Wednesday’s Market Close with Mr. T
Pretty impressive reversal in gold today!
Click download link to listen on this device: Download Show
Latest Bix Weir:
NGD just announced it will sell nearly 54 million shares@2.80 a share to raise money to finish Rainy River. 10% dilution but at least the new mine should be finished.
The stock is up 33% after-hours but still a buck blow that offer price.
I will buy sam NGD in the drop Bonzo !
I’ve been tough on the newsletter pumping of Northern Dynasty lately but felt it was only fair to post this update on the permitting process:
S Congressional Committee calls on EPA Administrator to withdraw Pebble Project Veto:
VANCOUVER, Feb. 22, 2017
I posted on ceo earlier that the 200 day EMA seemed like a point for a dead cat bounce….. (and yes I picked up some shares at the end of the day to play the bounce…. Meow)
http://stockcharts.com/h-sc/ui?s=NAK&p=D&b=5&g=0&id=p03769980008
COOL!
Here’s the letter to the EPA about the Pebble deposit to Scott Pruitt.
(this is much more tangible than a newsletter pump, and while it offers no guarantees, it is the kind of real action that may actually lead to something moving forward).
Sorry to vote for Trump? Infrastructure or not, he is not Clinton.
Robert David Steele-Deep State Isolating Trump from We the People
Published on Feb 21, 2017
If Trump can’t mount a counterattack and get rid of his White House “traitors,” what happens? Intel expert Robert David Steele predicts, “He will not be reelected, and he will also probably be impeached in 2018. . . . Donald Trump is toast after 2018 . . . if we don’t do electoral reform. The Democrats will steal back the House and they will impeach Donald Trump. They will combine that with protests in the streets, and they will combine that with banking pressure to include a $20 billion bribe . . . and Trump will finally say I can’t handle this. I can’t do this, and he’ll leave. . . . Candidates can be bought, particularly if you apply so much pain to them that is simply not worth the hassle. I believe in Donald Trump. I want to devote my life to helping Donald Trump to restore the Constitution and restore democracy. I am deeply upset that Donald Trump is not getting the advice he needs to lay this out for America and provide a solution. The Electoral Reform Act needs to be implemented in the next 90 days or Donald Trump is not going to finish his term.”
In closing, Steele warns, “Even if 10,000 of us call the White House comment line, Donald Trump is not going to hear from us. Trump is in enemy hands. . . . Donald Trump is all alone in the White House, and the forces of evil are essentially isolating him from “We the People.”
Join Greg Hunter as he goes One-on-One with intelligence expert and election reform advocate Robert David Steele.
He needs to pull the plug in the swamp asap.
MSNBC Anchor: “Our Job” Is To “Control Exactly What People Think”
During a lively discussion centered on fears that President Trump is “trying to undermine the media,” MSNBC’s Mika Brzezinski let slip the awesome unspoken truth that the media’s “job” is to “actually control exactly what people think.”
Good ole songbird McCain..
http://www.zerohedge.com/news/2017-02-22/mccain-fingered-trump-leaker
Between this article and all the links in it, as well as the first comment, McNasty wouldn’t have a single friend left in the entire country, if everyone read it.
http://www.unz.com/runz/american-pravda-when-tokyo-rose-ran-for-president/
This part of the swamp needs to retire.
http://www.thedailybell.com/news-analysis/mccain-fingered-as-trump-leaker/
Donald should appoint him as ambassador to the Falklands.
Is this article anything more than gossip? It’s just as bad as all the unsubstantiated stories about Trump getting support from Russian hacking.
Here’s some substance on the despicable McCain:
http://www.unz.com/runz/american-pravda-when-tokyo-rose-ran-for-president/
I will never understand why governments don’t strip citizenship away from nationals that go fight for another country or organization in opposition to national policy..
+1. Or at the minimum, cancel their passport so they can’t return.
Chart of the decade.
http://www.zerohedge.com/news/2017-02-22/spot-presidential-difference
US Congressional Committee calls on EPA Administrator to withdraw Pebble Project veto
Yep, tomorrow may be a hell of a rally on this news…. I picked up some shares at the end of the day and added in the afterhours to play the bounce, based solely on the share price approaching the 200 day EMA. The news could not have been more perfectly timed to synch up with support here.
