Big picture thoughts on gold, US Dollar, and US markets
Chris Temple joins me on this holiday Monday in Canada to share his broad comments on the gold market and gold stocks (especially the juniors) as well as the US Dollar.
Click here to visit Chris’s site and learn more about his newsletter.
OOTB i had to look up what KISS stood for, man i must be old i remember seeing them in concert…
Thanks Corey for all your hard work here, much appreciated
Rene….. good one…. 🙂
Just in case we have some young ones here………..
KISS……..means…..in salemanship…….KEEP IT SIMPLE STUPID….KISS…. 🙂
Jerry…we got an election coming up…let’s send the baboons to DC…with knives…
https://www.dailyrecord.co.uk/news/scottish-news/baboons-armed-knives-visitors-wreak-22420238
Send the monkey with the chainsaw to Pelosi first….. 🙂
I tell you Jerry, we need to airdrop thousands of baboons armed with knives, chainsaws and excrement into the District of Criminals…and let them have at all the politicians and lobbyists…and other Deep State swamp creatures…
Ebo……..I agree 100%…….
Only, thing there are morons, liars, and crooks…..
Ebolan – Wow what a article!
“Animal keepers at a safari park believe visitors are “arming” baboons with tools such as knives, screwdrivers and a chainsaw to wreak havoc on cars.”
“The baboons at Knowsley safari park in Merseyside have been known to rip off windscreen wipers and wing mirrors from the cars of visitors.”
But it has been claimed some visitors are trying to help increase the damage caused to vehicles by the animals by supplying weapons “for a laugh”.
______________________________________________
Haven’t these people seen Planet of the Apes?
I agree, Ex. Now if we can just arm the baboons and send them to DC!
Ebolan – we already have…. They’re called Congress.
Matthew, glad to hear you like MUX now. I have owned it many years, ever since Rob took over. He made me a lot of money at GG and I want to own any company he runs. I am in the red now but have faith that one day MUX will rise to the broad sunlit uplands.
bonzo – I hear ya. I got back in MUX a few weeks back giving Rob and team yet a 4th chance to get their act together and get their operations turned around. They’ve had years of stalls, setbacks, missed guidance, and a personnel switch around. I’m rooting that from here they can get their ship turned around.
> Maybe 4 times a charm? With the higher metals prices they should be popping more than they have, so they seem rather undervalued here, but I want to see them deliver for a few quarters and get things back on track. #TurnAround play.
Cory, didn’t know today is a holiday in Canada. How many holidays do Canadian workers get?
Here in the US it’s typically 10 days: New Year’s Day, MLK Day, President’s Day, Memorial Day, 4th of July, Labor Day, 2 days at Thanksgiving and 2 days at Christmas.
We should blame Canada that US doesn’t have more holidays and for everything else. 😉
Blame Canada – South Park (musical)
Auryn still ripping on the takeover news. AUN up over 12% today.
Strangely enough the Eastmain shares are trading a very large arbitrage to what they will be valued at pro-rata after the merger into Fury Gold (even today in the US OTC market). It seems like a very large disconnect. Someone get Jayant Bhandari on the case. 🙂
MTA Metalla has been up bigly today as well up 13-17%, which is a huge move for a royalty company. It’s moving more than most of the Gold Jrs. Very impressive.
Sorry I meant AUG for Auryn is up 12% today.
(It’s a force of habit after typing AUN so many times for Aurcana).
The exchange rate is .165 shares of Auryn for each Eastmain Resources shareholder.
The current valuation has those Eastmain shares only at about 55% of where they should be valued. That’s a big gap. Normally there can back a 5-10% arbitrage on a takeover, due to the uncertainty of if the deal will fall through, but this is one of the larger valuation gaps I’ve seen. Why would traders add more Auryn here when they can pick up Eastmain at such a huge discount?
Ivan Bebek of (AUG) Auryn Resources Explains the Transformative Acquiring of (ER) Eastmain Resources
MiningStockEducation – August 3, 2020
1:12 Why merge with Eastmain Resources in addition to spincos?
4:49 How soon could Fury Gold Mines see cashflow?
7:08 Fury Gold Mines CEO Michael Timmins
9:57 Meaning of the name “Fury”?
10:26 Ivan Bebek will be the chairman of Fury Gold Mines
11:01 What’s most likely to go wrong?
