Weekend Show – Sat 17 Nov, 2018

Hour 1 – Generalist Investors You Should Be Listening To

Click download link to listen on this device: Download Show

This week I bring on a all-star line up of generalist investors. The focus is on the sectors to avoid and where the opportunities are. There is a lot of fear in the markets, rightfully so, but there are areas that have been warning us of this recent pullback. If you have any follow up questions for the guests or would like to see anyone else on the show please email me at Fleck@kereport.com.

A very happy Thanksgiving this week to everyone in the US. I hope you have a great couple of days off and get to spend some time with those you love.

  • Segment 1 & 2: I spend the first two segments with Jesse Felder, Founder of The Felder Report. In the first segment we discuss the equity market breakdown and shift away from passive investing. In the second segment Jesse shares why he is looking at the precious metals sector as an attractive investment.
  • Segment 3: Chris Martenson, Co-Founder of Peak Prosperity focuses on the energy markets and breakdown in oil.
  • Segment 4: We wrap up the first hour with Michael Belkin, Founder of the Belkin Report. It has been a while since Michael was on the show so we recap his thoughts on the sectors to short and where to go long.
    • To learn more about the Belkin Report and for trial subscriptions please contact Marc B Mishkin at: +01 646 435 4440 or emailmarcb@hyperpyron.com


Segment 1 & 2

Click download link to listen on this device: Download Show

Segment 3

Click download link to listen on this device: Download Show

Segment 4

Click download link to listen on this device: Download Show

Jesse FelderChris MartensonMichael BelkinCory Fleck
View related posts on: , ,

  1. On November 17, 2018 at 4:40 am,
    CFS says:

    Thanks Guys. Hi Skeeta.

    • On November 17, 2018 at 7:27 am,
      Excelsior says:

      Big Ups to the KER Crew – Thanks Cory, Big Al, and all the KER Contributors!

      • On November 17, 2018 at 10:17 am,
        Skeeta says:

        Thanks as always for your efforts putting the show together guys.
        Much appreciated.

      • On November 17, 2018 at 7:52 pm,
        Excelsior says:

        Cory – It was nice to hear Michael Belkin back on the KER again.

        Good interview!

        • On November 19, 2018 at 6:21 am,
          Charles says:

          Agreed. thanks for the great panel Cory. You always do a great job bring guests on the show that are relevant for the current market conditions.

  2. On November 17, 2018 at 8:07 am,
    Andrew de Berry says:

    Although I’m now locked into bullion and bullion stocks and to following the political scene more than KER, guys you deserve more hits than you seem to be getting. Perhaps Cory a lot of us are simply worn to a frazzle by everything right now. Brexit is doing a lot of our heads in over here in the UK! Anyway I hope you’re not discouraged as you continue to pursue some extremely important research. Thus renewed thanks to you and the team for all that you do. Andrew

    • On November 17, 2018 at 9:02 am,
      OOTB Jerry says:

      Ditto Andy…….glad hear from you……..

      • On November 17, 2018 at 1:23 pm,
        Andrew de Berry says:

        Cheers Jerry. I trust all is well with you and yours. A

        • On November 17, 2018 at 4:10 pm,
          OOTB Jerry says:

          Thanks …Andy……..All is well……

  3. On November 17, 2018 at 8:48 am,
    Excelsior says:

    Ira Epstein’s Metals Video (11/16/2018)

    Technical Analysis, Gold, Silver, Copper, Platinum


  4. On November 17, 2018 at 8:52 am,
    Excelsior says:

    More Bull Market to Come #4094

    Avi Gilburt – FSN GoldandSilver – Oct 30, 2018

    “Avi Gilburt is an Elliott Wave theorist and practitioner. He says the signals are very clear, another upward wave is coming in the stock market, once the current correction has concluded. That’s big news for investors who are fearful that this downward move is the big one. He believes that the eventual mother of all bear markets will visit upon us in the 2020’s. And we’re very content to wait. Gold probably has another leg down, at least if it doesn’t break last week’s high. Oil is going down. Dollar is headed towards the 80’s range. No opinion on real estate. Interesting views that clearly go against the mainstream. As Avi says, “Each market must be looked at individually.”


