Craig Hemke from TF Metals Report – Thu 6 Jun, 2019

Here’s what to watch for metals investors as we move through June

Craig Hemke, Founder of TF Metals Report weighs in on the recent strength in gold to kick off June. There is a lot going in gold’s favor right now which is why we are starting to see some of the biggest consecutive moves up in the metal in over a year and a half. We look at some of the major drivers coming up for the yellow metal.

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Comments:
  1. On June 6, 2019 at 4:16 pm,
    Excelsior says:

    This Miner May Fly Thousands of Ounces of Gold to Canada to Avoid Trump’s Tariffs

    By Danielle Bochove – June 6, 2019

    Agnico Eagle Mines Ltd. currently produces about 300,000 ounces of gold in Mexico that it refines in the U.S., all of which would likely be subject to the proposed tariffs, Chief Executive Officer Sean Boyd said Wednesday. But he already knows how he’d respond to potential levies.

    “It’s not expensive to fly a bar of gold,” Boyd said in an interview at Bloomberg’s Toronto bureau. “We would just refine it somewhere else. We could easily bring it to Canada.”

    https://www.bloomberg.com/news/articles/2019-06-06/miner-plans-on-flying-mexico-gold-to-canada-to-duck-u-s-tariffs

    • On June 6, 2019 at 4:22 pm,
      Excelsior says:

      RNC Minerals does it again at Beta Hunt

      Trish Saywell – June 6, 2019

      RNC Minerals (TSX: RNX) has discovered an estimated 987 ounces of gold in 238 kilograms of rock from a series of veins on the 16 level of its Beta Hunt mine, just 25 metres below its Father’s Day Vein discovery on the 15 level, which it announced in September 2018.

      “We’ve only done the ore drives, there’s still 20 metres between each level that we haven’t mined yet so if we’re getting 1,000 ounces to 2,000 ounces per level, that suggests we could get anywhere from 5,000 to 10,000 ounces per level, which start to add up a lot of high-grade ounces pretty quickly,” Mark Selby, RNC Minerals’ president and CEO, tells The Northern Miner.

      “The thing that’s amazing is the density of the stuff,” he continues, noting that in the Father’s Day Vein, most of the 20,000 ounces came from just two tonnes of hand-picked rock grading about 400,000 grams gold per tonne, or 40% gold. “If you jammed it together that’s a dining room table a metre thick. The 1,000 ounces we pulled out last weekend was grading 120,000 grams gold per tonne or 12% gold, occupying about 70-80 litres of volume, which is basically the size of a car’s gas tank.”

      https://www.northernminer.com/news/rnc-minerals-does-it-again-at-beta-hunt/1003807159/

      • On June 6, 2019 at 4:33 pm,
        Excelsior says:

        (RNX) RNC Minerals shares soar on another gold discovery at Beta Hunt

        Jackson Chen | about 4 hours ago

        “Shares of RNC Minerals (TSX: RNX) soared by over 22% on Thursday — taking the stock to over C$0.50 for the first time in two months — after another high-grade gold discovery yesterday at its Beta Hunt mine in Western Australia. This is the second discovery of significance at Beta Hunt in the past nine months.”

        http://www.mining.com/rnc-minerals-shares-soar-another-gold-discovery-beta-hunt/

    • On June 6, 2019 at 4:38 pm,
      Excelsior says:

      An Activist Gold Rush?

      June 2019 – Kingsdale Advisors

      Momentum is building for M&A across the gold industry driven by the market, balance sheets, and shareholders. Behemoths Barrick Gold Corp. (NYSE: GOLD, TSX: ABX) and Newmont Mining Corp. (now Newmont Goldcorp Corp. (NYSE: NEM, TSX: NGT)) have grabbed headlines with acquisitions of Randgold Resources Ltd. and Goldcorp Inc. respectively, and the junior and intermediate space has seen a flurry of deals as well.”

      “At the same time, shareholders have launched high profile campaigns against Detour Gold Corp. TSX:DGC), Guyana Goldfields Inc. (TSX:GUY), and Hudbay Minerals Inc. (TSX, NYSE: HBM), an integrated mining company with some exposure to gold that is nonetheless instructive, with part of the shareholders’ thesis for change related to the viability of M&A opportunities.”

      “In fact, in the last two quarters (Q4 2018 and Q1 2019) we have seen over CAD$20 billion in deals announced in the gold industry involving Canadian listed
      companies and 13 activist campaigns in the last 26 months, with activists scoring wins or partial wins in all but three contests. (And these are only the activist actions that we know about; based on our experience only a fraction of activist interactions ever become public.) We would note specifically that the three management wins all came at small companies while the activist wins came at relatively large companies, demonstrating that size is not a defense.”

      http://www.kingsdaleadvisors.com/images/resources/PDFs/Activism_in_the_Gold_Industry.pdf

  2. On June 6, 2019 at 4:18 pm,
    Excelsior says:

    Gold extends gains to a 7th session, the longest winning streak in over a year

    By Myra P. Saefong and Rachel Koning Beals – June 6, 2019

    https://www.marketwatch.com/story/gold-extends-run-to-multi-month-highs-as-dollar-index-withers-2019-06-06

  3. On June 6, 2019 at 9:35 pm,
    Ozibatla says:

    Another test for gold coming up. If it can finish the week above or near 2019 highs, it bodes well for challenging resistance in the near future. Otherwise another fake breakout could ensue. We shall see…

  4. On June 6, 2019 at 11:26 pm,
    cfs says:
  5. On June 6, 2019 at 11:26 pm,
    Matthew says:

    Despite all the stress it caused many people, gold’s decline since February was not big-picture bearish in the least. The rise following the September low was bullishly very different than the prior few rallies and set the stage for the normal/bullish correction that we got. Notice that the bears didn’t even come close to taking gold to the 200 day MA (for what still would have been a normal backtest)…
    https://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=0&mn=11&dy=0&id=p69026644016

  6. On June 7, 2019 at 9:19 am,
    cfs says:

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