11:48 Arbitrage opportunity in Eastmain shares
13:13 Spincos clear branding coming
14:58 Burn rate will decrease
15:39 More M&A to come?
18:16 We want to deliver $10-20 share price per company
22:43 Ivan’s role in spinco companies
27:23 Buy AUG before record date in order to get spinco shares
Robintrack for (AUG) Auryn. The amount of new shareholders has been growing with the shareprice all year. In early January 2020 there were about 200 Robinhooders and now there are about 1480 Robinhooders. I’m sure we’d see stats like this on most other trading platforms, but things have been heading in the right direction.
Thanks for posting the interview with Ivan. Maybe the arbitrage is so large people are more interested in the spin out shares offered by AUG. I already have most of what I want in AUG, but maybe I’ll buy a little Eastmain. I really like the copper and silver projects though and the fact they are looking to acquire some more silver plays before the silver shares go public in January makes me tempted to buy more AUG. Good job buying the dip last week Ex on the news.
Thanks Charles. Yes, once I saw the takeover news break and the Auryn shares sell off, I bought, and then later in the day on Friday the moved higher again, and then today surged. I still want to add more, but feel most investors are going to hang onto their shares for the 2 spinout companies as you mentioned. I may add some Eastmain to the mix for a short-duration arbitrage trade, wait for them to get valued higher and then sell the Eastmain and move the profits over to Auryn, and thus get a double whammy on that portion.
Auryn Resources: 1 + 1 = 3
Aug. 3, 2020 – Laurentian Research
Auryn apparently got a good deal in Eastmain, whose key asset is the high-grade Eau Claire gold deposit, Quebec, which has great economics according to a PEA.
Eau Claire will be combined with the Homestake Ridge and Committee Bay projects to form Fury Gold Mines, a Canada-focused high-grade gold explorer/developer led by Michael Timmins.
The acquisition of Eau Claire strengthens the argument to keep Fury shares upon the closing of the transaction. Currently, there’s an arbitrage opportunity in Eastmain.
The Peruvian assets will become two separate Spincos for future IPO. For investors who want exposure to these blue-sky opportunities on the cheap, the next few weeks may be the window of entry.
https://seekingalpha.com/article/4363922-auryn-resources-1-1-3?
Good point Exc , maybe its due to the fact that robinhooders are able to get Auryn on the US exchange?
Yes, the dual listing for AUG Auryn definitely helps, and the Auryn holders get the immediate holding cusip for the 2 Peruvian companies once the transaction closes, where the Eastmain -> Fury holder have to wait until those companies actually list with the official ticker to access them. Even then, the trading arbitrage between where Eastmain should be at .165 of Auryn is deeply discounted, and Ivan & Bill Powers mentioned it in the interview above, and the Laurentian Research piece listed above mentioned it. I likely be on the bid for Eastmain tomorrow.
Maybe I’m misunderstanding the deal but isn’t the reason that it’s trading at a discount is because eastmain shareholders aren’t getting any shares of the 2 spincos in Peru and that’s what the difference is. The value of the 2 spincos
Yes, that’s part of the difference, but the arbitrage is far larger from Eastmain to Auryn, than just the value of those 2 spin cos, and each Eastmain shareholder gets .165 Auryn shares so ER is trading at about half of where it should be.
Taylor Dart just put out a negative article on Auryn
Almost 3/4 of the articles Taylor puts out are negative, and his way of doing valuations and ounces in the ground based on industry averages doesn’t always correlate with how the market prices stocks, negates the companies exploration to continue expanding the resources, and often gives no value to earlier stage development or exploration properties. With the Balmoral acquisition by Wallbridge he gave $0 to their Grasset Nickel project, and Taylor also said Great Bear & Pure Gold were fully priced months ago, and yet they’ve both kept climbing higher.
What is it I don’t know. Schwab account shows only a very few stocks with trading activity and footnotes all the rest with an “8” indicating incomplete. But, if you go to OTC Markets, you can find trading activity. For example, on Schwab, Banyan Gold shows an ask price of .2054 on 7/31/2020 but nothing for 8/3/2020. On OTC markets it showed a last sale of .3309, up 57% and trading volume over 100,000 shs. The Holiday is in Canada and Schwab is in US. The Canadian miners are trading on the OTC but no recognition from Schwab. What don’t I know?
