12:03 pm,
            OOTB Jerry says:

            Indianapolis is to far north, ….so we will see very little, most of the action will be in Ky. so they say…….

          • On August 15, 2017 at 12:29 pm,
            Excelsior says:

            I’m below you in latitude so our view will be great.

            Took 5000 mg of Vitamin D today. I don’t get enough sunshine in my underground lair.

            http://resources3.news.com.au/images/2010/12/09/1225968/549943-julian-assange.jpg

          • On August 15, 2017 at 12:42 pm,
            OOTB Jerry says:

            Are those stand up hotel rooms…….looks like a lot of vacancies…..

          • On August 15, 2017 at 12:43 pm,
            OOTB Jerry says:

            Those are about all the room the sheeple will be able to rent , once the crash comes….

        • On August 15, 2017 at 1:30 pm,
          Bonzo Barzini says:

          I try to get 20 minutes of sun a day in my thong down here in TX. You can get a good tan and lots of vit D with 20 min a day of sunshine. And I keep my bare feet in the wet grass while sunning as earthing is good too. I keep the sun off my face and ears and neck.

          • On August 15, 2017 at 6:24 pm,
            Excelsior says:

            The sunshine sounds good. The thong….not so much…. ๐Ÿ˜ฎ

  17. On August 15, 2017 at 11:35 am,
    Excelsior says:

    corpio Gold Initiates a NI 43-101 Compliant Bankable Feasibility Study Report for Processing the Heap Leach Mineral Resource at Mineral Ridge

    August 14, 2017 – Scorpio Gold Corporation(TSX-V: SGN) (SRCRF)is pleased to announce its decision to proceed to prepare a NI 43-101 compliant Bankable Feasibility Study, based on an internal economic assessment and the Mine Technical Services resource confirmation report released on July 12, 2017, which confirmed the Mineral Ridge heap leach pad mineral resource as indicated in the following table:

    Resource Category Tons (kt) Au (oz/ton) Ag (oz/ton) Contained Au (koz) contained Ag (koz)

    Measured 2,895 0.017 0.016 48.5 46.4
    Indicated 4,220 0.017 0.018 73.2 74.1
    Measured & Indicated 7,115 0.017 0.017 121.7 120.4
    Inferred 76 0.016 0.027 1.2 2.0

    http://www.scorpiogold.com/s/news.asp?ReportID=799757

    • On August 15, 2017 at 12:01 pm,
      Dan, calgary says:

      I am nibbling at it still. Looks like a bit of volume on the bid side now. There seems to be a lot of silver miners up on a deeply down bullion day.

      • On August 15, 2017 at 12:06 pm,
        Matthew says:

        Yes, SIL and SILJ are down less than silver and that can only be construed as bullish. How bullish, we don’t know, but I like the way things are finally shaping up.

    • On August 15, 2017 at 12:04 pm,
      Dan, calgary says:

      Doesn’t it look like a typo on the oz/ton of Ag?

      • On August 15, 2017 at 12:08 pm,
        Excelsior says:

        It’s correct. Most investors are just used to grams/ton.

        • On August 15, 2017 at 12:09 pm,
          Excelsior says:

          I did a quick Scorpio Mining (SGN) overview over at ceo.ca for anyone interested.

          There are some cool maps in this post:

          https://ceo.ca/sgn?0a738c4d52da

      • On August 15, 2017 at 12:09 pm,
        Matthew says:

        I know what you mean but it’s just very low grade.

        • On August 15, 2017 at 12:11 pm,
          Dan, calgary says:

          Haha. I am so used to looking at silver miners that it looked like it shouldn’t have even been mentioned.

          • On August 15, 2017 at 12:24 pm,
            Excelsior says:

            Agreed – It is Tailings after all….

            The main point of the release is that they are going to be able to feed Mineral Ridge with the old tailings to keep the lights on while they are permitting the other satellite deposits near the mill.

          • On August 15, 2017 at 12:26 pm,
            Excelsior says:

            That seemed like good news to me, since the market has discounted down in price their ability to find more ore for Mineral Ridge.

            Personally, I feel SGN will surprise the markets with some of their other surrounding exploration work which has historically been much higher grade material.

