'Best-in-Class Copper Story' Inks Deal with Indonesia

Source: Streetwise Reports 07/16/2018

A CIBC report discussed the terms and implications of the agreement.

In a July 13, 2018, research note, CIBC analyst Oscar Cabrera reported that Freeport-McMoRan Inc. (FCX:NYSE) entered a nonbinding agreement with state-owned PT Indonesia Asahan Aluminium (INALUM) and Rio Tinto regarding the Grasberg joint venture (JV) project in Indonesia.

Upon closing of the transaction, expected in the second half of 2018, PT Freeport Indonesia will own 60% of Grasberg, and INALUM will own the remaining 40%, after 2022. “The successful closing of the Grasberg transaction should close the price:net asset value gap to peers,” Cabrera added, referencing Freeport McMoRan.

The analyst provided the agreement’s terms, which are:

INALUM would acquire Rio Tinto’s 40% interest in the Grasberg JV for $3.5 billion. (Rio Tinto is PT Freeport Indonesia’s JV partner in Grasberg. PT Freeport Indonesia is a subsidiary of Freeport-McMoRan.)

INALUM would acquire 100% of Freeport McMoRan’s interest in PT Indocopper Investama for $350 million. (PT Indocopper owns 9.36% of PT Freeport Indonesia). On closing of the transaction, INALUM would own ~51% of PT Freeport Indonesia, and Freeport McMoRan would own ~49%.

Rio Tinto “would forego to Freeport [McMoRan]” an amount equal to the former’s share of JV cash flows received between Jan. 1, 2018, and the deal’s closing.

Cabrera noted for the deal to go through that PT Freeport Indonesia’s mining rights need to be extended through 2041. Shareholders need to develop and agree on an arrangement for Freeport’s continuing management of PT Freeport Indonesia’s operations. Also, environmental regulatory issues need resolving.

Upcoming catalysts for Freeport-McMoRan, indicated Cabrera, include a rising copper price, a successful closing of the Grasberg transaction, “a potential special dividend and/or share buyback by the end of 2018 and execution of the Lone Star development project over the next 18 months.”

As for Freeport generally, Cabrera asserted, “We continue to consider Freeport as the best-in-class North American copper miner.” CIBC maintained its Outperformer rating and $20 per share price target on the copper miner, whose stock is trading today at around $16.77 per share.

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of …read more

High-Grade Gold Results Reported on Nevada Property

Source: Gerardo Del Real for Streetwise Reports 07/16/2018

Warwick Smith, the CEO of American Pacific Mining, and Eric Saderholm, its president, talk with Gerardo Del Real of Resource Stock Digest about their highly prospective gold project in Nevada.

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of American Pacific Mining Corp. (USGD:CSE;USGDF:OTCPK) and the president of American Pacific Mining, Warwick Smith and Eric Saderholm, respectively. Gentlemen, how are you doing this morning?

Warwick Smith: Good. Thanks very much for having us.

Gerardo Del Real: Now, Eric, a brief introduction on your background. I know that you’re a venture capitalist, I know that you’ve specialized in corporate finance and development for publicly traded companies. I would love if you could share just a tad bit more about your background and some of the companies you’ve been involved with.

Warwick Smith: I’d be happy to do so. I got involved in corporate finance, mostly on the mining side for most of my career. I got started in about 1999, had the good pleasure of working with Simon Ridgway’s group for about 10 years. I got a chance to see some success with Fortuna Silver Mines, started with Fortuna Silver when it was a shell, it was about a $4 million dollar market cap at that time, and I think it has over a billion dollar valuation now. We saw some nice success there.

Had similar success in a company called Northland Resources, although that was shorter lived. It was an enjoyable time and it did very well. From there I helped found a company called Riverside Resources run by John-Mark Staude now. He’s doing a great job and really banging away in Mexico. And then teamed up with Eric in 2010 on a company called Western Pacific. We worked together there until about 2014, at which point I took a little bit of time off and Eric went back to Newmont, having great success with Newmont. We had always talked about teaming up again and we were lucky enough to be put in touch together by NOVO to see the Tuscarora asset and decided it was time to team back up. So here we are and took American Pacific Public in March of this year.

Gerardo Del Real: Eric, it was mentioned that you were with Newmont and I understand that you were there for a total of 15 years I think and two different stints. Is that accurate?

