Sprott Stansberry Vancouver Natural Resource Symposium
Hour 1:
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Hour 2:
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Hour 1:
- Segment 1-2: Rick Rule, live from the Sprott Stansberry Vancouver Natural Resource Symposium, joins us to chat about the domestic US economy and how to protect your capital.
- Segment 3: We introduce a new Company in the resource sector, First Mining Finance Corp. President Patrick Donnelly shares the Company’s unique business plan that interests us.
- Segment 4: Marin Katusa of Katusa Researches shares his thoughts on resources, the US dollar and inflation.
- Segment 5: Brent Cook of Exploration Insights expands on his chat at the Sprott Stansberry Symposium regarding the bottom in gold in the late 90s and currently.
- Segment 6: We get an update from Roger Dumoulin-White, President and CEO of Theralase, to find out what is coming down the line.
- Segment 7: We discuss what will drive gold with Jeff Clark of Casey Research.
- Segment 8: Rudi Fronk, Chairman and CEO of Seabridge Gold, provides a recap of a solid gold company.
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sorry … meant Rudi Frank
you meant Rudi Fronk
Fronkly speaking…. I believe Seabridge Gold has a very bright future.
The only objection that I have with Seabridge , is they need a partner to build out the project(s). A joint venture with deeper pockets, and that sometimes mean you are having to trust someone with the control and hopefully they will not get in your back pockets and drain you………………………………………………CCF……….the claw
Yes, but if you heard what Rudi said, there are 12 different companies with non-disclosure agreements discussions options, and you know that those are the Majors or larger Mid-tiers that are going to partner up. What I see is a project that may actually see the light of day, and I’d like to have a position before that news breaks.
Good thought…………………………I am waiting tell I see sunlight….just coming out of hibernation………………………….the CLAW
Does Indiana ever get any sun?
Let me tell you, man, some of the hottest days that I have ever experienced were in Greencastle.
till …….not tell,
OWL…..are we talking weather……or was it a HOT TIME in THE TOWN TONITE.
Fronkly speaking to Frank from moscow…….did you notice that Franky is back?
(Xing Xiang was his old moniker when he got kicked out the first time).
🙂 xing and a xong , I ani’t gone………..
Nice….
I have known Rudy for a longtime and I can tell you that he is not only a quality individual but also a very capable member of the industry.
Thanks for the interview. Would it make sense to discuss the economics of SA’s deposit. With low grades of less than 1/2 gram of gold, is the deposit even economic?
There is plenty of gold in the ocean, but not economic to extract. $7 EV to oz of gold tells you nothing. You can buy free cash flow operators for almost cash value. Why SA?
I forgot to add: I’m not complaining; just understanding why this company is or could be an outstanding investment vs others. Is this a call option on $2,500 gold. THM similar? More analysis would be great.
I like International Tower Hill Mines and they have a large asset in a good geo-political mining district, but will need a higher gold price north of $1400-$1500 to make it viable. If you believe Gold will be above that price one day, then the current price is a steal, but it would need to be a longer term hold for 1-2 years. I have a small position in them that I’m just holding on to for the long haul in case someone buys them out for their asset.
http://www.ithmines.com/_resources/presentations/ITH_Presentation.pdf
Good luck to all in their investing!
Fair enough.
Big All
We are reaching a plateau where the ‘father of lies’ (one Biblical definition to describe Satan) is reaching its zenith. Speaking of ‘perverse incentives’ as cited by Rick Rule in relation to Vancouver’s drug felony/programme, you’re right, lies or double-speak are now everywhere. Here in the UK certain convicted sex offenders (but whose conviction looks decidedly unsafe) forfeit privileges in prison, not least those of being transferred to a prison nearer to their families, on account of their remaining ‘in denial’ over their offences. Being ‘treatment ready’ is a euphemism for admitting to guilt even when a prisoner claims to be innocent.
Orwell said something about a time coming when speaking the truth would be seen as an act of treason. So we have it with sloth identified as good like debt (70% of Americans I understand are now dependent on debt). And forget all about hard work as demonstrated by Caterpillar’s long-term demise, and instead grow indolent with Facebook and Netflix becoming all the rage.