And yes, I put in a bid to buy some Banyan at higher than the Ask shown on Schwab but a lot lower than the Ask on the OTC Markets site, and no…I haven’t got a buy.
Schwab screwed me last week. I had an order to buy LOMLF@ 1.57. 3 other places said it traded as low as 1.51 that day, but my order was not filled.
Sounds like it’s time to fire Schwab.
USAA sold out to them and I think TD Ameritrade is next. Is interactive brokers any good?
I’ve used many brokers simultaneously but IB has been my favorite since 2007. You can trade virtually any market you want, no more 5-digit symbols and the bs that comes with them!
Thanks Matthew. Hood info for trading accounts.
Hood = Good
Schwab has been flakey today for me too. At times no update on price changes.
I read this & dont know wether to laugh or cry.
Feck it , i am going to do both……Man this guy is a MORAN.
https://www.zerohedge.com/economics/kashkari-says-only-way-save-economy-lock-it-down-really-hard-6-weeks
Just another LIAR……FED SCUM BAG…..
FED and Friends. ………are raping the country……..They have created HELL ON EARTH…
The USA debt goes up $1,000,000 ever 22 seconds…….think about this…….
If, you do not believe me go look at the usa debt clock….. 🙂
Here is a grabber…… 18.6 million
The number of millionaires in the U.S. in 2019,………. LOL………
Cmon Jerry, Whats a few Trillion more.
Hello John….. 🙂
Think about this……………in less than 7 mins……..the debt racks up the entire wealth of 18.6 million people……lol
Or ALL THE WEALTH of every Millionaire….. 🙂
Now, that should be …..or steals a million from every millionaire, in 7 mins ….of course if you have multiples of million…….you can go a few more minutes …….before sucking you dry.
Can anyone say…………DEBT JUBILEE………..
The Obama Plan……Pelosi for VP……vampire princess……
Kashkari is a former Golden Sachs guy.
I’m not at all afraid of the ‘fickle’ investors that are jumping in to the PM markets. Their dollars are just as round as everyone else and likely motivated like many in simple looking for an easy buck………hope they make it. Once hooked, you may be a buyer for life! jmo
Not so sure the new investors will bail on a downturn in gold. Look at RobinTrack website. Robin Hooders have not bailed on GDX or GLD despite several sharp corrections in the stocks.
I would tend to agree with you Kenny……….
because, there is a whole lot more information available, …from people who have gone through the war…..multiple times……And Yes , this time is different.
Somebody missed the last move in gold big time……
Opened and closed the same…..gold problem , no problem, better get some more.. 🙂
Must be that trade sideways…… 🙂
Solid Gold Opening/Closing 84-85
You are going to get Irish in trouble… 🙂
Haha!. That naughty leprechaun.
@Goldfinger “This sort of says it all ~~~> ”
http://cdn.ceo.ca/1figrdn-32BC50CD-42D4-4086-B72C-4BC0E559A109.jpeg
Looks like another cup getting started….. 🙂
Yes, it is high time to filleth the cupeth…. until the cupeth runeth over…
I think this kind of says it all………. 🙂
https://www.zerohedge.com/political/records-prince-andrews-location-night-molestation-destroyed-police
Who are your leaders……the Queen is not going down without a fight…..
One big con game..
Looks like the Prince is not coming to the US…..lol
God Save The Queen – S. P.
🙂
Ex / Jerry….I did like Jonny Rotten………….
Went into my local pub two weeks ago when it reopened. After this corona s88t lock down. Here in the Uk we have to give our names / addresses / & phone numbers , so we can be contacted in case anybody in the pub tests positive with this virus.
Nick the landlord, said tony you have to do this , otherwise i could be locked down again….I said fine Nick i will do it ..So i did.
Name….T Queenie.
Address…. Flat one buck house the mall sw1.
Contact no…..007mi5mi6.
Nick looked at me & grinned, & said …tony you are a f888ing rebel…then i grinned.
Bo88icks….Bo88icks to the lot of them.
haha! Nice one IrishT or T Queenie…
Yes, one must do what they can to gain access back to the pubs.
Bol8icks to the lot of them is right.
Good for you TONY………. lol …….. that is a good one… 🙂
The world needs a lot more push back…….
NSRPF was 2.59 on Thurs and is now 3.29; AUG and CNRIF had big moves today too.
Hooray!