    • On November 17, 2018 at 5:19 pm,
      Ozibatla says:

      I dont mind Avi. I think he does some good work. A little cocky maybe but he has made some good calls

      • On November 17, 2018 at 6:11 pm,
        Excelsior says:


        • On November 17, 2018 at 6:40 pm,
          Ozibatla says:

          Rambus is another guy with good chat analysis that is always worth a look.

          • On November 17, 2018 at 9:01 pm,
            Excelsior says:

            Yes, I enjoy reviewing his technical analysis as well.

  5. On November 17, 2018 at 10:37 am,
    Matthew says:

    The Dow is a monthly chart “sell”…

  6. On November 17, 2018 at 11:17 am,
    Silverdollar says:

    Once again you’ve put together a great listen, Cory. As expressed a couple times, Jesse and Chris are top of the line; two of my favorite listens. Michael is interesting but from a small investor category, not as helpful for my strategy. Example: Shorting Amazon. Out of my league.
    Still, listening to all three we can distill some generalities concerning the finances of this country and the rest of the developed world. We’re all in deep do do. Only remaining question is how bad will it really get??? Thanks again.

  7. On November 17, 2018 at 11:30 am,
    Matthew says:

    At the start of the last gold sector bull market almost 20 years ago, gold bottomed more than 2 years ahead of the silver-gold ratio. We have the same situation this time…

  8. On November 17, 2018 at 11:48 am,
    Matthew says:

    TIP: It’s rally time for gold…

  9. On November 17, 2018 at 12:03 pm,
    Excelsior says:

    World Gold Council announces update to AISC guidance

    MINING.com Editor | a day ago |

    “In light of new accounting standards and to support further consistency of application, we have included incremental enhancements in the Guidance Note, as well as provided a set of FAQs. We believe this will be of benefit to investors and other stakeholders,” Heymann said.

    “The use of the “all-in sustaining costs” and “all-in costs” metrics has been widely adopted by gold mining companies as part of their overall reporting disclosure. These non-GAAP metrics have helped provide greater clarity and improve investor understanding. All companies involved in gold-mining are encouraged to use these metrics.”


    • On November 18, 2018 at 10:00 am,
      Excelsior says:

      Gwen Preston | Generalist Investors Will Soon Search for Value That They Will Find in Mining Stocks

      MiningStockEducation – Nov 18, 2018 #AudioInterview

      0:05 Introduction
      1:40 Gwen’s background and the genesis of her resource investing newsletter
      4:46 Overcoming the initial learning curve of beginning as a resource investor
      8:00 How closely does Gwen’s personal investment portfolio resemble her newsletter recommendations?
      9:17 How Gwen’s portfolio is currently apportioned among the various commodities
      11:57 Gwen’s fundamental thesis on why mining stocks and commodities will soon be rising in price
      14:41 Gwen’s top commodity for 2019
      17:48 Navigating current risks as mining investors
      22:56 Gwen’s thoughts on the 2018 tax-loss selling season
      25:07 Would Gwen invest in an explorer that has bloated share structure if there are other positive qualities about that exploration company?
      29:01 Is it better for an exploration company CEO to have a geological background or a financial background?
      30:56 Up-and-coming mining jurisdictions that western mining investors should pay attention to
      34:01 How Gwen has used legal, non-insider information to capture nice, short-term profits


      • On November 19, 2018 at 12:50 am,
        Excelsior says:

        500th issue for Exploration Insights.

        > That’s impressive and congrats to Brent Cook and Joe Mazumdar.


        Issue No. 500 – November 18, 2018

        It is the 500th edition of our weekly newsletter and we thank our subscribers for their patronage. A significant M&A transaction triggered by the capitulation of a management team operating a high-grade silver mine in Guatemala was the highlight of the week in the mining sector. Drilling and exploration updates from a copper-gold explorer in Peru and a zinc explorer in the Yukon. Prospect generator seeking partners for Ni-Co-Cu project in Brazil. Site visit notes to prospect generator’s precious metal assets in Argentina and update from JV on a precious metal prospect in northern Chile.