Concrete news trumps the the Trump speculation any day of the week.
BTW the after hours markets are still open for anyone looking to get a jump on tomorrow…
For me this will be a short-term swing trade, as I have no interest in getting ensnared in a big environmental standoff versus the mine and the government agencies, but it is clearly ready for a tradable bounce here.
Approving Alaska’s Controversial Pebble Mine
“Bristol Bay is an extraordinary ecosystem that supports an ancient fishing culture and economic powerhouse,” Dennis McLerran, Regional Administrator for EPA Region 10, which includes Alaska, said in July. “The science is clear that mining the Pebble deposit would cause irreversible damage to one of the world’s last intact salmon ecosystems. Bristol Bay’s exceptional fisheries deserve exceptional protection….simply put, this is a uniquely large mine in a uniquely important place.”
To HECK with exceptional fishing grounds…we want gold gold and more gold.
Good grief we’re a stupid species.
Well said
Big Al, If you haven’t watched MarkedtoFuture’s video above, you should.
Here is an alternative URL:
http://usawatchdog.com/trump-has-treason-in-white-house-robert-david-steele/
Hey Ex.Came across this news release from February 17 on golden valley site.Seems to be the only place where it’s listed..
http://www.goldenvalleymines.com/news/2017/february17/
Thanks Wolfster. I had missed that on the Uranium Valley mines option.
Bill says the downside in gold is good!: https://www.youtube.com/watch?v=NTwSxwhxd8k
Thanks for the post BDC. Interesting TA from Bill on the XAU.
Election hacking attempts in Indiana by Homeland Security. (Trunews report)
Could somebody REALLY smart please explain to me what the U>S House committee on science,space and technology has to do with mining in Bristol Bay?
I was wondering the same thing. Sounds like people with friends in high political places asking for a favor, but they’ve sent the letter to Scott Pruitt for review of the prior EPA veto nonetheless.
Next week look for the Boy Scouts of America to write a letter to Federal Reserve about their interest rate hike policy 🙂
Hi Shad:
Northern Dynasty still has to go through Bristol Bay Native Corporation to make this fly.
NAK is going to need some easements to get the ore to a port.I don’t think their planning on transporting it by helicopter.Hmmmmmmmm.
I hear ya, and as for the logistics of them pulling off the permitting, it still seems like a cluster to me. Great point about how they would even get their ore to port without those easements.
Like I mentioned up above, I’m just trading the dead cat bounce here that we’ll likely see tomorrow on this news, and then redeploying those funds into other opportunities. This stock has so many resource investors all worked up that it’s just an easy setup relief rally. I pulled the trigger for strictly technical reasons when it got down to the 200 day EMA, but then about 2 hours later those new releases came out. Quite synchronistic.
I like the trade Shad.
Remember like the stock,not the project.
I was going to reply yesterday to you about don’t be to sure that this project couldn’t get life.
I told Dick Tracy this stock was going to be like a personal ATM until Mr Prutit made a decision.
I still believe that.
Good thoughts JohnK. Yes, to me it is just one of many trades, and seems like an easy setup due to all the attention it’s been getting the last 2 weeks. Things just got so epicly sold off that it was hard to ignore strictly from a charting perspective It’s already went up about 30% in the after-hours trading, and could really run tomorrow. Not bad for a days work 🙂
Looks like Shad is going to be planning another vacation.
Ha! I’m still on vacation and have been trading from the beach and on breaks from the sun.
However, there is a very good chance I’ll cover this vacation costs tomorrow if this trade goes as planned 🙂
Ex, and JohnK, you guys are getting excited about NDM/NAK, remember what I said about gambling, but life is boring without risky plays that can be very profitable. NDM has a gap that should be filled at some point around $1.20 CDN. Just thought you gamblers might like to know that but heh it might never happen. LOL! DT
Hi DT. Yes I did respond back to your message yesterday on the Avi blog relative to life being constant gamble and the elements of making a decision.
