Brien Lundin Commentary – Thu 28 Mar, 2019

Why Is Gold Lagging The Other Safe Haven Assets?

Brien Lundin, Editor of The Gold Newsletter joins me to address the fact that gold has been lagging the other safe haven investments. With the USD on an uptrend putting in higher highs and lows and bonds continuing higher, gold still has not broken out or established a more long term uptrend.

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Comments:
  1. On March 28, 2019 at 11:32 am,
    Matthew says:

    The sector is simply still in a corrective mode following the February top. GDX gained 38% in five months and is still up 30%. So far, it is holding up decently considering gold’s plunge today. GDX’s leverage to gold is a wimpy 2 to 1 so the market is not yet telegraphing much more downside.
    http://schrts.co/KWpyJKyS

  2. On March 28, 2019 at 12:12 pm,
    Paul says:

    All I hear is gold breakout which means above $1370 and hold that level. Everytime we get excited when gold test that level only to fall back. Gold is just trading in a range. I think we need true inflation to drive gold. Fed not going to lower interests rates until stock mkt falls into recession and that wont happen till after 2020 election.

  3. On March 28, 2019 at 12:34 pm,
    Bonzo Barzini says:

    Matthew, Excelsior, Cory, and Doc,
    Did you ever buy Miramont Resources? In the last couple of days it has plunged from 48 cents to 11 cents. Wonder what the news is? Has Pincus run off to Switzerland with all the funds? Or is it time to buy?

    • On March 28, 2019 at 2:17 pm,
      Matthew says:

      Looks like the market was very disappointed with today’s drill results. I don’t own or follow it so I don’t know if it is appealing here from a speculative or value perspective. From a technical standpoint, I’d avoid it.

    • On March 28, 2019 at 5:59 pm,
      Excelsior says:

      Hi Bonzo Barzini – No I don’t own and haven’t ever owned Miramont Resources.

      • On March 29, 2019 at 3:44 pm,
        Excelsior says:

        Here’s Bob M’s take on what happened with their first 3 drill holes compared to the 2nd 3, and that they sat on 3 duds and didn’t really cover them adequately in their news release.

        Miramont Issues Lying Press Release

        Bob Moriarty – Mar 29, 2019

        http://www.321gold.com/editorials/moriarty/moriarty032919.html

  4. On March 28, 2019 at 12:48 pm,
    CFS says:

    Off Topic, but horrendously important.

    (I believe the political situation in the US will have an effect on Precious Metal Prices and the Stock Market.
    RUSSIAN COLLUSION: Do you seriously think Russia would favor Trump as opposed to Hillary?

    Answer: They would not…….ergo, they did not collude with Trump.

    Dan Bongino lays it all out in this broadcast today:

    https://youtu.be/RkyWkaYiP5I?t=1160

    • On March 28, 2019 at 4:06 pm,
      b says:

      I dont see how the Russians would care one way or the other.
      The Russians really are not stupid and understand the american two headed snake.

  5. On March 28, 2019 at 3:25 pm,
    Matthew says:

    GLD fell to the 600 hour EMA today. That EMA marked the low on March 5th but I think it’s going a little lower this time.

  6. On March 28, 2019 at 6:01 pm,
    Excelsior says:

    Into The Wild West: What It Takes To Become A Professional Mining Investor

    by @Keecher on 28 Mar 2019

    “A full-time mining investor, commentator, and educator behind the popular website, Twitter account, and YouTube channel: The Mining Book Guy.”

    https://ceo.ca/@keecher/into-the-wild-west-what-it-takes-to-become-a-professional-mining-investor

  7. On March 28, 2019 at 6:08 pm,
    Excelsior says:

    The Biggest Market Pitfall That Everyone Succumbs To

    by @Goldfinger on 28 Mar 2019

    https://ceo.ca/@goldfinger/the-biggest-market-pitfall-that-everyone-succumbs-to

  8. On March 28, 2019 at 6:13 pm,
    Excelsior says:

    The biggest Gold stock gainer of the day was Compass Gold up over 400% !!

    (CVB) Compass Gold Corp

    $0.58CAD up +$0.47 (404.35% gain)

    Shazam!!

