Exclusive KE Report Commentary – Wed 18 Jul, 2018

Chris Temple and Rick Ackerman Round Table

We have a small round table today with Chris Temple and Rick Ackerman. We discuss the recent moves in the gold price with the big picture for the USD. The US markets are also considered with the overall strength. A final news story is the Commerce Department beginning its investigation into Uranium imports. It’s always great to here these two guys differing perspectives.

Click download link to listen on this device: Download Show

Click here to visit Chris’s website.

Click here to visit Rick’s website.


Featuring:
Chris TempleRick AckermanCory Fleck

Comments:
  1. On July 18, 2018 at 9:31 am,
    BDC says:

    Gold, Silver, and especially Copper, have likely bottomed today. Platinum bottomed two weeks ago. A DXY trading range of 92-93 and 95-96 is may be establishing itself. This could last for years.

    If so, and the PM high-low ratio continues to exceed the DXY high-low ratio, a very significant bottom in PMs has formed.

    • On July 18, 2018 at 10:11 am,
      Matthew says:

      Aside from the dollar being in that trading range for years, I agree.

    • On July 18, 2018 at 10:12 am,
      Matthew says:

      Not much weakness yet, but it’s coming soon…
      http://schrts.co/XhbTsZ

    • On July 18, 2018 at 6:37 pm,
      Paul L. says:

      When the dollar was around 88 I had said we could go to 95 next. I got out of GDX when gold could not hold 1300 to 1305 and took a small loss holding a few days. With interest rate hikes coming the dollar could keep rallying. Can’t see gold holding 1200 but I don’t really follow it and tend to stay out of this sector.

      • On July 18, 2018 at 6:59 pm,
        Matthew says:

        A shot higher for the dollar is definitely not far fetched and I agree that gold will likely lose 1200 if it happens. Right now, worst case seems to be about 1170-1180.

        I still think we have a good shot at a low happening near the current level.

        Good call on the dollar, btw. As I’ve mentioned before, your calls seem to be right a lot more often than not.

    • On July 19, 2018 at 6:21 am,
      BDC says:

      Well, that didn’t last long…lol.
      Still, the week is not lost.
      Watching ….

      • On July 19, 2018 at 6:38 am,
        Matthew says:

        I agree, the week is not lost!

  2. On July 18, 2018 at 9:43 am,
    Markedtofuture says:

    Approvals starting to fall for Artemis at Radio Hill

    Artemis Resources is another step closer towards selling gold and banking cash after receiving the first of three key approvals needed to commence installation of a new gold circuit at its wholly-owned Radio Hill processing plant near Karratha, Western Australia.

    https://thewest.com.au/business/public-companies/approvals-starting-to-fall-for-artemis-at-radio-hill-ng-b88899145z

    • On July 18, 2018 at 6:19 pm,
      Ozibatla says:

      I know of a guy who does gold prospecting purely as an individual in Western Australia. Hes done it for 15 years and says theres plenty of gold to be found throughout the state. All one needs is a reliable vehicle, quality metal detector and some prior knowledge of the mining towns dotted around the state. He also mentioned you need to be willing to camp in the outback for 4-8 weeks at a time. It can be very unforgiving in this part of the world and I for one would not be able to do it for that long at any one time.

      The mining sector is definately recovering here in Aus. And that goes for the majority of metals in the resource sector.

      • On July 19, 2018 at 1:57 am,
        Excelsior says:

        This is some of the better Gold prospecting from this week:

        ___________________________________________________________________

        Wreck of Russian warship found, believed to hold gold worth $130 billion
        Holly Ellyatt – 21 Hours Ago

        – A South Korean salvage team has reportedly discovered the wreck of a Russian warship
        – It’s believed to still contain 200 tons of gold bullion worth 150 trillion won ($130 billion)
        – The Russian Imperial Navy cruiser Dmitrii Donskoi was sunk 113 years ago

        https://www.cnbc.com/2018/07/18/wreck-of-russian-warship-found-believed-to-hold-gold-worth-130-billi.html

      • On July 19, 2018 at 6:11 am,
        Robert Moriarty says:

        Ozibatta:

        You are understating the case. There were guys using metal detectors in a gravel pit just off the highway near Karratha who took out 200-300 ounces of gold in a weekend a couple of years ago. the pit was about 100 meters wide and maybe 2 meters deep.
        There are people making fortunes there with the gold found at surface.

