Many Charts Showing The Metals At Key Inflection Points
Chris Kimble, Founder of Kimble Charting Solutions joins me to outline a number of ratios (charts below) that are at key inflection points. There is no guarantee that these trends change at the current time but the bounces we have seen in PMs and the stocks are encouraging.
Download audio file (2018-10-12-Chris-Kimble.mp3)
Click here to visit Chris’s site – Kimble Charting Solutions.
The Factors That Are Driving The Metals Higher – It’s Not Just the US Markets
Craig Hemke, Founder of TFMetalsReport.com joins me to outline some of the factors that are moving precious metals higher over the past couple days. While the falling US markets are one factor there are some other noteworthy reasons investors are touting for this pop.
Anaconda Mining Just Reported Record Quarterly Gold Production
Anaconda Mining just reported some more strong quarterly gold production numbers. In Q3 the Company produced 5,099 ounces of gold and recorded $6.9million in revenue. The production numbers continue to be strong for Anaconda which helps to fund the ongoing exploration at the Point Rousse Project as well as Goldboro.
I will be chatting with Dustin Angelo, Anaconda President and CEO regarding this news so if you have any further questions please email me at Fleck@kereport.com.
…Here’s the news…
TORONTO, Oct. 11, 2018 /CNW/ – Anaconda Mining Inc. (“Anaconda” or the “Company”) (TSX: ANX) (OTCQX: ANXGF) is pleased to announce production results and certain financial information from the three and nine months ended September 30, 2018 (“Q3 2018”). All dollar amounts are in Canadian Dollars. The Company expects to file its third quarter financial statements and management discussion and analysis by November 8, 2018.
In 2017, the Company changed its fiscal year-end to December 31, from its previous fiscal year end of May 31. For comparative purposes, the results for the three and nine months ended September 30, 2018, have been compared to the three and nine months ended August 31, 2017.
Q3 2018 Highlights
Anaconda produced a quarterly record of 5,099 ounces of gold during Q3 2018, an 11% increase over the three months ended August 31, 2017, and has produced 14,024 ounces year-to-date in 2018.
Anaconda sold 4,314 ounces of gold in Q3 2018, generating metal revenue of $6.9 million at an average realized gold price1 of $1,603 per ounce. As at September 30, 2018, the Company also had over 945 ounces in gold doré and bullion inventory, which was subsequently sold in early October.
The Pine Cove Mill processed 120,374 tonnes during Q3 2018, just below the quarterly record of 121,299 tonnes achieved in the previous quarter of 2018. Throughput rates continue to be strong, achieving 1,332 tonnes per day (“tpd”) during the three months ended September 30, 2018.
Mill feed during the quarter was comprised of 66,655 tonnes of ore mined from Stog’er Tight, supplemented by 53,719 tonnes of ore stockpiled from the Pine Cove Pit.
Mining activity was focused at the Stog’er Tight West Pit in Q3 2018; ore produced from Stog’er Tight during the third quarter was 51,620 tonnes.
The Company commenced the 10,000-tonne, underground bulk sample at its 100%-owned Goldboro Gold Project (“Goldboro”) in Nova Scotia in August, with mining activity expected to begin in late October following the completion of decline dewatering and rehabilitation.
As at September 30, 2018, the Company had a cash balance of $7.6 million, preliminary working capital1 of $7.2 million, and additional available liquidity of $1,000,000 from an undrawn revolving line of credit facility.
1 Refer to Non-IFRS Measures Section below.
Anaconda is also pleased to welcome to its senior management team Rahim Kassim-Lakha in the role of Vice President, Corporate Development, where he will help drive the Company’s capital markets strategy. Mr. Lakha brings a wealth of knowledge from over 25 years of capital markets experience, having held senior-level positions at bank and non-bank brokerage firms.