    • On March 28, 2019 at 6:32 pm,
      Excelsior says:

      Compass Gold: Diamond Drilling at Farabakoura Intersects High-Grade Gold Mineralization

      by @nasdaq on 28 Mar 2019

      https://ceo.ca/@nasdaq/compass-gold-diamond-drilling-at-farabakoura-intersects

      • On March 28, 2019 at 6:38 pm,
        Excelsior says:

        (AXU) (AXR) Alexco Announces Positive Pre-Feasibility Study for Expanded Silver Production at Keno Hill Silver District

        by @newswire on 28 Mar 2019

        Project pre-tax and after-tax net present value (NPV) is $136.4 million and $101.3 M (5% discount rate), respectively, and pre-tax and after-tax internal rate of return (“IRR”) is 84% and 74%, respectively, at an assumed average life of mine silver (“Ag”) price of US$17.90 per ounce (“oz”).

        At current spot metal prices 1 and USD/CAD foreign exchange rate, the project has a pre-tax and after-tax NPV of $101.7 M and $79.9 M (5% discount rate), respectively, and a pre-tax and after-tax IRR of 63% and 57%, respectively.

        LOM average annualized mine production is projected to be 154,000 tonnes (“t”) per year over an approximately eight (8) year project life at an average feed grade of 804 grams per tonne (“g/t”) Ag, 2.98% lead (“Pb”), 4.13% zinc (“Zn”) and 0.34 g/t gold (“Au”).

        Total payable metals in concentrate are approximately 27.2 M oz of Ag, 67.2 M pounds (“lbs”) of Zn, 65.4 M lbs of Pb over an eight (8) year mine life. Average annualized contained silver in concentrate is 4.0 M oz per year, based on full production years.

        Initial capital costs are estimated to be $23.2 M comprised of $17.9 M of surface and underground development costs to reach mill commissioning plus an additional $5.3 M of net working capital for two (2) months of mill operations ramp-up prior to positive cash flow.

        Total sustaining capital (including underground development and property, plant and equipment (“PP&E”)) is estimated to be $76.5 M, which excludes the initial capital of $23.2 M. Direct operating costs of $321/t of ore are estimated over the LOM.

        Upon achieving commercial production, Alexco has calculated all-in sustaining costs (“AISC”) (contained Ag, by-product basis) over the LOM to be US$11.98/oz of Ag. At current spot prices1 over the LOM, the calculated AISC is US$10.86/oz of Ag.

        https://ceo.ca/@newswire/alexco-announces-positive-pre-feasibility-study-for

        • On March 28, 2019 at 6:40 pm,
          Excelsior says:

          (AXU) (AXR) Alexco Chairman and CEO, Clynton Nauman, commented, “The results of the PFS reflect the exceptional asset we have in Keno Hill and demonstrate a robust high margin primary silver operation that can produce approximately four million ounces of silver per year. The operational and economic metrics of the PFS show an improvement over the previous preliminary economic assessment (“PEA”) in nearly all categories including a higher NPV, increased annual silver production, reduced capital requirements, improved operating costs and productivities, increased mine tonnage and throughput, lower LOM AISC and an impressive IRR. With the results of the PFS now in hand, we are now on a clear path to production at Keno Hill.”

    • On March 28, 2019 at 7:09 pm,
      Excelsior says:

      MARCH MADNESS/JUNIOR MINERS/ FINAL FOUR

      by @MickeyMantle – 28 Mar 2019

      Bracket 1) WINNER- (IRV) Irving Resources $1.80 up 33 cents to $2.13 = 18% over
      (MUX) McEwen Mining $1.79 down 15 cents to $1.64 = Minus 9%

      Bracket 2) WINNER- (JCO) Jericho Oil 43 Cents down 1 cent to 42 Cents = Minus 2% over
      (FVAN) First Vanadium 77 Cents down 23 Cents to 54 Cents = Minus 31%

      Bracket 3) WINNER – (ANX) (Anaconda Mining) 22 Cents up 10 cents to 32 Cents = 45% Gain over
      (SIR) Serengeti Resources 17 Cents up 7 cents to 24 Cents = 41% gain