  3. On July 18, 2018 at 9:45 am,
    Markedtofuture says:

    World’s Biggest Miners Want More Copper But Nobody’s Selling

    It’s the mining world’s biggest dilemma: everyone’s hunting for copper deals, but even the richest producers just can’t pull the trigger.

    https://www.bloomberg.com/news/articles/2018-07-16/the-world-s-biggest-miners-want-more-copper-but-nobody-s-selling

  4. On July 18, 2018 at 9:55 am,
    george says:

    RMIOF, Romios Gold update please

  5. On July 18, 2018 at 12:16 pm,
    CFS says:

    I don’t see HOW interest rates can go up much other than a token one or two rises.
    I don’t see how the dollar can go up much as the petrodollar disappears.

    With the development of the one road, expanding Chinese trade in Yuan and Sino-Russian trade not in US Dollars, the U.S. dollar should decline against the Yuan….this implies more expensive U.S. imports, not deflationary effects; together with increased deficits. Increased deficits should decrease the value of the dollar.
    Except for a European collapse……
    A European collapse would imply an increasing dollar index, but NOT necessarily cheaper imports, because China is running out of US treasuries to sell to keep the Yuan stable or low.
    The big unknown is US imposed trade tariffs, since this could be a major source of US tax income.

    I beg to disagree with Rick and Chris, but what do I know?

  6. On July 18, 2018 at 12:19 pm,
    CFS says:

    WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell says that the central bank has tools it could use to cushion the adverse effects a trade war might have on the economy. But he tells Congress the effort could be challenging if higher tariffs push inflation up too sharply.

    Powell says if the retaliatory tariffs imposed by other countries caused the U.S. economy to slow, the Fed could employ its normal tools, such as lowering interest rates.

    But he says that could become complicated if higher U.S. tariffs on foreign products caused inflation to accelerate. That’s because the Fed’s normal response to higher inflation is to raise interest rates, not lower them.

  7. On July 18, 2018 at 4:05 pm,
    Markedtofuture says:

    PIO.AX PIONF : Noosa Mining Investment Forum Presentation

    https://www.asx.com.au/asxpdf/20180719/pdf/43wmf5sd97t0wp.pdf

  8. On July 18, 2018 at 5:53 pm,
    CFS says:

    markedtofuture, did you actually read the content of your posted site?
    A lot of words, saying virtually nothing.
    Proving absolutely zilch.
    Just clickbait, with scattered known old stuff, suggesting the possibility of future information but providing nothing.

  9. On July 18, 2018 at 6:08 pm,
    CFS says:

    This is the information Hal Turner could not find:

    https://freebeacon.com/national-security/russian-government-initiative-gave-millions-to-clinton-foundation/

    It was reported in this forum about two years ago.

  10. On July 18, 2018 at 6:46 pm,
    CFS says:
  11. On July 18, 2018 at 6:54 pm,
    CFS says:

    Klondike Gold drills 65.05 m of 1.4 g/t Au at Klondike

    2018-07-18 10:08 ET – News Release

    Mr. Peter Tallman reports

    KLONDIKE GOLD LONE STAR ZONE ASSAYS 1.40 G/T AU OVER 65.05 METERS, INCLUDING 6.07 G/T AU OVER 8.45 METERS

    Klondike Gold Corp. has provided assay results from seven drill holes at the Lone Star zone, part of a systematic evaluation designed to map the geometry of mineralization across a portion of the zone, at the company’s wholly owned Klondike District property in the Yukon. Results of the first seven holes, LS18-151 to LS18-157, testing the Lone Star zone in 2018 are disclosed herein.

    A minimum total of $2.5-million has been budgeted for 2018 exploration (please see the company’s March 9, 2018, news release). The company has 2018 exploration plans under way to drill test the Lone Star zone, the Nugget fault zone and the Gold Run target, plus complete comprehensive district-wide mapping, geophysics and soil surveys for the first time. The company is fully financed through 2019 at a similar level of expenditure.

  12. On July 18, 2018 at 6:55 pm,
    CFS says:
  13. On July 19, 2018 at 12:04 am,
    Ozibatla says:

    Yuk, the metals stink!

    • On July 19, 2018 at 12:53 am,
      CFS says:

      bargain prices,,,,summer sale now on.

      • On July 19, 2018 at 1:31 am,
        Excelsior says:

        I’m not sure why investors have amnesia of the Summer Doldrums that we cycle through almost every year (except the outside year of 2016 due to the huge impulse leg higher that marked the end of the bear market from 2011 to Dec of 2015).

        This year is no different. I’ve posted this a number of times, but maybe it would help some to look at the 40 year average for July and then look over at late August going into September.

