Sunday, April 09, 2017 1:23:45 AM
Mining News
Minebot (testing) charts and pics may be delayed cause Ihub computer slow tonight
still working on this bot,
Good Morning
Hope your Having A Fine Weekend
MMGYS
Equitorial Exploration closes acquisition of two western U.S. lithium properties
by Greg Klein | April 7, 2017
With the deal now complete, Equitorial Exploration TSXV:EXX builds a portfolio of lithium properties. The company picked up the Tule Valley project in Utah and the Gerlach property in Nevada by paying Umbral Energy CSE:UMB $50,000 and two million shares, as well as assuming a payment of $100,000. A 2% NSR applies to both properties.
Equitorial Exploration closes acquisition of western U.S. lithium properties
The under-explored Gerlach property might
host structural similarities to Clayton Valley.
Umbral described Tule Valley as a closed valley several kilometres south of lithium source rocks, with active groundwater flow along its western margin. The property “has been affected by evaporate-style processes,” the company stated. “Tule Valley may therefore be conducive to the presence of lithium-bearing groundwater. In this respect, Tule Valley has similar characteristics to Clayton Valley, Nevada, a dry lake bed where lithium is derived from brines located within more porous sediment layers at depth under playa.”
As for Gerlach, also known as the San Emidio project, Umbral characterized it as an under-explored closed basin “in an area structurally comparable to that of Clayton Valley, being bounded by normal faults to the east and west of the property and surrounded by volcanics such as rhyolitic flows and tuffs.”
In March Equitorial filed a 43-101 technical report for its Little Nahanni Pegmatite Group property in the Northwest Territories, a hardrock project that underwent sampling last year. This year’s LNPG program could include resampling previous core, mapping, prospecting, channel sampling and drilling.
resourceclips.com/2017/04/07/equitorial-exploration-closes-acquisition-of-western-u-s-lithium-properties/
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Infographic: The re-awakening of the Golden Triangle
by Jeff Desjardins | posted with permission of Visual Capitalist | April 6, 2017
The re-awakening of the Golden Triangle
Many years ago, a remote and mountainous region in northwestern British Columbia gained considerable attention as an emerging mineral district. With a rich mining history, one of the world’s largest silver mines (Eskay Creek, discovered in 1988) and million-ounce gold deposits, this area of incredible wealth became known as the Golden Triangle.
However, despite its obvious potential, the vast majority of land in this highly prospective region has been left mostly untouched by humans. A combination of factors, including low gold prices and a lack of infrastructure, led to the area lying dormant for decades.
Today, things are changing dramatically. The Golden Triangle is a new hotbed for mineral discovery, where over 130 million ounces of gold, 800 million ounces of silver and 40 billion pounds of copper have been found. The amazing part is that this is only scratching the surface of the region’s ultimate potential.
Skeena Resources TSXV:SKE and IDM Mining TSXV:IDM have generously helped put together the story on the re-awakening of the famed Golden Triangle.
The new gold rush
Why is the Golden Triangle at the centre of attention again? There are five main reasons:
1. New deposits found
The old adage is that the best place to find a new mine is near an existing one. Here are three major deposits in the Golden Triangle that have geologists and financiers buzzing:
KSM
Seabridge Gold’s (TSX:SEA) KSM project is the largest gold project in the world. In 2014 it received the green light from Canada’s federal government to go ahead. A porphyry-style deposit, it has reserves of 38.8 million ounces of gold, 10.2 billion pounds of copper and 183 million ounces of silver.
Red Chris
This $700-million copper and gold mine entered production in 2015. Owned by Imperial Metals TSX:III, it will be in production until 2043 based on current mine life estimates. In 2016 alone, it produced 83 million pounds of copper, 47,000 ounces of gold and 190,000 ounces of silver.
Valley of the Kings
The latest, and perhaps most interesting, discovery in the Golden Triangle is slotted to reach commercial production in 2017. The Valley of the Kings, unlike the above porphyry-style deposits, contains extremely high-grade gold. With 15.6 million tonnes grading 16.1 g/t gold, this deposit has some of the richest ore in the world.