  10. On November 17, 2018 at 12:12 pm,
    Excelsior says:

    OceanaGold to acquire gold/silver project in Nevada

    MINING.com Staff | a day ago

    “OceanaGold (TSE: OGC) is interested in buying Bravada Gold Corporation’s (TSXV: BVA) low-sulfidation Highland gold/silver project, located within the Walker Lane Gold trend in western Nevada, USA.”


    • On November 18, 2018 at 8:37 am,
      Excelsior says:

      (SIC) Sokoman Iron Cuts 24.90 m of 33.56 G/t Au at Eastern Trend, Moosehead Project, NL

      by @newsfile on November 16, 2018


      • On November 18, 2018 at 8:52 am,
        Excelsior says:

        (BAR)(BALMF)Balmoral Resources Exploration Update
        Nov. 15, 2018

        Identifies Multiple Sulphide Zones and BHEM Anomalies within the Grasset Ultramafic Complex. Drilling continues with two drills still active on Balmoral’s Grasset and Fenelon properties in Quebec targeting #nickel #copper #cobalt #platinum #palladium mineralization within the Grasset Ultramafic Complex

        > On the Detour East property Balmoral announced that it has identified the extension of the Vortex #Gold Zone discovered by the $MD Midland Exploration Inc./Soquem Inc. joint venture on the adjacent Casault property.

        The sale of the 1% NSR #royalty held by the Company on the Fenelon Mine Property in Quebec, announced on October 10, 2018, has been completed. The Company received a cash payment of $500,000 as well as 1,000,000 common shares of $ELY Ely Gold Royalties Inc. and common share purchase warrants

        > Balmoral has been advised by the operator of the Northshore property joint venture, GTA Resources and Mining Ltd. $GTA that a 1,000+ metre diamond drill program is set to commence on the Northshore property located near Schreiber, Ontario

        > The AEM survey of the recently acquired Gargoyle and Goblin #nickel properties in Ontario is due to commence on or about November 12, 2018.


        • On November 18, 2018 at 9:54 am,
          Excelsior says:

          (SBB) (SGSVF) Sabina Gold & Silver Receives Type A Water License from Nunavut Water Board

          by @nasdaq on November 15, 2018

          “On September 21, 2018, the Company received a copy of the NWB’s recommendation to the Minister of Intergovernmental Affairs, Northern Affairs and Internal Trade, the responsible Federal Minister), that the Project’s Type A Water License should be issued with proposed terms and conditions. On November 14, 2018, Sabina received confirmation that the Minister has approved the Type A water license with no changes to the terms and conditions.”

          “Receipt of the Type A Water License represents a key step in the environmental permitting process and will enable activities at site including mine construction and operations and sets the closure bonding amounts for the project moving forward. ”


          • On November 18, 2018 at 9:57 am,
            Excelsior says:

            Rick Rule Investing ‘Know-Who’ with Bruce McLeod

            Sprott Media – Nov 14, 2018

            “Rick Rule, CEO of Sprott US Holdings Inc., sits down with Bruce McLeod, President and CEO of (SBB) Sabina Gold & Silver Corp., to consider the valuable life lessons that strengthen resolve and build character. Bruce McLeod discusses his family heritage in the mining industry and regular dinner time conversations of “Rock and Stocks.” McLeod recalls his years working his way up the career ladder and discovering personal strengths that contributed to business success.”