Meanwhile we have ‘swarms’ of migrants – to use PM Cameron’s unfortunate term risking life and limb to cross the Channel, this even as our PM claims that there’s plenty of work over here…Presumably his idea of plenty of work is to do with flipping burgers and working in western style sweat shops.
End Times………could take on a new meaning for many.
Reverend,
Of course, I simply cannot disagree with you. I will not stay quiet and our forum certainly proves that.
After my stroke and, most recently, problems with my pacemaker, all coupled with Kathy’s challenges I have decided that to remain effective I have to look at the positive side of everything.
Of course, this will never stop my comments but I must not obsess on the negative only try my hardest to “spread the work” in a sane manner.
Yes Al – accentuate the positive, eliminate the negative and don’t mess with Mr In-between. Best to you and Kathy.,A
As always, many, many thanks Reverend!
Here is a topic to debate:
How high gold will rise from a major low depends upon the entire political landscape. Will we still have a free market for gold, or will it move entirely underground, deemed the money of “terrorists” in an attempt to hunt down business conducted off the grid?
My thoughts are that investing in coins rather than bars or “rounds” MIGHT give you a better chance of survival when they come for your gold and silver.
THE TERM…….DIVERSIFY……….comes to mind…….OWL’S favorite word………. 🙂
Gotta tell you Bobby, I really don’t think that your scenario will not happen in the short term. There really is no point at this moment in time.
Bobby…..I think you have a valid point concerning coins, BUT MAKE SURE THEY ARE GRADED, then they might fall under the protection of antiques…………JERRY
But, I think they (the corrupt ones)……will go after the MINERS , before they go after the little people……………………………..jmho
Also, Bobby I cannot stress enough that you deal with a very reputable dealer.
Doc seems to have one, by the way.
I believe that, for the time being, gold will remain in a manner as it is today. Free?
Gold is already underground when you consider the machinations of the BIS and IMF ECB & FED to keep the show on the road and wheels to the rail.
Gold has always lacked transparency-murkiness is a feature of both the physical market and the paper one.
If gold is outlawed the price will diverge-official price and underground price.
The black market price will be higher then official.
Mining companies many have just one buyer-the state at an ‘official’ price
Jewellery shops may be nationalised.
Nothing is impossible in a real crisis when the banks are permanently closed-they will do everything ,and then some, to keep their grubby hands on the tiller.
There is also no doubt that the terrorist card will be played to denigrate real money -with the ‘free press’ relishing the job.
We live in a world of smoke and mirrors,madness & crowds.
The ending is going to be a variation of Weimar with many destitute wondering where their entitlement dissappeared.
And, it remains perhaps not my favorite word but certainly my favorite action when it comes to this crazy world we live in!
Very thought provoking comment,Jim. Thank you!
Yup, and adding to the madness is Martin Armstrong. He starts the following article by saying: “Well if you ever needed PROOF that gold is not money, but rather simply an asset class, all you need to do is look at what governments are doing.” —–
He then goes on to show NO proof at all.
Note to Martin: Governments/tyrants can label any item anything they want but, much to their frustration, that does not make it so.
Forgot the link!
http://www.armstrongeconomics.com/archives/date/2015/08
Hmmmm, a link to Martin’s site. You must be among his fans.
Boy, I’d keep your deductive abilities away from your investment decisions if I were you.
Ah, but you are reading him! How interesting. Normally when I think someones opinion is worthless (as you do regarding Martin) I don’t waste any of my time following their ideas or opinions.
Very revealing. A secret admirer perhaps?
Don’t put words in my mouth, Bird. “Very revealing” it is not.
Who is Bird?
And you expect to get taken seriously? How stupid do you think everyone here is?
Please, I am the Listener just as my handle states. Just a listener on Al’s show each day same as you. I would appreciate you not calling me by any other name from now on. I am however a big fan of Bird’s if that helps you.
Gold to 968!
You’re nuts dude!
I understand what you are saying, Jim, and why you are essentially repeating information gleaned from reading a number of “guru” commentaries. But I would like to ask some questions, in order primarily to provoke thought on the subject of a potential world financial collapse.
You posit a variation of a Wiemar collapse, which in other words is a hyperinflationary collapse.
