Weekend Show – Sat 19 Oct, 2019

Hour 1 – Emerging Market Opportunities, Resource Sector M&A, Ecuador Updates, and an Update From SilverCrest Metals

Full Hour

I will be at the Schachter Energy Conference today in Calgary on the look out for some attractive oil and gas companies. If anyone is at the conference please email me (Fleck@kereport.com) so we can meet up.

The first hour of the show I feature Adrian Day, SilverCrest Metals, and Chris Temple with an update on the situation in Ecuador. I hope you all enjoy and I hope everyone has a great weekend!

  • Segment 1 and 2 – Adrian Day kicks off the show by looking at the relative value in global markets compared to US equities. In the second segment we shift focus to the resource sector and discuss why M&A has been slow in general.
  • Segment 3 – SilverCrest Mines released news on reconciliation results from the Babicanora Vein. Eric Fier, CEO of SilverCrest provides some more details on the results that yielded higher grades and more ounces from the February 2019 resource model. Click here to read over the full news release.
  • Segment 4 – Chris Temple wraps up the first hour with an update on the political and business situation in Ecuador.

Exclusive Company Updates This Week



Comments:
  1. On October 19, 2019 at 5:06 am,
    Excelsior says:

    Cory & Big Al & all the KE Report contributors…. Thanks for another great weekend show!

    • On October 19, 2019 at 7:42 am,
      Bob Grierson says:

      Excelsior

      The KEReport message board is there for people to exchange ideas. Pease be more succinct. I cannot imagine anyone taking the time to read your endless ramblings. You even reply to your own comments! Go out and smell the roses.

      • On October 19, 2019 at 9:39 am,
        Excelsior says:

        Bob – if you don’t want to read a post that relates to the resource industry, or this weekend’s topic of politics and business in Ecuador, then just scroll on by dude…

        If this was your idea of exchanging idea or a succinct post that brought any value to the board, I think I’ll skip your opinion of how to post on this blogs.

        You’ve criticized half the speakers that come on to the KER on the majority of your posts, and I’ve yet to see you post anything that brought value to any other reader of the KER. The posts I submitted are referenced to other sources that do bring value. Was that succinct enough for you?

        Thanks…. but no thanks.

        • On October 20, 2019 at 2:02 am,
          Bob Grierson says:

          Oh, my goodness, did I hurt your feelings? I doubt if I send more than two or three posts a year and you certainly don’t have to scroll down fifteen or twenty screens to get to the end. You are polluting the message board with your endless jabber.

          • On October 20, 2019 at 2:59 am,
            Excelsior says:

            Bob – thanks for another completely valueless post that contributed to nobody and we’ll forget by tomorrow.

            For the record – when you do occassionally post here at the KER, it is typically negative or whining against the comments of a guest, and now you have the audacity to talk about jabber or polluting the message board. Poppycock.

            If you made the smallest effort to read, you’d realize that the majority of the posts aren’t my words, but rather quotes from the articles or interviews with the source, date, and a link.

            They provide much more substance than any post you’ve come up with in years, and they’re focused on the resource sector or the topics in the editorials. (like Ecuador this weekend).

            Nobody cares about your desire to scroll down to the bottom of the blog as fast as possible so go get bent. This forum is about sharing insights on macro economics, resource sector news, and investable ideas — concepts that seem to elude your brilliant intellect and that you wouldn’t recognize if the wacked you in the face.

          • On October 20, 2019 at 3:09 am,
            Bob Grierson says:

            Excelsior

            What is your problem? Is spending a weekend pounding the keys a substitute for sex? Maybe you should consider taking some of those little blue pills.

          • On October 20, 2019 at 3:40 am,
            Excelsior says:

            Bob – keep trolling like you have for years and maybe you’ll get the boot for breaking the site rules, and offering absolutely no value.

            For those wondering who blog mosquito is, here’s a little montage of Bob Grierson’s pattern of trolling KER contributors and being a negative nancy. Yeah, what a treasure your posts are for us all Bob.

            ________________________________________________________________________________

            > On September 6, 2018 at 10:00 pm,
            Bob Grierson says: (here is Bob up to his old habit of trolling me on the KER)

            “Who is this Excelsior? Has he considered writing ‘Gone With The Wind, part 2’ ?”

            >> On September 7, 2018 at 7:04 am,
            Robert Moriarty says: (Bob M. responds to Bob G’s trolling)

            “Bob G: I think he’s the guy who is competing with Mathew to see how much money he can help readers make for free. It’s a tossup as to who is better, Ex or Matt but they have put more money into more people’s pockets on this board than the next 20 combined.”

            “Matt and Ex just keep pumping out good advice for free. I personally feel I owe them both a giant thanks for all they do.”

            “Ex: Write away.”

            > On October 16, 2018 at 6:59 pm,
            Bob Grierson says: (here is Bob taking a swipe at David Erfle)

            “Hello David – I recently asked you why you still own Novo Resources despite it having fallen over 50% from when you bought it. Your reply was that you bought Novo via a private placement, a vehicle not available to most of us. I would be interested to know if you got a warrant with the purchase and what the strike price of that warrant was. I wish you would be a little more transparent about your purchases rather than just saying “I own Novo”.

