Comments on today’s market closes.
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After some days with record high closing numbers, today the major U.S. equity markets backed off a bit.
The U.S. dollar is going to go significantly lower:
ASM needs to take a course in headline writing.
Avino loses $450,087 in Q2
2016-08-15 21:45 ET – News Release
Mr. David Wolfin reports
AVINO REPORTS Q2 2016 FINANCIAL RESULTS
Avino Silver & Gold Mines Ltd. has released the consolidated financial results for the company’s second quarter ended June 30, 2016. The financial statements and management’s discussion and analysis can be viewed on the company’s website, on SEDAR and on EDGAR.
In fact they had good earnings AISC of between $15 and $15 and have been spending money to increase both production and efficiency.
But with a headline like that their stock is, of course down!
DFS – That was not the headline that Avino released, that how a different news agency decided to title it.
Avino’s press release simply said: “Avino Reports Q2 2016 Financial Results”
I thought it was fine, but anticipate next quarters revenues and cashflows to be higher (and more impressive) because their average selling price for Silver should be about $2-$3 highers, and Gold should be about $75-$100 per ounce higher. Avino will also have worked through most of the low grade ore and will be tapping into higher grade ore moving forward.
I’ll also need to dig in a bit deeper to find out why their AISC rose year or year, and it may just simply be the lower production volumes for the quarter. Also, what they are spending on ramping up to commercial production at the Avino mine may have played a factor.
Keep in mind that they just announced a positive development in commissioning & builiding the new tailings facility, (so that they can mine and process the ore in the old tailings). That will give them 5 years of increased production and drive the costs down further moving forward. I would anticipate that starting in 2017.
SECOND QUARTER 2016 HIGHLIGHTS
– Declared Commercial Production at the Avino Mine
– Generated revenues of $11.9 million from the sale concentrates, a 102% increase from the second quarter of 2015
– Mine operating income amounted to $3.2 million, a 36% increase compared to the second quarter of 2015
– Total equity reached $58.8 million, a 20% increase compared to the second quarter of 2015
– Net income (loss) after taxes amounted to $(450,087)
– Produced 629,780 silver equivalent ounces, including 380,620 ounces of silver, 1,509 ounces of gold and 1,054,935 pounds of copper
– Consolidated all-in sustaining cost (“AISC”)2 was $14.51 (US$11.27) per payable silver equivalent ounce, a 247% increase compared to $11.72 or (US$9.53) per ounce in the second quarter of 2015
– Average realized selling prices for silver and gold were US$16.99 and US$1,262 per ounce respectively
– Cash and cash equivalents of $10.7 million were on hand at the end of the quarter
Cyprium Mining Corporation (CUG.V)
$0.09 up +$0.02 (+20.00% gain)
Hi Shad:
I usually don’t post stocks but I owe it to you and Mathew for giving us so many good prospects.
I like your 10 bagger comment on Golden Predator. They did a reverse split a while ago and I was jaded after that. I saw it going up but didn’t trust it-big mistake.I still have some shares,but of course, not enough.
Cheers!
Thanks JohnK. Yes, I’ve experienced the exact same thing where some company disappointed me with past performance or bad management decisions, so I threw them out swearing never to invest in them again. However, over time some of those companies do right the ship and proceed to turnaround their operations or have some substantial update, and so the stock starts to move. “Once bitten, twice shy” kicks in so I was resistant to get on board, and they would watch the stock climb higher and higher. Then it becomes obvious the stock is outperforming their peers, and you just want to kick yourself for having been in the right place, with the right company and suffered the pain, but then to add insult to injury, you miss the gain.
This is precisely why I’ve been on mission looking for these very types of turn-around stories, as often they have the largest percentage moves coming out of their bottoming process. It is not without risk, as they could belly flop a 2nd time, but some of my better gains this year have been in the “turn-around” category.
Another low flyer hit’s the radar.
FDC.V Forumn Uranium +35.29 % Do your own DD.
http://stockcharts.com/h-sc/ui?s=FDC.V&id=p06609604599&listNum=17
Yes, I’ve been tracking Forum Uranium for years, but noticed it finally starting to move. I’ll need to dig in on their news flow and updates and see what they’ve been up to.
Doubt not the Soros is evil. He plunders societies. He killed the pound, he is killing the Euro, and he will set sights on the dollar.
Soros also betrayed Jews to the Nazis. He is pure evil.
I typed that not the …… iPads are stupid, programmed by idiots, bought by fools and used by cretins.
Lot’s of content on the dollar by Doc, Al and Cory. Here’s another opinion to add to what was said: http://www.marketwatch.com/story/heres-an-interesting-theory-about-why-the-dollar-is-dropping-2016-08-16
Watch this if you believe regulations (excessive regulations) don’t cost and kill.
I increasingly hear helicopter money being the savior of our economic system.
Or Japan’s system, or…..
Why do we raving lunatics in charge of our economic systems?
Have they really thought though beyond a momentary stimulus? What then? More helicopter money, or B52 money? Why don’t they talk to Congress and inform them that the patients are dying because of the leeches. Too much waste, too much regulation, too much spending.
There is no quick fix. David Cameron knew that in England, but he just got tired of ever fighting the morons. It certainly is hard trying to make government frugal when at best it is called austerity, and most of the time a lot worse.
Let’s face, their never has been any country in all of history that has survived deficit spending for more than a couple of generations. We enrich our standard of living now by borrowing from the future; it is immoral….. We are stealing from future generations.
Lord Rothschild buys gold and sells shares
August 16, 2016
Lord Rothschild, chairman of RIT Capital Partners, is pessimistic on the outlook for financial markets and has moved to reduce the trust’s exposure to quoted equities from 55 per cent to 44 per cent since the start of the year.
Some of the proceeds have been used to buy gold and other precious metals, which at the end of June accounted for 8 per cent of the £2.8 billion portfolio.
In the trust’s half-year results, released yesterday, Rothschild remarks that ‘we are in uncharted waters’ due to ‘central bankers continuing what is surely the greatest experiment in monetary policy in the history of the world’.
Rothschild said to date quantitative easing has successfully driven stock markets higher, but he fears this cannot go on forever. He adds that a number of headwinds could also derail markets.
http://www.moneyobserver.com/news/16-08-2016/lord-rothschild-buys-gold-and-sells-shares
App maker: Trump will win election
LOS ANGELES — Despite a majority of opinion polls showing the 2016 presidential election going to Democrat Hillary Clinton, a smartphone app developer says his data suggests challenger Donald Trump will be the victor
http://www.usatoday.com/story/tech/2016/08/13/app-maker—trump-win-election/88640044/
MTF, Trump is in the catbird seat, always has been, he will turn America’s economy around. DT
Financial stability:
http://mcalvanyweeklycommentary.com/wp-content/uploads/ica2016-0817.mp3
GDXJ – the fork is working:
The yen looks great:
The UST Bond remains weak versus gold and looks like it is about to take a dive:
Another strong move higher is coming soon for the loonie:
http://schrts.co/kMmtCa