Michael Ballinger calling for a pullback.
https://www.theaureport.com/article/2020/08/02/precious-metals-landmine.html
Eastman Kodak top executive got Trump deal windfall on an ‘understanding’
Mon Aug 3, 2020 – Jessica DiNapoli and Tom Bergin
“Eastman Kodak Co on Monday granted its executive chairman options for 1.75 million shares as the result of what a person familiar with the arrangement described as an “understanding” with its board that had previously neither been listed in his employment contract nor made public.”
“One day later, the administration of President Donald Trump announced a $765 million financing deal with Eastman Kodak, and in the days that followed the stock soared, making those additional options now held by executive chairman Jim Continenza worth tens of millions.”
Of all the high flying mania stocks on RobinTrack, it looks like Kodak was the only one that lost some Robinhooders over the last 3 days.
The rest of the tech and lunatic stocks like Microsoft, Apple, Amazon, etc… continue to have investors piling in.
Perfect Storms for Precious Metals, Now in Blue Sky Territory – David Erfle
Crush The Street – Aug 3, 2020
Jeff Klenda #01 – Russian Uranium Use by US Utilities is Unpatriotic
Crux Investor – Aug 1, 2020 #VIDEO
Schwab account finally showed todays individual stock performance and it was a good day.
As per Sprott, bullion banks are net short 900 million ounces of paper silver. So, where is the REAL DEAL going to come from? Certainly not Real Madrid
The Dollar Standard Slipping Out of Control?
Alastair Crooke – August 3, 2020
“The U.S. ubiquitous ‘asset bubble’ is famous. Central Bankers have been worrying about it for years. And the Fed is throwing money at it – with abandon – to keep it from popping. But as indicated earlier, such bubbles are highly vulnerable to psychology – and that may be turning, as the celebrated V-shaped, expected economic recovery recedes into the virus-induced distance. But for now, investors believe that the Fed daren’t let it implode – that the Fed has absolutely no option but go on throwing more and more money at it (at least until November elections … & then what?).”
https://www.strategic-culture.org/news/2020/08/03/the-dollar-standard-slipping-out-of-control/
And great bear drills keep going
https://ceo.ca/@newswire/great-bear-drills-8122-gt-gold-over-1050-m-at-bedrock
Another solid drill hit from Great Bear.
Platinum and Gold…………….1 to 1 finally…………….
sorry…….Palladium …..not platinum
A letter from a British Doctor…
https://paulspradbery.blogspot.com/2020/07/covid-19-from-frontline.html
Exactly………”exaggerated”……..on the virus …..is spot on……
Fauci…..stands to make millions, maybe billions…..since he has invested $500million on the vaccine, and owns 1/2 patent ……(quoted by Kennedy)
All lies ……
the sheep, are just so stupid…..again…..it is pathetic…….
oops………..sorry……….we should have posted this in the political section…..sorry guys…
Good morning everyone,nice and green on the screen today, i see SantaCruz is still not trading?
Needless to say, for Turkey to resort to such draconian “Plan Z” measures where it effectively nationalizes the FX market, it means that its economy is on the verge of collapse,
Example……of what is going to happen here……..
That could not be further from how most economists see the Turkish picture. The collapse in tourism as a result of the coronavirus pandemic has left a gaping hole in the country’s finances.
Houston………..we have a problem…………Black Mayor, needs the cash to run the city, JMO
https://www.zerohedge.com/political/houston-mayor-orders-250-fines-people-who-refuse-wear-masks
These fellows at Alhambra investments seem to think the dollar is just fine, its the euro that is strengthening in the basket of currency
https://www.youtube.com/watch?v=MOqsyuyZg9A
RENE……………that was a GREAT VID………..appreciate you posting it,…..
gives a whole different light on the death of the dollar…..
Those guy were very informative…..I intend on putting them on my ..listen list….