          • On November 18, 2018 at 10:59 am,
            Dick Tracy says:

            Interesting posts Ex, thanks for your insights and your willingness to share with others. DT

          • On November 18, 2018 at 11:21 am,
            Dick Tracy says:

            I’ve been looking with new eyes at some of the exploration results coming out of Newfoundland. Sokoman Iron recently drilled 24.9m. of 33.56 G/T AU. A number of other juniors are reporting positive results, it could be the discovery of a substantial new gold zone on the east coast. DT

          • On November 18, 2018 at 11:57 am,
            Excelsior says:

            Yeah, Sokoman had a big gold hit earlier in the year, and then the shares spiked up and crashed back down, but now has surged higher on this follow up drill success. Exploration is the only exciting game in town at present, but it has a been a mad rush into some of these like Great Bear or Westhaven but then a mad rush back out like RNX – Royal Nickel Corp RNC, or Golden Ridge, or Novo Resources (who had a nice surge up on Friday), or Garibaldi, etc…

            I also like some of these dormant and ignored development stage companies here like Sabina or Falco or Treaury Metals or Pure Gold or Minera Alamos as well, because they are more likely to get nabbed in a takeover by one of the big boys.

          • On November 18, 2018 at 11:57 am,
            Excelsior says:

            Thanks DT. Always glad to toss around a few ideas to mull over on the Jr miners, and I appreciate your thoughts as well.

          • On November 18, 2018 at 3:36 pm,
            Excelsior says:

            Other companies that had pop-n-drops from last year or earlier this year were Juggernaut Exploration, Adamera Minerals, Aston Bay, Aben Resources, Jaxon Mining, Newrange Gold, Serengeti, and Triumph Gold.

            It is interesting to watch the speculative herds rush into and out of these exploration drill plays.

  11. On November 18, 2018 at 8:34 am,
    Excelsior says:

    (ZNX) (CZXMF) ZincX Resources Announces Final 2018 Drill Results Including New Results from the Sitka Zone

    by @accesswire on November 16, 2018

    Peeyush Varshney commented “The North Lead results are similar to what we have seen from this zone and we are encouraged by thick sequences of distal mineralization that conform to our geological model for the Cardiac Creek deposit. We anticipate additional drilling to the NW will direct us to higher-grade zinc intersections. The SE zone drilling confirms the extensive Cardiac Creek Mineral Horizon is present and has now been mapped by drill intercept over a strike extent of greater than 7 kilometers. This gives encouragement that the Cardiac Creek style high-grade Zinc mineralization that we know from the deposit remains to be discovered along strike. We look forward to analyzing this year’s results and incorporating them into our exploration plans for 2019.”


  12. On November 18, 2018 at 8:41 am,
    Matthew says:

    The outlook for the yen is friendly to gold in the immediate/short term…

  13. On November 18, 2018 at 9:34 am,
    Matthew says:

    The dollar ran into important resistance last week:

  14. On November 18, 2018 at 11:27 am,
    Bonzo Barzini says:

    Thanks for a great show, Cory. Glad to hear that Belkin likes value stocks now, and I don’t see anything more undervalued now than gold and silver and tobacco stocks.
    Hope you’ll have Belkin and Trader Vic every month. Thanks.

  15. On November 18, 2018 at 11:51 am,
    Excelsior says:

    Just came across this Rick Ackerman interview on Howe Street from late October.

    It was good hearing him review the macro picture in the general stock markets, taxes, gold, the dollar, oil, cryptocurrencies, and more….


    More Than Just a Market Correction?

    Rick Ackerman – October 31, 2018 #AudioInterview


  16. On November 18, 2018 at 3:45 pm,
    Matthew says:

    IPT is down 29% ytd but up significantly versus peers like USA (78%) and AXR (52%).
    I still prefer IPT…

    • On November 18, 2018 at 3:49 pm,
      Matthew says:
    • On November 18, 2018 at 3:55 pm,
      Matthew says:

      The .305 level is an important one…

    • On November 18, 2018 at 10:43 pm,
      Excelsior says:

      I expect all 3 (IPT, USA, AXU) to do well once we have a bit stronger metal prices.

      • On November 18, 2018 at 10:53 pm,
        Excelsior says:

        USA / USAS will likely continue trading more like a base metals company for another year or so until we have Silver at $20, and then they’ll kick on more of the higher grade Silver stopes they are sitting on in Idaho & Mexico and kick on the Copper concentrates, and then they’ll produce less Zinc/Lead. I do believe Americas Silver has been beat up a bit more than warranted, and once they put out their numbers for Q4 in Feb of next year it will show some improvement, but more importantly their Q1 number will post in May, and that should really wake the markets up next year.