      Bracket 4) WINNER (AZS) Arizona Silver Exploration 7 Cents up 6 cents to 13 cents) = 86% Gain
      (PRG) Precipitate Gold 12 Cents even at 12 cents = 0 Gain

      https://ceo.ca/@mickeymantle/march-madnessjunior-miners-final-four

  9. On March 28, 2019 at 6:49 pm,
    Excelsior says:

    PALLADIUM, PALL/GOLD RATIO, SPX AND THE GOLD SECTOR

    March 28, 2019 – Gary Tanashian

    “But experience has taught me that when alarming things happen, even if in just one single (yet key) asset market or commodity, attention should be paid. We used PALL/Gold as a positive cycle signal in 2013 (and again in 2016), so we will use it again now going the other way. It won’t be the be-all end all. I don’t have a secret sauce with which to transfix you. I have themes driven by indicators and this indicator is now driving a theme, and it’s not pleasant.”

    “Indeed, PALL/Gold is far from broken. It could be argued that the indicator is just taking a routine pullback on the way to ever happier cyclical outcomes. But to have that view you have to put aside the impulsive hit to palladium per the daily chart above. I don’t put it aside, not by a long shot. But if we are going to play it straight, the PALL/Gold ratio is still on a positive cycle indication by the weekly chart and the moving averages we’ve used.”

    https://nftrh.com/2019/03/28/palladium-pall-gold-ratio-spx-and-the-gold-sector/

    • On March 28, 2019 at 7:21 pm,
      Excelsior says:

      (TV) (TREVF) Provides Mineral Reserves and Mineral Resources Update; Increases Consolidated M+I Zinc Resources 13% year over year

      by @nasdaq on 28 Mar 2019

      > Exploration successfully replaced and increased consolidated zinc Measured and Indicated Resources at all mine sites, with higher grades at Santander and Caribou:

      Consolidated Measured and Indicated Mineral Resources increased to 7.4 billion pounds (3.4 million tonnes) of contained zinc, an increase of 13% over the prior year
      Consolidated Inferred Mineral Resources comprise an additional 3.2 billion lbs (1.5 million tonnes) of contained zinc

      > Consolidated lead and silver resources also increased:

      Consolidated Measured and Indicated Mineral Resources increased to 1.7 billion pounds (0.8 million tonnes) of contained lead and 55 million ounces of contained silver

      > Consolidated Inferred Mineral Resources include an additional 0.8 billion lbs (0.4 million tonnes) of contained lead and 28 million ounces of contained silver

      > Consolidated Proven and Probable Mineral Reserves are:
      2.83 billion pounds (1.28 million tonnes) of contained zinc
      494 million pounds (0.22 million tonnes) of contained lead
      16.1 million ounces of contained silver

      https://ceo.ca/@nasdaq/trevali-provides-mineral-reserves-and-mineral-resources-f79e7

  10. On March 28, 2019 at 6:56 pm,
    Excelsior says:

    “Interested in Lithium? @HowardKlein10 names three major players in this space and discusses how pollution control, clean energy and e-mobility contribute to its increasing use.”

    https://twitter.com/realvision/status/1111399158760431624

  11. On March 28, 2019 at 7:32 pm,
    Dick Tracy says:

    Fiat Chrysler is laying off 1500 workers at a production facility in Windsor On. Canada. For every job loss in the auto sector nine other jobs that depend on those jobs are gone. This is on top of General Motors closing a big automotive plant in Oshawa the end of this year. (another 10,000 jobs gone) I don’t know whether anyone agrees with me but I think the bad times are starting to multiply. It seems that car makers are in a desperate position every time I turn on the TV I see auto adds for unsold inventory. The consumer is broke and the car makers will be waiting a long time for buying to resume. I smell a serious downturn caused by an altogether overly efficient auto manufacturing base, overproduction of capital, installment buying with overextended credit, an artificial price level for many commodities, and the depressed condition of Chinese and European trade. DT

    • On March 29, 2019 at 4:49 am,
      OOTB Jerry says:

      I agree with most of your above statement……….
      Autos have been over priced for a long time…….
      Most people simply can not afford what they are driving. Someone driving a $35,000 car, needs to be making about $100,000 , to keep things in balance for life’s other necessities.
      Inflation of all products including cars,, has been hidden for a long time, and is now catching up to reality for some. Really sad that most consumers are brain dead.