To clarify my position, I’m NOT really excited about NDM / NAK and think there is a long road to haul to take their Pebble deposit into production from a Social License and Environmental perspective. As we’ve discussed a few times, I’ve watched this story unfold for almost a decade, and remember Stansberry pumping this Frankenstein story in the last cycle.
Again, I’m only looking at a short duration swing trade based on the extremely oversold conditions of this stock on a technical basis, and that is why I picked up some shares yesterday afternoon. I posted a chart with my technical reasoning up above in this blog.
This stock has garnered soooooo much attention lately from the Doug Casey, Stansberry, Katusa, Rick Rule pumps, and then to the Kerrisdale Capital hit piece, to the Katusa rebuke with David Lowell on its economics, a company response, and then a flurry of at least 4 class action lawsuits this week to represent investors that got damaged, that it is hard to escape the vortex of discussions around Northern Dynasty.
As a result of this frenzy of news, arguments, blog reactions, and clearly extreme share price reaction, there are many eyes on this project at present. Curiosity isn’t just from the resource investing world, but also from many mining company executives and government & environmental groups all watching to see what will happen as this tension escalates.
As you know, I’ve been vocally against the fact that the stock ratcheted up based solely on a multi-newsletter pump with Trump over-turning the EPA veto as part of it’s narrative. Up until this point in time it has been PURE speculation. However, I must concede that the letter that was sent to Scott Pruitt’s office last night from the US House committee on Science, Space and Technology is a real tangible fundamental data point and is new data.
The fact that this long awaited and hypothesized letter was launched at exactly the same time the share price crashed down and broke just below the 38.2% Fib retracement, and right at the 200 day EMA, seems like a confluence of events that should drive the share price higher in the short term. As mentioned, the shares already spiked up 30% in after-hours trading so the thesis has held thus far.
I agree that every trade is a gamble to some degree, but what makes it speculation (targeted risk) over just gambling (luck of draw) is when an investor uses both Fundamental and Technical data points to put the risk into perspective and make a projection on trade based on this information (with a price objective and time horizon).
We’ll see how this very speculative trade goes tomorrow, but if nothing else, it will be quite an interesting day to see how traders from both camps (long term enthusiasts versus short sellers) battle it out.
Never a dull moment in the resource stocks…..
Wishing all investors a prosperous end of the trading week.
Bristol Bay Native Corp land boundaries.
http://www.bbnc.net/our-corporation/land/maps/
Great post JohnK. Here is a map of the Pebble Property held by Northern Dynasty for a comparison of how all of this overlaps.
http://www.northerndynastyminerals.com/i/maps/ndm/PD_Regional-Map.jpg
By the time pebble is built technology will have saved the day, but then the robots will be in control and they don’t eat salmon. LOL! DT
Maybe a more prescient comment than you intended, DT!
Bix Weir on Bitcoin.
The Left attacking……
Don’t forget the only population of freshwater seals in the U.S
http://www.biologicaldiversity.org/species/mammals/Iliamna_Lake_seal/
Shorty might be in trouble!
NAK (AMEX) $1.39 US
Shares Short 6,524,900
Days To Cover 0.5
Short Percent of Float 2.35%
Short Interest Prior 5,340,000
Short % Increase/Decrease 22.18%
Looks like DT will be planning a vacation also.
🙂 Vacations all around! Cheers guys!
Ex, I’m in Myrtle & Hilton Head 3 of the 4 next weeks myself, good sunnin’. I’ll golf also, but breaking 100 now isn’t like breaking 80 on a regular basis just 10-15 ago
Very nice Marty. It has definitely been good to get some sunshine and R&R and some time away from the daily grind. Good for the soul to recharge the batteries, and I never tire of the lulling sounds of the ocean.
As for golf, I haven’t played in decades, and never really spent the time to get good at it. Sounds like a great trip though, and wishing you all the best out on the courses of Hilton Head. My friends tell me those are some of their favorite.
Cheers!
Hi Ex, thanks for your input, as always! DT
You as well DT. It’s always good to share ideas and flush out the Strengths, Weaknesses, Opportunities, and Threats on these volatile mining shares.