            > On October 17, 2018 at 8:36 am,
            Bob Grierson says: (Bob taking another swipe at David Erfle – as if David owes Bob anything. If you want his thoughts then subscribe)

            “Hi Dave – It seems to me that if you are going to use the KEReport as a platform to promote your services you should be transparent and forthcoming there as well.”

            > On October 16, 2018 at 10:20 am,
            Bob Grierson says: (Bob taking a shot at a guest company interivew)

            “Hi Cory / Hugh – It sounds like Revival is burning through lot and lots of money. I wish you would give details of grades and where or not heavy weights such as Sprott are helping with the financing. Is there going to be a massive share dilution?”

            > On October 18, 2018 at 12:27 pm,
            Bob Grierson says: (Bob taking a swipe at Craig Hemke the guest that day)

            “Oh my God, he’s still talking! ”

            > On January 17, 2019 at 1:21 pm,
            Bob Grierson says: (Bob taking another swipe at Craig Hemke – as if Bob has ever provided any insight on here that made anyone money)

            “Craig – The bottom line is that anyone who followed your advice last year lost money.”

            > On May 16, 2019 at 2:48 pm,
            Bob Grierson says: (Bob continuing to troll Craig Hemke)

            “Craig – So much for your ‘cap’ on price moves.”

            > On May 17, 2018 at 7:05 pm,
            Bob Grierson says: (Bob showing his complete lack of knowledge around technical analysis)

            “Forget this chart nonsense. What could be more of a trailing indicator than the COT report?”

            > On September 18, 2019 at 11:47 am,
            Robert Grierson says: (Bob, who doesn’t understand TA trying to school Jordan on charts)

            “Jordan – There is a sea change occurring in the precious metals markets that is not reflected in your charts.”

            > On February 15, 2018 at 4:27 pm,
            Bob Grierson says: (Bob taking yet another swipe at Craig H. just like a troll)

            “What is Craig Hemke’s claim to fame that gives him the right to pontificate on the precious metals market? His track record is dismal.”

            > On December 8, 2016 at 8:45 am,
            Robert Grierson says: (Bob telling us all who he’s stopped listening to – like we give a chit who this ding dong listens to. Who does this guy think he is?)

            “Hi Al / Cory – Your viewers might be interested in a list of ‘gurus’ that I have stopped listening to for various reasons.”

            “The following are very good at jaw-boning and postmortems but rarely spot inflection points in the market.”

            > On December 1, 2016 at 10:06 pm,
            Robert Grierson says: (Bob taking another swipe at Craig Hemke as if he is the judge of who has value)

            “Dear Al / Cory – Not to mention any names but please look at the track record of your guest from time to time. If his recommendations are wrong or his portfolios are performing poorly do what my dad used to do with the puppy when it crapped on the livingroom rug. Take him be the scruff of his neck and rub his nose in ‘the Turd’.”

            Yes, those winning contributions were from scholar and legend in his own mind… Bob Grierson

  2. On October 19, 2019 at 5:09 am,
    Excelsior says:

    As for Ecuador… it was just starting to pull it’s head up for a breath of fresh air a few years back, but lately there’s been enough turmoil to steer clear of the jurisdiction, when there are so many others without the concerns. No thank you…
    ____________________________________________________________________

    Two wings of the same bird: Crisis over fuel and subsidies in Haiti and Ecuador

    By Angel L. Rivera Agosto – October 08, 2019

    “Violent clashes broke out between protesters and police in both Haiti and Ecuador after the governments of both countries eliminated fuel subsidies, following the instructions of the International Monetary Fund. Latin America and the Caribbean has a long history of following policies imposed by the IMF as well as the World Bank as a condition to get loans and financial benefits from those two institutions. Those policies along with the foreign debt crisis have affected the continent for decades. The situation in Ecuador and Haiti are good examples of the direct impact of that in the everyday life of the people there. That is what we would call “two wings of the same bird.” It is two countries facing the same root cause of their problems.”

    “In Ecuador, President Lenin Moreno declared a “state of emergency” last Thursday following demonstrations against rising fuel prices, due to the government scrapping subsidies. Ecuador’s President Lenin Moreno announced Tuesday the elimination of gasoline subsidies, labor reforms, tax changes and other economic measures aimed at complying with the conditions of the loans granted by the International Monetary Fund (IMF).”

    https://www.globalministries.org/two_wings_of_the_same_bird_crisis_over_fuel_and_subsidies_in_haiti_and_ecuador

    • On October 19, 2019 at 5:11 am,
      Excelsior says:

      Australian solidarity blockade at BHP

      11 October 2019

      “The protest comes as Ecuador goes into a state of emergency with hundreds injured and at least 5 killed in one of the most serious uprisings Ecuador has seen in recent years. The unrest arose from resistance to IMF-mandated austerity measures that also allow greater freedom for foreign interests operating in the country, making mining companies such as BHP complicit in the use of military force to protect their business interests.”

      https://rainforestactiongroup.org/media/#australian_companies_complicit_in_unrest

      • On October 19, 2019 at 5:14 am,
        Excelsior says:

        Arsonists Attack Ecuagoldmining’s Camp In Ecuador

        Valentina Ruiz Leotaud | October 6, 2019

        “A campsite at the Río Blanco gold-silver project in southern Ecuador was set on fire this weekend by what operator Ecuagoldmining South America deems ‘terrorist attackers.’