“Anaconda continues to demonstrate operational excellence at its Point Rousse Project, achieving record …read more
Precious Metals and PM Stocks Continuing To Rise On Market Worries
Chris Temple and I spend some time today discussing the move high in gold and the gold stock ETFs. These moves are coming on the back of the weakness in markets around the world and the assumption that the Fed is all of a sudden going to switch course. While the fears about markets outside of the US are warranted we do not see the Fed turning more dovish anytime soon.
Bitcoin Has Been Historically Boring
Ryan Wilday, Cryptocurrency Trader at Elliot Wave Trader.net shares some insights on the lack of volatility in the Bitcoin and cryptocurrency space. We also look at some smaller coins that are outperforming the overall sector.
The Market Conditions Have Changed
Mike Larson, Editor of The Safe money Report follows up on what we have been talking about over the past couple months. That is a shift to a more defensive investing strategy. With markets getting hit the areas of consumer staples and utilities are holding up well.
Recapping The Worst Day For US Markets In 8 Months
With US markets down across the board there is a lot for Chris Temple and I to chat about. We look at why this was expected but also why it is not yet a time to panic.
Download audio file (Make-our-Country-a-Better-Place.mp3)
The Kavanaugh fight shows we have not yet plumbed depths of Democratic ruthlessness
BY MARC A. THIESSEN Washington Post
President Trump apologized to Justice Brett Kavanaugh and his family for the “terrible pain and suffering” they endured during his confirmation process, declaring that “what happened to the Kavanaugh family violates every notion of fairness, decency and due process.” Democrats seem to be taking the opposite lesson from the Kavanaugh fight. As Politico recently tweeted, “After failing to stop Kavanaugh’s confirmation, Democrats wonder if it’s time to be more ruthless.”
More ruthless? There are a lot of reasons the effort to stop Kavanaugh failed, but a lack of ruthlessness is not one of them. Kavanaugh’s opponents just tried to destroy a man without a shred of corroborating evidence. No tactic, no unfounded accusation, was too extreme. Democrats demanded that the FBI investigate not just Christine Blasey Ford’s uncorroborated accusations, but also the charge in the New Yorker’s hit piece that Kavanaugh had exposed himself to a college classmate, Deborah Ramirez, as well as the scurrilous accusation by Michael Avenatti client Julie Swetnick that Kavanaugh participated in gang rapes at high school parties. How can you get any more ruthless than unfounded accusations of gang rape?
Democrats did not lose the Kavanaugh fight because they were not ruthless enough. They lost because, as always, the left overreached. Their increasingly brazen and unsupported charges against Kavanaugh backfired, strengthening the GOP’s case that Kavanaugh was the victim of a political hit job, and actually helping to secure his confirmation.
They also lost because of their disastrous decision last year to filibuster the nomination of Neil Gorsuch, a justice of impeccable qualification and temperament. If Democrats had kept their powder dry then, they would still have had the filibuster in place when Kavanaugh was nominated. As it stands, Republicans were barely able to confirm Kavanaugh; they likely would never have been able muster the votes to invoke the nuclear option to get him onto the court.
In the case of Gorsuch, at least there was no attempt at character assassination. That was because he was a conservative justice replacing a conservative justice, the late Antonin Scalia. His confirmation simply restored the status quo ante. Kavanaugh, by contrast, was replacing Justice Anthony M. Kennedy, the court’s key swing vote. His confirmation could swing the court’s ideological balance for a generation, so he had to be destroyed. If they did this to Kennedy’s replacement, think of what Democrats will do if, at some point in his presidency, Trump ends up nominating someone to replace a liberal Supreme Court justice. It’s hard to imagine anything worse than charges of gang rape, but I doubt we have yet plumbed the depths of the ruthlessness of which Democrats are capable.
Democrats have no one but themselves to blame for Kavanaugh’s confirmation. Their strategic miscalculations, and embrace of what they once decried as the “politics of personal destruction,” backfired. And the reverberations may not yet be over. …read more
Weakness In The Markets Being Lead By Large Caps and Tech
Raghee Horner, Futures and Currency Expert at Simpler Trading joins me to address the selloff in US markets. Being lead by tech and the large caps it is the problem we were pointing out weeks ago in terms of breadth. We also discuss the gold market, which Raghee and I have not discussed for a while, because she is thinking the downside is very limited at this point.