2. New Infrastructure
In recent years, the Golden Triangle has received three massively important infrastructure upgrades:
Paving of the Stewart-Cassiar Highway (north from Smithers)
Opening of ocean port facilities for export of concentrate at Stewart
Completion of a $700-million high-voltage transmission line to bring power into the Golden Triangle
3. Declining snow cover
Glacial ice and snow have been retreating in many parts of the region, revealing rocks never seen before by human eyes. Especially in a mineral-rich region such as the Golden Triangle, this is a very exciting prospect for mineral geologists.
4. A new geological explanation
The Golden Triangle region has complex geology that had befuddled explorers for decades—but recent work has made the picture much clearer. Geologist Jeff Kyba has put forth the following theory: Geological contact between Triassic-age Stuhini rocks and Jurassic-age Hazelton rocks is the key marker for copper-gold mineralization.
Most of the Triangle’s copper-gold deposits, whether they are large-scale porphyry and intrusion-related, are found within two kilometres of this contact. It’s been named the Red Line, and this new interpretation of the region’s geology could contribute to B.C.’s next mega deposit.
5. Gold price recovery
Since the “sleepy” days of the Golden Triangle, gold prices have increased three times, even after adjusting for inflation. Combined with new infrastructure, exciting projects and world-class mineral potential, the Golden Triangle is awake again.
What’s happening today?
Today, the Golden Triangle is buzzing with activity.
The Red Chris mine is now in operation
Valley of the Kings is entering production in 2017
KSM, the world’s largest gold deposit, is nearing potential construction
Historic mines like the Snip Mine and Granduc are being explored using modern methods
New high-grade gold is being found. Red Mountain and the old Premier gold mine are the sites of some of these discoveries
Dozens of companies are on the ground performing all phases of exploration
Many types of mineral deposits are being tested for, including high-grade gold veins, large-scale porphyries and VMS (volcanogenic massive sulphide) deposits. The Golden Triangle is once again a centre of attention and it could be poised to become one of the world’s most prolific concentrations of mineral wealth.
Posted with permission of Visual Capitalist.
See an infographic about the Golden Triangle’s mining history.
http://resourceclips.com/2017/04/06/infographic-the-re-awakening-of-the-golden-triangle/
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Rockcliff Copper reports gold, polymetallic results from its Snow Lake camp
by Greg Klein | April 6, 2017
As Phase II drilling continues, Rockcliff Copper TSXV:RCU released assays from two holes on the VMS-rich Talbot project, part of the company’s Flin Flon-Snow Lake portfolio in northern Manitoba. The company holds a 51% option on Talbot from Hudbay Minerals TSX:HBM. The standout assay drew 7.3 g/t gold and 7.49% copper-equivalent over 3.94 metres. That came from the first hole on the North Lens deep conductive plate, one of the property’s largest geophysical anomalies.
Along with assays for hole TB-015 on the North copper zone, the results show:
TB-015
0.31% copper, 0.01 g/t gold, 0.02% zinc and 0.02 g/t silver for 0.33% copper-equivalent over 8.09 metres, starting at 463.82 metres in downhole depth
(including 1.15% copper, 0.01% zinc and 0.01 g/t silver for 1.16% copper-equivalent over 0.32 metres)
TB-019
1.8% copper, 0.14 g/t gold and 20.9 g/t silver for 2.15% copper-equivalent over 0.41 metres, starting at 668.61 metres
0.24% copper, 7.3 g/t gold, 0.88% zinc and 112.5 g/t silver for 7.49% copper-equivalent over 3.94 metres, starting at 772.45 metres
(including 0.16% copper, 10.35 g/t gold, 0.23% zinc and 156.02 g/t silver for 9.94% copper-equivalent over 2.54 metres)
(which includes 0.54% copper, 77.78 g/t gold, 0.01% zinc and 1,219.5 g/t silver for 73.76% copper-equivalent over 0.32 metres)
Rockcliff Copper reports gold, polymetallic results from its Snow Lake camp
While drilling continues at Talbot, Rockcliff plans to put
rigs to work on at least three other Snow Lake properties.