Eric Saderholm: That’s correct. I started there in 1994 and then left for the junior market to go work with Rob McEwen at US Gold in 2006. I went on my own in 2008 and then Warwick and I teamed up in 2010. I went back to Newmont in 2016 and became the Manager for Exploration for the Western U.S. I enjoyed it a lot, but I had an …read more

Jack Chan's Weekly Precious Metals Market Update

Source: Jack Chan for Streetwise Reports 07/16/2018

Technical analyst Jack Chan charts the latest moves in the gold and silver markets.

Our proprietary cycle indicator is up.

Gold sector is on a long-term buy signal. Long-term signals can last for months and years and are more suitable for investors holding for long term.

Gold sector is on a short-term buy signal. Short-term signals can last for days and weeks, and are more suitable for traders.

Our ratio between gold and gold stocks has broken out to a multi-month high, and is currently pulling back.

The big picture is supportive for a new bull leg soon.

Speculation on gold is at levels of previous bottoms.

Silver is on a long-term buy signal.

SLV is on a short-term sell signal, and short term signals can last for days to weeks, more suitable for traders.

COT data is supportive for overall higher silver prices.

Summary

Precious metals sector is on a long term buy signal. Short term is on mixed signals. Cycle is up. COT data is supportive for overall higher metal prices. We are holding gold related ETFs for long term gain.

Jack Chan is the editor of simply profits at www.simplyprofits.org, established in 2006. Chan bought his first mining stock, Hoko Exploration, in 1979, and has been active in the markets for the past 37 years. Technical analysis has helped him filter out the noise and focus on the when, and leave the why to the fundamental analysts. His proprietary trading models have enabled him to identify the NASDAQ top in 2000, the new gold bull market in 2001, the stock market top in 2007, and the U.S. dollar bottom in 2011.

Want to read more Gold Report articles like this? Sign up for our free e-newsletter, and you’ll learn when new articles have been published. To see a list of recent articles and interviews with industry analysts and commentators, visit our Streetwise Interviews page.

Disclosure:
1) Statements and opinions expressed are the opinions of Jack Chan and not of Streetwise Reports or its officers. Jack Chan is wholly responsible for the validity of the statements. Streetwise Reports was not involved in any aspect of the article preparation or editing so the author could speak independently about the sector. The author was not paid by Streetwise Reports LLC for this article. Streetwise Reports was not paid by the author to publish or syndicate this article.
2) Jack Chan: We do not offer predictions or forecasts for the markets. What you see here is our simple trading model, which provides us the signals and set-ups to be either long, short, or in cash at any given time. Entry points and stops are provided in real time to subscribers, therefore, this update may not reflect our current positions in the markets. Trade at your own discretion. We also …read more

Explorer Reports Assays Up to 226 g/t Gold

Source: Streetwise Reports 07/15/2018

This Canadian firm’s summer exploration program has produced assays ranging to 226 g/t gold.

In a July 12 press release, Canadian explorer TerraX Minerals Inc. (TXR:TSX.V) reported assay results from summer field programs on several zones in its Yellowknife City gold project.

The first set of results is from samples taken from the Gull Lake and Rater Lake zones. “The highlight assays are 43.7 g/t Au, 28.0 g/t Au, and 19.05 g/t Au on the Gull Lake Zone with several additional assays in the 1 to 5 g/t Au range on both zones,” the company reported. “These gold zones are interpreted as being the continuation of the Giant Mine gold structure, warranting immediate further work along these structural trends.”

Channel sampling at the past-producing Ptarmigan mine, acquired by TerraX earlier in 2018, included “assay results for gold range up to 226 g/t Au and 126 g/t Ag in 0.50 m channel samples from Channel ECH18-037,” according to the release. Results from other assays included:

• ECH18-037 – 24.75 g/t Au over 5.50 m (including 44.82 g/t Au over 3.00 m);
• ECH18-036 – 5.39 g/t Au over 7.50 m (including 10.44 g/t Au over 2.50 m);
• ECH18-035 – 4.25 g/t Au over 2.00 m.

The company’s executive chairman, Joseph Campbell, noted that the samples “on both our Northbelt and Eastbelt properties were taken from easily accessible areas,” alongside or proximal to roadways.

“The channels from the Ptarmigan area have grades very much in line with its historical high grade production and our initial work at both these areas confirms continuity within these large mineralizing systems. We are continuing to work in these areas and additional results are pending,” Campbell commented.

TerraX’s Yellowknife City gold project is located within the historically productive Yellowknife gold district in Canada’s Northwest Territories.

Read what other experts are saying about:

TerraX Minerals Inc.

