Here’s a company that has a large copper/gold property in the Yukon
Western Copper and Gold (TSX:WRN & NYSE:WRN) caught my eye at the New Orleans Investment Conference. We did not have time to record a segment while down there but we stayed in touch and found time today to introduce the Company to all of you. The President and CEO Paul West-Selles takes time to share the high level details of Western Copper and Gold. With a large Copper-Gold project – the Casino Deposit in the Yukon and permitting underway this is an interesting Company if you want to have exposure to copper and gold.
Click download link to listen on this device: Download Show
Click here to visit the Western Copper and Gold website.
In other news…
Globex Options Montalembert High Grade Gold Property
http://globexmining.com/staging/admin/news_pdfs/11-17-16%20Montalembert_Option%20Natan.pdf
Globex is up 12.5% this morning.
It was up 20% earlier though.
Fwiw, I did not sell a single share on today’s quick move.
Thanks for the Globex update. I’ve been reviewing the list of prospect generators this week since they are a bit more stable than some of the more speculative miners due to their diversification. Globex is looking good as part of that sub-sector.
GMX has a fantastic risk-reward profile, in my opinion.
Jack Stoch, CEO of Globex Mining Enterprises Inc., talks Acquiring Geological Assets for Resell
Jasyn Blair – August 2, 2016
Thanks, I missed that.
Investors seem to be impressed with the news over at CEO as well:
@LucTenHave – “$GMX is really working on long term shareholder value. They will get a lot of option payments in the coming years. Their royalty portfolio may not be close to production yet, their option payments look interesting. And their zinc royalty will be in production again next year – especially interesting because of the zinc price at the moment” – 2 hours ago
anonymous – “This deal is worth more than their current market cap! A no brainier.” – 2 hours ago
@Highheat – “@LucTenHave Wish I had some cash $GMX Globex looks cheap and self funding even after the bump this morning.” – 2 hours ago
Thanks again, I agree with those comments. GMX shareholders also get a piece of any exploration successes through the shares they pick up in such option deals.
Update: I did end up selling a very small amount (less than 1% of my position) when it made a new session high at the end of the day. I had to, on principle, if nothing else. 😐
Klondex Mines drills 3.5 m of 37.7 g/t Au at True North
2016-11-17 06:35 ET – News Release
Mr. John Seaberg reports
KLONDEX ANNOUNCES UPDATED DRILL RESULTS AT TRUE NORTH; DRILLING SUPPORTS EXPANSION OF 710/711 AND COHIBA ZONES
I liked and bought some WRN months back. At the time I was concerned with a 100km road that needed to be built. But the deposit was so good I figured someone would make it work. Glad to hear of infrastructure improvements.
2016-11-17 07:17 ET – In the News
See In the News (C-KLG) Kirkland Lake Gold Inc
The Globe and Mail reports in its Thursday, Nov. 17, edition that some Kirkland Lake Gold shareholders want the miner to open talks with Gold Fields and Silver Standard Resources, arguing that Kirkland was too hasty in rejecting their joint takeover offers. A Reuters dispatch to The Globe reports that Kirkland Lake on Friday confirmed that the two firms had made three joint bids for the miner and recently sweetened their offer to about $1.4-billion. The bidders’ names and deal value were not previously disclosed. Shareholders want the company to disclose more details of the offer so they can weigh it against Kirkland’s planned acquisition of Newmarket Gold. Results of a shareholder vote on the Kirkland Lake-Newmarket deal are due Nov. 25. Kirkland Lake shareholder John Tumazos wrote in a Nov. 14 letter to the miner’s board, “Your shareholders deserve the opportunity to vote on the best offer for the company, and the board has a fiduciary duty to find it.” Mr. Tumazos has voted his 215,950 Kirkland Lake shares against the Newmarket deal, he said in the letter. Kirkland Lake boss Tony Makuch said the only firm offer on the table was Kirkland’s planned takeover of Newmarket.
I figured those counter offers from Gold Fields and Silver Standard would create quite a stir with shareholders and that it may throw a wrench into the gears of the Kirkland Lake / Newmarket Gold merger.
This one is going to be interesting to watch unfold….
