Weekend Show – Sat 23 Feb, 2019

Hour 1 – The Truth About The Recent Strength In The Gold Market

As volatility has slowed in the past few weeks this week was another slow climb in a wide range of sectors. The Fed minutes were released but were very much a non event for market moves. Overall the US markets continued their slow climb, gold held strong, and the USD drifted lower. In the first hour we take a close look at US markets and the Fed statement then move to the factors behind the rise in precious metals.

Please keep in touch by emailing me at Fleck@kereport.com. I love to hear about all the companies and guests you would like to hear from.

  • Segment 1 – Chris Temple kicks off the show with the reason why he thinks the US markets are continuing move higher. It’s all about the central banks.
  • Segment 2 – Mike Larson, Editor of The Safe Money Report looks at the sectors that are rising within the markets. It’s a very different make up of stocks that are outperforming.
  • Segment 3 – Jordan Roy-Byrne, Founder of The Daily Gold shares the changes in the charts that are pointing to a much more bullish scenario for the precious metals.
  • Segment 4 – Jayant Bhandari wraps up the show with thoughts on the potentially hostile bid by Barrick for Newmont and some junior stocks that he is investing in.

Exclusive Company Interviews This Week


Chris Temple
Mike Larson
Jordan Roy-Byrne
Jayant Bhandari

Comments:
  1. On February 23, 2019 at 3:31 am,
    Bonzo Barzini says:

    I’ll be happy to swap each of my NEM shares for 4 shares of Barrick. How about you guys?
    Barrick hs already bought Homestake, Placer Dome, and Randgold. Might as well buy NEM too.

  2. On February 23, 2019 at 7:05 am,
    David says:

    Are we seeing the same thing in the Barrick moves that we have seen in the banks such as JP Morgan, Goldman etc. Concentration of power and wealth. At one time, no one would touc Barrick because of the association with the Carlyle Group… who in turn was associated with the Bankers and US wealth. I might be wrong but the new Barrick CEO is from Goldman. It might be better now to consider Barrick actions as a Red Flag leading to transfer of wealth extending to the intentionally depressed mining industry rather than a benevolent benefactor. Intervention in mining by money interests is maybe a bad thing when the money is coming from a branch of Wall Street that has been running a massive fraud operation on the people and threatened its sovereignty.

    • On February 23, 2019 at 7:32 am,
      Matthew says:

      Jim Sinclair said many years ago that Barrick would own everything and I didn’t doubt him due the company’s associations. Now it’s happening: the sector is getting Barricked by Barrick.
      According to Antal Fekete, Barrick means “f*ck-shit” in Hungarian. The following is from 2006:
      To Barrick or to be Barricked, That is the Question
      http://www.321gold.com/editorials/fekete/fekete081106.html

    • On February 23, 2019 at 7:49 am,
      Matthew says:

      Speaking of Fekete, here’s a very interesting piece about the silver market — which I think he is right about:
      http://professorfekete.com/articles/AEFTheLastContangoInWashington.pdf

      • On February 23, 2019 at 11:23 am,
        Excelsior says:

        Northstar – Twitter feed

        “Silver is at a hugely important point right here. The outcome of this bull/bear battle is likely to determine the direction of the silver market for a long time to come #GOLD #Silver #PMS”

        (see the attached chart)

        https://twitter.com/Northst18363337/status/1098568890731376641

        • On February 23, 2019 at 11:27 am,
          Excelsior says:

          Pan American Silver completes $1B-buyout of Tahoe Resources

          MINING.com Staff | a day ago

          “The completion of the arrangement establishes the world’s premier silver mining company with an industry-leading portfolio of assets, a robust growth profile and attractive operating margins. We are also now the largest publicly traded silver mining company by free float, offering silver mining investors enhanced scale and liquidity,” Michael Steinmann, President and Chief Executive Officer of Pan American Silver, said in a media statement.”

          http://www.mining.com/pan-american-silver-completes-1b-buyout-tahoe-resources/

          • On February 23, 2019 at 11:36 am,
            Excelsior says:

            (AG) (FR) First Majestic Silver At The Verge Of A Giant Breakout

            Taki Tsaklanos 2 days ago

            https://investinghaven.com/commodities-gold/first-majestic-silver-giant-breakout/

          • On February 23, 2019 at 11:38 am,
            Excelsior says:

            While most miners are blowing out more shares and getting bloated, diluting down existing shareholders, (SVM) is doing the opposite and buying back shares reducing the float and adding shareholder value. The stock has woken up lately as a result.(SVM) Silvercorp Announces Share Repurchase Program

            by @nasdaq on February 20, 2019

            https://ceo.ca/@nasdaq/silvercorp-announces-share-repurchase-program

          • On February 23, 2019 at 11:39 am,
            Excelsior says:

            (SVM) Silvercorp Reports Q3 Net Income of $8.7 Million, $0.05 per Share, and Provides Fiscal 2020 Production and Cash Costs Guidance
            February 14, 2019

            http://silvercorpmetals.com/news_and_media/news/index.php?content_id=753

          • On February 23, 2019 at 9:57 pm,
            Excelsior says:

