Gold at a 6 year high and silver playing catch up
Lobo Tiggre, Editor of the Independent Speculator joins me for a close look at the gold and silver markets. With gold recently hitting a 6 year high last night and silver continuing to play catch up there is a lot for PM bulls to talk about. We also discuss a silver play that Lobo likes and what he looks for in gold stocks.
Click here to visit Lobo’s site and sign up for his free email updates.
Based on the monthly chart, I’m not very worried about the overbought weekly and daily charts.
(DV) (DOLLF) DOLLY VARDEN ANNOUNCES $3.5MM FINANCING AND STRATEGIC INVESTMENT BY ERIC SPROTT
Aug 26, 2019
Gary Cope President and CEO stated “We are very pleased to welcome Mr. Eric Sprott as a strategic investor in Dolly Varden. The significant investment from Mr. Sprott is a strong endorsement of our high grade silver assets in the Golden Triangle, British Columbia. This financing puts us in a very strong financial position and allows the Company to continue expanding its silver mineral resource with new high grade silver discoveries on the property.”
(BHS) (KXPLF) Bayhorse Silver explores Brandywine project in British Columbia
August 26, 2019
“After visiting Brandywine with our highly experienced geological team and seeing the easy access, with well-developed drill pads in place, and the ability to work year-round we believe the exploration will be very cost-effective,” Bayhorse CEO Graeme O’Neill said in the corporate media statement.
https://www.mining.com/bayhorse-silver-explores-brandywine-project-in-british-columbia/
(IPT) (ISVLF) Imact Silver Announces Results of Successful Dense Media Separation (DMS) Study at Capire VMS Production Center
26 Aug 2019
https://ceo.ca/@newswire/impact-silver-announces-results-of-successful-dense
(BAR) (BALMF) Balmoral Adds Three New Nickel-Copper-PGE Targets, RUM Project, Quebec
by @nasdaq on 26 Aug 2019
“Based on analysis of the geophysical signature of the intrusion hosting the nickel-copper-gold-platinum-palladium mineralization at Bluenose, Balmoral has staked two new properties, RUM Northwest and West and further expanded the RUM North property to acquire control of a three similar geophysical anomalies outside its existing property holdings.”
https://ceo.ca/@nasdaq/balmoral-adds-three-new-nickel-copper-pge-targets
(GLEN.L) Glencore and (FCC) (FTSSF)First Cobalt Sign Definitive Agreement
by @newswire on 26 Aug 2019
“First Cobalt Corp. is pleased to announce that it has entered into a US$5 million loan facility with Glencore AG to complete advanced engineering, metallurgical testing, field work and permitting associated with a recommissioning and expansion of the First Cobalt Refinery in Canada. Upon completion of a positive definitive feasibility study for a 55 tonnes per day refinery expansion in Q1 2020 and subject to certain other terms and conditions and satisfaction of conditions precedent, Glencore is prepared to advance an additional US$40 million to recommission and expand the Refinery.”
https://ceo.ca/@newswire/glencore-and-first-cobalt-sign-definitive-agreement
(SUNM) Sun Metals Reports 86.40 Metres Grading 1.65% Copper, 1.56 g/t Gold and 28.8 g/t Silver or 3.00% Copper Equivalent at First Step-Out to the North in 421 Zone at Stardust Project
26 Aug 2019
https://ceo.ca/@newswire/sun-metals-reports-8640-metres-grading-165-copper
(NEXA) Nexa Resources to Acquire (KAR) Karmin Exploration in Friendly Offer
@businesswire on 26 Aug 2019
“Under the terms of the Transaction, Karmin shareholders will receive US$69.3 million or approximately US$0.77 (being C$1.02 at the date hereof) in cash on a fully diluted basis for each Karmin share held. In addition, Nexa will provide to Karmin a US$700,000 demand loan to cover certain expenses of the Transaction the excess amount of which, if any, following the completion of the Transaction will be transferred to SpinCo. The cash consideration per Karmin share represents an approximately 28% premium to Karmin’s closing price on the TSX Venture Exchange.”