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Disclosure:
1) Tracy Salcedo compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: TerraX. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. …read more

Newfoundland Maritime Disaster

Source: Bob Moriarty for StreetwiseReports 07/12/2018

Bob Moriarty of 321 Gold discusses the situation with a buy-out bid for a Newfoundland gold project.

Maritime Resources Corp. (MAE:TSX.V) screwing their own shareholders isn’t the worst case of stealing and self-dealing I have seen in the last 17 years. For certain that would have to be Ian Rozier and his band of merry men who totally raped their shareholders back in 2014.

In comparison all Douglas Fulcher and Allan Williams did was make sure their shareholders couldn’t possibly profit when a real mining company made an offer to pay 40% more for their shares than the market thought they were worth.

Maritime Resources has a wonderful gold deposit called Green Bay that consists of the former Hammerdown mine in Newfoundland. The deposit could produce 100,000 ounces of gold a year and make a lot of money. If only they had a mill. They don’t.

So management plays at being a mining company and drills some holes now and again to pretend they are adding resources to what would be ten years of production if they had a mill. They don’t. In reality they are running a “Hobby Gold Mine” where you have everything you need to collect paychecks except a mill and income. But as long as shareholders are dumb enough to keep you in office, you can keep cashing those paychecks.

For all practical purposes management hasn’t advanced Green Bay in five years since posting a 43-101 resource back in 2013. They have drilled meaningless drill holes but this isn’t a mining company it’s more of an expired lottery ticket on what could have been a great project. Along comes Anaconda Mining Inc. (ANX:TSX) and they throw a monkey wrench into the works by offering Maritime shareholders a 64% premium.

Anaconda is a real mining company with mines, income and management. Best of all, they have a mill in Newfoundland that they could use the feed for. It’s one of those no lose deals where practically everyone profits. Anaconda picks up a million ounces of economic gold, Maritime shareholders own a major piece of a real mining company. What is not to love?

Well, Maritime management realized the days of their paychecks were numbered. Even in Newfoundland there isn’t a big demand for deadbeats who can’t advance a mining company. If you have no qualifications in mining management and won’t even take a real stake in your own company, you want to move to Toronto or Vancouver. Deadbeats have a real future there.

The CEO of Maritime seems to be the only person who is a serious mining guy. He has been a director in 53 different companies that I have never heard of before. He must have made a major contribution to all of them. I suspect it wasn’t enough of a major contribution to make his fortune. He is about the only person in …read more

Bonanza Gold Hit in Nevada

Source: Bob Moriarty for Streetwise Reports 07/11/2018

Bob Moriarty of 321 Gold provides an update on an explorer that has been finding success at the drill bit.

I wrote about Viva Gold Corp. (VAU:TSX.V; VAUCF:OTCBB) in mid-May. I said the company was an easy triple from the $0.32 the company was selling for. The shares blasted higher to $0.33 up until they released results from the first four holes in their current 28-hole program.

In one of the more interesting days for a stock, on July 9th the shares advanced from $0.33 to $0.40 for a 20% increase. 19,000 shares traded in total. That’s $7600 Canadian. It’s like a very weird good news/bad news joke. The stock’s up 20% but only three people bought any. However it should give investors a sense of what will happen when the market gets it. I did mention in the May piece, “Visibility is a real problem.”

This company might as well be invisible. Part was due to them not having a U.S. symbol but they have fixed that last week. Now the shares are open to U.S. investors.

This is one of the most incredible stories I have ever heard that obviously no one else heard. Their property is called the Tonopah Gold Project in the Walker Lane District in Southern Nevada. They bought it out of bankruptcy for $25,000 after Midway Gold went teats up. It came with 641 drill holes and 93,903 meters of drilling and a 414,000 gold ounce 43-101 resource. The open pit would have a tiny 2:1 strip ratio. Viva intends to publish a PEA in the 2nd half of 2018.

If you are serious enough to work out the numbers, it makes gold worth about $10 an ounce in one of the best jurisdictions in the world. The company only paid $0.065 an ounce for gold in the ground. And obviously nobody buys a serious gold project for under $0.07 an ounce of gold.

There was this slight kicker and the reason the bankruptcy court couldn’t give the project away. There was the tiny matter of a 7% NSR. Over the years it grew and grew and you can’t mine gold anywhere in the world with taxes and a 7% NSR. So Viva management went to the NSR holders and held out an empty hand and said, “This is how much money you have made from your 7% NSR in the last twenty years.”

Then they held out their other empty hand and said, “This is how much you are going to make out of your 7% NSR in the next century.” The royalty holders got it and came down to a reasonable and proper 2% NSR, which means Viva can mine and actually have a chance of making money.