True widths weren’t available.
With downhole and surface geophysics showing that conductivity strengthens below TB-019 intercepts, Rockcliff has another hole testing the plate 250 metres deeper, closer to the plate’s centre. The North copper zone also has additional drilling planned.
The news follows assays for TB-017, released in mid-February, which featured 3.48% copper-equivalent over 16.08 metres. Talbot hosts a January 2016 resource with an inferred total for three zones:
2.17 million tonnes averaging 2.8% copper, 2.4 g/t gold, 2.2% zinc and 54.6 g/t silver for 133.6 million pounds copper, 165,400 ounces gold, 107.4 million pounds zinc and 3.81 million ounces silver
Reporting on another of its Snow Lake assets, last month Rockcliff announced that a surface EM survey on its recently staked Penex zinc property found a large conductive plate below the down-dip continuation of the neighbouring historic Pen zinc deposit. The company plans further exploration prior to drilling Penex this year.
Also last month, the company began airborne and ground geophysical surveys over the Laguna gold project, a former mine where 2016 grab samples graded as high as 25 g/t and 34.77 g/t gold.
With several properties comprising its Snow Lake portfolio, Rockcliff plans drilling this year on its Bur zinc project and Rail copper-polymetallic deposit, in addition to Talbot and Penex.
http://resourceclips.com/2017/04/06/rockcliff-copper-reports-gold-polymetallic-results-from-its-snow-lake-camp/
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We all know the terrifying debt statistics. We are bombarded every day with bearish reports about the gargantuan Federal debt, and when combined with the growing private sector indebtedness, the monolithic entitlements problem, and the looming pension fund shortage, it is easy to wonder how we will ever get out of this colossal mess.
I do not dispute the numbers one bit. We have too much debt. It’s simple math. We are screwed. Full stop. All of this debt will never be paid back in real terms. Truth be told, I am probably one of the most bearish people out there when it comes to our debt problem.
But I differ greatly from the vast majority of my peers about what that means for the economy and financial markets.
There are three solutions to the problem of over-indebtedness.
The first is to grow your way out. Maybe you cut some spending, hunker down, trim up the sails, and right the ship through good old fashioned economic growth. This solution is a pipe dream left for little children and romantics. In a balance sheet challenged economy, the moment you cut spending, the paradox of thrift kicks in, and the economy rolls over. This is a lesson Japan has learned all too well over the past couple of decades. Not believing Japan’s example, the U.S. repeated the error after the credit crisis of 2008. Thinking overspending was the cause of the problem, the U.S. government (led by the Tea Party) cut discretionary spending to the bone. Remember the 2013 budget sequestration? All of that hullabaloo caused the government to shrink from 2011 to 2015.
Whoa! That doesn’t follow the typical narrative of Obama as a spendthrift fiscally irresponsible President. Didn’t Federal debt balloon under his watch? How does that work? Well, the reality is much of the spending that caused the increase in overall debt was the result of automatic stabilizers - unemployment insurance, etc… Although Obama probably wanted to spend much more, he didn’t. And this is one of the reasons the U.S. economy experienced its weakest post recession recovery. Just look at that chart above. Over the past three decades there has never been a government spending decline of that magnitude.
Now I realize many of you will probably be saying “good - that’s what’s needed. The idea of increasing spending to solve a problem of too much debt is ridiculous. The reason for the anemic recovery is that we didn’t cut enough.” Which brings me to solution number two.
In an environment of over-indebtedness, the economy will naturally try to correct through the private sector paying down debt. But over the past half dozen decades, we have been muting regular business cycle declines through overly easy monetary policies. This has encouraged too much borrowing. We have piled more and more debt on the problem. The trouble is that we have done this for so long, the consequences of allowing the cycle to play out has become catastrophic.
Have a look at the total U.S. credit outstanding (minus financial firms) over the past few decades.
See the slight leveling off in 2007? That is the horrific debt de-leveraging that caused the greatest financial crisis since the Great Depression.
