Ethos Gold Corp (ECC)

[TFMG]

Ethos Gold Corp. Trade setup



Ethos Gold Corp. engages in the exploration, development, and identification of mineral properties. It holds interests in La Purisima, Mexico and WC Property, Yukon. The company was founded by Gary Richard Freeman in 2007 and is headquartered

[douginil]

Link posted by JohnCM on the Sandstorm board at iHub. A positive interview with Nolan Watson of Sandstorm at a conference in Hollywood, Florida. $350 million to invest over the next couple of years. Thinks there is "a lot of private equity coming in" investment cash on the sidelines looking for a place to invest.

http://www.kitco.com/news/video/show/BMO-Metals--Mining-2014/567/2014-02-25/Sandstorm-Looking-To-Invest-$350m-CEO

douginil

[Tamtam]

Nice day yesterday, hopefuly the uptrend continues

[Tamtam]

Minus 12% is not what I like, when will this baby lift off?

[rlfb06]

Headline. "The tip of this iceberg may no longer be ignored or The elephant in the room has finally been spotted"
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/9/13_Morgan_Whistleblowers_Confess_Bank_Manipulates_Gold_%26_Silver.html

[rlfb06]

"So far it has just seemed to be extreme cash conservation but I bet it is not all vacation."

Would surmise this also. It's been awhile since the company has released anything. Hopefully something soon to show that it not all vacation.

[rlfb06]

Agree and will be watching myself. Have seen these kind of pops on no news in the past. I would tend to believe the company isn't standing still, but then again no news is no news.

[gharma]

obvious that someone has faith in the future here, but looking at insider activity and at filings I do not come up with any hint of a why or wherefor

[Tamtam]

Volume was good too, let's see what monday brings. Will tere be a follow up or not
Tamtam

[gharma]

Yep, afaik they have not much happening except likely scouting for opportunity. G Freeman's leadership previously did me well so I am down to wait and see, plus if it matters or is true Greg McCoach, for whatever that is worth, who has said he goes back pretty far with ECC CEO Freeman also once said Freeman is pretty good acquaintance with Shaun Ryan. So far it has just seemed to be extreme cash conservation but I bet it is not all vacation.

[rlfb06]

The share price was getting exhausted and maybe hit bottom but its like the company is starting over and will just have to wait until something develops news wise. GLTY

[gharma]

Yes, the pop caught my eye also. I am with you on the silence. After the increase I started thinking of checking filings as perhaps a reaction to something said in quarterly, or maybe even just adjusting to current cash position. Don't have a clue before looking but I am with you on the "interesting" comment.

[rlfb06]

Well that was a good pop to .19. Insider buy of 28k shares at .17 but that shouldn't have been the catalyst. Broke through the resistance trend line dating back to March of '12 (off a double bottom) but still too early to call. RSI made a higher high (but not through 50 yet) and MACD still trending up. Disappointed in the lack of communication on what the company is actually doing and at this point purely speculative, but interesting. Keeping an eye on though.

[gharma]

And the game continues at the expense of the crowd and the day of reckoning for this to play out is inevitable, just a matter of time.

So, so sad, but very likely true.

The US government has been reduced to little more than a wealth redirection machine, as far as non-defense policy is concerned.

I recall as a boy in Jr High in a class called Civics (is such a thing taught any more?) one of the "hot button" issues was whether the government was effecting "redirection of wealth" with its social policy, but from the wealthier to the poorer, and whether that was appropriate as a role of government, whether that was socialist, communist, etc..
My how things have turned full circle.

ECC continues to show relative strength in the face of this sector bear, and for no real reason other than the principals involved and the treasury as far as I have seen.

[rlfb06]

"So the US Government (with the aid of the Fed) have to bail them out, basically paying exorbitant prices for gold (via those commodity houses / bullion banks using the bailout money) to get back to the US Treasury and Fed in satisfaction of the expired leases."

And the game continues at the expense of the crowd and the day of reckoning for this to play out is inevitable, just a matter of time. Good call.

[gharma]

The old KISS principle does have its worth, doesn't it.
And, on the reverse, when the metals have a major cause to turn up, there will be that sheep mentality ready to ride the tide and even push the waves a little higher.

[Tamtam]

Maybe it's simple-minded ( as you say) gharma but is in general what I believe too.
Tamtam

[gharma]

Interesting read, a good warm-up for what hopefully turns into a more revealing interview. The way gold leasing works and the likely result if one assumes a shortage of physical causes a dramatic price increase has all been understood for decades however.