            Fred Davidson, IMPACT Silver (IPT) (ISVLF) #NewtonInterviews

            by @Newton on February 22, 2019

            > Fred Davidson: “Again, I emphasize that it’s unclear if the porphyry is there. We’re certainly seeing smells of it. As we go to depths on our veins, we go from very high-grade silver on surface — and that’s not secondary enrichment, that’s basically sulphides — where you get a kilo or two kilos at surface then maybe 250-300 meters at depth the silver falls off and we get into lead-zinc. Once we get beyond that, there’s sort of a dead area with lower grade and then we get into this gold and gold-copper range. What’s making it interesting is that we’ve seen that in underground mining, but this particular canyon exposes the opportunity to get down 250-350 meters. At surface, we’re seeing the gold and copper that we see at depth underground. It’s a very interesting area. There’s so much exploration potential. We have tested, maybe, 10% of the entire area we have.”

            https://ceo.ca/@newton/fred-davidson-impact-silver-ipt-newtoninterviews

          • On February 24, 2019 at 3:08 am,
            Excelsior says:

            (BHS) (KXPLF) Bayhorse Pours First Refined .9999 Fine Silver Bar From Bayhorse Silver Mine Mineralization, Oregon, USA

            Feb 23, 2019 – BHS2019

            Mineralization, Oregon, USA
            Bayhorse Pours First Refined .9999 Fine Silver Bar From Bayhorse Silver Mine Mineralization, Oregon, USA
            Posted on Feb 23, 2019 in News Release
            BHS2019-05 February 23, 2019

            “Bayhorse Silver Inc., TSX-V: BHS is pleased to report that Mineral Solutions LLC, of Coeur d Alene Idaho, has produced the first refined silver from the high grade silver mineralization shipped to them for processing from the Bayhorse Silver Mine, Oregon, USA.”

            http://www.bayhorsesilver.com/bayhorse-pours-first-refined-9999-fine-silver-bar-from-bayhorse-silver-mine-mineralization-oregon-usa/

          • On February 24, 2019 at 3:13 am,
            Excelsior says:

            First Silver Pour For Bayhorse Silver (BHS) (KXPLF)

            Feb. 23, 2019 – Jay Currie – Seeking Alpha

            “What is particularly interesting about this milestone event is that the entire mine including an ore sorter and the crushing capacity is in place. Plus, the silver is being extracted using a proprietary, non-smelting process developed by Coeur d Alene Idaho based Mineral Solutions. All of this means that Bayhorse has the capacity to ramp up production quickly and cost effectively.”

            “Graeme O’Neill, CEO of Bayhorse, has been adamant from the beginning of the process of bringing the old Bayhorse mine into production that the mine had to make business sense. Optimizing the mining operation, streamlining the sorting and production flow and finding a refining solution relatively nearby were all part of that equation.”

            “As it stands, the Bayhorse mine has a production capacity of 100 tons a day. Now that the first silver has been poured and the Mineral Solutions process proven up, Bayhorse will be working toward meeting that production target. ”

            “It is a pretty fair bet that in the next few months Bayhorse’s mining operation will focus on high grade material and the ounces will keep stacking up.”

            “At the moment Bayhorse is trading on the TSX Venture at $0.11. With the price of silver firming and the first pour in hand, Bayhorse is poised to go higher. ”

            https://seekingalpha.com/instablog/344872-jay-currie/5274436-first-silver-pour-bayhorse-silver

      • On February 23, 2019 at 11:40 am,
        Excelsior says:

        The Coming Restoration of Silver

        Gold South Africa / By Hubert Moolman – 19 February, 2019

        https://hubertmoolman.wordpress.com/2019/02/19/the-coming-restoration-of-silver/

      • On February 23, 2019 at 11:51 am,
        Excelsior says:

        Copper price surges as stocks hit 12-year lows

        Frik Els | a day ago

        “Looking ahead, global supply is expected to continue to be impacted by ageing assets, declining ore grades, limited sector reinvestment, the diminished project pipeline and some threat of mine disruption.”

        “Chinese scrap import regulations are expected to result in the increased import of cathodes and concentrates, effectively diverting such from other markets with, as yet, only a marginal increase in scrap conversion/replacement outside China. Given this dynamic and a healthy expected demand outlook, the copper market could enter into a period of substantial and sustained supply deficits.”

        “In the longer term, copper markets are expected to continue to experience solid growth rates, driven by population growth and rising living standards in emerging economies. In addition, the energy and mobility evolution, from power generation and distribution to energy storage and vehicles, is anticipated to become an increasingly important sector for copper.”

        http://www.mining.com/copper-price-surges-stocks-hit-12-year-lows/

        • On February 23, 2019 at 11:54 am,
          Excelsior says:

          Copper and Lithium giant squeezing water rights for miners

          Bloomberg News | 2 days ago

          “This has proven a challenge in the Atacama. The world’s largest copper mine, BHP Group’s Escondida, and Antofagasta Plc’s Zaldivar are requesting permit extensions to pump water from southern Atacama. Further north, the two top lithium miners, Albemarle Corp. and Soc. Quimica y Minera de Chile SA, also pump fresh water and lithium-rich mud from underneath the salty plain.”

