Thoughts on the sell-off of PMs today
Doc is with me today to share his thoughts on the move down in the precious metals today. Last week gold creeped up close to $1,300 but starting this week is giving up pretty much all of those gains from last week. We assess where the PMs could close and what impact it would have moving forward.
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Markedtofuture – this news post is for you sir:
(PIO.AX) Pioneer Resources Commences 2,000 Metre RC Drill Program at Golden Ridge Cobalt Project
Ex, thanks. Those HotCopper PIO ASX announcements go right into the inbox. They are keeping a low profile on gold.
Bigsky writes:This is a telling point Stereo. Seems like the watermelon seed nuggets both contemporary and historic finds to this point are in tenements held by PIO, ARV, NOVO, DEG, and HAO (with a suspension). There are other ASX listed companies like CDT, IPT, KAI, VXR, CAI and AGO with good prospective ground but no significant finds announced. There are an increasing number of companies with nearology hype driving CRs. I have ratonalised my holdings recently to focus primarily on companies with proven nuggets on tenure and good prospective ground. I also prefer companies with other assets underlying the Wits 2 play as this provides additional derisking.
PIO is my largest holding as it meets all of these criteria. Although the company has not announced nuggets on the pond as yet, the historical alluvial workings show proven production history, the basal MRB cong is on tenement, and the geology and terrain show promise as a primary source for the alluvials. The caesium and lithium potential provide an additional and expanding potential asset base.
https://hotcopper.com.au/threads/agm-feedback.3852515/page-77?post_id=29002061
Thanks Markedtofuture for the further remarks on PIO and the Pilbara Sisters on the gold rush in the Pilbara.
I just thought the Cobalt news was interesting for Pioneer as I’ve been buried in reviewing Cobalt & Graphite stocks lately.
Artemis has some interesting cobalt exposure as well.
Markedtofuture – What are your thoughts on Marindi, Haoma, or Impact Minerals?
Also – have you looked into West Wits Mining?
I also just saw Leon’s post about yet another Pilbara Sister: Elysium Resources – Any thoughts on it?
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@Leon – “$EYM.AX will use the work done by $NVO $ARV.AX and $DEG.AX to understand the complex mineralization and has been successful with its own recent discovery.”
http://www.elysiumresources.com.au/images/pdfs/EverBlu_Research_EYM_20171109.pdf
I don’t want to get spread too thin. JonathanC knows the place like the back of his hand. There is a lot of promotion going on. The other side of the coin cannot be discounted…such as…
@DanO @CriticalInvestor Purdy’s is the richest part so expect good news coming from there (they know very well what and especially where to dig to get good results). But it is not the 10s Moz gold that many dream about. If you’re late to the party better understand that. Promoters are in full swing on the chat promising you untold riches. You better do your own dd.
@Dunite @CriticalInvestor, You have a few like stocksluice that just do not get it….This is a placer derived from hardrock sources up slope. I said the former repeatedly on the NOVO board.. The final nail in the Wits-2 coffin is the lack of Vanadium in the matrix between the cobbles. QH did the science of Geology a disservice by trying to change 350 years of proven Gold ore formation— Hard rock Gold Veins form in mountain building events, erode, and form placers…There will be a greenstone or Komatiic source for the gold found. @Dano is leaning towards the silica HILLS region…
Thanks Markedtofuture. Yes, I saw those comments on ceo highlighting the perspective on the other side of the coin.
The lack of clarity as to the source of the gold is where the speculation is stemming from in the first place. I just have seen a lot of buzz round Marindi, Haomoa, Impact Minerals, and now Elysium, outside of the other Pilbara sisters like Artemis, De Grey, Pioneer, Kairos, Chalice, MacArthur, etc….
Well after a looong wait on the assays and a stock that was halted since last Friday morning the news on GGI is in. Looks pretty good but the stock sold off 14% on the news, as the valuation was really quite bloated already.
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Garibaldi Resources Drills 4.8 Meters of 7.2% Nickel and 3.4% Copper at E&L Project
There was actually a ton of newsflow out today from mining companies people are watching, so I’ll just post this link and investors can dig through.
Lots of good Gold and Base Metals exploration work going on out there for a change:
Brent Cook, Eric Coffin, and Otto were not fans of the GGI Garibaldi press release:
@Brent_Cook – “Yesterday’s NR was probably the worst written NR of the year and should have been a big red flag to anyone following #GGI. Confusing and disjointed geo-babble that provided no context. Dr. Lightfoot should be embarrassed. GGI originally stated assays by late Oct and have had sufficient time to compile decent plan and section maps. These should include locations and assays of previous work etc. The one HG hole (#4) they smeared 4.8m @ 7.2%Ni, 3.4%Cu over the 48m. Removing that leaves 43.2m @ 0.42% Ni, 0.39%Cu. This thing is sketchy as hell. corebox -drill_interval_calculator 1.1,.69,,,4.8,7.2,3.4,,, ”
— 34 minutes ago
@HRA-Coffin _ “Don’t hold back @Brent_Cook. Tell them what you really think. ;)”
@Brent_Cook – “and . . .the geologic setting is all wrong. My bet is the HG has been remobilized into a narrow shear from a rather low grade and smallish Ni bearing ultramafic/dunite. Y’all should be demanding all the old and new data on maps and sections. Right now there is no context and a lot of BS.”