Interested in the Worm Oroborous type phenomena? The consider.
The Treasury and Fed are forced to recall leased gold, but of course that collapses the physical market as that much is unavailable, which leads to collapse of JPM, Goldman Sachs, et al. But that collapse cannot happen as they are not just too big to fail, they are now recognized by the US Government as too big to prosecute. So the US Government (with the aid of the Fed) have to bail them out, basically paying exorbitant prices for gold (via those commodity houses / bullion banks using the bailout money) to get back to the US Treasury and Fed in satisfaction of the expired leases.

Nightmare? Sure. But very real, and not really anything new. Its been that way for decades. Up to now the leases have been covered by new leases when their term comes due.

[rlfb06]

If it is gone and melted as reported, one would think there will have to be an incentive for miners to gear back up (but not at today's prices).

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/7/9_Game_Over_-_Its_All_A_Farce,_The_Fed_%26_German_Gold_Is_Gone.html

[gharma]

IMO 255 seeing cheaper prices later, 75% sheep mentality.
It is hard to see the decline as a belief in the value of the dollar (even though the dollar has been strong)
For whatever reason the precious metals have been depressed, imo irrationally, and so those that produce them are stressed as is any company when its product drops in price but its cost of production do not.
I realize that is pretty simple-minded, but how I see it.

[rlfb06]

The drop from .20 to .165 was on light volume and a good support level is being approached. Picking bottoms these days is next to impossible but I am thinking we are now getting close here in particular and the overall market in general. The downside may continue by some percentage points but when the naked shorts are squeezed the upside should be quick and significant. The market is being manipulated for a reason and it's all to make money (capitalize TPTB), on the downside and then again on the upside. Three good and short articles all from KWN.

"We know that the physical markets are a complete disconnect with the paper market for gold. The demand in Asia, as evidenced by the premiums for physical gold, are at record levels. There is a shortage in the physical markets and the paper markets are very short.


The (gold) market short position is greater than it was at the bottom in 2008. So I would just expect a violent recoil in this extremely oversold market. I wish I knew when, but I kind of think it’s being exaggerated here at the end of the quarter.”

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/6/26_Physical_Gold_Market_In_Disconnect_As_Premiums_Hit_Record.html

“As I talk to you now we are now trading in the $1,220s, which is a new multi-year low. So the bulk of the damage was done in two time periods: In Asian trading and in equally thin Chicago (COMEX) trading, when most of the real players have already gone home.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/6/26_Physical_Gold_Market_In_Disconnect_As_Premiums_Hit_Record.html

“Every year in June or early July is always the point of maximum stress for gold and silver. This year is no exception. When I look at gold in particular, if you go back 1974 to 1976 we saw a 47% retracement in gold.


If we were to see something like that today, gold would go slightly below $1,000. Could it happen? Yes, of course anything can happen, but I doubt it. A 40% retracement is slightly below $1,200. We’re almost there on gold already....
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/6/27_A_Legend_Speaks_Out_About_The_Gold_%26_Silver_Takedown.html

[Tamtam]

What is the cause of this general drop IYO gharma?
Tamtam

[gharma]

the fall today (-13%) is in line with that for many others in the industry (compare AUN -12.5%, SVLC -11.5% and those are in production, or compare to the cream of the crop exploration asset holders today, like PVG -11%, SA -10% )
Overall I am somewhat surprised ECC has resisted the market downtrend as much as it has this past month.

[Tamtam]

Wow were is the sp heading too?What could be the reason for such a fall, I don't see any news

[Tamtam]

Les than two weeks (30th of june) before we see the financial 2nd Quarter report.
Tamtam

[Tamtam]

Ethos Grants 1,780,000 Incentive Stock Options
Vancouver, BC -- May 16, 2013, Ethos Gold Corp. ("Ethos" or the "Company") (TSX-V: ECC) has granted, under its Share Option Plan, incentive stock options to certain directors, officers, employees and consultants of the Company to purchase an aggregate of 1,780,000 common shares exercisable for a period of up to five years from the date of grant at a price of $0.36 per share. 100,000 of the aforementioned incentive stock options are being granted to Fred Leigh, the investor relations manager of the Company. 1,250,000 of the options are subject to acceptance for filing by the TSX Venture Exchange and 1,200,000 of those options are also subject to disinterested shareholder approval at the Annual General Meeting of the Company to be held on June 19, 2013.