          • On August 15, 2017 at 12:37 pm,
            Matthew says:

            And it is a GOLD mine after all! ๐Ÿ˜‰

          • On August 15, 2017 at 12:48 pm,
            Dan, calgary says:

            Thanks for simplifying things out. I appreciate both of your input. (;-)

  18. On August 15, 2017 at 11:45 am,
    Excelsior says:

    Tinka Expands Zinc Mineralization At South & West Ayawilca
    August 15th, 2017

    36.3 METRES GRADING 5.2 % ZINC INCLUDING 5.5 METRES GRADING 12.5 % ZINC IN HOLE A17-079 MINERALIZATION REMAINS OPEN

    “At West Ayawilca, holes A17-079 and A17-080 intersected significant thicknesses of high grade zinc mineralization, and have extended the West Ayawilca zinc zone by approximately 150 metres to the northeast. Mineralization at West Ayawilca remains open in that direction. At South Ayawilca, hole A17-078 has intersected manto-style mineralization a further 250 metres east from hole A17-075 (20.8 metres at 5.0 % zinc). Zinc mineralization remains open at South Ayawilca over approximately 700 metres (see Figures 1 & 2).

    Upcoming holes are planned to test the extensions of South Ayawilca zinc mineralization to the east and south. Additional holes are planned to follow up the bonanza silver intercept in A17-072 (2 metres at 3,170 g/t silver).”

    https://www.tinkaresources.com/news/tinka-expands-zinc-mineralization-at-south-and-west-ayawilca

    • On August 15, 2017 at 11:47 am,
      Excelsior says:

      I Zinc they are doing a damn good job.

      • On August 15, 2017 at 12:34 pm,
        Wolfster says:

        Agreed….got ahead of itself on the initial run up from early drill results so not getting much reaction these days as they continue to hit with every drill result

        • On August 15, 2017 at 6:28 pm,
          Excelsior says:

          I’ve noticed that companies that come out of the gates strong get a big rush, but then as they continue to keep hitting and hitting and hitting on drill results (which should be even better news) the investors get fatigued.

          Just look at Nexgen, Osisko, or Excellon where they continue to keep delivering but the markets have gotten complacent with the success. It’s very counter-intuitive, but it is almost better to look for explorers that “might” have something than the ones that are proving they do have something. What a wacko business.

  19. On August 15, 2017 at 1:11 pm,
    spanky says:

    Still not giving me warm fuzzies. A large breakdown from here could start tomorrow. The lower bollinger band is just begging to be penetrated.

    http://stockcharts.com/h-sc/ui?s=GDXJ%3AGLD&p=D&b=5&g=0&id=p68369371813&a=539701831&listNum=1

  20. On August 15, 2017 at 1:34 pm,
    Bonzo Barzini says:

    Does anyone here own MAG? All 10 of its analysts have a buy rating and Ron Paul owns it too. Maybe I should get some…

    • On August 15, 2017 at 3:54 pm,
      Tad says:

      Yes. Gotta get some… Long term winner.
      Massive grades 600g/t, 160Moz, 1BN market cap, loads of cash.
      Pretty static share price the past year.. I’m hoping it will jump.

      http://www.magsilver.com/i/pdf/factsheet.pdf

      • On August 15, 2017 at 3:57 pm,
        Tad says:

        Anyone got an opinion on Asanko?
        It’s “kiss or kill” time.

        • On August 15, 2017 at 7:48 pm,
          Excelsior says:

          The Muddy Waters short piece was very critical of Asankos pit walls collapsing and that they had mined out too fast and too deep to access the highest grade ore during the metals Bear market, and so this really accelerated their share price down even harder during the GDXJ rebalancing fiasco.

          Marin Katusa put out one of his counter-argument pieces that addressed some of the concerns, but most of the geos and engineers over at ceo felt it is a problematic asset for the longer term.

          I have no doubt it will bounce with the rest of the Gold producers if metals prices start to rise this fall, but there are other depressed producers that look like better longer term growth stories IMO.

          • On August 16, 2017 at 6:13 am,
            Tad says:

            Yes. Thanks Ex. I saw that muddy piece. It’s sure taken a beating…. Not inclined to ‘average down’ on this one. Will probably keep as is and look to dump when/if it climbs back up. I like Americas Silver at the moment.

          • On August 16, 2017 at 6:47 am,
            Excelsior says:

            Yeah, I think Asanko will claw it’s way back up out of the present low price environment, but most of the mid-tier and smaller producers are so bombed out right now, that most of them are at very attractive prices, and some have less issues to deal with.