What makes you believe in hyperinflation in our future?
i.e. How is it possible for prices to increase (or currency to become worth less and less ),at a high rate of change, when the world has, if anything, a surplus or manufacturing capability and a a surplus of people.?
.
.
.
What is there to stop all major countries, under a condition of crisis, from getting together and agreeing to all print money?
.
.
.
.
What will make countries bail out those banks that have made insane derivative bets?I understand we have an enormous derivative problem for major international banks.
I would point out, however, there are thousands of smaller perfectly safely-run smaller banks and credit unions, private banks, building societies, etc.
Why should not governments allow derivative-writing banks to fail?
Sure it will be a real mess for a while.
But most governments don’t have any money, other than what they take from the people by taxation. Most governments have only debt.
Why should one not expect a debt jubilee?
i.e. governments declaring all debt void and startover again.
(Might cause war, but…..?)
Big Al & Cory – Very good show.
Rick Rule, Brent Cook, and Marin Katusa are always fun to listen to, and I really was happy you covered First Mining Finance Corp, as that business model is very interesting and I respect Keith Neumeyer as a CEO. Jeff Clark and Rudi Fronk were also good to hear. Good stuff!
I am certainly proud to call them all friends and folks who I respect.
First Mining Begins Trading on OTCQB
July 27th, 2015
http://www.firstminingfinance.com/news-room/first-mining-begins-trading-on-otcqb
I will wait to see how the price acts going into the final lows. In the case of further dilution, there is now a pattern that can be used to make future guesses on PP shares and warrants that will be good for 5 year periods.
First Mining also granted 980,000 stock options to directors, officers, employees and consultants of the Company. The stock options have an exercise price of $0.40 per share, are exercisable for a period of five years and are subject to vesting provisions. These stock options are governed by the Company’s Stock Option Plan.
I’m thinking the same thing Markedtofuture. I’m waiting to see how it does if we get the price and sentiment washout in PMs later this year or early 2016. That will be a good time to go bottom fishing for a number of quality mining stocks and we are getting closer all time.
Good luck to you in your investing!
Following Rick Rule is my advice.
He’s a sharp guy, and entertaining. He doesn’t get every call right, but he has a great deal of experience in this space and understands the cyclical nature of the business.
LAKE SHORE GOLD ENTERS INTO ARRANGEMENT AGREEMENT WITH TEMEX RESOURCES CORP.
TORONTO, ONTARIO — (Marketwired – July 31, 2015) – “Lake Shore Gold Corp. (TSX:LSG) (NYSE MKT:LSG) (“Lake Shore Gold” or the “Company”) today announced that it has entered into a binding arrangement agreement (the “Lake Shore Gold Agreement”) with Temex Resources Corp. (“Temex”), on the terms proposed by Lake Shore Gold on July 16, 2015 (the “Lake Shore Proposal”), and disclosed in the Company’s press release of the same date and also as described in further detail below. The Lake Shore Gold Agreement follows notice that Temex has terminated an arrangement agreement with Oban Mining Corporation (“Oban”)…”
Almaden Updates Spin-Out Timing; Sets Transaction Trading Dates
Pursuant to the Plan of Arrangement, Almaden’s shareholders will exchange their existing common shares of Almaden (each an “Almaden Share”) and receive one “new” Almaden common share (each a “New Almaden Share”) and 0.6 common shares (each an “Almadex Share”) of Almadex Minerals Limited (“Almadex”) for each Almaden Share currently held.
Almaden anticipates that New Almaden Shares will commence trading on the Toronto Stock Exchange (the “TSX”) and the NYSE MKT on Monday August 10, 2015. In order to benefit from the Spin-Out and receive Almadex Shares, an investor must hold, or execute a trade to purchase, Almaden Shares on the TSX or the NYSE MKT before the close of trading on Friday August 7, 2015.
Lake Shore Gold is well run company, and I thought those following the Oban Mining Corp (originally a 5 way merger, but now a 4 way merger) would find it interesting that LSG gobbled up Temex from that merger.
That is a very interesting and I personally think sensible action on the part of all of the players.