About Ethos Gold Corp.

Ethos has working capital of $9 million and 43.5 million shares issued and outstanding, and retains a highly qualified and successful management team.

[Tamtam]

Little to no volume, hopefully things change this year for the better

[gharma]

Thanks for pointing to the news release, which I had not noticed either.
The statement
"consultant to the Company as it actively assesses additional projects for acquisition or opportunities for a business combination"
really is not a surprise, but I guess it does make this public.
Odd that iHub did not pick up the news, but Stockhouse did, and addest that Google does not find any webpage or new release based on searching for title/phrase of the NR.

I also noted that late day penny uptick today, but otherwise don't know what is driving this

[rlfb06]

Good move. Here is some news I hadn't seen.
http://www.ethoscapitalcorp.com/s/news.asp?ReportID=581856
This in itself does not explain today's nice move (and candlestick) on average volume. Possible the thought is if anyone can put together a good JV, GF can. But that is speculative in nature and not anything to hang a hat on and break resistance. Curious.

[gharma]

Thanks for noticing . . . no surprises, except we still do not know why the company's stock has been showing the strength it has lately.

Also, thanks for the morning gold info links. The physical situation is obviously not new, but is likely now new information for a slowly growing number of people. If I recall, having lived through the Nixon to Carter administrations involved with precious metals, once it became legal to own gold interest picked up, but it was not until it started to appear that silver was in such short supply (i.e. height of the Hunt brothers cornering the market, plus the recent cessation of its use in US coinage and very visible end to seeing any in circulation around that time) that the public attitude became one of "if one wants some one needs to act" before its price spiraled even higher. And it was then that the bubble part of the price escalation came into force, as the general public got involved.
Whether we are looking at the potential for a similar event, but this time with gold leading the way, is to be seen. If so, or perhaps better said when, and a similar event happens the increase will be amazingly fast, if it is similar, fast and dramatic. Back then gold rose from the time it became legal, fairly steadily, but once silver took off (combined with the increasing interest rates reaching never seen highs helping people see the value of the dollar shrink), gold tagged along (to a then new all time high). Bottom line for sharing this, once it appeared that there was a shortage and that the price was only going to go up, and the belief was that the dollar was only going down in value, it was then that people who otherwise would never have been aware of the precious metals market "had to" get in, and they did, however large or small their position. That final few months, the height of the bubble, was an eye-opener, into which I was a seller.

[rlfb06]

More on....Where the physical went and who holds it is another question everyone is asking.
http://www.zerohedge.com/news/2013-04-24/just-what-going-gold-jpmorgans-vault

[rlfb06]

Projects section of corporate website has been updated.
http://www.ethoscapitalcorp.com/s/white-gold.asp

[rlfb06]

“A year ago Egon von Greyerz was reporting that clients of his went to their respective banks to try to get their allocated gold in order to transfer it to his company GoldSwitzerland. In those instances they got it, but the wait was incredibly lengthy, and the physical gold was actually minted after they requested it. Well, if it was really allocated it would have been there."
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/24_Embry__Panic_In_The_Gold_Market_Creating_Problems_For_Shorts.html
Tells me the allocated gold is allocated on record and not in inventory. Where the physical went and who holds it is another question everyone is asking. Regardless, this would make beaten down miners with proven resources/balance sheets a fitting alternate to holding bars/coins.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/25_Sinclair_-_This_Is_The_Beginning_Of_The_End_For_The_Gold_Shorts.html
JMO

[gharma]

Interesting, as that is almost -10% to fill that gap. Despite being slightly up on the PMs at the moment, especially Pd and then Pt (which really makes sense by supply/demand), I am not willing to think things have settled to target range yet as in my book the next major resistance points are significantly below the 23.3/23.4 and 1350+/- that only provided brief pauses during today's take-down. As far as I can recall this is the closest to a 60 ratio for Au/Ag since before "the crisis", I mean the beginning of "the great" fleecing.

[rlfb06]

Good find, scary scenerio and gold futures still sliding to 1331. What I did notice today and not previously is the gap in the S&P futures daily chart at around 1425 (around the 1st of the year). And you know my position on gaps. I've rarely not seen one fill sooner or later.