            As for Americas Silver, it has some key catalysts coming for the balance of the year with the ramp up of San Rafael into production. We are in the transition at present but there should be more news flow over the next few months. With Zinc & Lead prices so elevated it really is helping the cause.

    • On August 15, 2017 at 7:44 pm,
      Excelsior says:

      MAG silver’s JV with Fresnillo is one of the larger Silver development projects in the works, along with the Golden Arrow/Silver Standard JV in Argentina.

      The operating cost for MAG Silver’s Juanicipio Property is supposed to be the only project that will have a production cost lower than Americas Silver’s 2018 guidance (once San Rafael is in production).

      MAG silver has nice exposure in a few ETFs as well, but it isn’t cheap at these levels.

      • On August 16, 2017 at 6:16 am,
        Tad says:

        Agreed.
        I do wish these companies would stop changing their names though ๐Ÿ™‚

  21. On August 15, 2017 at 1:59 pm,
    Dan, calgary says:

    On the foolish, bullish side… 10 of the 30 Kitco silver stocks were up today on a 2.64% drop in bullion price.

    For poops and giggles… http://www.kitco.com/news/2017-08-15/Recent-Filings-Show-Billionaires-Not-Giving-Up-on-Gold-Yet.html

    • On August 15, 2017 at 3:28 pm,
      Dan, calgary says:

      Sarc. of course, I am bullish but prolly foolish too… (;-D

      • On August 15, 2017 at 7:49 pm,
        Excelsior says:

        good one

  22. On August 15, 2017 at 2:14 pm,
    Silverdollar says:

    Oh to have been so foolish to have owned 22 million shares of Nova.

    • On August 15, 2017 at 6:30 pm,
      Excelsior says:

      +22 (and to have held on to them)

  23. On August 15, 2017 at 3:04 pm,
    Wolfster says:

    Blurb from Thom about Pasinex
    Pasinex Resources (direct-shipping ore that contains zinc, lead and silver from a Turkey mine.) Steve Williams, a transplanted Australian to Ontario, Canada, is CEO. Outside shot, I believe, that Pasinex will unveil a stock dividend, or a cash one, soon. (PSE in Canada ticker and trades in Germany as PNX.)

    • On August 15, 2017 at 6:30 pm,
      Excelsior says:

      Pasinex has been doing a great job, but some investors just won’t touch Turkey.

  24. On August 15, 2017 at 7:33 pm,
    Bonzo Barzini says:

    I’ve been reading that Novo may be much bigger than the Witwatersrand and much higher grade. If it’s just twice as big then that’s 5 billion oz. or 30 oz per share. If ea oz in the ground is worth just $33 then that makes $1000 a share. And if the public goes ape and a bubble forms it could go to 3K per share. And if gold goes to 10K per oz then Novo could go to 30K per share. You’ve got to have a dream or you’ll never have a dream come true!

  25. On August 15, 2017 at 9:27 pm,
    Dan, calgary says:

    U308 price up to 20.75 on 24hr delay.

    • On August 16, 2017 at 6:17 am,
      Excelsior says:

      It would be nice to see it creep up into the mid $20’s for the balance of the year, but nobody will get excited until it hits $40-$50+ Some of the hard rock producers need $60+. It would be like having a gold price of $400-$500 at present production costs, so it clearly is unsustainable, but when the other shoe drops….. nobody knows…..

      • On August 16, 2017 at 6:35 am,
        Dan, calgary says:

        I’ll take it fer now. It could be the start of a trend.

        • On August 16, 2017 at 6:43 am,
          Excelsior says:

          Agreed. The Uranium market has been in desperate need of a new trend for some time.

          It very well could be that the $18 level hit last November and few months back was “The” double bottom. If it’s onward and upward from here, then it will be a very good thing.

  26. On August 16, 2017 at 6:21 am,
    Excelsior says:

    US researchers find unexpected new source of much-needed Lithium

    Supervolcanoes could hold the key to supplying the key element needed for rechargeable batteries used in high tech devices and electric cars.

    Cecilia Jamasmie | about 3 hours ago

    http://www.mining.com/us-researchers-find-unexpected-new-source-of-much-needed-lithium/

  27. On August 16, 2017 at 6:43 am,
    Dan, calgary says:

    I just printed this off to remind myself of the “Life Cycle of a Deposit”

    https://www.geologyforinvestors.com/wp-content/uploads/Mine_Cycle.jpg

    Thanks to, I think Ex for this.