Thanks, CFS.
I actually flagged DRYS as potentially beginning a new move the day before it began its moon shot. About +2000% in four days, and then -85% in one day!
Porphyry Copper – Gold Mineralization Intersected at Del Norte Property in the Golden Triangle
November 8, 2016, Vancouver, BC: Teuton Resources Corp. $TUO $TEUTF
“After the three holes were completed, Simcoe Geophysics ran a magnetotelluric survey over and beyond this target area. Preliminary profiles have been received which show much higher zones of conductivity adjacent to the area drilled. Simcoe’s geophysicist plans to incorporate all relevant geological data, including the remaining holes drilled in 2016 (as well as nearby holes drilled in 1992 and 2014), before completing a final report. The report should be ready early in 2017.”
D. Cremonese, P.Eng, President of Teuton, commented as follows: “There has been speculation for over thirty years that a porphyry copper system underlies the Del Norte property. Based on previous work, including soil and silt geochemistry, mapping of alteration patterns and diamond drilling, the area within which such a system could be found is at least five square kilometres in size. The 2016 drill results in themselves are encouraging, but more work will be necessary to define the location of the potential higher grade core of such a porphyry system. Typically, copper grades improve as one goes from the outer shell into the more mineralized center and it is likely that the current drill holes are still in the outer, pyritic shell. Final analysis of the magnetotelluric survey results should help to define zones where mineralizing intensity is greatest, showing us where to drill in 2017.”
“Assays for the three other target areas selected for drilling in 2016 in the Del Norte property are still awaited.”
*** [does anybody know when these other assays are due out from Teuton?] ***
http://teuton.com/blog/2016/11/08/porphyry-copper-gold-mineralization-del-norte/
I hear CS is going to DELIST UWTI and DWTI! They might go OTC. Just a heads up. I have never been through an ETN delisting. Can anyone shed some light on this? I trade this on two different accounts and currently am bag holding on my cash account. Thanks!
IDM Mining: Attractive PEA for Red Mountain Gold Deposit – Production Decision Pending
Published on Nov 17, 2016
IDM Mining: Attractive PEA for Red Mountain Gold Deposit – Production Decision Pending. Interview with President & CEO Robert McLeod
Gold putting in a bottom here! Look for a reversal soon or tomorro in miners as well.
I pray you are correct. We are on a knifes edge, no doubt.
Looks like Silver just took a Bruce Lee chop to the jewels. ALL HAIL DSLV!
What a turn the miners have made. Gold and GDX are riding on their 100 WMAs. Balls of steel needed to hold here.
Big trend changes are always followed by big and convincing shakeouts:
http://stockcharts.com/h-sc/ui?s=GDX&p=W&yr=6&mn=0&dy=0&id=p95500838401&a=487177468
Although we may fall further down to whatever number experts want to give 1180 etc, you are bang on Matthew in you assertion.
Spanky I’m not sure if that was the bottom but my call was bang on in the timing of it and if it indeed goes up from here it’s nothing more then oversold conditions and sentiment of which Matthew and myself spoke of yesterday. I have no doubt miners will breakout further. You go check every site and it has nothing but bears screaming for bear trend.
Let’s see what happens and wait till at least next eeek.
Yes, I have noted the analogy to the top and back test of the 100 WMA at the start of the bear market. At the top, the 100WMA held solid, although intraweek the miners may have dipped just above that MA.
A breakdown here for gold would set up a likely retest of the December low — or fairly close.
GLD
http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=1&mn=0&dy=0&id=p17530885759&a=488007559
Do you any hunch at this point which scenario plays out? It looks pretty dire to me, atm.
Because the daily chart is already oversold, I think short term downside is limited to the 1190 area. And I would like to see such a move precisely because it would cause so much fear.
The following bounce would give us a clue about whether or not a retest is still coming.
http://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=1&mn=2&dy=0&id=p12997229118&a=443006542
Balls of steel are still an asset though.
brother matt I couldn’t have said it better myself jaja
Over at Gary’s site I can’t believe how much criticism he takes from posters who are absolutely clueless. If you want a good dose of bipolar trading or impulsive decision making from one second to another, then go take a look. Folks the only way to make money is either buy low and sell high or add when price is attractive. Miners are screaming attractive imo. We will see 12 months out of this was indeed a beautiful gift. I tend to believe it is.