        “According to the company, which is owned by Chinese investment firm Junefield Group S.A., the attackers took advantage of the surrounding chaos caused by a national strike action and forced their way into the camp carrying high-caliber guns. Once inside, they threatened security personnel and burnt a truck, tents and other items.”

        https://www.mining.com/arsonists-attack-ecuagoldminings-camp-in-ecuador/

        • On October 19, 2019 at 5:16 am,
          Excelsior says:

          Ecuador’s Government Flees Capital and Warns Of Coup Threat

          Bloomberg News | October 8, 2019

          “With Ecuadorian protesters infuriated by rising fuel prices occupying government offices and oil fields, the president and his administration fled the capital, warning of a coup.”

          “In a national address late Monday, President Lenin Moreno said he had moved the executive branch from Quito to the port city of Guayaquil due to security threats. The president said that allies of his predecessor Rafael Correa had infiltrated protests against increases in fuel prices in a bid to topple his government.”

          “They are the ones behind this coup attempt,” Moreno said, without providing evidence. “The looting, vandalism and the violence show that here there is an organized political intention to destabilize the government and break the democratic order.”

          https://www.mining.com/web/ecuadors-government-flees-capital-and-warns-of-coup-threat/

          • On October 19, 2019 at 5:19 am,
            Excelsior says:

            Ecuador Woes Weigh on SolGold’s Shares, Projects Future

            Cecilia Jamasmie | October 10, 2019

            “Worries around the fate of SolGold’s (SOLG) projects in Ecuador escalated this week after President Lenin Moreno, whose austerity measures set off violent protests, fled capital Quito and sought refuge in the southern port city of Guayaquil, triggering rumours of a coup d’État.”

            THE MINER HAS SEEN ITS VALUE HALVED SINCE MAY, WHEN A PROPOSED REFERENDUM ON MINING CASTED INITIAL DOUBTS ON THE FUTURE OF ITS PROJECTS AND ASSETS

            “The Australian miner has seen its value halved since May, when a proposed referendum on mining casted doubts on the future of its projects and assets. From the 37.60 pence its shares were trading on May 1st in London, they have fallen 17.20 pence as of Thursday morning, leaving it with a market cap of only 317.57 million pounds (about $393 million).”

            https://www.mining.com/ecuador-woes-weigh-on-solgolds-shares-projects-future/

          • On October 19, 2019 at 5:38 am,
            Excelsior says:

            SolGold (SOLG) – which it has a rich Copper/Gold deposit, has had a bunch of infighting from investors in the Cornerstone Capital Resources camp, and as they throw sticks and stones at each other about which management teams are more inept at moving things forward, which hasn’t helped their cause, especially in lieu of all the political upheaval lately in Ecuador.

            Add to that the trade wars squashing the Copper prices all year long and that hasn’t helped either. Still, there is significant Gold resources at Cascabel and both SolGold and Cornerstone Capital Resources have completely ignored the rise in Gold north from $1200 to over $1500 over the last year, which isn’t a show of strength.

            Here is a 2 year price chart for SOLG and it tells the tale of where Mr Market values this company.

            http://schrts.co/EivaACew

          • On October 19, 2019 at 5:44 am,
            Excelsior says:

            The contrarian investor mindset can likely see the set up for a bounce soon in Solgold and Cornerstone as the prices have pulled back so much, and there has been a great deal of arm-waving and press releases from them, Auriana, and Lundin Gold trying to calm investors nerves and tell folks “Everything is OK now…”

            They failed to cover how much their fuel costs just went up though, and how that will affect their cost inputs.

            The question is, will enough investors that just got bit bad for the last year, want to take on the jurisdiction risk on their projects, when there are so many other miners that they can put their hard earned money in with far less risk.

            It may be worth the contrarian punt to see if things improve in Ecuador over the next 3-6 months, and it may in fact put in a small rally, but there are just so many other jurisdictions free from the noise and nonsense of Ecuador, that it just doesn’t seem worth the candle.

            For those that wade in to those waters, good luck to you and keep a weather eye on the horizon for more upcoming political storms…

      • On October 19, 2019 at 5:22 am,
        Excelsior says:

        Ecuador’s President Rolls Back Austerity Measures That Triggered Protests

        Barbara Fraser – Oct 14, 2019

        “Ecuadorian President Lenin Moreno met with indigenous leaders and agreed to roll back austerity measures that had sparked 10 days of protests.”

        “Moreno agreed to rescind a decree he had announced the night of Oct. 2, which eliminated a $1.4 million annual fuel subsidy as part of a multibillion-dollar loan deal with the International Monetary Fund. Government officials said the cheap fuel had benefited criminal groups operating a lucrative cross-border trade in contraband gasoline to Peru and Colombia.”