So Viva raised some money for a serious drill program and began to drill their approved 28 holes. On the 9th of July …read more

Doug Casey Talks Cryptocurrencies, Precious Metals and Novels

Source: Maurice Jackson for Streetwise Reports 07/11/2018

Doug Casey, chairman of Casey Research, speaks with Maurice Jackson of Proven and Probable about his investment philosophy, the state of the markets and where he is investing today.

Maurice Jackson: Today, we have a very special guest joining us to discuss the natural resource space and your portfolio, the legendary investor, philosopher, bestselling author and serially successful Doug Casey.

A number of speculators are confused and frustrated with the current state of the natural resource space. I hear comments that it just seems to be dragging along. In my experience, strong hands love the current value propositions and the weak hands fold.

Our listeners are seeking your wisdom on how to cultivate the mental fortitude that you’ve had to make you so successful over the years. Take us through for a moment your thought process when sentiment is low. What does Doug Casey, one of the most serially successful speculators, do?

Doug Casey: The first thing I try to do is watch my own psychology. None of us are immune from emotion. When I find that I’m getting enthusiastic and bullish about anything, I try to stop myself, and look at the other side of the coin.

We were speaking momentarily before we started this interview. You mentioned that at the upcoming Sprott Conference, there were 700 or 750 people registered last year. This year, it sounded like there’s only about two-thirds of that number. I find this very indicative.

Prices of these resource stocks are currently quite low. People are not talking about the commodities in general, or metals in particular. The way I see it is that the world situation is more explosive than ever. I’ve got to say that I’m a bull.

Maurice Jackson: Please provide us with a macro view of the current state of the natural resource space.

Doug Casey: The last time commodities peaked was way back in 2011. That’s seven years. It’s been, in effect, a seven-year bear market. There’ve been some bounces and some false starts along the way, but all this while, the general price level has been getting higher. Inflation is there, but the prices of all commodities have been going down in dollar terms, and the dollars themselves are worth less.

The longer this goes, the more bullish I have to become. I don’t know if the markets are going to turn around next week, next month, but I can’t believe that it’s going to go on yet another year. This is a time to prudently, and of course using the word “prudent” in the same sentence as speculation on natural resources is almost contradictory, but still I’ll say it, this is a time to try to accumulate really sound companies with good management, good properties, good financing, and so forth.

I expect, whether it’s next year, or two years, or three years …read more

Precious Metals Firm Launches Exploration Program in British Columbia

Source: Streetwise Reports 07/11/2018

A Haywood Securities report shared what is new with this Canadian company.

In a June 4 Junion Exploration Report, analyst Mick Carew indicated that Haywood Securities Inc. added Juggernaut Exploration Ltd. (JUGR:TSX.V) to its Watch List, which means, for one, it is expected to announce news during Q3/18.

As for the latest developments, Juggernaut just began a CA$3.5 million 2018 exploration program at its 100%-controlled Midas and Empire projects located south of British Columbia’s Golden Triangle. Geochemistry, mapping and sampling will be done, followed by drilling of several targets to help the company prioritize them for additional work.

Subsequent to that, the explorer will drill the northwest trending King Solomon gold zone at Midas, which is “of particular interest” and where a 2.1 by 1.6 kilometer area of volcanogenic massive sulphide polymetallic and gold mineralization has been identified, Carew wrote.

The Empire property spans 16,400 hectares and “comprises several targets,” Carew described. Area infrastructure includes logging tracks for access, power that is 8 kilometers away, roads and rail. Highlight assays from rock chip and channel sampling in 2017 at the Rockstar zone included 6.02 meters (6.02m) grading 1.53 grams per ton (1.53 g/t) gold, 1.38% copper, 0.23% zinc and 0.13% lead. One rock chip sample returned 21.7 g/t gold, 0.94% copper, 3.42% zinc and 11.55% lead.

The Midas property, which covers 16,653 hectares, has nearby infrastructure and “is defined by an 18 by 10 kilometer alteration zone of oxidation and quartz-sericite-pyrite alteration,” Carew indicated. Rock chip and channel sampling elicited high-grade gold mineralization, including 4.34m grading 10.28 g/t gold.

Both Midas and Empire are under option agreements with the DSM Syndicate in which Juggernaut has a 20% interest. Per the agreements, Juggernaut must pay, through cash, shares and warrants, CA$13.35 million per project over five years.