It is such a huge advantage to have like-minded investors to bounce ideas around with here on the KER rather than going it alone. Ever Upward!
A view from the right:
https://www.youtube.com/watch?v=vtR2ZchYtJE
Catholic migrants may be OK, but that clip proves Papal fallibility as far as I am concerned.
Mid-week summary from Silver Doctors
The Traitor McCain?
Much as I dislike McCain, this video looks like garbage.
Here’s the wikileaks document to which they appear to be referring (click on ‘file’ under ‘Download’):
Looks to me like this Russian guy was on a mailing list and got a form letter soliciting funds. A form letter that likely went to many millions of people. No sign that McCain was personally involved in any way.
As for the rest of the rambling video, what was the point? Even at 2x speed I couldn’t give it more than a minute of my time.
There’s plenty of good info to destroy McCain’s reputation out there. This isn’t it.
What was McCain’s involvement in the POW issue?
http://www.theamericanconservative.com/articles/mccain-and-the-pow-cover-up/
Time and again the economists and forecasters had cried wolf, wolf, and the wolf had made only the fleeting of visits. “Be a bull on America”. Still there remained doubters. This bull market has survived the winter but will it be around by the end of this year, perhaps it is destined for a long life after all……………..
http://business.financialpost.com/investing/investing-pro/the-trump-bubble-skeptics-are-getting-louder-but-when-or-if-it-pops-is-anyones-guess
Global steel production is surging in 2017
Frik Els | 2 days ago
http://www.mining.com/global-steel-production-is-surging-in-2017/
World’s deepest mine gets $1 billion injection
Frik Els | about 13 hours ago
http://www.mining.com/worlds-deepest-mine-gets-1-billion-injection/
Caterpillar touts automation solutions as top miners swing back to profit
MINING.com Editor | about 18 hours ago
http://www.mining.com/caterpillar-touts-automation-solutions-as-top-miners-swing-back-to-profit/
Primero Reports Year-End 2016 Mineral Reserves and Resources
02/22/2017
“Our 2016 exploration program substantially replaced our depleted Mineral Resources,” stated Damien Marantelli, Chief Operating Officer. “However, our Mineral Reserve estimate was affected by mining depletion and improvements we made to our geological controls and modelling methodologies. We believe these important changes will set up our mines for future successes through improved planning, predictability and deliverability. Primero has traditionally had a strong history of replacing Mineral Reserves and we remain confident in the significant mineral endowment of our mining districts. In 2016, our exploration programs identified additional Resources but not yet at a confidence level to convert to Reserves. This can be demonstrated by the recent discovery of an extension to the high-grade Victoria vein at San Dimas in late 2016. In an effort to increase our Mineral Reserve base going forward, at a rate closer to historical levels, our 2017 San Dimas exploration budget is approximately double the expenditure of 2016, with a focus on defining additional mineralization on known favourable structures located close to existing infrastructure. We also look forward to continuing our exploration of San Dimas’ greenfield southern concessions, which exist outside the silver purchase agreement.”
Mandalay Resources Replaces Mineral Resources and Reserves in Year-End 2016 Update
Feb. 23, 2017 – Mandalay Resources Corporation (MND)(MNDJF)
> Mark Sander, President and CEO of Mandalay, commented, “I am pleased to report that Mandalay’s aggregate consolidated Resources and Reserves position, expressed as ounces of gold equivalent calculated at year-end 2016 resource and reserve reporting metal prices (see footnotes to tables in this release), remained nearly unchanged from the year before, calculated at the same metal prices. We currently have 1,024,000 ounces of gold equivalent in Proven and Probable Reserves and 2,229,000 ounces of gold equivalent in Measured and Indicated Resources inclusive of Reserves. This excellent overall result included significant additions at Björkdal due to exploration success, offset by reductions at Cerro Bayo due to reductions in estimated reserves along Delia SE vein in light of recent development sampling. ”
Teranga Gold Looks Ahead to Growth Opportunities in 2017 Following Strong Performance in 2016
(Marketwired – Feb. 23, 2017) – Teranga Gold Corporation (TGZ) (TGCDF)
“In addition to exceeding our full year production and cost guidance, we undertook strategic actions in 2016 which have opened up significant growth opportunities for us,” stated Richard Young, President and Chief Executive Officer. “For shareholders, Teranga offers meaningful upside potential, backstopped by a robust production profile, a strong balance sheet, and a supportive cornerstone investor. These are exciting times.”