[gharma]

GM to continue what might be seen as OT but what is relevant to the future strength of ECC and other junior minors, which will have a disproportionately high degree of the price pressure thrust on them . . .
A poster in another board came up with this piece
http://goldtrends.net/FreeDailyBlog?mode=PostView&bmi=1267250
which I am passing along more for the graphic presentation of the depletion of physical in the depositories than anything
In itself that tends to explain much, if one operate from a full deck that can see the larger picture of the massive shorts and intervention.

[rlfb06]

The other side states its case.

http://www.businessinsider.com/everyone-should-be-thrilled-by-the-collapse-of-gold-2013-4

Excerpt...

On one hand you have established economists, who believe the government has tools at its disposal to address a crisis. These tools include deficit spending and a violent expansion of the Fed's balance sheet.

Conversely you have critics who slam the arrogance of economists and central planners, and who have predicted that all of this economic acrobatics would result in an economic collapse, hyperinflation, and an explosion in the price of gold. Gold is important to their worldview, because it represents a quasi-money that's not tied to any government or central bank.

Investing in gold is a rejection of government money and finance. Money flowing into gold-related assets represents a belief that rocks (however shiny they are) are a better place to invest than human endeavors (like stocks).


Read more: http://www.businessinsider.com/everyone-should-be-thrilled-by-the-collapse-of-gold-2013-4#ixzz2QX3lw21z

[rlfb06]

"It was about confiscating wealth through fear, and it worked beautifully. Untold billions of real wealth were forcibly transferred to concentrated positions at certain institutions and countries through this act of financial terrorism. It is not personal. It is simply about taking your wealth.

We alluded to it last week. We suggested that there would come a time when the perpetrators of the price suppressions would surprise us with an announcement that they were no longer short real assets, but massively long. This could very well have been the opening salvo bringing us to that moment in history."

"It is not just the savage attacks on gold and silver. Waves of selling have been launched in oil, copper, platinum and palladium.... "

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/15_Here_Is_What_You_Must_Know_About_The_Gold_%26_Silver_Smash.html


I suspect more salvos to drive a stake into the fearful, but short of a Rooseveltian move, the smart money always buys low. Unfortunately this is still playing out.

[gharma]

Sadly, yep, pretty much. I took the Eric Holder quote in congress, to effect that the TBTF are considered too big to prosecute, as an open acknowledgement of the known, that the system is sold, lock, stock, and barrel, only waiting for a public epitaph to be pronounced for the masses. Can the presses (electron value bits buttons) keep the pressure sufficiently high that the surface area does not contract ? Not much difficulty to date, however . . . and besides, if the sovereigns believed it possible why would they buy gold ?
The smackdown in metals after HK opened tonight was stronger than the Friday US Movement. imo the issue is only one of when the corner gets turned.

[rlfb06]

I'll admit, a little OT but the discussion does affect gold and miners. Even a lame duck administration can impliment considerable political/economic change and the associated intended or non intended concequences. What I see are two diametrical opposites. Free market (if such a thing still exists)/capitalistic camp vs a socialistic/micromanagement camp (my observation). The current camp seems to believe budgets and budget deficits are irrelevant as all you need to do is buy more ink and "tax everything that moves and doesn't move" (Hillary Clinton, Oct 30, 2009). Thus the importance of the '14 elections. Interestingly enough, as we head further away from free markets the disparity between the rich and the poor widens. One would think in a pure capitalist society this would be the case (the disparity), but alas, not. What we are seeing now is the biggest transference of wealth from the middle class. Politically, the parties will always be split and the motivations will always be the same in subsequent elections. Hopefiully it will just be a matter of balance with seperate but equal legislative, judical and exectutive branches. Once the balance of power is skewed heavily to any one side, therein lies the risk of past world failures. On the financial side we've learned nothing. The TBTF's have gotten even TBiggerTF (and it's been allowed to happen). JM2cents

[gharma]

With the tight split between the parties and the inability to govern, or even effect minor change, as things have been you could very well be correct. But then after fall '14 would there be any change in the motivations looking toward '16 congressional and presidential elections?
Quite the take-down in PMs this week, making it appear the need to appease fears of economic collapse vs to hedge against inflation/printing has for now been quieted in the minds of many.