So far all those economists of the Austrian ilk, I acknowledge that if the government and the Federal Reserve would allow the natural business cycle to operate, we would have debt destruction that would cause the financial system to reset. After this event, the economy would be all set to grow again. Yet this reset would make the 2008 credit crisis look like a warm up. We would have 1930’s style breadlines.
I don’t buy for one second that the public has the stomach to sit through this type of event. Maybe when the problem of over-indebtedness was smaller, we might have done it. Perhaps in the 1980’s, or maybe even the 1990’s when Greenspan first brought the irrational exuberance problem to the fore, but not today. The pain that would accompany a true debt destruction reset would be too immense. The amount of social upheaval and instability would probably mean the end of the Western world as we know it.
We can’t grow our way out the debt problem, and we certainly can’t allow it to reset through a cleansing business cycle flush, so what’s the solution?
That leaves the one tried and true solution. For thousands of years when societies have gotten in trouble with too much debt, they have solved their problem by printing their way out of it. To think the modern day situation will be any different is naive.
Yeah, sure there will be moments when governments flirt with the idea of prudent monetary and fiscal policy. But those periods will be fleeting. Faced with moribund growth and a steadily increasing debt burden, at the first sign of trouble they will quickly turn on the presses and resort to the time old tradition of inflating away their debts.
Which brings me to the end game. There are many forecasts for a 2008 style collapse. The consensus is that eventually the debt burden becomes too big to bear, and the next Great Depression rolls in.
I don’t think that is how it plays out. Most traders hedge for the previous crisis. Visions of 2008 still fill the nightmares of investors. This explains why “gurus” like Carl Icahn have long presentations where they advocate hedges that worked so well in the last crash.
continues.........
http://themacrotourist.com//macro/the-end-game
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Global debt explodes at 'eye-watering' pace to hit £170 trillion
http://www.telegraph.co.uk/business/2017/04/04/global-debt-explodes-eye-watering-pace-hit-170-trillion/
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Stalling Engines: The Outlook for U.S. Economic Growth
by John Hussman of Hussman Funds, 4/2/17
https://www.advisorperspectives.com/commentaries/2017/04/02/stalling-engines-the-outlook-for-u-s-economic-growth
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THE AUTO INDUSTRY IS ABOUT TO DRIVE OFF A CLIFF -- AGAIN!
https://matasii.com/the-auto-industry-is-about-to-drive-off-a-cliff-again/
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The Calm Before The Precious Metal Silver Storm
Posted by SRSrocco in News, Precious Metals on April 7, 2017 — 31 comments
92 8 1
There is an eerie calm in the precious metals market as investors continue to pile into the broader stock indexes. Precious metals sentiment that was flying high last year when the Dow Jones Index fell 2,000 points, is now at an all-time low. Investors who are highly fickle, have no idea that they will lose a great deal of their “supposed” paper wealth.
The word out on the street, as it pertains the precious metals retail sales market, is that investors are no longer waiting on the price of silver to fall to start buying, rather they are now waiting to see what happens to the broader markets. Speculation, is that if Trump is able to get the corporate tax cuts passed, then the Dow Jones will head up towards 25,000 or higher.
While this is a possibility, investors should realize the market is already seriously overextended. Sure, it could continue to move up, but the correct way to invest in precious metals is not to make a perfectly timed purchase when the rest of the market is crashing, rather it should be done on an ongoing basis. Investors should be purchasing metals over a period of time, not one large amount due to the timing of a market collapse.
