Hour 2 – KER Politics
Here is hour of KER Politics. Most of these segments were aired earlier this week on the site but segment 7 where Al interviews NuLegacy Gold was not. We hope you all enjoy.
Segment 5 & 6: Dr Gleb Tsipursky of Ohio State University discusses what is and what is not fake news and how to keep an open mind.
Segment 7: Big Al discusses a mining company in which he just purchased shares.
Segment 8: Dr. Carmen Elena Dorobat opines on the ineffectiveness of economists setting governmental policy.
Chris Temple interviews Rudi Fronk, Chairman and CEO of Seabridge Gold (NYSE-SA; TSX-SEA)
Chris catches up with Seabridge’s Fronk again today. The economics continue to get better at Seabridge’s flagship KSM Project, which in 2017 saw nearly 15 million ounces of gold and 7 billion pounds of copper added to overall resources. Some of the recent private placement which raised C$17 million–at a 27% PREMIUM to the market price–will go to more drilling at Iron Cap and likely an upgraded resource estimate and economic assessment later in the year.
Elsewhere, exploration is being jump-started at Courageous Lake. . .and geophysical and other work are slated for this year for the Snowstorm Project in Nevada (Below is a map of the area showing Snowstorm at the intersection of three different trends in northern Nevada.)
NOTE: For the prior discussion late last year with Chris, Rudi and Cory referred to, go to Segment 2 at http://www.kereport.com/2017/11/11/gold-technical-fundamental-outlooks-key-company-update/
Don’t Rule Out A Run In The USD
With markets down across the board the only decent green I am seeing on my screen is the USD. Chris Temple and I briefly discussed the dollar yesterday but spend more time focusing on it today. We look at the technical levels to watch as well as how the central bank actions around the world might finally impact the currency.
What Happens in Treasuries Doesn’t Stay in Treasuries
I read this article last night (originally posted in the Opinion section at Bloomberg) and thought it is worth sharing since we have been discussing the flattening yield curve a lot recently. With all the talk about the Fed stepping continuing to unwind its balance sheet combined with the Treasury Department being forced to issue nearly $1 trillion in debt to help fund the tax cuts, there are the finer details that we have not discussed. Many good points are discussed so have a read to better understand how the treasury market is impacting markets around the world.
Click here to visit the original posting page.
President Donald Trump’s $1.5 trillion of tax cuts have to be funded somehow. Step forward ever more U.S. Treasury bills and notes. As the bulk of the new supply is coming at five-year maturities or less, that’s having a pronounced effect on the U.S. yield curve. And markets on the other side of the world are starting to feel it.
The U.S. Treasury two-year note yield has more than doubled in the last year to 2.4 percent. Over the same period the 10-year note has risen at only half the pace — it now yields only 43 basis points more than the two-year, the narrowest gap since 2007.
Over the last year two-year yields have risen at twice the pace of 10-year pushing the curve flatter
This flattening pressure is unlikely to abate as supply comes down the pipe — and redemptions won’t be around to match. This month isn’t so bad. The record $900 billion of U.S. Treasury issuance will only amount to $7 billion of net new sales. The net balance jumps to $58 billion in May.
Gross and Net U.S. Treasury Supply
Although there are humps in redemptions overall U.S. Treasury issuance is increasing
Source: U.S. Treasury Borrowing Advisory Committee, Bianco Research
And it will probably get worse from there. Though the Treasury Borrowing Advisory Committee only gives a few months’ forward notice on its requirements, it would be a miracle if its next update, on May 2, showed issuance dropping.
The Federal Reserve is only making matters worse. Over the next two years it will reduce its balance sheet by over $1 trillion. Combined with quarterly 25 basis point rate hikes, the pressure on the short end shows no signs of abating.
This is starting to show up in global markets. A few countries are providing early warning about what much of the rest of the world might soon expect.
Unusually, the minutes published April 3 of the Reserve Bank of Australia’s policy decision said higher U.S. money market costs had driven short-term domestic borrowing costs higher.
Rising U.S. dollar funding costs are making themselves felt as far away as Australia
It also pointed out this had been happening in other regional markets, without naming them, though the likely culprits are Hong Kong and Singapore.
Higher U.S. rates are starting to feed through across the major …read more
The Big Picture For Silver
After silver’s pop mid week a lot of people were very excited. However the metal had not broken even a short term top. Doc joins me to look at the big picture for silver and the monthly chart. This is the most important chart to understand what is happening in this market.
The CRB and What It Means For The Overall Commodity Complex
The CRB index has recently broken above the 200 level. Lead by energy/oil since it is a major component of the CRB there are also some other commodities that are also breaking out. Nickel and aluminum are a couple of those commodities moving up but mostly on the back on political news regarding sanctions and tariffs. Craig Hemke joins me to discuss all the points noted above.
