Rye Patch Gold explains yesterday’s press release outlining the announced exploration program
Bill Howald discusses the world-class potential of The Florida Canyon Property.
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IPT.V poised to break down here. It could see .20, but it could bounce off of the lower monthly bollinger band, which should be coming in around .25 next month. It’s not doing any significant new upleg from today’s level until February-March 2018. Absolutely no way.
http://stockcharts.com/h-sc/ui?s=IPT.V&p=D&b=5&g=0&id=p06065922688&a=550850190&listNum=1
Spankmeister:
I can remember when I had to prod you to post a chart.Now your drawing lines and hoops.
To me it has been absolutely stunning the way the traders and who knows who else have had their way with Gold and Silver.
It’s gotten to the point as to where it’s laughable.
As long as the President is bragging how well the market is doing I wouldn’t expect anything to change.
The lack of enforcement of regulations stinks. Come judgement Day may the corrupt regulators start their time in hell for eternity, because they admit they they knew what is going on and look the other way.
Preaching to the Choir.
Spanky, why haven’t you pointed out that the miners are bullishly outperforming the metals today?
http://stockcharts.com/h-sc/ui?s=SIL%3ASLV&p=D&b=5&g=0&id=p35248191593&a=550196673
Nothing goes down in a straight line.
http://stockcharts.com/h-sc/ui?s=GDX%3AGLD&p=D&b=5&g=0&id=p47245873891&a=550857968&listNum=1
Backtest (i.e., suckers rally) for GDXJ vs GLD
http://stockcharts.com/h-sc/ui?s=GDXJ%3AGLD&p=D&b=5&g=0&id=p33347873173&a=550858231&listNum=1
Or a bear trap.
Is that a bottom call?
We could rally in the ratio, but until it takes out the Oct 9/10 highs, its just noise before the plunge.
There’s a pretty good chance that it is a bottom for the ratio. Have a look at the 2 hour chart:
http://stockcharts.com/h-sc/ui?s=GDXJ%3AGLD&p=120&yr=0&mn=3&dy=0&id=p34591450448&a=550925823
As expected during a bull market, the juniors are smoking the seniors (GOEX is up 65% vs GDX since 2015):
http://stockcharts.com/h-sc/ui?s=GOEX%3AGDX&p=W&yr=3&mn=3&dy=0&id=p75977738679
Nice, narrow BBs:
http://stockcharts.com/h-sc/ui?s=GOEX&p=W&yr=3&mn=3&dy=0&id=p79991777300
So take a flier on it when it tags the 200 WMA. The stochastics have “breakdown” written all over them.
Look at the higher highs in the SCTR, just like prior to 2016.
Given it broke up out of the triangle and above the 300 WMA, hitting the 200 WMA any time soon is far from a given.
http://stockcharts.com/h-sc/ui?s=GOEX&p=W&yr=3&mn=3&dy=0&id=p79991777300&a=550932329
I reserve the right to sell my Rye Patch without giving notice, but I plan to hold it till gold is 5 or 8K per oz.
The unweighted commodity complex (GCC) is at a fairly pivotal juncture IMO based on the monthly chart. It hasn’t reached overbought on the stochastics for 6.5 years. That is ridiculous. The monthly bollinger bands are extremely narrow now and price is sitting right on top of the lower band. If it can’t muster a rally now, it will be pathetic. It’s basically within a stones throw of the 2016 low, which marks at least a 40+ year low for the commodity complex as a whole. This with the stock market making all time record highs and the Fed having blown up its balance sheet to 4.5 trillion.
If it actually starts another leg down here, wow is all I can say. The Fed has already executed a masterclass on money printing and funneling liquidity into “good” assets. But the class may not be over yet. Just incredible. Think about that–input costs are lower now than in the 1970’s!
http://stockcharts.com/h-sc/ui?s=GCC&p=M&b=5&g=0&id=p36144945386&a=550855131&listNum=1
Periods between overbought and oversold readings on a monthly chart tend to be very long so there’s nothing “ridiculous” about 6.5 years.
Your technical work needs help if that chart makes you big-picture bearish. There’s no need to fear narrow BBs but they do tend to precede big moves.
I don’t know anything. (RM told me that) But here’s a thought.
We know the bankers have large short positions in gold and silver.
We know they like to drive the prices of them down and like to cover their shorts.
Today Gold and silver are going down, but Platinum and Palladium are going up.
Suppose the bankers are worried about the CPC meeting in China starting tomorrow, and are worried that the oil-yuan-gold exchange might suggest that China intends to drive the price of gold up.
Russia and China have been hoarding as much gold as they can get their hands on, we know.
Could it be that fearing a significant price rise imminent, the bankers are forcing the prices down to panic longs to sell, and enable the covering of as many shorts as possible?
The timing is NOW, because the 19th Chinese Congress is upon us.
Thank you for the update Al and Bill.
Bill is saying all the right things however I anticipate the market will not back them due to multiple back tracks on achieving commercial production with the uncertainty of further dilution to the current outstanding shares. It is encouraging that Bill has stated that they will pay for the drilling program with in-house money, which makes me more interested in the Q3-2017 financials to see how much cash Rye Patch has to work with at the end of the quarter and if other expenses can also be covered with in-house money.
I am looking for two things from previous comments from Bill before I am confident the tide will turn in favor of investors.
1. Positive cash-flow in Q4 2017.
2. Commercial production in Q1 2018.
I would like to hear everyone’s thoughts.
Still long in RPM and will continue to hold my shares.
Good luck to all investors and Rye Patch Gold.
+1 Imtiaz. We’re looking at this in a similar way. I’ve got a nice little position in Rye Patch, and have considered adding more to it, but want to see positive cash flow and “commercial production” get locked and loaded first, and there have a been a few delays that have not impressed the markets.
I’ve been a fan for years, and they’ve done a lot of things right and have a string of successes, but 2017 has been one of the first years where they started missing deadlines, not offering accurate guidance on the ramp up, and they sold their Royalty for the upfront payment (trimming down it’s intrinsic value in some investors eyes for the immediate gratification) and then did the capital raise with Otto and friends tore to pieces.
The overshadowing concern is that they’ll have to come back to market, but if we take Bill at his word they are going to fund this exploration out of the production from the mine. I’m OK with that, but would take issue with another capital raise right after the aforementioned prior 2 capital raises just for exploration. It makes no sense to rush that exploration project until the mine is producing real revenues, as the market wants to see them deliver on that plan first, and processing Sulfide ore is a much different process than Oxide ore, so it isn’t as simple as just hunting for more valuable rock. That will be a long process on the Sulfide so no rush. Lets get the mine and mill cranking first.
Maybe Rye Patch and Novo can hire Marc Faber to serve on their board now that Sprott has removed him.
off topic:
VANCOUVER, British Columbia, Oct. 17, 2017 (GLOBE NEWSWIRE) — Novo Resources Corp. (“Novo” or the “Company”) (TSX-V:NVO) (OTCQX:NSRPF) is pleased to announce that recent diamond core drilling supports strong continuity of targeted gold-bearing conglomerates at the Purdy’s Reward tenement, a farm-in and joint venture Novo has with ASX-listed Artemis Resources Limited and part of Novo’s greater Karratha gold project, Western Australia. Over the past two weeks, twelve diamond core holes have been completed in an east-west oriented area measuring approximately 400×200 m (see Figure 1 below). Targeted conglomerate strata have been intercepted in all holes (see Figure 2 below) and remain open into the greater basin to the southeast. Strata dip at very shallow angles, generally less than 10 degrees.
I too own shares in Rye Patch. Still looking good.