https://ceo.ca/@businesswire/nexa-resources-to-acquire-karmin-exploration-in-friendly
(MKO) (MAKOF) Mako Mining – 545.96 g/t Gold and 219.0 g/t Silver Sampled in Trench Outside Current Pit Limits at San Albino
by @newswire on 26 Aug 2019
https://ceo.ca/@newswire/54596-gt-gold-and-2190-gt-silver-sampled-in-trench
(AR) (ARNGF) Argonaut Gold Extends El Castillo Mine Life with Zero-Cost Collar Gold Price Protection Program
26 Aug 2019
https://ceo.ca/@newswire/argonaut-gold-extends-el-castillo-mine-life-with-zero-cost
Quebec Site Visit Tour Day 1 – (OSK) Osisko Mining
by @Leni on 26 Aug 2019
“For all intents and purposes, the Osisko story starts back in 2004 with the acquisition of the Canadian Malartic site. Founders, John Burzynski, Sean Roosen and Robert Wares, used an innovative geological analysis model to analyze Quebec’s publicly available geological data (SIGEOM). The data revealed that the Canadian Malartic site had the potential for an open pit mining operation, which prompted the team to acquire the site.”
“Seven years after acquisition, in 2011, Canadian Malartic poured its first gold bar, and 3 years after that, it was acquired in a friendly transaction by Agnico Eagle and Yamana Gold.”
“Today, Osisko Mining, the company run by this mine-building team, is focused on developing the Windfall Project, which is located in the Abitibi Greenstone Belt between Val d’Or and Chibougamau in Quebec.”
https://ceo.ca/@leni/quebec-site-visit-tour-day-1-osisko-mining
(RZZ) Abitibi Royalties:
Royalties on Agnico Eagle + Yamana’s Canadian Malartic Mine
Captures the Upside of Exploration, Gold Price + Cash Flow
(GZZ) Golden Valley Mines holds an approximate 45.0% interest in (RZZ) Abitibi Royalties Inc., an approximate 31.01% interest in (MZZ) Val-d’Or Mining Corporation, and an approximate 16.5% interest in (IZZ) International Prospect Ventures Ltd.
Here is (BTR) Bonterra’s Gladiator, Barry, and Two Lions projects – which happen to be right by Osisko Minings Windfall Lake project:
Kirkland Lake & Eric Sprott have an interest in Bonterra, and unlike Osisko Mining, they already have the Urban-Barry Mill from when they took over Metanor Resources last June. That gives them a big strategic advantage compared to many of the other exploration companies working around the Windfall Lake area.
http://btrgold.com/projects/urban-barry-mill-abitibi-greenstone-belt-quebec-canada/
(BTR) (BONXF) Bonterra Resources Announces Closing of $32 million Private Placement
20 Aug 2019
“Sprott Capital Partners LP acted as lead agent on behalf of a syndicate of agents which included PI Financial Corp., RBC Dominion Securities Inc. and Haywood Securities Inc.”
“An insider (as such term is defined under applicable securities law) of the Company, (KL) Kirkland Lake Gold Ltd., has subscribed for 372,000 Units under the Offering (the “Kirkland Subscription”). This Kirkland Subscription constitutes a “related party transaction”
https://ceo.ca/@newsfile/bonterra-resources-announces-closing-of-32-million
Developing Quebec’s next Gold Camp – Bonterra Resources (BTR) (BONXF)
July 2019 – Corporate Presentation
Resource expansion in the Urban-Barry Camp (right next to Osisko’s Windfall Lake)
http://btrgold.com/wp-content/uploads/2019/08/BTR-Corporate-Presentation-2019-07-rev-3.pdf
Re:
On August 25, 2019 at 5:49 pm,
Chartster says:
Gold is going to drop because of ‘real economic reasons’.
It won’t be manipulation when it drops.
—end—
No, Chartster, it will drop for technical reasons and not for very long.
I’m pretty sure you haven’t made one correct call about gold in all the years you’ve been here. For example:
https://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=1&mn=1&dy=0&id=p20732072649&a=668461006
Btw, whatever happened to the event you predicted for early July? You said something big was supposed to happen.
Looked like a classic “fat finger” buy for gold yesterday. Interesting! Even more interesting, silver held its fat finger gain overnight which I think bodes well for both gold and silver. Havent seen that sort of pop in the gold market for a while.
I agree with your reading even though the miners didn’t act very well in north america today.
Silver at $17.96 and made it up to $17.99.
Only a few pennies left before $18 is taken out and we need to set the alarm to wake up Spanky. 😉
SLV:
https://stockcharts.com/h-sc/ui?s=SLV&p=W&yr=3&mn=11&dy=0&id=p76809833574&a=619821453