        “After the subsidy was eliminated, however, diesel fuel prices nationwide more than doubled, and gasoline prices rose by about 30 percent. The sudden increase in transportation costs was expected to increase the costs of other products.”

        https://cruxnow.com/church-in-the-americas/2019/10/14/ecuadors-president-rolls-back-austerity-measures-that-triggered-protests/

        • On October 19, 2019 at 5:29 am,
          Excelsior says:

          How will those rising fuel prices affect the cost inputs for Ecuadorian miners?

          How will the recent security concerns at mine sites and oppostion by indigenous groups and local communities affect investors attitudes and sentiment on investing in Ecuaor?

          The tanking of Solgold and Cornerstone Capital’s share price are a pretty good indicator.

          (SOLG) is arm-waving that they got a deal done with the locals, but will it be enough to instill investor confidence?

          ____________________________________________________

          SolGold PLC Announces Deal reached in Ecuador

          @accesswire on 15 Oct 2019

          https://ceo.ca/@accesswire/solgold-plc-announces-deal-reached-in-ecuador

          __________________________________________________________

          With roughly 2,000 mining companies across various commodities and many of them located in Canada, the United States, Australia, Chile & Peru, Mexico – hell even in West Africa or Brazil which are quite risky, then why the hell would people want to risk going into Ecuador or Colombia or the Congo or South Africa when there’s already so much risk in just investing in resource companies. No thanks…

  3. On October 19, 2019 at 6:12 am,
    Excelsior says:

    Did The Move Into Safe Haven Assets Get Too Extended?

    KorelinEconomicsReport (10/15/2019)

    “Chris Vermeulen, of The Technical Traders kicks off today by looking at the recent downtrends in the safe haven assets. We look at the speed of the breakout and what the long term outlook is. To wrap it up Chris shares a trading strategy for #NaturalGas.”

    http://www.kereport.com/2019/10/16/did-the-move-into-safe-haven-assets-get-too-extended/

    • On October 19, 2019 at 6:13 am,
      Excelsior says:

      Watching Closely The Relationship Between the USD and GOLD
      KorelinEconomicsReport (10/16/2019)

      “Jordan Roy-Byrne joins to chat about the recent relationship between the US dollar and gold price. Over the past year the two have moved up together but today was a divergence of that trend. Not saying that this one day is the start of a new trend but a falling dollar could bring on all sorts of new risks that most are ignoring.”

      http://www.kereport.com/2019/10/16/watching-closely-the-relationship-between-the-usd-and-gold/

      • On October 19, 2019 at 6:19 am,
        Excelsior says:

        Rick Bensignor – Gold is Back in a Bull Market and Will Head Towards $1700

        by @PalisadeRadio on 17 Oct 2019

        https://ceo.ca/@palisaderadio/rick-bensignor-gold-is-back-in-a-bull-market-and-will-head-towards-1700

        • On October 19, 2019 at 6:21 am,
          Excelsior says:

          Jeb Handwerger – Now is the Time to Accumulate High Quality Juniors

          by @PalisadeRadio on 15 Oct 2019

          “We talked about the Gold market, investing lessons, and why Eric Sprott believes in the Gold and Silver junior miners.”

          https://ceo.ca/@palisaderadio/jeb-handwerger-now-is-the-time-to-accumulate-high-quality-juniors

          • On October 19, 2019 at 6:24 am,
            Excelsior says:

            Why Gold Investors Will Never Be The Same Again

            Oct 18, 2019 – Joe Mazumdar Co-editor, Exploration Insights

            “With gold prices having climbed higher this year, investors have flocked to senior producers instead of the juniors, favoring steady cash flow over speculation and this trend may shape miners’ priorities going forward, this according to Joe Mazumdar, co-editor, Exploration Insights.”

            “I think the majors have changed mindset thinking that it’s not about production profile, it’s about generating free cash flow and maintaining dividends,” Mazumdar told Kitco News on the sidelines of the 121 Mining Investment Conference in New York.

            https://www.kitco.com/news/video/show/121-Mining-Conference—October/2576/2019-10-18/Why-gold-investors-will-never-be-the-same-again#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.kitco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3D121-Mining-Conference—October

          • On October 19, 2019 at 6:26 am,
            Excelsior says:

            When Can Silver Take Off? This Needs To Happen First

            Oct 18, 2019 – Jon Lamb Portfolio Manager, Orion Resource Partners

            “Silver has been lagging gold, but if gold can hold current price levels, then the white metal can start to outperform, this according to Jon Lamb, portfolio manager of Orion Resource Partners.”

            “I think silver takes off if gold continues to stabilize at these levels, I think you’ll see more interest in silver. Gold miners are making a very good margin at $1,500, silver miners at $17.50,” Lamb told Kitco News on the sidelines of the 121 Mining Conference in New York.

            https://www.kitco.com/news/video/show/121-Mining-Conference—October/2577/2019-10-18/When-can-silver-take-off-This-needs-to-happen-first#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.kitco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3D121-Mining-Conference—October

          • On October 19, 2019 at 11:57 am,
            Excelsior says:

            Eric Sprott Weekly Wrap-Up (Oct 18, 2019) #AudioInterview

            “From the ongoing bank liquidity crisis to the Fed’s renewed QE program, there’s a lot happening in the world of precious metals. And as the U.S. slips towards recession, what can we expect from the final months of 2019?”