TSX: POM, NYSE MKT: PLM
NEWS RELEASE 2015-06
POLYMET AND GLENCORE AGREE TO EXTEND TERM OF US$34.2 MILLION
CONVERTIBLE DEBENTURES AND AMEND SHARE PURCHASE WARRANTS
I see Polymet as potentially being taken over by Glencore or another large commodity company in the next 12-18 months. I mentioned previously that I followed Duluth Metals for the same reason, and made a nice chunk of change when Antofagasta took them over.
Polymet is exploring and developing their asset in the Duluth Complex, a much-studied but not fully explored or understood geological formation near the Mesabi Iron Range, contains one of the world’s largest known undeveloped accumulations of copper-nickel-cobalt & platinum-group-metals (PGMs).
For the record, I still expect it’s share price to fall further. I’m out of the stock at present but have been watching it correct down and it is becoming quite attractive. If it gets down to the $.75 level for the US version (PLM) then I’ll be loading up. I am also waiting to see if they continue to overturn the environmental objections, but have done very well thus far. Glencore owns 28% of the company now, so getting into a position before a takeover should yield a nice multiplier effect, but I’m waiting for it to find bottom with the rest of the commodity space.
How much farther, Shad?
First major support at $.84 and then worse case scenario $.69 (lows from Oct 23, 24, 25th, 2013). I’ll be a buyer if we get down near $.84, and I’ll go in heavy if we get down near $.69 later this year during the commodity lows.
Care to put any odds on that?
Endeavour Mining Q2 2015 AISC/oz of $898, Profit of $33M And $20M Debt Payment in July
Almost forget this stock, I have a few thousand shares stuck in one of my retirement account. I used to like it but simply not sure why it goes nowhere with decent result. Anybody with idea about it?
Personally, I like EXK and will probably purchase it in the future—it’s on my favorite list for the bottom of the PM stocks.
Ditto Doc. I’ve owned it in the past, and have closely tracked their progress, and they have great assets and are still working to bring down all in costs. It is on my shortlist to acquire when there is more confirmation that the major bottom is finally in for PMs.
Stillwater Mining Company Reports Second Quarter 2015 Results
Thanks for all that information, Shad!
Lots of news out lately, so its easy to miss all that is going on so some of these press releases seemed interesting to post.
Al and Cory:
Once again, another excellent weekend program.
Thanks Dai Uy!
SEG 2………Rick Rule…….this is the time to have cash. FROM cash is trash, to cash is KING……opportunities await……………………………………………..CCF
Cory has really matured as an interviewer!
Absolutely no question about that Mr.Tracy!
DT:
and an excellent commentator as well!
….and he’s got age on his side DT!
Boy, does he ever Reverend!
I would absolutely recommend a visit to Gold TA Paradise:
Phase III – Apocalypse Now (Part II)
http://goldtadise.com/?p=342329
Phase III : Bear Market Models
http://goldtadise.com/?p=342366
Phase III- Annihilation in the Precious Metals Markets…”Are You Serious ?”
http://rambus1.com/?p=22578
This was Part I I think to go with Part II above (Apocalypse Now)
Very timely stuff.
The middle link is particularly interesting as it goes into detail on some great bear market charts like 1929-32 Dow and 1989-92 Japan.
The above links are to posts on the site by its senior posters that outline the key features of bear markets. They seem to me to be of complete relevance to exactly where we are in gold and mining today.
thanks Silverbug Dave
Thanks for posting those links Silverbug Dave. Much appreciated!
This was a great chart from 1907 Copper Bear as a analogy to where we are today in the Gold space from those articles. Very interesting as we definitely look like we are in that falling wedge in Phase III.> The bottom wouldn’t have to look this way though if, after trending gradually lower later this year or early 2016 , that we break to the upside out of the falling wedge.
This is why I am waiting for the final plunge in Gold to see if it will be breaking the trend line and a free fall like this chart (posted below), or if it will be more gradual, staying in the Falling Wedge pattern, and then finally breaking out to the upside to kick off the new Gold bull.
If the Falling Wedge pattern does break down below the trend line, then the bottom would fall out like that, and it could still happen in the next month or two. However, it is more likely that we’ll just keep trading in the range with a bias to the downside into that falling wedge later this year or early 2016 as Doc has noted.
http://forum.rambus1.com/wp-content/uploads/2013/12/sc-154.png
Al, this show is under weekend special and is currently not in the list of weekend shows for some reason. I thought there wasn’t a weekend show for a few minutes.
http://www.kereport.com/category/weekend-show/
Sorry and, yes, I noticed that this morning.