    • On August 16, 2017 at 6:58 am,
      Excelsior says:

      Yes it is good to remember where a company is on the trajectory. Catch em’ on the front end during the discovery or catch them as they are ramping up into production (or what Louis James is dubbing the “Golden Runway”). Cheers!

      • On August 16, 2017 at 7:05 am,
        Excelsior says:

        There is a 3rd bump not on these charts that happens in the production cycle, but most of the people that create these charts or that push them (like Brent Cook) are drill junkies, totally focused on the front end exploration and development into a mine. There are not as many pundits in the Precious Metals space that also break down the producers, as they leave those to other financial analysts.

        One pattern that I’ve noticed is that after the first pour and the initial production euphoria wears off, many new producers sell down as investors leave, and because new producers almost always have set back, hurtles in throughput, crushing/grinding, milling/floatation, and metals recovery. When the first quarter or two don’t meet their overly optimistic guidance, then the market throws a tantrum and all the haters come out. Then that dies down, and about a year later the kinks have been worked out, production and ounces recovered start growing, and new batch of investors that like the producers get interested.

        Of course the underlying commodity prices have a lot to do with how producers fare, but more so it is the companies costs and margins that really come into play. Lastly, if they are doing the right activity, they may attract a Major or Mid-tier that wants to buy their forward production and assets now that all the heavy lifting is completed for one last surge.

        Personally I like having a mix of Explorers, Developers, Producers and a few Royalty/Streamers, to hit different parts of the mining Life Cycle.

        • On August 16, 2017 at 7:15 am,
          Dan, calgary says:

          I added that note to my chart, thanks. I have been looking at KE ‘s sponsors list for a new investment. Some have been impressive.

        • On August 16, 2017 at 7:23 am,
          JohnK says:

          Shad:
          Another reason people mainly focus on the front end of the explorers is the bang for the buck (leverage) they can get with limited funds. By the the companies are into the production cycle they have become to expensive for those of us still trying to get out of the shallow end of the pool.

          • On August 16, 2017 at 7:44 am,
            Excelsior says:

            Good points JohnK.

            Yes, I’d agree that the “Right” explorers can have the most explosive bang for the buck, but most will strike out because it is so difficult to hit good results, and 99% will never become a mine, even if they do hit.

            Last year in 2016 the small Silver producers like Impact, Excellon, Santacruz….. and the medium producers like Americas Silver, Great Panther, Silvercorp, and Fortuna….. and even the larger producers like First Majestic and Coeur went up 500%-1000%, and some of the developers like Alexco, Bear Creek, and Silver Bear also had huge 3-8 fold moves upwards.

            There were a few explorers like Silvercrest, Orex, Canasil that did even better, but many explorers in the Silver space didn’t move much, due to lack of funds, misses, or lack of exploration.

            The thing with advanced developers or Producers is that they are far less risky than explorers (though not without risk of course), so I like having a mix.

            I’d wager to guess that investors positioned in those Silver and even some Gold producers and developers trounced the returns of most investors that just had 10-12 explorers last year.

            Everyone likes to discuss the big wins in exploration, but few acknowledge how many also strike out.

            Diversification works for me, but I do agree the most explosive gains are a well timed early entry into an Exploration company BEFORE it hits.

            Cheers.

  28. On August 16, 2017 at 7:24 am,
    JohnK says:

    By the time

    • On August 16, 2017 at 8:08 am,
      JohnK says:

      Once again very good points Shad.
      I’ve also noticed that some of your picks have been the ones taken over by the majors.
      I Love Shawn Ryan’s quote that this was the only business where failure is the norm.
      I watched a documentary about Prince the guitar player. He said that he had only one regular job and that was for only three days. He said after that he realized that he had to get really good at playing guitar.
      Success it seems takes lots of hard work and once you obtain a certain level of success,it may not be what you expected.
      One ten bagger takes care of a lot of losers.I’ve found staying in the game is more important than always hitting home runs.
      Kinda like the older race car driver who always finishes about twenty third.He has won before and in his mind he thinks he should still be able to win again.
      In this business if your finishing twenty third ,your going to get tired of eating beans and wieners.

      • On August 16, 2017 at 9:25 pm,
        Excelsior says:

        JohnK – Great comments and Prince & aging Race Car Driver analogies. Love it!!