If we look at the Dow Jones Index versus the Silver Price, we can see a very interesting trend that took place when the Fed announced QE3 back at the end of 2012: continues........
https://srsroccoreport.com/the-calm-before-the-precious-metal-silver-storm/
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Bearish Reversal in Gold and Silver
04/07/17
Jordan Roy-Byrne CMT, MFTA
Editorials
,
Featured
Precious metals ended a quiet week with quite a reversal. Gold surged above its 200-day moving average for the first time since November, only to lose the gains and then close below the 200-day moving average. Silver was already trading above its 200-day moving average before it moved higher but it then reversed strongly and even below its 200-day moving average. The miners, which have been much weaker than the metals were mostly unchanged but after opening higher. Today’s bearish reversal could signal an imminent decline in the entire complex or just signal that more time is needed before the next attempt at a breakout.
continues............
https://thedailygold.com/bearish-reversal-in-gold-and-silver/
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Gold: Reflecting the Light of the Universe
April 6, 2017 by SchiffGold
It’s important to remember gold is money, but as we focus on gold’s monetary and investment properties, it’s easy to forget the yellow metal has inherent value in and of itself with amazing practical uses.....
https://schiffgold.com/key-gold-news/gold-reflecting-light-universe/
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Breaking Down The Big News At Barrick Gold
Apr. 6.17 | About: Barrick Gold (ABX)
Gold Mining Bull
Gold Mining Bull
Long only, gold & precious metals, oil & gas, contrarian
(5,581 followers)
Summary
Barrick Gold has announced a new partnership with a Chinese gold miner, Shandong Gold.
Shandong will buy 50% of Barrick's Veladero mine, explore a joint venture on Pascua Lama, and evaluate further opportunities on the El Indio Gold belt.
I break down the deal.
Barrick Gold and Shandong Gold Partner Up
https://seekingalpha.com/article/4060777-breaking-big-news-barrick-gold/
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.jpg)
Minebot (testing) charts and pics may be delayed cause Ihub computer slow tonight
still working on this bot,
Good Morning
Hope your Having A Fine Weekend
MMGYS
minebot under construction
Equitorial Exploration closes acquisition of two western U.S. lithium properties
by Greg Klein | April 7, 2017
With the deal now complete, Equitorial Exploration TSXV:EXX builds a portfolio of lithium properties. The company picked up the Tule Valley project in Utah and the Gerlach property in Nevada by paying Umbral Energy CSE:UMB $50,000 and two million shares, as well as assuming a payment of $100,000. A 2% NSR applies to both properties.
Equitorial Exploration closes acquisition of western U.S. lithium properties
The under-explored Gerlach property might
host structural similarities to Clayton Valley.
Umbral described Tule Valley as a closed valley several kilometres south of lithium source rocks, with active groundwater flow along its western margin. The property “has been affected by evaporate-style processes,” the company stated. “Tule Valley may therefore be conducive to the presence of lithium-bearing groundwater. In this respect, Tule Valley has similar characteristics to Clayton Valley, Nevada, a dry lake bed where lithium is derived from brines located within more porous sediment layers at depth under playa.”
As for Gerlach, also known as the San Emidio project, Umbral characterized it as an under-explored closed basin “in an area structurally comparable to that of Clayton Valley, being bounded by normal faults to the east and west of the property and surrounded by volcanics such as rhyolitic flows and tuffs.”
In March Equitorial filed a 43-101 technical report for its Little Nahanni Pegmatite Group property in the Northwest Territories, a hardrock project that underwent sampling last year. This year’s LNPG program could include resampling previous core, mapping, prospecting, channel sampling and drilling.
resourceclips.com/2017/04/07/equitorial-exploration-closes-acquisition-of-western-u-s-lithium-properties/
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Infographic: The re-awakening of the Golden Triangle
by Jeff Desjardins | posted with permission of Visual Capitalist | April 6, 2017
The re-awakening of the Golden Triangle
Many years ago, a remote and mountainous region in northwestern British Columbia gained considerable attention as an emerging mineral district. With a rich mining history, one of the world’s largest silver mines (Eskay Creek, discovered in 1988) and million-ounce gold deposits, this area of incredible wealth became known as the Golden Triangle.
However, despite its obvious potential, the vast majority of land in this highly prospective region has been left mostly untouched by humans. A combination of factors, including low gold prices and a lack of infrastructure, led to the area lying dormant for decades.
Today, things are changing dramatically. The Golden Triangle is a new hotbed for mineral discovery, where over 130 million ounces of gold, 800 million ounces of silver and 40 billion pounds of copper have been found. The amazing part is that this is only scratching the surface of the region’s ultimate potential.