Actually the Chinese market had been rallying for almost two weeks, so the bloodbath phase in gold wasn’t due to margin calls in China as there were no margin calls being generated at that time.
There are cycle writers that are stating that the five year lows are now in on precious metals.Black Swans,Black Elephants…. I never heard any of this in late 2011 or early 2012.
As for the dollar being king,I do not think Mr. Katusa has been to Asia.Also,why would anybody refer to US govt stats as being relevant when we all know it is B.S. Shadowstats shows inflation at 7.5%,not negative -or deflationary- as he is reciting from the Fed playbook.Then again
The term “Black Swans” is getting thrown around much too often and about anything now. Greece for example was not a black swan as it has been playing out for years, was not a surprise, and has been telegraphed play-by-play forever.
A Black Swan is something like the Fukushima disaster that is truly terrible, comes up suddenly, and nobody is planning or prepared for it. Japan had a bad Earthquake, followed by a Tsunami, and then the reactor back up power generators in the basement were flooded so they could not properly cool down the reactors. As a result it has thrown a wrench in the gears of the nuclear industry for years. That is what a Black Swan is…..not the Fed deciding to hike rates, or ISIS beheading someone, or an Iran agreement failing.
If Pakistan launched a nuke at India, that would be a Black Swan. They are rare surprise news events, that take the whole world by surprise and that dramatically uproot a marketplace. Now anything that normally would have just been called “News” has turned into the 15th black swan for the year. People are over-using the term, and hyping things that are not really enough to move the Gold prices for a flight to safety.
Then again,most pundits side with the strong.
Rick Rule and Marin Katusa were absolutely brilliant. How many people will actually take their talking points serious.
Not many I suspect.
A fantastic show Al and Cory. Very Impressive line-up!
Thanks V. B the way I take them both quite seriously!
I listened to the segment about First Mining Finance, and I think this is part of the problem facing the mining industry. At current prices, precious metals appear to be undervalued, and mining shares are even more undervalued relative to the metals. So I can understand why they would be interested in buying distressed properties at these valuations. But I think the industry would be better served if investors bought the physical metal itself. It is well understood that metals prices are set in the paper markets, which are controlled by bullion banks that can sell short unlimited amounts of contracts. So I don’t think Keith Neumeyer or Eric Sprott are going to accomplish much by buying mining properties. That’s not what the bullion banks are doing. JP Morgan Chase is reportedly acquiring a large position in physical silver bullion, and may even be attempting to corner the gold market. They understand what they need to do to keep the game going. Meanwhile our side is just hoping and praying that some black swan event appears. As if somehow, something will cause a market reset with much higher gold and silver prices. Anyone seen Andrew Maguire’s mysterious Asian gold exchange, the one that deals only in physical metal? I think the people in the hard money camp are like generals fighting the last war. We’re sending out battleships while the other side has aircraft carriers, and we can’t understand why we are losing. It’s like Peter Schiff wondering where the bond market vigilantes are, as if it’s still 1992. There’s a quadrillion dollar derivative market now, and the Treasury can control the long end of the bond market with interest rate swaps. They can also use derivatives to manage the precious metals markets, at least until they run out of bullion. But the gold and silver bulls aren’t buying bullion; they’d rather buy paper assets, like shares and mining properties. It’s like Pogo said, we have met the enemy and they are us.
Victor…good points…….
Maybe you are correct, but I personally think that it is a very interesting, and potentially very profitable, way to work in this sector.
When you buy mining companies with good assets they are buying the ounces in the ground much cheaper than just buying the bullion. It makes all the sense in the world.
Thanks Al, Cory & guests.
That was a great listen.
Cheers.
Many thanks Skeeta!
here is a blast from the past!
Grandich Raises Gold Challenge to $2 Million
Article
Comments (23)
MARKETBEAT HOME PAGE »
3
By Mark Gongloff
Everett
Two MILLION dollars!
Newsletter writer/bomb thrower Peter Grandich is at it again.