      • On March 29, 2019 at 5:02 am,
        Dick Tracy says:

        Yes Jerry, you have to hand it to the cocktail weenies, they never see the big salami until they feel the real pain. LOL! DT

        • On March 29, 2019 at 6:56 am,
          OOTB Jerry says:

          If, the majority…….can not come up with a $400 emergency payment……no wonder the car lots are jam packed with cheap BMWs, and Mercedes Benzs….Big Dogs no more…LOL

          • On March 29, 2019 at 6:57 am,
            OOTB Jerry says:

            Little contail weenies……..

  12. On March 28, 2019 at 8:17 pm,
    Dick Tracy says:

    A lot of the big guns on this site must have missed this company as nobody has been talking about a company in The Yukon that has drill results of over 50% zinc and 39.63% lead. It is also run by one of the most famous entrepreneurs in mining history, Charles Fipke. They have the richest high grade drill results that I have ever seen. DThttps://web.tmxmoney.com/article.php?newsid=6700178100992703&qm_symbol=CD

    • On March 28, 2019 at 9:27 pm,
      Dick Tracy says:

      The symbol is CD on the venture, I hope this link is clear:
      https://web.tmxmoney.com/article.php?newsid=6700178100992703&qm_symbol=CD
      They also recently did a PP for $15 million CDN, the float is just over 34 million and they have a huge land position in The Rakla, Yukon. Most of the stock is held by insiders, I believe Fipke owns over 40%.

      • On March 28, 2019 at 9:31 pm,
        Dick Tracy says:

        CD= Cantex Mine Development Corporation! DT

        • On March 29, 2019 at 5:23 am,
          Excelsior says:

          Thanks DT. Yeah I hadn’t heard of them but 50% lead and 39% zinc on that recent drill was impressive exploration success and the stock definitely responded going up over 10 fold from $.18 in late October to $2.36 at present.

          However, it now has an $80 Million market cap and may have gotten a bit ahead of itself until it has more data on how it would develop it’s property.

          I’m adding it to my Zinc and Silver watchlists and appreciate your posts.

          • On March 29, 2019 at 5:34 am,
            Excelsior says:

            @Goldfinger – “A #TradingPsychology post I made earlier today in the Trading Lab:”

            “What is worse from a financial/emotional capital standpoint?”

            1. Chasing a high-flyer pumped up stock that’s up 400% in the last 2 months and then watching it drop and taking a 30% loss.

            2. Not chasing a high-flyer pumped up stock that’s up 400% in the last 2 months and then watching it double again without you on board?”

            In instance 1 you lose money and probably feel pretty dumb i.e. “I should have known that was the top…”.

            In instance 2 you experience no financial change, but you probably feel a lot of regret for not jumping aboard the train i.e. “Of course it was going higher because blah blah blah”

            “In reality, instance 2 should happen a lot more for a profitable trader than instance 1. We’re going to miss stuff all the time because we simply can’t be in EVERYTHING. F$c* regret, conserve capital and be unemotional.”

            — Goldfinger

            https://ceo.ca/mbgtrends?31f892aa7d98

          • On March 29, 2019 at 5:37 am,
            Excelsior says:

            @Jayfire _ “great read @Goldfinger and something worth thinking about… One thing I like to always try and remember is that my allegiance is to early FI and not to a single one of these mining stocks… These juniors are merely stepping stones to something much bigger/better. :)”

            “When people rip on any mining stocks I hold, I don’t take it personally, if anything it makes me re-assess my thesis and look for potential pitfalls… Truth is, I can’t wait to offload any of my holdings, ideally for max profit, but that’s not realistic in this game. Having to abandon ship and bail out is something that needs to become second nature, like that of a baseball player striking out. It’s gonna happen. Falling in love with a stock and stubbornly committing to riding it out for better or worse, despite when there’s clear warning signs being pointed out by peers is a recipe for insolvency in this game. The other side of the coin that makes you ponder and think is worth infinitely more than just mindless cheerleading… But hey, it’s how human logic and psychology works, I’m afraid. Cheers.”

            — Jay FI Fighter

            https://ceo.ca/mbgtrends?f58c822d04f8


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