Gold Bull Resources – 2023 Work Plans Includes Optimizing The PEA, Greenfield Exploration Work and Possible Land Acquisitions
Cherie Leeden, President and CEO of Gold Bull Resources (TSX.V:GBRC – OTCQB:GBRCF) joins us to provide an overview of the 2023 work plans at the Sandman Property in Nevada. These work plans were outlined in the March 8th news release.
We start with the PEA that was released last year and the optimization opportunities. This starts with including 100% of the resource, where the initial PEA was only considering the top half of the resource. We then discuss the exploration plans which will be focused on more greenfield areas on the Project and a focus on buddingtonite, which is considered a close proximity indicator of the Sleeper high grade gold vein and other high grade Nevada gold deposits.
If you have any follow up questions for Cherie please email us at Fleck@kereport.com and Shad@kereport.com.
Click here to visit the Gold Bull website to read over the March 8th.
Less than half of mine were green but my best were: i-80, Golden Lake, Eloro, Theralase, Santacruz, Firefox, Snowline. The worst were: Emerita, Nine Mile, Surge Battery, Fathom Nickel, Magna.
Agreed DT. Always nice to see some green on the screen.
The concerns over a banking contagion from S.V.B.’s collapse was the catalyst, sending rates and the dollar down, and everything else up, but this is precisely the kind of macro environment and things breaking due to fiscal mismanagement that people have been warning about, and why people should have exposures to the PM sector in the first place.
The question remains — How many other banks have toxic bond losses on their balance sheets or was the mess at Silicon Valley Bank just an anomaly?
Gold candle Patrick Karim
https://www.tradingview.com/chart/XAUUSD/9IDhFEBu-Gold-s-2022-false-break-down/
Futures at the moment say Gold was only good today and not tomorrow. However, the dollar was bad, bad, bad today but going to be better tomorrow. Imaginary CPI coming up so let’s see how they work all this out during a period of run on banks. What do I know.
The Federal Reserve is supposedly a private institution, if they backstop the banks and cover all banking assets when they get in trouble that means they are the government. They have been bailing out Washington for years. DT
Simon Black has a great article on the Fed Reserve
OOTB Jerry
7 hours ago
2) If SVB is insolvent, so is everyone else… including the Fed.
This is where the real fun starts. Because if SVB failed due to losses in its portfolio of government bonds, then pretty much every other institution is at risk too.
article at zerohedge
OOTB Jerry
7 hours ago
Anyone who has purchased long-term government bonds– banks, brokerages, large corporations, state and local governments, foreign institutions– are all sitting on enormous losses right now.
*US government bonds are supposed to be the safest, most ‘risk free’ asset in the world. But that’s totally untrue, because even government bonds can lose value^. And that’s exactly what happened.
Most of SVB’s portfolio was in long-term government bonds, like 10-year Treasury notes. And these have been extremely volatile.
1) US government bonds are the new “toxic security”
Silicon Valley Bank was no Lehman Brothers. Whereas Lehman bet almost ALL of its balance sheet on those risky mortgage bonds, SVB actually had a surprisingly conservative balance sheet.
According to the bank’s annual financial statements from December 31 of last year, SVB had $173 billion in customer deposits, yet “only” $74 billion in loans.$$$$$$$$$
Banks holding fixed rate instruments and individuals holding them are 2 different things. When banks hold them and for whatever reason, a run begins, a bank must become liquid. If the interest rates are below market (like when The Fed raises interest rates to fight inflation), the lower rate interest instruments are not popular and can not be liquidated.
Not ALL holders of low interest rate instruments need to liquidate. Not all holders of low interest rate instruments will be “shorted” by hedge funds seeking an opportunity.
The entire system is not at risk although it is currently not known the extent of the risk until it plays out.
“Slowly, Then All At Once.”
Brien Lundin – Golden Opportunities – March 13, 2023
“The collapse of Silicon Valley Bank and the bailout (yes, it’s a bailout) of all depositors over the weekend sends gold and silver soaring. It’s the first phase of the scenario we’ve been talking about — one that will send the metals to new record highs.”
“It’s important to understand that there is nothing new under the sun. What we’re seeing now with the collapse of Silicon Valley Bank over the weekend may have certain unique twists, but the tale it tells is ages old and rests on many invariable aspects of human nature.”
“So we can turn to pithy observations of past pundits to illustrate not only certain characteristics of the current crisis du jour, but also guide where we might be heading.”