More High Grade Results from Skeena Resources at Eskay Creek
The headline number of 10.97 g/t AUEq over 42.65 meters is one of a three very nice drill holes released today from the Eskay Creek Project. These three holes are all in the 21A zone and are infill and the core is needed for upcoming metallurgical work. The Company released a resource last month for Eskay Creek (click here to read over that news) that showed almost 2 million ounces of high grade gold equivalent.
If you have any questions for the team at Skeena please email me at Fleck@kereport.com. I will be chatting with the President and CEO Walter Coles early next week.
…Here’s the news…
Skeena Intersects 10.97 g/t AuEq Over 42.65 metres at Eskay Creek
Vancouver, BC (October 10, 2018) Skeena Resources Limited (TSX.V: SKE, OTCQX: SKREF) (“Skeena” or the “Company”) is pleased to announce additional Au-Ag drill results for three drill holes from the ongoing Phase I surface drilling program at the Eskay Creek Project (“Eskay Creek”) located in the Golden Triangle of British Columbia. The multifaceted Phase I program is being performed in the historically drill defined 21A, 21C and 22 Zones. A cross section and tabled data are presented at the end of this release and on the Company’s website.
Eskay Creek Phase I Drilling Highlights
9.49 g/t Au, 111 g/t Ag, 10.97 g/t AuEq over 42.65 m (SK-18-009)
Including: 17.35 g/t Au, 147 g/t Ag, 19.31 g/t AuEq over 19.65 m
5.93 g/t Au, 166 g/t Ag, 8.14 g/t AuEq over 36.25 m (SK-18-010)
Including: 5.66 g/t Au, 296 g/t Ag, 9.61 g/t AuEq over 14.00 m
7.95 g/t Au, 140 g/t Ag, 9.82 g/t AuEq over 33.60 m (SK-18-011)
Gold Equivalent (AuEq) was calculated with the formula: Au (g/t) + [Ag (g/t) / 75]. Reported core lengths represent 80-100% of true widths and are supported by well-defined mineralization geometries derived from historical drilling. Length weighted AuEq composites were constrained by geological considerations as well as a calculated 1.0 g/t AuEq assay grade cutoff assuming reasonable prospects for economic extraction via open pit mining methods. Grade capping of individual assays has not been applied to the Au and Ag assays informing the length weighted AuEq composites. Processing recoveries have not been applied to the AuEq calculation and are disclosed at 100% due to a lack of supporting information. Samples below detection limit were nulled to a value of zero.
Phase I Drilling Discussion
The Phase I drilling program on the 21A, 21C and 22 Zones is designed to infill and improve definition in areas with low drill density to a drill spacing sufficient to allow for future economic analyses, and to collect fresh material for an upcoming metallurgical characterization and testing program. As no historical drill core remains for any zones at Eskay Creek, new material must be collected for this purpose. Overall, the metallurgical drilling program is designed to gather unbiased, representative material that is spatially distributed throughout the various zones that will ultimately be used to optimize future economic analyses.
The 21A Zone represents a significant portion of …read more
Higher Yields and A Shift In The Markets… Where’s The Balance?
Eddie Ghabour, Co-Owner of Key Advisors Group LLC joins me today to share his thoughts on rising yield environment and how this could impact the US markets. Eddie has a target of 3.25% int he 10 year as the peak this year but sees the upward trend in yields continuing next year. As for the markets he is playing a more value focused strategy.
The Opportunities In Copper
Sean Brodrick, Natural Resource Analyst at Weiss Ratings joins me today to share his thoughts on the copper market. We look at how China is continuing to play a large roll on the demand side. Also the fact that there are not many companies left in the copper space mean you need to be even more selective when investing.