Market signs that rates are moving higher
Marc Chandler, Managing Partner at Bannockburn Global ForEx joined us to recap the Evergrande situation and select central bank meeting from last week. Interest rates kept being brought up with the market factors that are showing they will continue higher.
Click here to visit Marc blog – Marc To Market.
This interview was recorded on Friday afternoon.
Sure thing DT. Always glad to bounce around some ideas on mining stocks. Yes, Novo has a beefy stake in New Found Gold, and despite many of the bashers not liking it when they acquired those shares, it has been a fantastic investment thus far by the Novo team.
At first I read it that you bought some NOVO from the sale of your 15 million shares of NFG. That was a humbling moment. Then I read it correctly, but great buy on NOVO. 🙂
Haha! Yeah, DT has been holding out on us with his 15 Million shares of NFG. 😉
Luckily he didn’t sell all those at once, so we dodged a bullet there…
I added a few Labrador today as it is on the NFG fault. I also picked up a starter position in Neo Battery Materials. Kind of interesting. They are working on getting a factory in South Korea which I thought strange since they are Canadian. Then I saw the top 10 battery companies in the world were in Asia. Any, Neo has some kind of process of a metal that is added to the battery process in small quantities that supposed to extend the battery life charging time and reduce or eliminate flammability, if that is a word. I got that idea for Neo from Moriarty’ s “Harvest Time…” article. I already had Labrador which was also in that article. Morarity at 321gold.com as if most don’t know.
/GC needs to hold support of TAS bottom at 1749…..If it fails then another leg down….Overhead 1787 the OUL is resistance and needs to be cleared preferably w volume…glta…probably a intermediate and seasonal cycle low lies ahead in the december/janruary time frame…imho
https://tos.mx/wshKElL
There is a little movement in E79 today which is in the area Kirkland Lakes Fosterville mine and Fosterville South which has some interest here. E79 put out news release that they drilled some core that has visible gold. They also indicated they have no new drill results due to the backup. I guess there is a little buying off of the “visible” part.
Yeah, I saw that E79 has some “visible gold” out on pending assays, so that has created a bit of speculation as to what is coming down the pike… Nice to see that area play around Kirkland Lake’s Fosterville mine getting more attention lately.
As you mentioned, Fosterville South is also very busy exploring all around that area with a massive land package and multiple targets to drill, so I’m eagerly awaiting some more of their drill results as well.
/GC has not yet closed below TAS support at 1749…So I stay and suffer in the miners….My bounce target for /GC would be initially 1833.50 once OUL and TAS top are cleared over…….That is the top of the 9/7 bar due to its volume characteristic….
I picked up some Novo today, with 15 million shares of NFG, worth close to $130 million this stock is wayyyyyyyyy undervalued. Thanks Ex, for the heads up the other day.