https://ceo.ca/ggi?3cfb3b3d10ff
@HRA-Coffin – “I’ve commented in the past about how the local geological setting does not support the VB model. Joe and I have talked about this as you know Brent. Deaf ears…$GGI”
Garibaldi (GGI.v) and New Nadina (NNA.v)
11/20/17 – IncaKola News (brutal as usual)
http://incakolanews.blogspot.ca/2017/11/garibaldi-ggiv-and-new-nadina-nnav.html
@Brent_Cook – “I agree there may be something here. But so far GGI has provided no real context to what they are doing. Where were the previous holes drilled and how do they relate to the new holes? Where is the resource relative to the new holes. What the hell are the new holes? Any competent exploration company should have all this on hand to direct and interpret exploration results. they should also provide this to potential investors. Compare GGI and NNA news and project website to a company like MRZ or AMZ. Writing a letter that subscribers pay for requires knowing (as best possible) what the data says and what the geologic context is. “Oops, we screwed up ’cause we didn’t think it important to see know the context” don’t cut it. ”
$CZX $CZXMF Canada Zinc Metals Hole A-17-142 Intersects High-Grade Mineralisation of 11.15% Zn+Pb and 15.5 g/t Ag over 32.65 metres – including 23.32% Zn+Pb and 30.9 g/t Ag over 11.31 metres
November 20, 2017 #Zinc #Lead #Silver
Mr. Peeyush Varshney, CEO of Canada Zinc Metals, commented: “We continued to be extremely pleased by the results we are seeing from the Cardiac Creek Zone both at depth and along strike to the NW. The mineralisation intersected from the Footwall Zone in hole 142 represents the highest-grade material ever intersected from that zone and mineralisation present in hole 143 continues to expand the limits of the high-grade core into an area that has seen limited drilling. We look forward to incorporating the results from the 2017 drilling program into our models as we move into the assessment and planning phase.”
http://www.canadazincmetals.com/news/2017/index.php?content_id=270
The Second BIG Novo (Pilbara) Insider Article is Finally Finished
The Hedgless Horseman – November 20, 2017
“It contains some high octane speculation regarding ways to potentially track conglomerate basal Fortescue Group outcrops across the Pilbara Craton. Examples include land belonging to Novo Resources, Artemis Resources, Coziron, Matsa, Marindi Metals and De Grey Mining. I also take a closer look at Purdy’s Reward, Artemis’s newly acquired claims and the potential for geological mismapping across the Pilbara, with potentially big implications for a lot of juniors. I support my thesis with multiple graphic examples and information from the companies mentioned.”
“It’s a 63 page (20mb pdf-document) behemoth with 80+ slides and commentary which includes weeks of research and about a week to compile everything into a readable document. The sheer size is not really suitable for a regular post (it’s much larger than my first article). I have not seen the information and thesis provided in this document mentioned in any blog post/forum post/interview/company presentation etc (except broad statements regarding geological mismapping). ”
http://www.thehedgelesshorseman.com/novo-resources/second-big-novo-insider-article-finally-finished/
FBI informant gathered years of evidence on Russian push for US nuclear fuel deals, including Uranium One, memos show
Snippet…”The Department of Justice has authorized the confidential informant to disclose to the chairmen and ranking members of the Senate Committee on the Judiciary, the House Committee on Oversight and Government Reform, and the House Permanent Select Committee on Intelligence, as well as staff, any information or documents he has concerning alleged corruption or bribery involving transactions in the uranium market. Until the informant publicly speaks to what he knew or knows about these matters, we are unable to respond further,” she said.
Campbell’s undercover work helped FBI counterintelligence chronicle a Russian uranium strategy modeled after Moscow’s success in creating natural gas monopolies in eastern Europe that strengthened Russia’s economy and geopolitical standing after the Cold War, the officials said.
Part of the goal was to make Americans more reliant on Russian uranium before a program that converted former Soviet warheads into U.S. nuclear fuel expired in 2013, according to documents and interviews. The Russia’s ambitions including building a uranium enrichment facility on U.S. soil, the documents show.
The FBI task force supervising Campbell since 2008 watched as the Obama administration made more than a half dozen decisions favorable to the Russian’s plan, which ranged from approving the sale of Uranium One to removing Rosatom from export restrictions and making it easier for Moscow to win billions in new commercial uranium sales contracts. The favorable decisions occurred during a time when President Obama and Secretary of State Hillary Clinton were pursuing a public “reset” to improve Moscow relations, a plan that fell apart after Russia invaded Ukraine.
http://thehill.com/homenews/administration/361276-fbi-informant-gathered-years-of-evidence-on-russian-push-for-us