Hecla Mining Reports Fourth Quarter and Year 2016 Results
“We finished 2016 strongly, with record silver and silver equivalent production for the year and robust performance at all our mines driving record sales, strong net income and more than doubling adjusted EBITDA over last year,” said Phillips S. Baker, Jr., Hecla’s President and CEO. “And despite using one of the most conservative price assumptions in the industry, we almost completely replaced the silver reserves that were mined, a very satisfying achievement considering our record silver production levels and lowest exploration budget since 2009.”
Torex Gold Announces 2016 Year End Financial and Operational Results
(Marketwired – Feb. 23, 2017) – Torex Gold Resources Inc. (TXG)
Fred Stanford, President & CEO of Torex stated: “280,000 ounces of gold in the first year of the ramp up, speaks to the quality of the deposit, the constructed asset, and the skill of the team in navigating through the technical and social start-up challenges. The ramp-up is expected to be completed during 2017, as solutions are in hand for the two remaining material technical issues. Construction is underway on the SART plant to manage the soluble copper and a decision has been made to increase tailings filtration capacity.”
He added, “2017 will also be an exciting year from a development perspective as step-out drilling on the Sub-Sill discovery is planned and delivered, a resource estimate is prepared, and access is completed to allow material from this zone to be processed before year end. Media Luna is also poised to take a major step forward in 2017 with permits expected for an access ramp that we intend to start developing before year end. It promises to be an interesting year as we complete the ramp up of ELG and prepare the Company for the next stage of growth.”
OceanaGold Announces Record Revenue and Net Profit for 2016; Declares Dividend
Feb. 23, 2017 /CNW/ – OceanaGold Corporation (TSX/ASX: OGC)
Mick Wilkes, President and CEO said, “OceanaGold achieved strong financial results from our portfolio of high quality assets in 2016. With growth in production and higher margins expected in 2017, we are further strengthening our financial results and balance sheet. On the back of these results, the Board of Directors is pleased to declare a semi-annual ordinary dividend of $0.01 per share.” He added, “We expect this year to unlock significant growth opportunities in the business particularly in New Zealand and the United States. Commissioning of Haile continues to advance well and we expect to announce commercial production early in the second quarter. We will continue to create value through exploration supported by a larger exploration spend in New Zealand and the United States. We will also complete studies for the potential expansion of Haile and the exciting Martha project at Waihi.”
Ex, I like OGC. DT
It’s a very well run Mid-Tier.
I own Ocanf and HL too.
Monarques signs an agreement with Osisko Gold Royalties Ltd
Feb. 23, 2017 /CNW/ –
MONARQUES GOLD CORPORATION (MQR) (MRQRF) is pleased to announce that its wholly owned subsidiary X-Ore Resources Inc. has entered into a Royalty Purchase Agreement and a Royalty Agreement with (OR) Osisko Gold Royalties LTD pursuant to which X-Ore agreed to grant in favor of Osisko a royalty of 0.75% NSR on the entire Croinor Gold Property in consideration of an aggregate cash payment of $250,000. Additionally, Osisko will subscribe for 1,111,111 units of Monarques at a price of 0.45$ per Unit for a total consideration of $500,000.”
I love Hecla as it and Rice U., my alma mater, were both born in 1891.
Yes, long track records of success.
BB, I LIVED on the outskirts of Rice, off Kirby dr/ Buffalo Spwy in the late 70s. I remember the long lines there at the coin exchange in Jan 1980
I bought some Krugerrands at that sore in the Village @$100 when Ford was president and sold them for over $200 when Carter was president. Then they quickly soared to $875 in 1980. I bought them back for $300 when the Clinton’s took over. Still have them and plan to sell some @5K and 10K.
Here, Here!