        ________________________________________________________________

        > Gold 40 year Seasonality Chart from (1976-2015)

        http://www.321gold.com/charts/seasonal_gold.html

    • On July 19, 2018 at 2:08 am,
      Excelsior says:

      Gold & Silver Price Update – Gold Breaks Down

      iGold Advisor – Jul 18, 2018 #TechnicalAnalyis #Video

      https://www.youtube.com/watch?v=4wisaZi7Lrg

  14. On July 19, 2018 at 12:26 am,
    Excelsior says:

    Great Silver chart from a technician over at ceo.ca with the handle “Ty”:
    __________________________________________________________________________

    @Ty – “$SILVER energy point chart”

    http://cdn.ceo.ca/1dkvav1-Screen%20shot%202018-07-18%20at%2011.02.01%20PM.png

  15. On July 19, 2018 at 2:21 am,
    Excelsior says:

    HIVE Blockchain Releases Fourth Quarter and Full Year 2018 Financial Results and Provides Operational Update
    @newswire on July 18, 2018

    – Generated revenues of $13,081,395, with a gross mining margin of $10,139,931, from mining of digital currencies;

    – Mined over 17,000 newly minted Ethereum and 54,000 Ethereum Classic coins during the year ended March 31, 2018, including fourth quarter production of 9,800 Ethereum and 34,000 Ethereum Classic coins representing an increase of 136% and 170%, respectively over third quarter production;

    – Raised gross proceeds of $160 million (C$203 million) of growth capital during the year to finance rapid expansion and future growth opportunities and investments;

    https://ceo.ca/@newswire/hive-blockchain-releases-fourth-quarter-and-full-year

    • On July 19, 2018 at 5:08 am,
      Charles says:

      The chart of HVBTF is starting to look a little interesting. Might have to dip my toe back in. Question for you Excelsior. I am looking for a small cash flowing Aussie miner with exploration upside. Do you have a favorite? Also, I am looking for a low cost royalty/streamer company with a lot of growth potential. It would be great if it had a dividend and cash flow, but if its earlier stage than that I’d be fine with that. I was thinking either OR, EMX or SAND, but open to other lesser know candidates. Thanks in advance for your thoughts! As always I won’t take it as investment advice, but mere names for additional analysis.

      • On July 21, 2018 at 9:06 am,
        Excelsior says:

        Hi Charles – some of the better cashflowing smaller Aussie producers with exploration upside would be companies like St Barbara, Superior Gold, Blackham Resources, Red 5, Aurelia, Crater, Pan Terra, Millenium, AuStar, Centennial, WPG, or Westgold.

        As for a lower cost Royalty/Streamer I personally like Mavarix, EMX, and Metalla the best, but agree that Osisko and Sandstorm are both quality as well (just not as lower cost).

        • On July 21, 2018 at 6:47 pm,
          Charles says:

          Thanks.

          • On July 22, 2018 at 8:37 am,
            Excelsior says:

            Maverix (not Mavarix) 😉

  16. On July 19, 2018 at 2:37 am,
    Excelsior says:

    (WDO) Wesdome Announces Extension of Exploration Ramp at Kiena Deep A Zone Based on Continued High Grade Drilling Results and Expansion of Zone

    @nasdaq on July 17, 2018

    Kiena Deep A Zone

    Hole 6325: 138.0 g/t Au over 13 m core length (16.4 g/t Au cut, 8.1 m true width)
    Hole 6317: 17.8 g/t Au over 10.4 m core length (5.3 g/t Au cut, 10.4 m true width)
    Hole 6326: 37.0 g/t Au over 3.6 m core length (7.0 g/t Au cut, 3.6 m true width)
    Hole 6332: 58.3 g/t Au over 3.8 m core length (12.2 g/t Au cut, 2.4 m true width)

    https://ceo.ca/@nasdaq/wesdome-announces-extension-of-exploration-ramp-at

    • On July 19, 2018 at 2:39 am,
      Excelsior says:

      Wow – those are some great drill holes from Wesdome. It looks like the stock has responded well to their recent production success as well. Very impressive.

      WDO – Wesdome chart:

      http://schrts.co/uu9bZ5

    • On July 19, 2018 at 3:03 am,
      Excelsior says:

      Another smaller Gold Producer like Wesdome that has really done a nice job of a turnaround in their production operations and their exploration success has been K92 Mining.

      This has been one of the better performing stocks in my portfolio in 2018 and one that added to during last year’s tax loss selling opportunity to add on the cheap.

