Cory Fleck recaps the PDAC
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CFS,
That makes sense, of course. What the h__ happened to common sense in mining? What – greed took over? Starving geologists looking for a big payday every two weeks?
Marc….the entire segment is sick…..you have to understand they have the same greed as any other business……remember,,,most of them will be out of business by year end……..regardless of the price of gold…..
Yep agreed! All my, juniors have 5 million and more in the bank…some are much more….who knows if that is enough. EMXX (Eurasian Minerals) is a SCREAMING BUY Not investment advice
Irish,
I assume you’ve seen this:
AGAIN….looks like the big boyz,,,tried once again to pound down the pm mkt….in early morning trading……this is really getting old……but, the money printing keeps going on…and on…..and on…..I guess we can expect this the rest of the year and into 2014…. THE SHORTS, AND WATCH YOUR SHORTS….BY jerry the SHORT…..OOTB
No; Jerry. we getting closer and closer….. J.P.Morgan will be in trouble.
Tick, Tick, Tick,….Before the rest of the year, KaBoom!
cfs…200……I agree with you, JPM…is not long for this new world order,,,,they will be thrown under the bus….when their usefullness is complete……
Yep, agreed…Nenner research is calling the start of a NEW uptrend this April…gradual!!!
Gold is at a BOTTOM!
marc…..go over and read reports at KWN…..
Jim Sinclair KNOWS EXACTLY what is going on. China and Russia are HUGE sovereign players NOW in the gold game. The USA cannot and will not step on their toes…no way AND no how! The USA is going to go kicking and screaming to a gold centered point of rebalancing the deficits. It really that simple!
marc……I have been reading Sinclair,for about 7 years,and find him spot on…..just knowing his background is enough to keep you calm….ootb
My reason for the implosion before the end of the year is simply the mass of money available from China, Russia and other countries buying physical, exceeds by more than 100:1 the amount the shorts can bring to bear, or should I say bare.
This explains the divergence also between mining shares and physical.
Meanwhile, tick,tick, TICK….
cfs….have you read any reports concerning the Russians paying gold for oil,to the Saudies,?…….
I wonder about this gold for oil thing. The gold:oil ratio is usually about 15 to 1.
You get 15 barrels of oil for an ounce of gold.
The USA used to import 13m barrels per day, that’s over 800k oz of gold equivalent and would lose that much gold per day from its reserves if they paid gold for oil.
The USA supposedly has 261m oz of gold reserves. At not much less than 1m oz of gold depletion per day, their gold reserve would be gone in less than a year!
I think that is a primary reason why Nixon took the US off redeeming dollars for gold in 15 August 1971. Maybe its no coinidence that peak oil in the lower 48 states of the USA occurred the year before, in 1970 and the US was destined to become an oil importer.
If oil exporters could get some gold for their oil then that would be nice for them. However, paying with just gold is basically impossible for long; the gold would soon be gone in any nation that did it. It has to be paid for principally by balancing the trade with exports. Maybe that makes the future very bearish indeed for trade deficit nations, like the UK where I live (we don’t have enough exports and we hardly have any gold!)
maybe, they raised the ratio……,,,,, Saudies like gold,, ,,,,,,and protection……How, much do we charge the Saudies for protection……,
Interesting, but US net imports of oil have fallen off a cliff frm 13m bpd to 5-6mbpd.
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mttntus2&f=m
So for the USA, they won’t need to pay so much of their gold out for oil!
I am thinking more of Russia,,,,than the USA…..for the gold price to oil…..,,,,The Saudies still have oil and they like gold……and the Russians need the oil,,,,,
Guys;
The US does not pay gold for oil.
Secondly, the US imports oil mostly from Canada, Mexico, Venezuela,….
Why do you think US would pay Brent prices and the cost of Transatlantic shipping?
cfs…..I was talking about Russia…….We know the Us does not have any gold,,,,but, they do offer protection…….
cfs…..I orginally ask you ,,,,if you thought Russia was pay gold for oil…..
Heck….the US,,,does not pay for anything…..they are broke…..plus the paper is worthless……or soon to be…….
Russia is not paying gold for oil. I’m not even sure they are net importers of oil.