Continuing our discussion from yesterday with Dr. Gleb Tsipursky
Download audio file (Genesis-Segment-6-April-21-We-continue-our-discussion-about-fake-new-and-keeping-an-open-mind.mp3)
It’s All About Silver This Week
With the pop in silver yesterday lots of people are pointing to the silver price and saying I told you price would rise. Based on the recent CoT reports there is was reason to expect silver to bounce but it still has yet to break any of the recent lower highs. Brien Lundin joins me to discuss the recent pop and what other factors he sees driving price down the road.
Anaconda Mining – Some Nice Drill Results Out Of Goldboro
Below are the recent drill results from Anaconda Mining out of the Goldboro Project. The headline number are very good at 11.27g/t gold over 13.5 meters. Please read below for the full results.
I will be having Dustin back on the show to review these results. Please comment or email me at Fleck@kereport.com with your questions.
Click here to listen to the most recent interview with Dustin and I.
…Here’s the news…
Anaconda Mining Intersects Multiple Wide, High-grade Zones at Goldboro Including 11.27g/t Gold Over 13.5 Metres and 9.93 G/t Gold Over 7.5 Metres
TORONTO, April 19, 2018 /CNW/ – Anaconda Mining Inc. (“Anaconda” or the “Company“) (TSX: ANX) is pleased to announce assay results from five drill holes (1,621 metres) of a 30-drill hole (7,200 metres) diamond drill program that began in October 2017 (the “Drill Program“) at the Company’s Goldboro Project in Nova Scotia (“Goldboro“). The five drill holes (BR-17-11 and BR-18-20 to -23) targeted cross section 9100E near the center of the Goldboro Deposit, within both the East Goldbrook (“EG Gold System“) and Boston–Richardson (“BR Gold System“) Gold Systems (Exhibit A and B). Within the BR Gold System, the Drill Program successfully intersected multiple wide, high-grade zones in areas not previously drilled, extended mineralization down-dip along known limbs and extended the depth of the BR Gold System by approximately 100 metres more than was previously known in this section. Close to surface, the Drill Program was also successful in extending eight mineralized zones in the EG Gold System westward by 50 metres.
Highlights of recent assays from the Drill Program include:
Anaconda Mining Inc–Anaconda Mining Intersects Multiple Wide- H
Anaconda Mining Inc–Anaconda Mining Intersects Multiple Wide- H
11.27 grams per tonne (“g/t”) gold over 13.5 metres (201.0 to 214.5 metres) in hole BR-18-22, including 15.63 g/t gold over 1.4 metres and 44.33 g/t gold over 2.5 metres;
4.13 g/t gold over 20.5 metres (324.5 to 345.0 metres) in hole BR-18-23, including 9.93 g/t gold over 7.5 metres and 79.34 g/t gold over 0.5 metres;
10.55 g/t gold over 6.1 metres (223.0 to 229.1 metres) in hole BR-18-22, including 18.78 g/t gold over 3.1 metres;
5.10 g/t gold over 9.6 metres (116.0 to 125.6 metres) in hole BR-18-22, including 25.82 g/t gold over 1.5 metres;
7.22 g/t gold over 6.5 metres (310.5 to 317.0 metres) in hole BR-18-23, including 16.00 g/t gold over 2.0 metres; and
9.29 g/t gold over 2.1 metres (420.6 to 422.7 metres) in hole BR-18-21.
A full table of composited assays is presented below.
“We continue to prove that mineralization extends in all directions in both the EG and BR Gold Systems. We are encountering typical grade and thickness in most of the newly discovered mineralized areas and then we’re uncovering sweet spots that contain broader, higher grade intersections that are among the best results reported from Goldboro to date. The presence of a fault in the areas around holes BR-18-21 to -23 is an important feature that may control the localization of high gold grades and we plan to further test this potential for thicker high-grade intersections within …read more
The 10 Year Above 2.9% and The USD Moving Higher
The main focus on the moves in the markets today is the 10 year yield. Popping above 2.9% there was some better economic data out of the US that is contributing to the rise in yields. Chris Temple joins me to discuss the moves in yields today as well as the pop in the US dollar as we were recording.
Chris interviews Curtis Moore, V.P. of Energy Fuels, Inc. (NYSE Mkt-UUUU; TSX-EFR)
As some of you know, the Fleck family will imminently be celebrating the birth of their first child! So I’m helping out Cory with content, and a few “macro” interviews, via sharing some interviews of mine over the next few days with management of some of my Featured Opportunity companies.
In this one, I visit with Energy Fuels’ V.P. for Corporate Development Curtis Moore; a friend and one of my key go-to guys in the sector. We discuss Russia’s recent floating of the idea that it could stop “cooperation” with the U.S. in the nuclear energy area; and this in the context of Energy Fuels’ and Ur-Energy’s 232 Petition filed with the U.S. Department of Commerce back in January. Further, we touch on a couple of UUUU’s own highlights, and my view that it has better optionality in a coming sector rebound than any other company.