A few weeks ago he launched a broadside rant against three of his fellow newsletter writers, including Dennis Gartman, who have recently dared to suggest that gold might possibly not be a great buy right now! After labeling them the Three Stooges, he challenged them to a $1 million bet that gold will hit $2000 an ounce before it hits $1200 an ounce.
The response from the Stooges ranged from calling Grandich a nut job (Jon Nadler of Kitco) to wishing him a Merry Christmas (the chivalrous Gartman).
Having not thoroughly spooked all the horses with that first bet, Grandich has today raised the ante, directing all of his ire at Nadler and challenging him to another bet, now $2 million, that gold will hit $2100 before it hits $1000:
I hereby challenge Mr. Nadler again, this time raising my wager to $2 million — still not anyone’s “life savings.” I’ll increase the bet’s target price by $100: that gold will see $2,100 before $1,000. The winnings are to be donated to charity.
It’s a shame that someone can continue to be so wrong without being questioned. When Mr. Nadler resorts to misrepresenting me, it’s time for him to put up or shut up.
If Mr. Nadler’s forecasts have been so profitable to him and his readers, why wouldn’t he accept this challenge?
I have arranged for the law firm of Lomurro, Davison, Eastman & Munoz of Freehold, New Jersey, to hold the wagered funds in trust. My offer to Nadler is good until 12:01 a.m. ET January 9, 2012. And since my side of the wager is derived from my personal funds, Mr. Nadler’s $2 million match to my wager shall also be certified as deriving from his personal funds or funds derived from the assets of his immediate family.
MarketBeat doesn’t want any part of this debacle, but will agree with Grandich that $2 million is “not anyone’s ‘life savings.’” MarketBeat’s “life savings” are more like $200.
Gold was recently up 1.65% at $1566.40. Your move, Nadler!
Update: Nadler responds in the comments section:
For the record, what I said about the man was: “Peter Grandich is not worthy of my time, or of my attention. He is a desperate man, desperately seeking attention,” said Nadler, in response to an email requesting comment on Grandich’s blog.” That is not a “nut job” quote. … Finally, also for the record, I do not advise my readers and I do not predict anything, unlike Grandich. I do find it sad as well as humorous how he keeps moving his betting targets now that his first number is about to fall. Totally disingenous. That is why no one is paying attention.
PS: Here is one bet you can count on: Effective today, the name of Peter Grandich will not be mentioned by me directly or indirectly in any way. He no longer exits as far as I am concerned and no time of mine shall be wasted on anything that has to do with him and his antics.
Update 2: Grandich writes:
In typical “Tokyo Rose” fashion, Nadler not only totally fails to answer truthfully about his actual track record, but he again outright lies by using a $1,500 number that never existed in any and all claims except in his warped and devious mind. The sad part is the author of the column doesn’t seem to grasp that nor the ample evidence of exactly how wrong Nadler has been for years. And may I add as a standardbred horse owner that if nadler was indeed a horse, it would be much easier to accept what he dumps and leaves in his path of twisted truths, lies and deception. P.S. Also as a horse owner I can say based on his heartless track record, he couldn’t find a suitable race even at a state fair. P.S.S. And to Mr. Gongloff, thank you for proving my point about most in the media.The great Jim O’Connell must be wiping yet another tear from his eye in Heaven.
Update 3: Grandich further adds:
Jon Nadler wrote :
“PS Here is one bet you can count on: Effective today, the name of Peter Grandich will not me mentioned by me directly or indirectly in any way. He no longer exits as far as I am concerned and no time of mine shall be wasted on anything that has to do with him and his antics.”
This is basically the line Nadler used when he said gold topped out at $800 and was not in a bull market when ROB-TV offered to host a debate between us only to have Nadler hide in the safety of his useless column and twist facts and comments of mine and others who did something he never managed to do since gold was $300 – gets its long term direction correct.
If it was just a matter of being wrong there would be no challenge because I’ve been wrong many times only I don’t try to change history and make like it never happened. Sadly, this journalist is like many who couldn’t begin to be truly fair and balance. Thankfully, my Savior more than makes up for it and that shall be my comfort for the lies and deception that nadler continues to dwell in (and this columnist indirectly helps support with his first grade wit and charm). End of discussion with this column but I shall never waiver to speak up when such decitful people like nadler make a mockery of truth.
http://blogs.wsj.com/marketbeat/2011/12/30/grandich-raises-gold-challenge-to-2-million/
Peter is a Christian as everyone knows.