“History doesn’t repeat itself, but it does rhyme.”
— Mark Twain
“Whatever they name this latest crisis, it isn’t the real estate-spawned Great Financial Crisis of 2008, nor is it the Covid-caused crisis of 2020. It has some elements of the Tech Wreck circa 2000, but many differences as well.”
“This chart shows a four-decade and counting trend of the Federal Reserve ‘rescuing’ the markets with ever-easier money after any recession or mere hiccup…and thereby providing the tinder for the next conflagration…which in turn forces them to lower rates again…”
“As you can see, investor expectations for the fed funds rate and number of rate hikes over the next year have absolutely plummeted over just a little more than four trading sessions. Welcome to the new reality.”
https://mediacdn.espssl.com/6092/2023/031323_Plummeting%20rate%20expectations.jpg
As an interesting observation, noted repeatedly on this forum, ole’ Joe really is one of the best contrarian indicators one could hope for. He decided to come back on the KER blog on March 7th to warn of more doom to come for PMs (after conveniently going silent and M.I.A. for the 4 months that PMs rallied in October, November, December, and January).
It just so happens that on that exact date of March 7th, Gold got down and made it’s short-term low at $1812, right when Joe decided it was time to declare interest rates were going up and the PMs were going down and to sell to go to cash. Since then, only one week later Gold has tacked on over $100 to $1917, Silver has shot from near $20 up to $21.86 going up almost 10% in a week, and interest rates have continued to pull back down lower (not surge higher).
So once again, he bottomed-ticked the PM sector perfectly with his poorly time bearishness, just like he did on Sept 24th claiming “the PMs would be ground to a fine dust in Q4 of 2022” and to “sell everything and go to cash,” right before the mining stocks bottomed the Monday after that weekend on Sept 26th, and then the whole PM sector rallied up double-digits for the next 4 months solid.
>> We couldn’t ask for a better contrarian indicator, and we thank him for his service… 😉
Is it asking for too much to have Joe show up when he’s extremely bullish so we know when to sell as well????😎
And Lake. You might want to get your screen checked. Magna was green on mine…..or was the difference between US and Canadian markets????
Ex:
Thanks for the Magna warning. I am not sure if it us Schwab or what. At close, Magna was down -1.46%, but in the morning it was up about that amount if I do hand calculations. The overall account is up from close over $1000, but still down for the day. I have quit monitoring their discrepancies as they are either ahead or behind the OTC and I trade everything with multiple price quotes in front of me until I find one that works. In general EOD is higher in the morning but not enough normally to make red …green. Emerita was also higher in the AM which seems to have a similar pattern to Magna. I was fortunate to beat them to my Magna profits as it went from +175% to now -22.95%. This was very similar to the walk back of Emerita so I ignored that Magna had nothing but good news and went for the profits. I have stayed in the range of shares and still range bound.
So I have no idea why everyday is the same … for me.
Open: some up … some down. Those leading the down are: “Emerita”, I-80, Santacruz, Eskay and “Magna”. (Those are dollar values). You will probably note that Santacruz was up about 13% yesterday and opened @ -17%. There is the pattern.
Wolf:
Sorry about directing my answer to EX. I was on my phone and thought it was part of his response. Maybe I can’t read is my problem. 🙂
Began transfer of account today. Saw where Schwab owner took $3 bil hit on the California bank. Tried to revive International Brokers but was a Catch 22 glitch with no way to communicate. Going to try Fidelity. Don’t like them either as they were tied to the Plunge Protection Team during Obama years, but I will be happier if technical issues resolved comparatively.
B2 Gold 5% ownership of Snowline Gold. FT @ $4.86 is 100% premium over current share price $2.44
Pursuant to the initial non-brokered private placement, up to 3,941,048 flow-through common shares of the Company (the “FT Shares”) will be issued at a price of C$4.862 per FT Share for aggregate gross proceeds to the Company of up to C$19,161,375 (the “Offering”).
https://ceo.ca/@accesswire/snowline-gold-announces-strategic-investment-by-b2gold
SNWGF up +20% on 4x average shares. Huge end-of-day buying. Looks like B2 is another mining company (e.g., Lundin) moving into the safe jurisdiction of Yukon, Canada (Most of their mines are in Bali, Philippines, Namibia)
All of my stocks were up today, green is good for the investor. DT