        As for AXU / AXR – They are getting close to announcing their production decision, so that should light a spark under their stock, as many have thrown in the towel on Alexco ever getting their operation back into production, but when they show they are ready to move forward, then I’d anticipate more and more funds and investors to start wading back in. Granted at $14 Silver, there is no rush, as they’d like to see $16-$18 for the margins they make to be worth the candle. Their AISC is targeted at $9.50-$10.50, but they likely need $14 (in reality) to break even, so there isn’t an incentive to go into production at these current metal prices. Each $1 multiplier higher helps out the economics greatly though.

        • On November 18, 2018 at 11:03 pm,
          Excelsior says:

          I should have worded that differently at the end there regarding Alexco. I believe they can announce going into production at $14 Silver, because the ramp up will take a while, but their mill is built, and the inclines are mostly in place at Flame & Moth and Bermingham. Nothing ever goes quite according to plan when a mine goes into production, so I’d rather see them get all that out of the way during this weak period, and then scale up into rising metals prices in 2019, but we’ll see how it goes.

          I’m also very interested in how their neighbor – MMG Metallic Minerals does in their exploration program over the next year, as they may be able to put together Alexco 2.0.

        • On November 18, 2018 at 11:19 pm,
          Excelsior says:

          The other wildcard for USAS will be how the gold acquisition of Pershing Gold, changes the dynamic a year from now. Their mining costs will continue to come down over the next 2 quarters, but it remains to be seen how much capital they’ll need to pour into the Pershing assets to get them into production, so they won’t show much progress on the balance sheets until all of that has played through.

          I’m also still keenly interested to see what they do with San Felipe (that they peeled off of Santacruz Silver last year for a song & a dance). That is a large development project with good economics that they are getting little valuation credit for at present, but that will change over time (and it is a nice upside kicker for 2 years out).

          Ultimately Americas Silver be producing more Silver and some Gold by this time next next year, and with the Silver will be an increase in Copper, and of course they’ll still have robust Zinc & Lead credits for some time, but those will fall back as the Silver production increases when the price is right.

          • On November 18, 2018 at 11:33 pm,
            Excelsior says:

            Speaking of (SCZ) Santacruz Silver, they’ve done a good job over the last 2 years of getting their house in order, and divested 3 different projects to Americas Silver, Marlin Gold, and First Majestic to get the debt monkey off their back. They’ve worked on optimizing throughput and metal recovery rates on their remaining 2 mines, but at $14 Silver they are still under pressure. If they can emerge from this going into next year with Silver prices back up to $18-$20, I believe they are poised for very nice upside leverage to rising metals prices.

            However, the risk is that if metals stay lower for longer they may run into challenges, and my biggest worry is that some larger producer may pick them off while they’re weak and steal all the upside percentage gains. I’ve got a nice position in Santacruz building, and I’m likely going to add more during mid-December at the close of tax loss selling, and right before the FED rate hikes (anticipating a move higher in the metals post hike, and into Jan & Feb when money comes back into positions — just like the last few years).

        • On November 18, 2018 at 11:40 pm,
          Excelsior says:

          (EXN) Excellon Resources, got pistol-whipped the last few months, and put out a real stinker of a quarterly production report and missed guidance due to surveying issues, that were isolated to that quarter.

          Of course, adding fuel to the downward slide were some negative nancy newsletter writers and retail blog conspiracies that secretly is was that the water issues never went away. Again, Excellon has dried out that mine in a big way over the last 2 years, but yes, they are still pumping it down further and further, and ultimately need higher metals prices as well if they are going to continue pumping out such a huge quantity of water. However, the market has over-reacted to their misfire last quarter, and if they actually read the last few news releases, those issues won’t be there this quarter (but now there are lower metals prices to rub salt in the wound). However, I’m very constructive on their Q1, Q2, Q3, Q4 of 2019 production metrics & economics to be much better than in 2018, and that increase in margins next year should keep them quite peppy to the upside if metals prices finally rally again.