The company also just closed a private placement of CA$2.74 million, which boosted its cash balance to CA$3.5 million. The company has no debt.

Want to read more Gold Report articles like this? Sign up for our free e-newsletter, and you’ll learn when new articles have been published. To see a list of recent articles and interviews with industry analysts and commentators, visit our Streetwise Interviews page.

Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and …read more

Gold Explorer-Developer, with Exploration Drilling on Deck, Chosen as a Top Pick

Source: Streetwise Reports 07/10/2018

An Echelon Wealth Partners report explained the rationale for elevating this firm’s status.

A July 9 research note indicated that Echelon Wealth Partners selected Revival Gold Inc. (RVG:TSX.V) as a Top Pick based on expectations for its 2018 drill program that aims to expand the resources at Beartrack in Idaho. The company plans to drill 8,000 meters along the Panther Creek Fault, which primarily hosts Beartrack’s mineralization and which is open along strike and at depth. Analyst Gabriel Gonzalez wrote, “We believe there is good potential for the company to add resources to the recently announced 1.98 million ounce (Indicated plus Inferred) resource estimate.”

Gonzalez listed the positive attributes of this gold exploration and development company. For one, Revival has strong assets, including Beartrack, which produced more than 600,000 ounces between 1995 and 2001, and Arnett Creek.

Revival has good optionality to an increasing gold price at Beartrack. Along with the existing 1.98 million ounces of mineral resources in a pit there, it has 488,000, or 25% more, ounces, contained in a 0.4 gram/ton cutoff pit shell. “The base case resource uses a 45-degree pit wall, which we believe through optimization could bring additional resource blocks into the pit design, particularly near surface and along strike to the north and just below the south pit,” explained Gonzalez.

Revival is led by an experienced team, including Hugh Agro as CEO and Steve Priesmeyer as vice president of exploration, and board of directors, including Diane Garrett, who sold Romarco Minerals for US$550 million, and Wayne Hubert, who sold Andean Resources for CA$3.5 billion.

With all of the above, in addition to Beartrack and Arnett Creek being in the stable jurisdiction of Idaho, Revival Gold is a potential takeout target. Gonzalez purported that senior gold producers “will soon have to replenish their project pipeline for higher-grade projects with strong production potential,” and Revival could benefit.

Gonzalez pointed out that Revival experienced recent positive market traction after completing confirmatory drilling at Beartrack in January 2018 and subsequently releasing the NI 43-101 resource estimate for the project. Since then, the stock closed at CA$0.94 per share two times. “We believe the company’s increasing market visibility and exploration catalysts will continue to bode well for the shares,” Gonzalez said.

Those near-term catalysts include 2018 drill results from Beartrack in H2/18, metallurgical test results from Beartrack in Q4/18 and start of drilling at Arnett Creek once permits are received, expected in H2/18.

Echelon has a Speculative Buy rating and a CA$1.70 per share price target on Revival Gold, whose stock is currently trading at around CA$0.87 per share.

Read what other experts are saying about:

Revival Gold Inc.

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Gold Miner's Latest Drill Results 'Continue to Support Growth Plans'

Source: Streetwise Reports 07/10/2018

A CIBC report relayed the latest exploration findings at one of its Canadian mines.

In a July 6 research note, CIBC analyst Cosmos Chiu indicated that Kirkland Lake Gold Inc. (KL:TSX; KLGDF:OTCQX) reported results from underground drilling in the eastern extension of the South mine complex at Macassa, which “continue to support the company’s growth plans” there. CIBC increased its target price on the company to CA$31 per share from CA$26. In comparison, it is trading today at around CA$29.29 per share.

At Macassa, the company intends to finish building the #4 shaft and to reach annual gold production of more than 400,000 ounces. Chiu noted that “intersections reported today are in close proximity, or ~560 meters (~560m) south-southeast, of the new #4 shaft,” the first construction phase of which is scheduled for completion in early 2022.

Chiu relayed that drilling indicated additional resource expansion as all of the extensions but two were outside of the existing mineral resource area. The high-grade ones included 241 grams per ton (241 g/t) over 1.1m true width, 24.3 g/t over 1.4m true width and 54.2 g/t over 2.3m true width. Others, within the footwall veins, included 50.7 g/t over 0.8m and 16 g/t over 0.7m.

Drilling also identified a “‘high potential area’ within the eastern extension of the South mine complex of high grades and exceptional true widths,” Chiu said. It featured an approximately 73m strike length and 45m dip. Average grades there were greater than or equal to 30 g/t. True widths were greater than or equal to 30m.