            “In this edition of the Wrap-Up, Eric Sprott breaks down all the gold and silver news”

            • The “huge problem” happening under the surface

            • Why the mining shares are lagging

            https://www.sprottmoney.com/Blog/the-looming-silver-shortage-isnt-the-only-huge-problem-weekly-wrap-up-oct-18-2019.html

          • On October 19, 2019 at 12:47 pm,
            Excelsior says:

            (DSV) (AYYBF) Discovery Metals Announces $17 Million Private Placement Including $5 Million Investment From Eric Sprott

            October 10, 2019

            “Mr. Eric Sprott has agreed to invest $5 million in the Private Placement. Mr. Sprott will purchase that number of Common Shares which will maintain his 19.9% interest in Discovery following the issuance of the Common Shares. The balance of Mr. Sprott’s investment will be completed with the purchase of Subscription Receipts, which if converted, will increase his interest in the Company to approximately 22%, assuming the Private Placement is fully subscribed.”

            https://www.dsvmetals.com/news/2019/discovery-metals-announces-17-million-private-placement-including-5-million-investment-from-eric-sprott/

          • On October 19, 2019 at 6:20 pm,
            Excelsior says:

            In addition to all the great exploration work that (DSV) Discovery Metals has been doing, their recent takeover of Levon resources was one of the more “under the radar” acquisitions I’ve seen in a while in the Silver sector.

            I was trying to debate a few months back whether to expand my Silver portfolio by investing in Levon or Discovery, and now that they are combined it made the decision really easy, and was adding a new position the end of last week.

            ____________________________________________________

            (DSV) (AYYBF) Discovery Metals Files Early Warning Report After Completing Acquisition Of (LVN) Levon Resources
            August 6, 2019

            https://www.dsvmetals.com/news/2019/discovery-metals-files-early-warning-report-after-completing-acquisition-of-levon-resources/

          • On October 19, 2019 at 6:22 pm,
            Excelsior says:

            For investors hoping to find bonanza grade exploration results this season in the Silver and Zinc space, this is what they look like:

            _________________________________________

            (DSV) Discovery Metals Announces up to 8,880 g/t Silver, 41.6% Zinc, and 43.2% Lead in High-Grade Channel Samples from Historical Underground Workings at the Minerva Project

            August 8, 2019

            https://www.dsvmetals.com/news/2019/discovery-metals-announces-up-to-8-880-g-t-silver-41.6-zinc-and-43.2-lead-in-high-grade-channel-samples-from-historical/

          • On October 19, 2019 at 6:48 pm,
            Excelsior says:

            Another company Eric Sprott touched on is his interview up above was on (BTR) Bonterra, exploring right next to Osisko Mining at Urban Barry & Windfall Lake.

            __________________________________________

            Bonterra Intersects High Grade Gold in New Zone at Moroy

            by @newsfile on 17 Oct 2019

            – 18.09 grams per tonne Au over 3.6 metres in hole MY19-158
            – 18.39 grams per tonne Au over 2.94 metres in hole MY19-161
            – 11.09 grams per tonne Au over 11.41 metres in holes MY19-166

            https://ceo.ca/@newsfile/bonterra-intersects-high-grade-gold-in-new-zone-at

          • On October 19, 2019 at 11:09 pm,
            Excelsior says:

            Lion One Targets High-Grade Feeders Beneath Tuvatu Alkaline Gold Resource

            October 1, 2019 – “Lion One Metals Limited (LIO) (LOMLF) is pleased to announce the start of its high-grade feeder diamond drill program at the Company’s 100% owned and fully permitted Tuvatu Alkaline Gold Project in Fiji.”

            “The first drill hole, TD01, is an 800m long hole designed to target down dip extensions near the center of the current resource in an area where an extremely high-grade feeder structure appears to be coalescing. Nearby drill hole TUDDH-160 intersected 1,614 g/t Au over 0.50m within a broader interval of 367 g/t over 2.92m, from 333m down hole depth. ”

            Lion One technical advisor Quinton Hennigh commented: “this high-grade feeders drill program enables Lion One to test the alkaline gold model that we believe drives the expansive gold system within the Navilawa Caldera. We believe the deeper potential beneath the current Tuvatu resource combined with the more extensive potential of other targets within the Company’s new license area within the Navilawa Caldera creates a great opportunity for Lion One to demonstrate Tuvatu’s potential tier-one gold asset status.”

            https://liononemetals.com/2019/10/lion-one-targets-high-grade-feeder-beneath-tuvatu/

          • On October 21, 2019 at 2:08 am,
            Excelsior says:

            (SVM) Silvercorp Intersects 1,211 g/t Silver, 11.58% Lead and 0.92% Zinc Over 1.34 Metres From Its 2018-2019 Drilling Program at the LMW Mine, Ying Mining District, China

            by @nasdaq on 15 Oct 2019

            https://ceo.ca/@nasdaq/silvercorp-intersects-1211-gt-silver-1158-lead

          • On October 21, 2019 at 5:34 am,
            Excelsior says:

            Eric Sprott Announces Holdings in Metallic Minerals Corp. (MMG) (MMNGF)

            by @newsfile on 21 Oct 2019

            https://ceo.ca/@newsfile/eric-sprott-announces-holdings-in-metallic-minerals

      • On October 19, 2019 at 6:35 am,
        Excelsior says:

        Bob Moriarty: There Is No Rush Like A Gold Rush

        by Ceo Technician (@Goldfinger) – October 19, 2019 – Energy and Gold Ltd

        >> Bob Moriarty: “Look at gold.”