      I’ve been continually impressed with their new exploration hits in the Kora zone and most are not paying attention to how their economics are projected to improve as a result.

      (KNT) K92 Mining:

      http://schrts.co/azJCct

      • On July 19, 2018 at 5:13 am,
        Charles says:

        I have this one on my short list. I know it is a favorite of yours. Been tracking their results for a little while.

    • On July 19, 2018 at 3:07 am,
      Excelsior says:

      Another smaller Aussie Gold Producer that had a pretty good run from the end of last year to end of Spring was Superior Gold. They have pulled back some lately, but their fundamentals still look solid, and when things turn around with PM sentiment, I could see them running much higher. However, they’ve still held onto some of their gains, and have fared much better than many stocks in the sector.

      (SGI) Superior Gold:

      http://schrts.co/tMLvBZ

    • On July 19, 2018 at 3:10 am,
      Excelsior says:

      Next up we have Atlantic Gold that has been a true success story from moving from Developer to Producer in Nova Scotia. It has had a solid year in 2018 despite all the negative sentiment, because they have done good work.

      (AGB) Atlantic Gold:

      http://schrts.co/7FFNpH

  17. On July 19, 2018 at 2:50 am,
    Excelsior says:

    Despite all the recent wailing and whining about the weakness in the PM markets, like always, there are always areas to be invested.

    For example, since the Dec 12th, 2017 there has been a stealth bull in a number of mid-tier producers in the Silver & Gold miners.

    One area, neglected by most investors are the developments in the West African Gold miners. Here are a few Mid-tier Gold Producers in in West Africa doing well since tax loss selling last year.

    $TGZ Teranga Gold:

    http://cdn.ceo.ca/1dkvohr-Teranga%20Gold%20Corp%20-%20TGZ.JPG

    • On July 19, 2018 at 2:50 am,
      Excelsior says:
      • On July 19, 2018 at 2:51 am,
        Excelsior says:
        • On July 19, 2018 at 2:52 am,
          Excelsior says:
          • On July 19, 2018 at 3:09 am,
            Skeeta says:

            Yep,
            Watched the spot price of gold fall today,
            Watched >75% of my Junior ASX listed miners either hold firm or rise in price (couple by over 9%)
            Think they’ve sniffed out a tradeable bottom?
            Lets see.
            Cheers.

          • On July 19, 2018 at 3:17 am,
            Excelsior says:

            Hey Skeeta,

            Hope all is well sir. Yes, it is interesting that when gold was moving up earlier in the year or during a few of the 2017 rallies, that retail investors whined about the stocks not moving up in sympathy, but there were a number that did of course.

            Now with the metals prices receding, one would expect more carnage in the miners, but they aren’t dropping much, and some are still marching higher because they are doing good work and getting re-rated by the market.

            It is funny that those complaining when Gold stocks didn’t gain enough collectively during those metals price runs, aren’t complimenting many of the stocks for holding up better than the metals and showing resiliency. Most people dwell much more on the negative than the positive, so it isn’t that surprising.

          • On July 19, 2018 at 3:41 am,
            Skeeta says:

            Ex,
            Will be interesting to see how they handle further spot price decline presently overnight?
            Its all fun & games.
            Cheers.

    • On July 19, 2018 at 3:12 am,
      Excelsior says:

      $ASO Avesoro Resources:

      http://schrts.co/NpLaAS

    • On July 19, 2018 at 3:37 am,
      Excelsior says:

      Unusual Action in GDX/NUGT Amid A Critical Week For Gold

      by @Goldfinger on July 18, 2018

      https://ceo.ca/@goldfinger/unusual-action-in-gdxnugt-amid-a-critical-week-for-gold

  18. On July 19, 2018 at 3:19 am,
    Excelsior says:

    > Chart of 10 Silver Producers since 2016 bottom in miners.

    (despite the daily diatribes from certain bears, this has not been bear market action)

    http://www.stockcharts.com/freecharts/perf.php?IPT.V,EXN.TO,USAS,SVM,SMT.TO,MYA.V,FSM,CDE,SSRM,HOC.L&n=607&O=011000

  19. On July 19, 2018 at 3:26 am,
    Excelsior says:

    The case for S32 buying the Pegmont Project (VTT)

    by @Pete on July 19, 2018

    https://ceo.ca/@pete/the-case-for-s32-buying-the-pegmont-project

  20. On July 19, 2018 at 4:30 am,
    Ozibatla says:

    Look I agree that one cant get too down on the PMs during the summer doldrums. However I had anticipated that both gold and silver would hold at a higher level as they pushed towards and hopefully held onto multi-year highs as year end approached. I just dont see that happening now. I hope Im wrong, but it seems like another wasted year for the metals.