Gasoline, maybe, but not oil. Why would they import oil. when they are major exporters of gas.
that was my question…..but,,is that nat.gas…..not gasoline,? IF, nat.gas….they would still need some oil,,,for lube and making for chemicals…..I was trying to clarify my thinking on the oil for gold trade……..thanks ootb
00tb,
Russia exports natural gas.
Corey,
Not everyone is pessimistic
http://www.kitco.com/news/video/show/PDAC-2013/253/2013-03-05/Ive-Seen-the-Good-the-Bad-and-the-Ugly-of-Mining-Analyst
hell no,,,we are not pessimistic……I’m as glad as a pig in do..do……because ,when this market breaks,,,,,GOLD AND SILVER ARE GOING THUR THE ROOF. and these moron are going to pay big for stealing……
I NEW IT. AS SOON AS AL WAS THINKING ABOUT SELLING THE PRICE WOULD MOVE UP.
DON’T SELL NOW!!! WE ARE AT THE BOTTOM. LISTEN TO JIM S.
HANG ON THE BOTTOM IS IN.
if Big Al, is thinking about selling……THAT PINCHED NERVE, HAS CUT OFF THE FLOW OF BLOOD TO THE BRAIN…..normal thinking is eliminated due to the excess pressure of the nerve endings being impaired by the receptors …..which in return have caused Al ,to go completely off his rocker……..The end is near,and we should all throw in the towel, and prepare for the end……….NOT…….come on Al, ..it is only the end of winter, and the salsa is being prepared for the Gold extravaganza due this July……It will happen this summer, because all the shorts will be on summer holiday…….with all the money they have stolen from the sheeple the last 18 months…..So,,,,lets get ready to party down…….I am leaving for Florida this week…..and taking a month off……when I return I expect this site to be in working order, to prepare for the rocket blast to the moon……ootb and out to get a tan…….
Hey there OOTB…Do I get the pontoon ready?
I am thinking we need to get together,,,,I will be in South Florida , and could make some arrangements once, I get down there…..maybe, we could get bobby, and john to join us…….I would ask AL, but, he is a golfer, but, do you have astor turf on the pontoon,,,,maybe, he would like to do some chip shots at the gators …….
You name the place…really busy over here in Orlando area, but could (and would love) to make a trip south. Not that I’m tired of Daytona Beach. Or Cocoa Beach. Or St. Pete. Or Cape Canaveral. Or…
John…..GATOR is up or over in SANFORD….just out of Tampa….I think….that is closer to Orlando
Jerry…I’m in Longwood just north of Orlando ..3 miles..pontoon is in Sanford marina..also known as Gator hollow..No astro..no shag..just good hard aluminum..gator bite proof that is. Could give you and John a good trip through the Dora canal and up the St.John’s a ways..Lots of big birds,gators,huge spiders over the waterway,low hanging cypress..and a ton of rednecks along the banks…doesn’t get any better..
Hey, I thought share price going up when we sell was my domain?
I love the pessimism and the current price action of the PMs—some people are thinking 2-3 years before we move into higher territory? I don’t think so. I believe we’re in a major bottoming right now in PMs. The dollar has a good chance of topping out in the next 2-4 trading days. It’ll be at major resistance. If we move through that major resistance then I agree with the pessimists—-that we’re in for a long wait before the PMs take out the last high. When everyone gets as pessimistic as they are now and the stocks are getting crushed, it’s time to watch the bottoming and become prepared. The weak hands are being removed. As mentioned previously; watch the next 11/2 weeks. Volume is starting to pick up a little. Watch the dollar in the next week—-that’s one of your keys—-it’s right at the area I mentioned weeks ago that it should hit—–if it moves up a little more and holds and then reverses, we’ve seen the lows for awhile in the PMs. Also, the dollar had a nice gain today and the PMs didn’t seem to care.
I agree. The cdn$ has dropped significantly (almost bottomed out) and it should start turning up soon along with the PM’s.
This is the clearing phase of the weakest hands, as you say. It’s exactly what needs to happen, and had to eventually happen. This may not be much consolation to anyone who bought at $1,940, but considering how much most people think gold stinks, and we’re still well above $1,520. That’s the holding power of the world’s gold owners. Those owners, in China and the Middle East in particular, aren’t selling. Central banks aren’t selling anymore either. Gold’s support is quite strong right now, both fundamentally and technically.