        > Goldfinger: “Gold’s dropping.”

        >> Bob Moriarty: “Look how much it’s dropping.”

        > Goldfinger: “Yeah, about 1%.”

        >> Bob Moriarty: “Well, here’s what’s really funny, if you remember. How many times in the last six months have we done interviews and I said, “Look for the markets crash in October.” As optimistic as people were on gold and silver, I maintained all along, we’re going to have a correction. We’re going to go down until we get a day with a DSI for gold below 10, it will probably be mid-December.”

        “We’re not in the strongest period of the year for gold and silver. We’re in the weakest period of the year and we’re going to correct until the excess of psychology has been squeezed out of the market. We are so close.”

        “Look what the FED did with QE-infinity. When it started up I think it was $53 billion the first day and it was $75 billion the second day, and then, well we’re going to do this through November. Now they’re talking about buying T-Bills through the second quarter of next year. Something is percolating underneath the surface and it’s going to blow and it’s going to blow PDQ..”

        http://energyandgold.com/2019/10/19/bob-moriarty-there-is-no-rush-like-a-gold-rush/

        • On October 19, 2019 at 8:26 am,
          SilverDollar says:

          Hey Excelsior:
          Just want to thank you for posting the two discussions between Bob and Goldfinger. There is a lot out there in etherland that many of us don’t see.
          Anyway, I generally like and agree with Bob’s comments on PMs. His political comments though are another case entirely. Like most of us, his bias’ control much of the narrative he creates. His thoughts on trump throwing the Kurds under the bus is juvenile and yes, I know he’s in his seventy’s. One can argue we had no right to be in Syria but neither did several other groups. I believe we did help destroy ISIS which was good for everyone but then we didn’t finish it by leaving the captives in prison camps. Trump acts like it isn’t a problem with a few thousand fighters of ISIS roaming the world. We used the Kurds to save our own blood and could have gotten out with a more planned exit that that which trump dreamed up. Allies still count but down the road, if and when the fighting comes, we likely will be on our own………except for scum like Saudi Arabia. JMO

          • On October 19, 2019 at 9:27 am,
            Excelsior says:

            Thanks for the response back, and it is interesting to get everyone’s thoughts and hear their unique perspectives, so I appreciate both Bob M’s thoughts, and Goldfingers throughts, and your throughts.

            As for the Kurds in Syria, these were not the same kind as the Kurds the US fought with in Iraq that are pro-America or freedom (not that the US needed to be involved with Iraq either). These Kurds in Syria are Marxist Communist terrorists, and while they helped fight ISIS, that whole narrative was BS from the get go. What is ridiculous is that ISIS was a US and UN Frankenstein to begin with, so I don’t go for the whole “we got to get the bad guys” narrative and or ISIS is the boogeyman and the US and Kurds are the “good guys.”

            Bottom line, everyone claims they wanted to the troops to come home, from Liberals to Libertarians, and while prior leaders like the Regans, Bushes, Clintons, Obamas, couldn’t make it happen, at least Trump did bring the troops home. It’s about a popular as a lead balloon, but something tells me if Obama had done this, the press would have been much more supportive of the concept. Mr Nobel Peace Prize, Obama, claimed he wanted to bring the troops home, but only went on to bomb more countries, and start more skirmishes than the dismal world leaders prior his reign. At least Trump actually did something about bringing home the troops, and those Kurds and the concept of ISIS is not worth the US fighting for in foreign lands. It’s a mess that very much instigated by the US and UN and it’s time to quit meddling in other countries destinies.

            The US is not the world police, and has plenty of problems at home and defending their own borders or getting a cohesive plan together, so it has no business trying to force its will on other countries or people.

          • On October 19, 2019 at 9:35 am,
            Excelsior says:

            Silverdollar – I do agree with you that likewise the other countries like Turkey and Russia also had no business interefering in Syria. The whole thing stinks from the head down…

          • On October 19, 2019 at 11:44 am,
            b says:

            Russia was asked by Assad to help out.
            The americans are there illegally.

            The americans have not pulled out of Syria, they simply have withdrawn from the border with Turkey.

            The americans are still at Al -Tanf, this is far from an american withdraw from Syria, maybe it will develop into one but that remains to be seen.

            Al-Tanf is also not the only american base in Syria.

    • On October 19, 2019 at 10:16 am,
      Excelsior says:

      INFLATION BREAKEVENS: A CORE HOLDING

      2019-09-18 – The Macro Tourist #TIPS #inflation breakevens

      “One of these days, society will wake up to the understanding that monetary policy is ineffective at kick-starting the economy and fiscal stimulus will begin in earnest. It will be effective. Too effective. For a variety of reasons it will seem like a free lunch…. at least for a while.”