Me too Glenfidish. Absolutely everything to play for from hereon out.
Sounds like Gary has an abundance of pollywogs in his little marsh. 😉
Matthew….The bird had to land somewhere….
$1201 is surely toast. The commercials can taste it.
It’s such an obvious level for sell stops that you are probably right.
Nice chart matt! It screams higher.
If anyone here believes trump will be fisically responsible and do the correct thing we’ll them you are going to get it handed to you. We will print more money under his term then we can all imagine. We are talking about a typhoon in realstate and property. He will do whatever it takes to make sure those assets remain high and rates don’t affect them.
Unless and that’s a big unless a black swan event or some market powers cause rates to go much higher then we are headed for higher everything. This includes food prices, gold, oil, equities, home prices etc etc. There will be market corrections like always and Dow may get a big one soon but it will be continuously higher I believe unless again unless rates or a black swan cause the markets to crash. So next 4 years will be painful to the average citizen because cost will soar.
I know some of you have spoken about chinease not buying treasuries and the bond bubble would cause rates to go up on its own without intervention etc. I’m. It sure if this will happen soon but if you are one that believes that raise your hand and tell me why and a realistic time frame.
Matt
Your $1190 sounds good to me which coincides as a typical undercut low that Gary likes to mention, you know the sweet spot were most sell to the bankers..
A possible outcome over the next 12 months could be 2 or 3 rate rises along with plenty of chin wagging propping up the us dollar along with certain sectors of the stock market. Thus allowing the status quo to remain so the head honchos can continue to line their pockets in anticipation of a bubble pop in any one of several sectors. Obviously in light of such a scenario playing out, metals would likely erase all gains and possibly reach new lows within this bear market. Gold to 3 figures???
If CFS info is correct, then the debt problem within the US is mind boggling on many different levels. I knew the student loan default situation was a problem, however i didnt envisage the figure being so huge. 8.1mill students in default territory adding to $4.1 trillion in student loan debt is unfathomable. Thats 8 times bigger than Australias overall debt burden. But that works out to be an average of over $500,000 debt per case. Am I missing something here???
This is the first time Ive heard a number that high. Usually I hear 1.3 trillion.
E.g. here: https://studentloanhero.com/student-loan-debt-statistics/
Yeh GH maybe he meant 1.4 trill instead of 4.1
The Fed has done another masterful job. Stock market about to break out vs commodities for new real highs.
Courtesy of the BoJ. We should have seen this coming. The BOJ will send the Yen to zero to pleasure the Fed.
A move to new highs will be a bull trap. The market is on borrowed time.
SPY:CRB weekly:
http://stockcharts.com/h-sc/ui?s=SPY%3A%24CRB&p=W&yr=19&mn=3&dy=0&id=p62356034714
I agree nothing goes up forever, but it’s been almost 9 years since the Fed backstopped the whole rotten system, and to me at least it seems like every dime is being forced into the stock market. gold seems utterly correlated to the yen, and the BoJ is clearly committed to drive the yen into oblivion.
Gold looks to me like it is headed back to the 200 month MA.
I am still long and above water. I got in early in the miners last year. I knew that I was going to go all in in the hopes of catching a real bull in the miners (no trading) and that I could end up losing all of the gains if I was wrong. Well, it’s easy to say, but I don’t feel any less like a total sucker.
The CBs are in total control. As long as they collude and coordinate policy (especially the BoJ), they can keep their boot heel on commodities, letting them rise a little bit every now and then to keep the big miners solvent. they have multiple printing presses and they are using them to perfection. It’s glorious.
James Flanagan at Gann Global offers some historical context:
I think it’s either a bull trap or we’re heading into hyperinflation. I lean toward bull trap for now.
Thanks GH. I always have time for James Flanagan and agree with you about the bull trap in stocks.
yellen and bernanke are true American heroes. Absolute master class.
It’s funny to hear the same guy(s) making the same arguements while their arguement is falling aprart at the same time.