John W.
Agreed…wholeheartedly and now it is back to the beach in SD… 🙂
richard: There might be a recognizable pattern let say starting 2006 to present as follows:
May 12, 2006 peak at 710
Aug 17, 2007 cycle bottom at 656
Sept 16, 2007 break out above 710
Peak to bottom ~ 15 months
March 14, 2008 peak at 1002
July 10, 2009 cycle low at 913
Sept 11, 2009 break out at 1005
Peak to bottom ~ 16 months
Sep. 2, 2011, peak at 1884
March 4, 2013, cylcle low at 1560
Peak to bottom ~ 17 months
The first consolidation between 2006 and 2007 took 15 months before a cycle low set state for a 1 month rise to new break out. The second consolidation between 2008 and 2009 for peak to cycle low was 16 months with a 2 month rise before new break out. The current consolidation may have just seen its cycle low March 4 which would be 17 months peak to trough, and if the patter continues we might see a new break out sometime around June 4 this year. So perhaps we have a pattern 1st consolidation 15 and 1. Second consolidation 16 and 2. Present third consolidation 17 and 3.
Today saw an “outside-day reversal” in the GDX mining stocks on very high volume. GDXJ also had an outside-day reversal on massive volume, about 4x previous days. These ETFs were perfect in signaling previous tops. Things are looking up here.
Good comments by John, Clay, and Pixie. It’s 4 AM and I’m not able to sleep—getting my semi-annual bronchitis and I just got through reading about Kondratieff cycles—–interesting. As mentioned above, very interesting day yesterday with reversals and other action. Over the last 4 years, the PM markets have seen either intermediate tops or bottoms in February. The next few days/weeks will tell us a story on the PMs. I can watch charts ad infinitum but sometime you just get an intuition or “feeling” and I’m starting to get that now.
PESSIMISM IS DESERVED IF GOLD IS SUB 1800.00 FOR 2YEARS. HOWEVER IF GOLD SURPASSES THE 2000.00 BARRIER THE BEAR IS DEAD.
The call of The Sixties was ” BAN THE BOMB” , the call 50 years later should be ” BAN THE DEBT”, if you can’t pay it back the other solutions are meaningless, when it occurs to more than Iceland that it is the only policy ” BAN THE DEBT” will become the only solution. DT
Default is coming!!!!!! DT
I think you are correct DT……..
Bloomberg as we know is WRONG, the US can’t print it’s way out of debt so the only solution is to go to bankruptcy court like households and people do and declare insolvency. Then the you must impose upon yourself conditions where as a country you can’t get anymore credit until you prove that you have cleaned up your finances, that means transparency and coming clean with how you will run the banks in the future, ie: they are only allowed to take in deposits and lend money, nothing less nothing more. DT
they can not declare bankruptcy…..maybe default,,,,but, all US citizens are obligated ,,,,,,,,,credit….is the problem……….WE DO NOT NEED ANYMORE STINKEN CREDIT…..CASH AND CARRY…..NO CASH ,,,,NO CARRY…..DESOLVE THE FED…..AND ANY CENTAL BANK…….
my typos are are over the place…..but,,,,should be Central…..but, you knew that…
How the Markets Are Manipulated (17 minutes)
http://www.safehaven.com/article/29059/dollars-top-commoditys-bottom-approaching
I don’t believe we will get new highs in gold in the next 2 to 3 months as the author mentions but could approach 1750 to 1795 sometime this year.
The news from London is that things are getting so bad in France that there are now over 500,000 20 and 30-year french people living and working in London.
These are some of the best and brightest young people of France, which does not augur well for the future of France.
I meant year”-old”
Ted Cruz doing an excellent job of maintaining the filibuster.
I never thought I’d see McConnell supporting the filibuster, but he’s been talking.
,- The master page is steord in the gallery of the site so after the sites been provisioned I am not sure it matters.- Other pages can still inherit from it.Because of those two points I think Ghosting is not as much an issue now.
Moving into production to cover the cost of running the company USED to be the way it was done in mining.
It is one of my criteria of choosing a company….is there an area of high grade that can be exploited first to cover the financing of the rest?