          • On November 18, 2018 at 11:51 pm,
            Excelsior says:

            Another newer Jr Silver producer that I have big upside projections for is (BHS) Bayhorse Silver, operating in Oregon and Idaho.

            Graeme O’Neill and team are using Ore Sorting and Dense Media Separation to upgrade their ore prior to processing and using that to increase the grades. It is very innovative and could be a model that many miners could adopt to haul less rock, reduce waste, and improve economics.

            Anyhow – I see Bayhorse as a “dark horse” in the Jr mining, that may ride onto the scene in a year or two and surprise the hell out of everyone.

            If anyone looks over what BHS has accomplished in a tough year of 2018 it is impressive:


          • On November 19, 2018 at 12:02 am,
            Excelsior says:

            While I’m thinking of Silver miners, I’d also mention (ASM) Avino Silver & Gold for a precious metals miner that may surprise to the upside in 2019.

            ASM has had a few ho-hum quarters, but just got done increasing their milling capacity, and they are being ignored for what they are working on regarding their Gold project Bralorne in Canada.

            Looking forward to seeing the #Silver & #Copper production results over the next few quarters now that the 4th mill circuit expansion is complete, and would like to see them put their old tailings into production in the not so distant future.

            Bralorne could be a real game changer and has been ignored by most Canadian Gold mining enthusiasts, but it was a substantial mine in the past, and there may be a lot of resource left in the gap between the old mines.

            Here is a great piece that James Kwantes put out recently on his site visit to Avino:


            Avino: Silver mining in Mexico, gold exploration in B.C.

            by @JamesKwantes on November 13, 2018


          • On November 19, 2018 at 12:17 am,
            Excelsior says:

            (EXN) Endeavour Silver is also a company that has a few catalysts for a solid 2019. Their production metrics are improving now, but they had a few quarterly releases in 2017 and 2018 that disappointed the markets, but some where weather and power related (that won’t happen so severely moving forward), some challengers were with equipment & mining methods, and those have been corrected.

            Also El Compas, their new mine, had startup tweaks that were needed (no surprise there, as it happens on almost most mines as they start production). Now the mine is coming back online after being halted and the improvements made should allow it’s production to start to contribute to revenues moving forward.


            October 11, 2018


    • On November 18, 2018 at 11:26 pm,
      Excelsior says:

      (SVM) Silvercorp is still making money at current prices and is the lowest cost Silver equivalent ounce producer due to their large Zinc & Lead co-credits. I expect them to still keep blazing on as well, and if the metals prices move up for Silver, or Zinc & Lead, then I could see them just taking over (NUAG) New Pacific Metals.


      • On November 18, 2018 at 11:27 pm,
        Excelsior says:

        (SVM) Silvercorp Reports Q2 Net Income of $8.0 Million, $0.05 Per Share, and Cash Flow from Operations of $21.0 Million

        November 7, 2018


        – Sales of $48.1 million, up 1% compared to $47.5 million in the prior year quarter;
        Sold approximately 1.9 million ounces of silver, 1,000 ounces of gold, and 19.4 million pounds of lead, up by 17%, 25%, and 15%, respectively, compared to 1.6 million ounces of silver, 800 ounces of gold, 16.9 million pounds of lead in the prior year quarter while zinc sold was 4.9 million pounds, down 12% compared to 5.6 million pounds in the prior year quarter. The ending inventories of silver-lead concentrate were 3,732 tonnes (containing approximately 0.4 million ounces of silver and 4.3 million pounds of lead), a decrease of 34%, compared to 5,650 tonnes of silver-lead concentrate inventories as at June 30, 2018;

        -Gross profit margin of 47% compared to 54% in the prior year quarter, with the decrease mainly due to lower metal prices;

        – Net income attributable to equity shareholders of $8.0 million, or $0.05 per share, compared to net income attributable to equity shareholders of $11.1 million, or $0.07 per share in the prior year quarter;

        – Cash flow from operations of $21.0 million, up 1% compared to $20.7 million in the prior year quarter;

        – Cash cost per ounce of silver, net of by-product credits, of negative $3.37, compared to negative $5.16 in the prior year quarter; All-in sustaining cost per ounce of silver1, net of by-product credits, of $2.54, compared to $2.26 in the prior year quarter;

        – Paid $1.1 million withholding tax at 10% rate for dividend distributed out of China to the Company, compared to $nil in the prior year quarter; and,

        – Ended the quarter with $123.9 million in cash and cash equivalents and short-term investments, an increase of $9.1 million or 8% compared to $114.8 million as at June 30, 2018.