Geez talk about not seeing the forest for the trees
Totally oblivious
Trump is the game changer
Gold is done
Next months rate hikes sinks it further
$is breaking out strong
Well. It certainly feels like the PM bull is over. There is always the possibility Gold will stabilize in the 1180-1200 zone, then resume the bull, I guess. I’m waiting to see.
I was able to double my money in 1 year, so I could walk away completely. Although, there may be a divergence of silver and gold miners soon, so I’ll keep small positions in those regardless.
It certainly does. Can’t see a double bottom. The 200 month MA around $900 will be the next target if gold breaks down below its 100 WMA.
The US stock market looks set to repeat a 1998-2000 style blow off.
I think you guys are seriously jumping the gun with your bearishness. Sentiment needed a reset and now we’ve got just that. The more certain a young trend looks, the harder the big money will work to get you to doubt it.
Gold has only retraced half of its last big run but it feels like more to most people because of the speed and volatility of the decline — not to mention their lack of profit-taking in the miners.
Gold is now oversold and should bounce soon, but will probably continue to try your patience for the rest of the year.
http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=1&mn=1&dy=0&id=p43198057490&a=488007559
Gold majors have just now achieved the average retrace that is typically seen after the first upleg of a new bull market. No reason yet to suspect the bull is over, especially given the fundamental backdrop.
James, what’s the duration of the typical horse race? This might be more the time horizon suited to you. Day trading, perhaps?
Exactly. The fundamental backdrop is everything.
Gary Savage makes a bull case for the gold market:
He also now admits the possibility that the general stock markets may now be heading into a bear.
He’s been predicting a new 7-year cycle and that we’re headed into a new bull phase that would end in a blow-off bubble top, and insulting anyone who disagrees with him for the past year.
Lame.
I’m a fan of Gary’s, and I defended him here on KER back when he got chased off. But he needs to man up, eat some humble pie, and moderate his obnoxious ‘everybody but me always gets it wrong’ rhetoric.
https://blog.smartmoneytrackerpremium.com/2016/11/chart-of-the-day-258.html
Silver is still up 17% versus gold since March.
http://stockcharts.com/h-sc/ui?s=%24SILVER%3A%24GOLD&p=D&yr=1&mn=1&dy=0&id=p88180156110&a=488129528
Im not so sure that sentiment needed a reset. I mean gold only recovered 300 odd dollars from its low around $1040. It is has now retraced nearly $130 since wednesday last week. In the grand scheme of things, its gains, whilst solid, have been sedate at best the last 6 months. Ditto for silver really.
Hes got plenty of knockers here and i do think he fluctuates his bias according to the mood but james the lessers figure of 1360-1370 has stood as solid resistance for nearly 3 years now. Apart from a brief spike in july this year and march 2014, this figure he mentions (i think 1363 to be exact) has performed its role as resistance perfectly. Gold and silver need fresh impetus for a sustained move back to this level and then consistent high volume on the buy side of pms for it to pierce this resistance. Where that comes from, im not sure at this stage
Ozi, this upleg in gold stocks this year was one of the 15-or-so most powerful up-legs in any commodity in the past 200+ years. I do think that requires a sentiment reset.
Besides, how are the big boys supposed to become quadrillionaires if they don’t stampede the herd from one extreme to the other?
-That $300 was a large percentage gain in a short time for a currency
-JTL never posted anything actionable or objective
Sentiment got as bullish/euphoric as it had ever been by a number of measures. The BPGDM, for example, hit 100 for the first time ever as the miners all became very overbought after delivering record gains. Gold itself also became overbought and scary pullbacks are completely normal for all bull markets — especially bulls that pertain to gold or commodities in general.
Surely this classifies as more than a scary pullback though. The mere fact that gold could not recover half of its losses from its all time high in the midst of perceived incredible bullishness sentiment shows that there are other factors driving the pms. I dont know, im just thinking allowed here, gold and silvers moves were impressive in the first half of the year but they seem to be acting as though they are under great capping pressure.
Mention in this forum first, I believe, by myself a while ago.
Not as good as Ivanhoe, but a much safer jurisdiction.