      “Now don’t get me wrong. It will be abused. Just like monetary policy has been abused (negative rates throughout much of the world is an abomination we should be ashamed of), fiscal stimulus will be taken too far.”

      https://www.themacrotourist.com/posts/2019/09/17/breakevens/

      • On October 21, 2019 at 2:05 am,
        Excelsior says:

        The Real Reason Gold Is Surging, and Why It Won’t Stop

        Sam Bourgi – October 20, 2019

        “Geopolitics, monetary policy and a slowing economy have all been cited as primary factors behind gold’s bullish breakout in 2019. While these catalysts cannot be discounted, the real reason gold is surging and why it will continue to do so is the trend in real interest rates relative to inflation.”

        “Only by understanding this relationship can one make sense of gold’s rock-solid performance in the face of a rising dollar.”

        https://www.ccn.com/the-real-reason-gold-is-surging/

  4. On October 19, 2019 at 7:19 am,
    Excelsior says:

    South Africa to Increase Coal-Fired Energy, Sparking Climate Outcry

    October 18, 2019

    “Africa’s biggest polluter and most industrialised nation was facing rolling blackouts—in part due to ageing coal plants—as the government released its energy blueprint for the next decade.”

    “Mineral Resources Minister Gwede Mantashe unveiled the long-awaited Integrated Resource Plan, saying “coal will continue to play a significant role in electricity generation.”

    https://phys.org/news/2019-10-south-africa-coal-fired-energy-climate.amp

    • On October 19, 2019 at 9:29 am,
      Excelsior says:

      Brandon Munro: The Data Shows Us That Uranium Has To Head Much Higher

      Palisade Radio – (09/19/2019) #AudioInterview

      “Brandon discusses the improving tone of the uranium industry that he is seeing while attending the London World Nuclear Association Symposium.”

      0:40 – WNA Symposium Conference.
      1:50 – Trump and China
      3:30 – Investor misconceptions
      7:00 – $35-$40 Uranium could surprise
      9:00 – New types of reactors.
      13:30 – What will the bull market look like.
      21:30 – #Nuclear Fuel Report

      https://palisaderadio.com/brandon-munro-the-data-shows-us-that-uranium-has-to-head-much-higher/

      • On October 19, 2019 at 9:30 am,
        Excelsior says:

        DOE, NRC collaborate on advanced reactor deployment
        17 October 2019 – World Nuclear News #Uranium

        “The primary purpose of the MoU is to coordinate DOE and NRC technical readiness and sharing of technical expertise and knowledge on advanced #nuclear reactor technologies and nuclear energy innovation, including through the National Reactor Innovation Center (NRIC),” the MoU states.

        “The United States has the technology, expertise and facilities to lead the world in developing next-generation reactors,” said Rita Baranwal, assistant secretary for nuclear energy at the DOE.

        http://www.world-nuclear-news.org/Articles/DOE-NRC-collaborate-on-advanced-reactor-deploymen

        • On October 19, 2019 at 9:32 am,
          Excelsior says:

          U.S. Energy Secretary Says Cabinet-Level Group Will Boost Domestic Uranium Mining

          Reuters – Timothy Gardner – October 16, 2019

          “U.S. Energy Secretary Rick Perry said on Wednesday he believes a cabinet-level working group set up by President Donald Trump will make recommendations that will revive domestic mining of uranium for nuclear power plants.”

          “Separately, Perry declined to say, through a spokeswoman, if he would cooperate with three U.S. House committees that asked him to turn over documents by Friday in their impeachment probe of Trump.”

          When asked whether the Nuclear Fuel Working Group, which Trump set up in July, would produce recommendations that adequately boost the industry, Perry told reporters. “I do.”

          https://business.financialpost.com/pmn/business-pmn/u-s-energy-secretary-says-cabinet-level-group-will-boost-domestic-uranium-mining

  5. On October 19, 2019 at 9:23 am,
    Matthew says:

    Based on weekly closes, the gold miners haven’t made a new low in 5 weeks (26.65 on 9/13/19) and the intraday charts point to imminent further upside.
    https://stockcharts.com/h-sc/ui?s=GDX&p=W&yr=3&mn=6&dy=0&id=p60610935702

    • On October 20, 2019 at 7:16 pm,
      Dan, calgary says:

      I drew a bunch of lines on this chart at home and there is a confluence of triangular points by the end of October IMHO. I don’t have an account so couldn’t save my annotations. I think it breaks downward; good for silver.

      https://stockcharts.com/h-sc/ui?s=$GOLD:$SILVER

      • On October 21, 2019 at 6:54 am,
        Matthew says:

        I think you’re right and that’s good for the whole sector.

  6. On October 19, 2019 at 10:45 am,
    David says:

    I have been enjoying the Korelin Report for years and have never posted before and i would like to thank Cory and Al and all the regular guests for their tireless work.
    As a PM investor KER is my go to source for daily market opinions.