NexGen Energy Significantly Extends Mineralization in the A2 and A3 Shears to the Northeast
Feb. 23, 2017 /CNW/ – NexGen Energy Ltd. (NXE) (NXGEF)
Leigh Curyer, Chief Executive Officer, commented: “These initial 2017 results suggest the ultimate extent of Arrow is still in the early stages of definition. It’s quite remarkable considering the maiden Inferred mineral resource estimate published in March 2016 ranks Arrow as the largest undeveloped uranium deposit in Canada. The updated resource estimate incorporating 2016 drilling at Arrow is on schedule for release in the coming months. The 2017 program will continue to aggressively test the boundaries of the known area of mineralization which, to date, have continually extended the boundaries of Arrow.”
2 More Nuclear Reactors Effectively Clear Regulator’s Safety Review
“Japan’s nuclear authority on Wednesday paved the way for the restarting of more reactors, effectively determining that two units at Kansai Electric Power Co.’s Oi plant on the Sea of Japan coast have met the country’s post-Fukushima safety standards.
The number of reactors that have met the standards, adopted after the 2011 nuclear accident at the Fukushima Daiichi plant, reached 12 at six power stations. After soliciting public opinion, the Nuclear Regulation Authority is expected to give its final approval as early as April, officials said.”
Excelsior, did you notice Probe, GMX and Osisko buying?
Yes, I just got burnt out on posting news. There are a ton of releases today (like we mentioned would happen 2 weeks out from the PDAC).
It’s all about land around Val d’Or by the looks of it.
Yes, that is a hot area play.
Oops, I meant QMX
Hi Doc, Matthew, Excelsior, CFS, LPG, Bob Moriarity, et al,
I see that PPP and NSRPF both closed @.69 WHich do you think will do better in the next 3 years? Should be a good race between the 2.
Tough call. One is a producer coming out of a slump that used to trade 8-10 times higher in 2010-2014,, and the other is a developer that is about to get its legs and could grow 8-10 times.
I own both PPP and NSRPF and say race away…..
I also own both and am wondering which to buy more of now.
Sorry, I don’t know.
I cannot understand current behavior…..something’s happening, but I don’t know what.
I would normally expect a small company like NSRPF to easily win but I’m not sure, in this case.
Primero has always provided plenty of leverage to gold and silver but it now has a lot more potential – and the moves could be explosive.
Matthew, you and Doc and Excelsior have been buying PPP lately, whereas NSRPF is the largest holding of Moriarity and Jay Taylor. I like both and look forward to see which does better from .69
Bonzo, NSRPF has a good looking chart and is probably safer than PPP.
Thanks, Matthew. I wonder why you and Doc do not own NSRPF, the last I heard.
At least NSRPF does not have to worry about the Mexican federals and banditos, which appear to be one and the same.
In my case, it’s just luck. As Doug Casey says, you can’t kiss all the girls.
The only reason I own PPP is because it has been hammered and looks like a fantastic bargain.
Gold up at $1247
Silver up at $18.16
Platinum up at $1013
Looks like we’re off to a good day in the metals….
No differential in gold price between SGE and US!
Off Topic.
Despite more than a decade of warnings about Oroville, there is no public record of the country’s tallest dam receiving any of the more than $34 billion from the American Recovery and Reinvestment Act sent to California for infrastructure projects.
In tracking spending, which is extremely difficult because the money appears to have mostly been used as General Funds, I can only find $22 million spent on Bolton Dam.
The vast majority seem appears to be used for immigrant welfare.
If the State was not totally dominated by Democrats, I believe any reasonable investigation would put much of the administration in JAIL, for mis-appropriation and use of funding. California Attorney General is clearly never going to investigate.
Did you hear Nancy Pelosi condemning Trump?
Sounded DRUNK to me.
http://www.businessinsider.com/nancy-pelosis-in-flight-food-and-drink-costs-101000-2010-1
How could you tell? That woman is so shockingly stupid and of such overall low IQ. . .goes to show that in American “democracy” you can be a complete moron but gain high political office if you are compliant and willing to whore yourself out to the Deep State, et al.
Epstein at opening of market:
Epstein’s end of day metals:
https://youtu.be/_xQOykq3q4c?t=31