Chiu added that Kirkland Lake, “one of our preferred gold producers,” is trading below its peers but warrants a premium to the group based on its “ability to deliver attractive returns to investors.” He reiterated CIBC’s Outperformer rating on the miner.

Want to read more Gold Report articles like this? Sign up for our free e-newsletter, and you’ll learn when new articles have been published. To see a list of recent articles and interviews with industry analysts and commentators, visit our Streetwise Interviews page.

Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult …read more

Copper Miner Makes Key Acquisition

Source: Streetwise Reports 07/10/2018

The Mocoa deposit in Colombia has been acquired by this copper miner.

Libero Copper Corp. (LBC:TSX.V:, LBCMF:OTCQB ) recently announced it has completed the transaction with B2Gold Corp. to acquire 100% of the Mocoa porphyry copper-molybdenum deposit in Colombia. Libero has issued 10,400,000 shares comprising a 19% stake in Libero Copper and a 2% royalty on the project.

B2Gold will have a right to participate in future equity financings to maintain its current stake.

Additionally, Libero has a right of first refusal on a sale of the royalty.

The Mocoa deposit inferred resource at a cut-off of 0.25% copper equivalent is 636 million tonnes of 0.45% copper equivalent, including 4.6 billion pounds of copper and 511 million pounds of molybdenum.

The Mocoa deposit takes its name from town of Mocoa, which is 10 km away and is near the Ecuador border. B2Gold has already conducted diamond drill programs there, 5,123 meters in nine holes in 2008 and 1,768 meters in three holes in 2012.

The Mocoa deposit lies in the Eastern Cordillera of Colombia, a 30-kilometer-wide tectonic belt. This area is also the site of Mirador (438 million tonnes measured and indicated at 0.61% copper and 235 million tonnes inferred at 0.52% copper), San Carlos (600 million tonnes inferred at 0.59% copper) and Panantza (463 million tonnes inferred at 0.66% copper).

Drill tests there have shown the copper concentrate had a grade of 24% copper with a recovery of 86% and the molybdenum concentrate had a grade of 55% molybdenum with a recovery of 83%.

Want to read more Gold Report articles like this? Sign up for our free e-newsletter, and you’ll learn when new articles have been published. To see a list of recent articles and interviews with industry analysts and commentators, visit our Streetwise Interviews page.

Disclosure:
1) Jake Richardson compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise …read more

Jack Chan: Bullish Markets in the Big Picture?

Source: Jack Chan for Streetwise Reports 07/09/2018

Jack Chan charts the latest moves in the gold markets and sees the potential for a new “bull leg.”

Our proprietary cycle indicator is now up.

The gold sector is on a long-term buy signal. Long-term signals can last for months and years and are more suitable for investors holding for long term.

The gold sector is on a short-term buy signal. Short-term signals can last for days and weeks, and are more suitable for traders.

Keep your eyes on the big picture. This massive bottoming pattern has bullish implications for the long term.

Our ratio between gold and gold stocks has broken out to a multimonth high . . .

. . . and also on a weekly basis, suggesting that a new bull leg is now in progress.

Silver is on a long-term buy signal.

SLV is on a short term sell signal, and short term signals can last for days to weeks, more suitable for traders.

COT data is supportive for overall higher silver prices.

Summary
The precious metals sector is on a long-term buy signal. Short term is on mixed signals. The cycle is up. COT data is supportive for overall higher metal prices. We are holding gold-related ETFs for long-term gain.

Jack Chan is the editor of simply profits at www.simplyprofits.org, established in 2006. Chan bought his first mining stock, Hoko Exploration, in 1979, and has been active in the markets for the past 37 years. Technical analysis has helped him filter out the noise and focus on the when, and leave the why to the fundamental analysts. His proprietary trading models have enabled him to identify the NASDAQ top in 2000, the new gold bull market in 2001, the stock market top in 2007, and the U.S. dollar bottom in 2011.

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Disclosure:
1) Statements and opinions expressed are the opinions of Jack Chan and not of Streetwise Reports or its officers. Jack Chan is wholly responsible for the validity of the statements. Streetwise Reports was not involved in any aspect of the article preparation or editing so the author could speak independently about the sector. The author was not paid by Streetwise Reports LLC for this article. Streetwise Reports was not paid by the author to publish or syndicate this article.
2) Jack Chan: We do not offer predictions or forecasts for the markets. What you see here is our simple trading model, which provides us the signals and set-ups to be either long, short, or in cash at any …read more