Peter is also a marketing genius.
We had a bit of a misunderstanding some time ago, not a misunderstanding on my part by the way, and you will note that he is not on our show anymore.
I guess you know what it’s called when you have two christians in a room?
– a disagreement.
And here’s proof that Jesus loved a good fight:
“For where two or three are gathered together in my name, there am I in the midst of them.”
Matthew 18:20 KJV
I wondered what happened, as I liked hearing Peter’s thoughts on the show. Maybe in the future he will form a new understanding and we’ll hear from him again.
Maybe he should donate the 2 million to charity.
Doc e EXK is not endeavor mining…. both are solid cos though imo..
you better clarify..
thanks
Agatha, thanks for the comment—you’re correct. I’m referring to endeavour silver
Richard tell AL to play diss BOB CHAPMAN VIDIO ! Ate the SPROTT PLAYS ! https://www.youtube.com/watch?v=5_jc_bxSeFc
Thanks for the video Franky…..(xing xiang).
Good to hear from you franki.
Endeavour 2015 AISC guidance -March 17th,15
All-in sustaining costs (AISC) net of gold by-product credits, in accordance with the World Gold Council standard, are now projected to be $16.00-$17.50 per oz of silver in 2015.
They are operating at a loss,and have been for a while.
Endeavour Silver fiscal 2014 AISC-March 5th,15:
All-in sustaining costs decreased 8% to $16.79 per oz silver payable (net of gold credits)
Yes Endeavour has done well continuing to bring down their AISC, so a 8% decrease is noteworthy. Just like Alexco, Aurcana, Americas Silver Corp, Great Panther, Avino Silver & Gold, Santacruz Silver, and really most of the smaller Silver producers, they’ll be doing well once Silver is back up to the $18-$19 level, but they’ve been crushed and operating at a loss for a while with spot prices below their average cost of production. Once we get the final lows in PMs, these will be excellent companies to scoop up along with some of the larger producers like Mandalay, First Majestic, Silver Standard, etc….
Good luck to all in their investing.
Endeavour has burnt through their bullion inventory and are operating at a loss of up to $3 per oz..
SantaCruz has refused to list AISC lately but their last reporting in May was at $20.68 per oz..
Alexco have not operated since 2013 and have consciderable SLW debts weighing them down.
Avino-we have discussed before.
Great Panther have never turned a profit for their shareholders,that I am aware of.
American Silvers are operating at $17.15 AISC Q1 15 with guidance up to $17.50 per oz..
Aurcana have not given an AISC number in Q1 but they stated cash costs of $7.58 per oz in Q1.They were shooting for $12.50 AISC by June but they have the Shafter debt with the costs of carrying a mine that is dormant hurting their bottom line.
Silvercrest were operating at a profit but are gone now.
Excellon are going through their dewatering issues and have not operated at a profit for a while now.
The entire junior silver space needs higher prices ASAP but some of these have what it takes to be successful with higher metals prices.
Yes agreed. The whole sector is under distress at these metals prices, so the question is: Will Silver get backto $18-$19 and how quickly?
I have a small position in Silvercrest (tied up with the merger with First Majestic) and Americas Silver Corp. I’ve been waiting on the rest because everyone is having such a rough time at $14 Silver (obviously). I really like Sierra Metals and Mag Silver
as they have done better in this lower price environment, but there may be more upside potential in some of the others when metal prices do rebound.
Here is a 200 day composite chart comparing some of these small producers, where you can see how far miners like Santacruz Silver, Endeavour, Great Panther, Impact Silver, Alexco, etc… have fallen, so the rebound may be more dramatic.
http://stockcharts.com/freecharts/perf.php?MVG,AXU,SVM,IPT.V,SCZ.V,SMT.TO,ASM,GPL,SMNPF,EXK#
Safe injection sites help stop the spread of AIDS and other diseases, which in the end safe the health care system a lot of money.
great point Chester Field. It is a public health issue and Canada is addressing it in much better form than the US who views addicts as criminals instead of people in need of medical help. The reality is, people are using and are the most likely to spread more disease if not dealt with in a similar way, and if more time was spent trying to assist those in needs rather than the insane waste of money and propaganda on the “war on drugs,” then we’d have made much more progress as a society and helped many more people (freeing up jail cells for hardened rapists, killers, thieves, and maybe a few bankers).