By the way……thanks for participating in the KER.
guys…….not guy……sorry
(MAI) (MAIFF) Minera Alamos Completes Definitive Agreements to Acquire the Cerro De Oro Gold Project, Zacatecas, Mexico
by @newsfile on 4 Aug 2020
“The Cerro de Oro gold project has many characteristics that mimic the El Castillo gold mine our team developed under the Castle Gold Corporation banner from 2007 until its eventual sale in 2010,” stated Darren Koningen, CEO of Minera Alamos. “Cerro de Oro contains a large disseminated gold system with a significant oxidation profile and a low implied strip ratio with the majority of mineralized areas outcropping at surface. Northern Zacatecas has a rich mining history and hosts some of the largest gold deposits in north-central Mexico. We look forward to working with the local community and Mexican mining authorities to rapidly advance permitting and establish a new mine in the district.”
https://ceo.ca/@newsfile/minera-alamos-completes-definitive-agreements-to-acquire
(MAI) (MAIFF) Minera Alamos – New Corporate Presentation:
(NRN) (NSHRF) Northern Shield Acquires Extensive Alteration System Hosting Gold-Silver in Newfoundland
by @newswire on 4 Aug 2020
https://ceo.ca/@newswire/northern-shield-acquires-extensive-alteration-system
(TML) (TSRMF) Treasury Metals Announces Additional Drilling By (FF) First Mining Gold at the Goldlund Gold Project, in Ontario, Canada
by @newswire on 4 Aug 2020
https://ceo.ca/@newswire/treasury-metals-announces-additional-drilling-by-first-b1877
(FF) (FFMGF) First Mining Intersects 173.8 g/t Gold over 1.0 Metre at the Goldlund Gold Project, Ontario, Canada
by @accesswire on 4 Aug 2020
https://ceo.ca/@accesswire/first-mining-intersects-1738-gt-gold-over-10-metre
Thanks Exc, so much info to digest again…great
Yes that high grade hit is both good for Treasury and First Mining.
I must have owned a predecessor of treasury. I own some shares but never bought it…
I’d been pointing out all year how undervalued Treasury Metals was as a developer, considering the higher gold prices, but they had been forgotten about until First Mining agreed to sell them Goldlund for a big stake in TML. Now with the combined assets of both adjacent projects, Goliath & Goldlund, Treasury is going to be a beast, and will have an economic mine being built (likely by a larger company that takes them over or JVs the project with them).
(DV) (DOLLF) Dolly Varden Targets High-Grade Silver with 10,000 Meter Drill Program
by @newswire on 4 Aug 2020
“Multiple silver-rich mineralizing systems, deposits and past-producing mines present many target options for exploration at Dolly Varden,” said Shawn Khunkhun, President and CEO of Dolly Varden Silver. “We are ramping-up our exploration for the 2020 field season and will keep our shareholders updated regularly on results. Our priority is the discovery of more high-grade silver mineralization, which we expect to accomplish with 80% of drilling at new targets and 20% in high-priority resource expansion areas. It is exciting to have a geological team with so much experience and historic success in this region, added Shawn.”
https://ceo.ca/@newswire/dolly-varden-targets-high-grade-silver-with-10000
(FISH) (SROYF) Sailfish Provides Update on Gavilanes Silver Property
by @newswire on 4 Aug 2020
https://ceo.ca/@newswire/sailfish-provides-update-on-gavilanes-silver-property
Metals are breaking out.
Gold at $2000
Silver at $25.50
Looking good…………..Like I said………..KISS and hang on…. 🙂
(PGE) (PGEZF) Group Ten Reports 7.1 g/t Platinum, Palladium, and Gold in Early Results at Stillwater West, Announces Arrival of Drill
by @accesswire on 4 Aug 2020
https://ceo.ca/@accesswire/group-ten-reports-71-gt-platinum-palladium-and
Exciting Exc, … sideline funds are burning a hole my pocket…
Rene. Yes, I’ve dipped into some of my sideline funds the last 2 days as many stocks pulled back down 15-20% lower than where I trimmed back at higher levels. I’m still holding the rest for if the tree gets shaken above the $2000 Gold level soon, but I’ve managed to find good trades to both sell and buy almost every day with all the volatility in the markets.
B-b-b breakout
Brixton is now above its 200 week MA and weekly Ichimoku Cloud and has plenty of room to run…
https://stockcharts.com/h-sc/ui?s=BBB.V&p=W&yr=5&mn=5&dy=0&id=p66746135171
Yes it’s definitely a breakout……Kootenay looking good too
Ya Kaaaa Pow! 🙂
Let’s hope BBB runs
Picked up some Minnova Corp. Stateside had it in his recent update. Seems it got a lot of interest from his mention.
Yeah, I listed to Stateside cover that yesterday and it did seem like an interesting unloved value play at current levels. Good luck David!
Gold is going up…….that is all you have to know…..KISS
by Goldtard…… lol ….. 🙂