  17. On November 18, 2018 at 5:39 pm,
    Bill in Tokyo says:

    Love Belkin. Smart man. Thanks Cory.

  18. On November 18, 2018 at 6:01 pm,
    Markedtofuture says:

    Bitcoin Ben And I Had An Intense Briefing

    This is more of a promo for Bitcoin Ben than actual details of our briefing. Although this report does contain some encouraging news about Bitcoin and Litecoin.


  19. On November 18, 2018 at 6:11 pm,
    Markedtofuture says:

    BIG PICTURE. Insider Quote “This is bigger than anyone can imagine!”


  20. On November 18, 2018 at 6:27 pm,
    Matthew says:

    SSRM is up 25% YTD and ready to go higher…

    • On November 18, 2018 at 7:46 pm,
      Bonzo Barzini says:

      That’s nice to hear, Matthew, as I own SSRM@8. Bought more BTI@34.6 on Fri yielding 7.5%
      How much lower do you think it will go?

      • On November 18, 2018 at 8:23 pm,
        Matthew says:

        The Point and Figure chart price objective is $29 but there’s some support at the 31.50 area. $27.67 marks the 61.8% Fibonacci retracement of the move from the 2000 low to the 2017 high. If that doesn’t hold, it will be at 25 very quickly (the 2007/2008 high).
        I can’t say where it will ultimately go but it is oversold on the weekly and even monthly charts so it could have an impressive bounce before it is done falling. It would now have to rise 40% just to get back to the 30 week moving average.

        • On November 19, 2018 at 7:00 am,
          Bonzo Barzini says:

          Thanks, Matthew. When BTI falls to 25 it will be yielding 10% and I’ll have to load up the truck. I don’t think the dividend is in danger even if menthol is banned in 2 years.

      • On November 18, 2018 at 9:04 pm,
        Matthew says:

        By the way, the P&F price objective for SSRM is 17 and I think it will get there easily. So it will probably be one of the first miners to exceed its 2016 high.

  21. On November 19, 2018 at 2:49 am,
    Excelsior says:

    Uranium Series Part 10 – Joshua Hall – Uranium and Vanadium Demand Will Only Keep Growing

    by @PalisadeRadio on November 17, 2018

    “Joshua Hall ChFC is an independent Registered Investment Advisor. Before starting True Vine Investments in 2010, he worked for JP Morgan Asset Management for ten years. For the past several years he has been the Vice President and On-boarding Manager for the Global Liquidity business. You will also find his mining commentary on Seeking Alpha.”

    “The new Vanadium-Steel rebar rules from China provide even more demand for Vanadium going forward. Joshua Hall tells us what might happen next.”


    • On November 19, 2018 at 2:56 am,
      Excelsior says:



      Rob Crayfourd & Keith Watson:

      “They discuss how the uranium market appears to be consistently tightening as reactors are continuing to be built. There are 58 reactors under construction and far more being planned. Much of this is driven by China who seeks to reduce pollution. It’s the second cheapest power production method and the most environmentally friendly concerning carbon emissions. India has a similar story but not on the same scale.”

      “Japan has nine reactors back in operation with a further six approved for restarts with a number under review. There is some difficulty in knowing the full-time line for reactor restarts. The court system in Japan has approved some restarts. Twenty additional reactors will have to come online in the next few years to meet their government’s goals. European nations will likely have a hard time scaling back nuclear without compromising their environmental emission goals. It’s pretty easy to make a bullish case for nuclear overall.”