    Having said that i would also like to thank Excelsior and Matthew as well. Both are very valuable contributors here in my mind, Excelsior for fundamentals and Matthew for charts.

    Personally i learn a lot from both of you fellows so thanks you, your work is always appreciated.

    • On October 19, 2019 at 6:15 pm,
      Excelsior says:

      Thanks for the kind words David and good to have you here posting on the KER.

      Yes, I agree that Matthew is a charting champion and learn from his posts every week.

      Ever Upward!

      • On October 19, 2019 at 10:13 pm,
        Matthew says:

        Thanks Ex, I wish I felt like a champion.

        • On October 19, 2019 at 11:01 pm,
          Excelsior says:

          Matthew – I follow a number of technicians and you’re the best around:

          https://youtu.be/oomCIXGzsR0?t=33

          • On October 20, 2019 at 11:30 am,
            Matthew says:

            Thanks, what a clip! The ’80’s get funnier as time goes on…

          • On October 20, 2019 at 1:38 pm,
            Excelsior says:

            Agreed. 🙂

        • On October 25, 2019 at 7:54 pm,
          paul says:

          But instead you are ass clown.

      • On October 20, 2019 at 11:43 am,
        David says:

        Thanks Excelsior, i thought it was a good time to pipe up with some encouragement…here’s to an exciting next few years!

        • On October 20, 2019 at 1:37 pm,
          Excelsior says:

          I appreciate it David, considering the trolling going on up top.

          Yes, we truly are poised for a few more good years in the Precious Metals and eventually the Base Metals and Energy Metals sectors.

          May your investing and trades be very prosperous.

    • On October 19, 2019 at 10:12 pm,
      Matthew says:

      David, thank you and you’re welcome.

      • On October 20, 2019 at 11:47 am,
        David says:

        Matthew, thank you again, i am part of the silent mob that is appreciating your input. I believe we will in for quite a ride in the PM space and clear concise charting helps with my decision making. All the best and GLTA.

        • On October 20, 2019 at 1:46 pm,
          Matthew says:

          David, I appreciate that and agree that we are in for quite a ride. Best of luck to you.

  7. On October 19, 2019 at 11:43 am,
    Matthew says:

    There’s a very good chance that we’ve already seen the corrective low for the miners and speculative SILJ is bullishly the rest of the mining ETFs with its 5% gain this week and close above the 5 week EMA.
    The drop to the 25 week MA support came with a normal 50% Fibonacci retracement:
    https://stockcharts.com/h-sc/ui?s=SILJ&p=W&yr=3&mn=11&dy=0&id=p12779886218&a=694218332

    • On October 19, 2019 at 11:48 am,
      Matthew says:

      Typo: SILJ is bullishly *leading* the rest…”

  8. On October 19, 2019 at 11:55 am,
    Ebolan says:
    • On October 19, 2019 at 12:48 pm,
      Ebolan says:

      Dang it, should be good luck to everybody!

  9. On October 19, 2019 at 6:29 pm,
    Excelsior says:

    Why Gold Mining Companies Habitually Destroy Capital (w/ James Rasteh)

    Real Vision Finance • Oct 17, 2019 #VIDEO

    “James Rasteh of Coast Capital Management is a deep-value investor who has turned his sights on the gold miners. He points out that these stocks have destroyed billions of dollars in capital, and have chronically underperformed the gold price, even during rallies. According to Rasteh, the managers are the problem, and yet they have paid themselves millions. He says it’s now time for a change. ”

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

    • On October 19, 2019 at 6:31 pm,
      Excelsior says:

      Why Investing in Gold Is So Critical & the Future of Money (w/ Grant Williams and Josh Crumb)

      Real Vision Finance • Oct 19, 2019 #VIDEO

      “Josh Crumb of Goldmoney provides a unique take on the monetary attributes of gold, making the argument for investing in the precious metal, rather than saving. Getting beyond the true religion of gold ownership, Josh looks to the future of money and the intersection between gold and cryptocurrencies.”

      https://www.youtube.com/watch?v=vkQJGZIcU7M

      • On October 20, 2019 at 3:02 pm,
        Excelsior says:

        Gold Could Get a Boost From a Weak Dollar

        By Randall W. Forsyth – Oct. 19, 2019

        “But there is a more positive monetary backdrop developing from lower short-term interest rates and a weaker dollar. And that would be bullish for most risk assets, including U.S. stocks, emerging market debt and equities, and commodities—notably precious metals.”

        https://www.barrons.com/articles/gold-could-get-a-boost-from-a-weak-dollar-51571447883

  10. On October 20, 2019 at 3:28 pm,
    Excelsior says:

    Despite Dollar Weakness Gold Cannot Overcome Selling Pressure

    October 18, 2019 – Gary Wagner #TechnicalAnalysis #Chart #VIDEO

    https://thegoldforecast.com/video/despite-dollar-weakness-gold-cannot-overcome-selling-pressure

  11. On October 20, 2019 at 4:59 pm,
    markedtofuture says:

    Fidelity Digital Assets Opens to All Qualified Investors

    https://www.coindesk.com/fidelity-digital-assets-opens-to-all-qualified-investors