[rlfb06]

"IMO whether JS is calling it right, or not now, or just plain not, the present course of economic "stability" is not sustainable for long."
I am thinking the crown jewel is the 2014 Senatorial and especially Congressional elections for the current administration. TPTB (rig masters) will do their best to keep this tire from going flat until then (very frustrating), but then again history has a way a throwing a monkey wrench into things. Totally agree ECC is a mystery at this point.

[gharma]

Hey, with Japan turning course from a decades long stubborness, and the central banks of the current (for the time being) and prior (UK, sterling) world reserve currencies all three printing new value electrons with no end in sight the "eventual" is obvious. But then I have never been a fan for, nor one to bank on "eventual".
Things are so rigged, and yet no one is willing to call the dow in a bubble. I guess it takes more than central bank injections, but a public rush into something for it to be a bubble.
Commodities down, supposedly because of projected slow growth and so low need/consumption. Revenues, to individuals and hence governments flat to down. Yet there is cause for positive outlook for these companies ?
wtf . . . IMO whether JS is calling it right, or not now, or just plain not, the present course of economic "stability" is not sustainable for long.
ECC is a mystery until it isn't and I am guessing we will not know until mid-May give/take.

[rlfb06]

Recent activity with no specifics yet.

http://canadianinsider.com/node/7?ticker=ECC&tab=marker

The volatility this week is intriguing on no news. Not a fan of this action from a public perspective. Something seems afoot though. Todays reaction possibly due to golds decline today but I would tend to follow the analysis of JS
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/11_Jim_Sinclair_-_The_World_Has_Never_Witnessed_This_In_History.html
than GS.
www.gotgoldreport.com/2013/04/gold-prices-hit-by-goldman-forecast-cut-fed.html
If gold does decline it's a buying opportunity IMO. I will wait it out.

[Tamtam]

Anyway good to see those rises on this volume

[gharma]

The upward pressure continued today, with 200k+ volume both Toronto and OTC.
I am not sure how to read the amended filings now showing for GF for open market purchases since Apr 5, but GF is definitely buying (not close to sufficient to account for the increased volume of late).
http://www.canadianinsider.com/node/7?menu_tickersearch=ECC+%7C+Ethos+Gold
Still no news, and I would guess there would not be for some weeks given the dates on the insider buying.

[rlfb06]

I think your points are on target. Chart wise, $GOLD seems to have good support in the 1550 area. In fact it has been a horizontal channel between 1550 and 1800 since Oct '11 (a traders dream if it can be recognized). At times going from support to reistance (and vice versa) in as little as 2-3 months. If we are bottoming (as I surmise) a return to 1800 is not unfathomable. If JS is correct and the official position is "let it be, for now", we may be finally going higher than 1800. This is pure speculation on my part but if so would be good for beleagured miners with confirmed resources. We shall see.

[gharma]

Interesting pronouncement from JS indeed. In my own read of things there must exist an agreement for western sovereigns to hold gold within a range while China positions its holding for an "equitable" future status in a global economy in which hard reserves will play a part. In return China agreed to not shock the sovereign debt/bond markets. That is just a guess at the plausible, but I do see that gold became tied into the range-bound behavior at about the time of Geithner's visit to China Jan 2012, that the peak of gold ended approx at the time that China was granted direct-bidder status to buy US Treasuries from the US gov without intermediary (announced in June 2011). That any such "agreement" would have been roughly term-limited by the known change (China) and potential change (US) in government leadership and policy (China for sure new 10 yr plan, US potential via elections) would make sense. Also, with the political climate relaxed sufficiently that the Fed was able to move into unlimited QE the pressure to keep the Treasury market from becoming illiquid is relieved for now.
etc. etc. etc. Point being I see nothing to contradict what JS is proclaiming in that piece, but there may be some indicators supporting it.

[rlfb06]

I suspect a retracement after a short period of time to fill the gap, but I also suspect Fridays price/volume was a clue for a future move forward. Just speculation on my part. The following thoughts/interview of Jim Sinclair on KWN is the first proclamation of a pro-gold change underway that I have seen. Well worth reading. Excerpt:
"What you are going to see now, and what the gold community doesn’t understand, is that the Fed and the West are now going to encourage the price of gold to go higher.”
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/7_Sinclair_-_Stunning_Shift_In_US_Government_%26_Fed_Gold_Policy.html
Cheers
rlfb06

[Tamtam]

Such a rise on good volume can only mean we're up to news shortly.GLTY too