    And unfortunately they smell abit worse than a few hours ago. There is always time on ones side, its just a matter of how long?

  21. On July 19, 2018 at 6:57 am,
    Bonzo Barzini says:

    Matthew, I sold my ERF. What do you think of VZ? I sold it at 51.10 at the opening today
    and now have more cash for tobacco stocks which are getting killed today. PM is down $5 and MO and BTI are down too. How low do you think MO and BTI could go? They look pretty cheap. CAH is another stock that has been killed and may be nearing a bottom.
    They all look better to me than VZ. Thanks.

    • On July 19, 2018 at 8:36 am,
      Matthew says:

      Bonzo, I agree with you. The tobaccos look better than VZ. The pullback this week looks corrective to me and probably almost over. I do not see the May/June lows being taken out anytime soon but I would trade the stocks until the 30 week MA is pointing up again just in case the downtrend that began a year ago has much further to go. For now, I think you’ll have 2-3 months of higher prices.

      • On July 19, 2018 at 8:41 am,
        Matthew says:

        I like BTI more than MO.

      • On July 19, 2018 at 8:49 am,
        Bonzo Barzini says:

        Thanks, Matthew. I wish I’d bought BTI @49.12 this morning as it is now back to 50.14.
        But I’m glad I sold the VZ@51.1 I also like BTI more than MO. Doc likes IMBBY

        • On July 19, 2018 at 9:14 am,
          Matthew says:

          BTI is a much better value but IMBBY peaked over a year earlier so the monthly chart looks a little friendlier. However, it remains true that the fundamentals make the charts so if the sector turns up, BTI’s monthly chart will likely not be a limiting factor. In other words, it doesn’t “need” to trace IMBBY’s path and remain a year behind in that process.

          • On July 19, 2018 at 10:49 am,
            Bonzo Barzini says:

            THANKS. PEOPLE ARE WORRIED THAT JUULS INHALERS WILL TAKE OVER THE TOBACCO BUSINESS. MAYBE BTI OR MO SHOULD BUY JUULS.

  22. On July 19, 2018 at 9:00 am,
    Paul L. says:

    I am still waiting for a good drop in oil to get back in. I had a target of 62 before but it bounced up before that. I hope we can get to the 58 to 62 area which could bring XOP close to the 200 day average where it has not been for many months.

  23. On July 19, 2018 at 10:19 am,
    Charles says:

    Seabridge Gold (Ticker: SA) is on the move today and seems to be gaining momentum. Same with McEwen Mining (MUX) although not quite as far along in the basing process.

    • On July 19, 2018 at 10:25 am,
      Matthew says:

      Wow, it’s up 7.5% this week — 9% vs gold…

      http://schrts.co/schdT1

  24. On July 19, 2018 at 10:55 am,
    Charles says:

    I think Seabridge was one of the early movers in late 2015 so I have been following closely to see if it leads the next leg. Hopefully a positive sign and maybe one more indication we are getting close.

  25. On July 19, 2018 at 11:35 am,
    Charles says:

    Matthew – Would you mind taking another look at TRCH? It has been a falling knife the last 10 days. I was hoping it would hold support in the 1.25 region, but it has broken down below that and did hit the lower bollenger band on the weekly chart. It bounced off of 1.05 and I am thinking it might double bottom at that level to form the right shoulder of a large head and shoulder pattern that goes back to October of last year. I also have a false break out above a wedge that began forming at the high last June and the low from last August with most recent drop falling back into the wedge and testing the lower rail of that wedge. I could see the possibility of it falling to test the initial low of that wedge around 0.95 or maybe slightly lower to shake out bulls. I don’t mind if it goes down there as I have been buying the dips for two years and have taken partial profits along the way. Any thoughts you might have would be appreciated.

    • On July 19, 2018 at 11:53 am,
      Matthew says:

      Important support held on a heavy volume test and it looks cyclically close to turning up — at least for the short term.
      http://schrts.co/YDKvU1

    • On July 19, 2018 at 11:59 am,
      Matthew says:

      If it drops below 1.05 for a couple of days, I’d consider stepping aside…

      http://schrts.co/5PpJuF

  26. On July 19, 2018 at 12:00 pm,
    Charles says:

    Cool. Thanks.