          “Every company has a different hydro-geological model and they’re all designed to basically blame the miner next door if water levels go down,”

          “This is the most complex case we have at the moment,” Cristi said. “It is important that Escondida and Zaldivar adjust their current extraction levels if they want to continue operating because the availability of water in the basin doesn’t support the current extraction rate.”

          http://www.mining.com/web/copper-lithium-giant-squeezing-water-rights-miners/

      • On February 23, 2019 at 12:20 pm,
        robert Moriarty says:

        Matt:

        I wish some of these guys understood even the most basic facts of commodity trading. It’s a zero sum game with one buyer and one seller for every commodity and every trade. There can be no naked short selling. It doesn’t exist because it can’t.

        • On February 23, 2019 at 7:53 pm,
          Matthew says:

          Robert, it is a zero sum game but the big players can sell as many contracts as they want to at a given price whether they own silver or not. These players are de facto government-backed and can absorb an awful lot of demand at any given price if they choose to.

          • On February 23, 2019 at 7:56 pm,
            Matthew says:

            To be clear, the market cannot be controlled but it can be heavily influenced.

    • On February 23, 2019 at 11:56 am,
      Excelsior says:

      Canadian miners had a tough 2018, but optimism remains — EY

      Cecilia Jamasmie | 2 days ago

      “Although some commodities saw considerable volatility in 2018, we remain optimistic for the year ahead,” says Jeff Swinoga, EY Canada Mining & Metals Leader. “Strategic transactions, refocusing on quality deposits and, of course, digital transformation are top of mind as the mining and metals industry continues to work toward reinventing itself this year.”

      http://www.mining.com/canadian-miners-tough-2018-optimism-remain-ey/

    • On February 24, 2019 at 2:58 am,
      Excelsior says:

      WCU: Commodities ride high as trade talks dominate the agenda

      Ole Hansen – Head of Commodity Strategy – 2019-02-22

      https://www.home.saxo/insights/content-hub/articles/2019/02/22/wcu-commodities-ride-high-as-trade-talks-continue-to-dominate-the-agenda

    • On February 24, 2019 at 3:17 am,
      Anders from Copenhagen says:

      Increased concentration of market power is never good for others that the parts that collide.

      I believe this will lead to lower take-over prices for the junior miners 😡

  3. On February 23, 2019 at 7:46 am,
    Thomas Kreiser says:

    For several weeks now I only get the last segment of each hour of the weekend show on iTunes. Is it me or did I miss something?
    Thanks

    • On February 23, 2019 at 9:13 am,
      Big Al says:

      Very sorry, Thomas. I will definitely pass this on to the folks who know much more about this than I do.

  4. On February 23, 2019 at 12:53 pm,
    Markedtofuture says:

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  5. On February 23, 2019 at 4:07 pm,
    Markedtofuture says:

    News ICo Therapeutics Inc. ICO.V ICOTF

    Kick A$$ drug potential that needs a partner.

    https://quotes.wsj.com/CA/XTSX/ICO

  6. On February 23, 2019 at 9:43 pm,
    cmc says:

    I would like to hear Jayant’s take on EVRIM RESOURCES CORP.

  7. On February 23, 2019 at 11:06 pm,
    Excelsior says:

    Platinum & Palladium Price Update

    iGold Advisor – Feb 20, 2019 #VIDEO

    https://www.youtube.com/watch?v=7mGtYhlVG24

    • On February 23, 2019 at 11:17 pm,
      Excelsior says:

      Basic Investing in Resource Stocks or Why Palladium is about to Fall Off a Cliff

      Bob Moriarty – Feb 20, 2019

      “I use the Daily Sentiment Indicator a lot to give me trading signals. When I downloaded the DSI for yesterday the 19th, it showed a value of 97 for palladium. Since that is a nosebleed reading it seemed to me that I could use palladium as a training tool.”

      “Palladium first touched 96 on the 17th of January of this year. That’s a pretty extreme measure and often marks a major top. But if you look at the chart of silver for 2011, silver actually hit 96 around the 23rd of February. The actual high reading for silver was at 97 seven weeks later starting on April 15th and staying at 97 for five days. Meanwhile silver went from about $33 an ounce in February to about $42.50 in mid April before topping at $49.80 on the 25th of the month. So the DSI can in fact say a top is at hand and the commodity still move up 15-20% in the last dying gasp before plunging.”

      “I can say with great confidence that palladium is going to plunge. We are showing a DSI that says a top is near. Of course it might be $200 higher when it goes over the cliff depending on how stupid investors want to get.”

      http://www.321gold.com/editorials/moriarty/moriarty022019.html

    • On February 24, 2019 at 12:34 am,
      Excelsior says:

      Is Bad News In Store For Platinum-Group Metals? (Part 1)

      Kitco News – Apr 19, 2018 #VIDEO

      “Platinum-group metals (PGMs) have a dreary long-term outlook due to the electrification of cars, said Jeff Christian, managing partner at CPM Group.”

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

  8. On February 24, 2019 at 6:50 pm,
    Charles says:

    Thanks for the show guys.