Homes for the homeless saves money too, but that might be socialism.
Well, I’m not a fan of socialism, but just think the war on drugs is a failure, and many countries treat addicts as people in need of health treatment, not criminals.
I see the safe injection sites more akin to passing out condoms to stop the spread of disease, so I’m a fan of the small cost of prevention versus the much larger and more expensive health challenges on the back end.
Its still socialism Shad. If government pays for it.
Just playing devils advocate.
I think there is strength and weakness to socialism and capitalism.
Both work for awhile, how long might depend if the government is communist,monarchy,dictatorship,democracy etc.
Well I’m all for privatizing the effort or having a non profit organization that helps address the public health concerns of addicts using needles, and the potential spread of worse disease. It doesn’t have to be something that the federal government pays for. My point was to agree with Chester Field’s comments about the confusion in the editorial about WHY would Vancouver offer the safe injection sites is all.
Not to mention, the tax payers have already wasted billions of dollars in the “war on drugs” and it has been a dismal failure and burnt through tons of money, racially profiled young black males for marijuana charges filling up the jails with silly charges, and has not made a dent in addressing the real health concerns. It makes more sense to redirect the police to issues that are much more important (murder, rape, theft, major crimes), redirect those funds to actually helping people with the medical addictions and abuse, and get the government out of playing the moral judge for citizens (which it has no right to do anyway).
Of course Shad, pot smokers been saying that for decades.
Only dopes smoke dope tho.
Its how our system works, my favorite story is the guy that went to jail for 11 years for a joint in Texas, about 20/25 years ago, the criminal records for so many are great too,
but lets remember a big reason was/is to keep those private prisons full.
So seeing it in a strictly capitalist way, the war on drugs was a success in a few ways.
There was/is a lot of profit in the war on dugs.
How about the societal repercussions Shad? I too am not a fan of socialism as everyone should be aware, but I do agree with your train of thought. I mean, what the heck, best way to stop a train wreck is to reroute the trains.
Agreed on rerouting the trains….. a fresh approach is needed.
Gold ticking up.
Actually right now, slightly ticking down!
Extended slump in oil taking toll on industry, economy
Drivers, shippers delight in low prices, but oil industry wrestling with layoffs, losses
Associated Press By Jonathan Fahey, AP Energy Writer
July 31, 2015 2:36 PM
https://finance.yahoo.com/news/extended-slump-oil-taking-toll-183201770.html
Here are a few of the takeaways from the article above that stood out to me:
___________________________________________________________________________
“Industry layoffs seem to be accelerating. Royal Dutch Shell, while announcing Thursday that profits fell 25 percent in the second quarter, said it would cut its global workforce by 6,500. Chevron’s quarterly profit fell 90 percent and CEO John Watson said the company is reducing its workforce “to reflect lower activity levels going forward.”
“Layoffs at three of the big oil and gas service companies are near 60,000 after two of them, Halliburton and Baker Hughes, revealed further layoffs in quarterly filings last week.”
“Investors also feel the pain. Lower oil profits have an outsized effect on stock markets because the companies are so enormous. Analysts at RBC Capital Markets wrote that when oil prices drop by 10 percent, earnings for the overall S&P 500 fall by 1 percent.”
“But geopolitical forces have also increased the pressure on prices. Iranian oil is poised to return the world market after years of sanctions, the Greek debt crisis is reducing economic growth in Europe and a shake-up in Chinese financial markets is reducing demand growth in the world’s second largest oil consumer.”
“After nearly four years near $100 a barrel, the price of oil began slumping a year ago, falling to $43 by March. It surged briefly all the way to $61 in June, but then fell again. Oil traded just above $47 a barrel on Friday.”
“In a report Friday, IHS Energy analysts predict further declines in oil prices. IHS says oil will have to fall into the low $40 range and stay there for “several months” before U.S. production growth slows and the supply glut eases.”
Liked Rudy Frank talking about SA.