Skeena Resources TSXV:SKE and IDM Mining TSXV:IDM have generously helped put together the story on the re-awakening of the famed Golden Triangle.
The new gold rush
Why is the Golden Triangle at the centre of attention again? There are five main reasons:
1. New deposits found
The old adage is that the best place to find a new mine is near an existing one. Here are three major deposits in the Golden Triangle that have geologists and financiers buzzing:
KSM
Seabridge Gold’s (TSX:SEA) KSM project is the largest gold project in the world. In 2014 it received the green light from Canada’s federal government to go ahead. A porphyry-style deposit, it has reserves of 38.8 million ounces of gold, 10.2 billion pounds of copper and 183 million ounces of silver.
Red Chris
This $700-million copper and gold mine entered production in 2015. Owned by Imperial Metals TSX:III, it will be in production until 2043 based on current mine life estimates. In 2016 alone, it produced 83 million pounds of copper, 47,000 ounces of gold and 190,000 ounces of silver.
Valley of the Kings
The latest, and perhaps most interesting, discovery in the Golden Triangle is slotted to reach commercial production in 2017. The Valley of the Kings, unlike the above porphyry-style deposits, contains extremely high-grade gold. With 15.6 million tonnes grading 16.1 g/t gold, this deposit has some of the richest ore in the world.
2. New Infrastructure
In recent years, the Golden Triangle has received three massively important infrastructure upgrades:
Paving of the Stewart-Cassiar Highway (north from Smithers)
Opening of ocean port facilities for export of concentrate at Stewart
Completion of a $700-million high-voltage transmission line to bring power into the Golden Triangle
3. Declining snow cover
Glacial ice and snow have been retreating in many parts of the region, revealing rocks never seen before by human eyes. Especially in a mineral-rich region such as the Golden Triangle, this is a very exciting prospect for mineral geologists.
4. A new geological explanation
The Golden Triangle region has complex geology that had befuddled explorers for decades—but recent work has made the picture much clearer. Geologist Jeff Kyba has put forth the following theory: Geological contact between Triassic-age Stuhini rocks and Jurassic-age Hazelton rocks is the key marker for copper-gold mineralization.
Most of the Triangle’s copper-gold deposits, whether they are large-scale porphyry and intrusion-related, are found within two kilometres of this contact. It’s been named the Red Line, and this new interpretation of the region’s geology could contribute to B.C.’s next mega deposit.
5. Gold price recovery
Since the “sleepy” days of the Golden Triangle, gold prices have increased three times, even after adjusting for inflation. Combined with new infrastructure, exciting projects and world-class mineral potential, the Golden Triangle is awake again.
What’s happening today?
Today, the Golden Triangle is buzzing with activity.
The Red Chris mine is now in operation
Valley of the Kings is entering production in 2017
KSM, the world’s largest gold deposit, is nearing potential construction
Historic mines like the Snip Mine and Granduc are being explored using modern methods
New high-grade gold is being found. Red Mountain and the old Premier gold mine are the sites of some of these discoveries
Dozens of companies are on the ground performing all phases of exploration
Many types of mineral deposits are being tested for, including high-grade gold veins, large-scale porphyries and VMS (volcanogenic massive sulphide) deposits. The Golden Triangle is once again a centre of attention and it could be poised to become one of the world’s most prolific concentrations of mineral wealth.
Posted with permission of Visual Capitalist.
See an infographic about the Golden Triangle’s mining history.
http://resourceclips.com/2017/04/06/infographic-the-re-awakening-of-the-golden-triangle/
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Rockcliff Copper reports gold, polymetallic results from its Snow Lake camp
by Greg Klein | April 6, 2017
As Phase II drilling continues, Rockcliff Copper TSXV:RCU released assays from two holes on the VMS-rich Talbot project, part of the company’s Flin Flon-Snow Lake portfolio in northern Manitoba. The company holds a 51% option on Talbot from Hudbay Minerals TSX:HBM. The standout assay drew 7.3 g/t gold and 7.49% copper-equivalent over 3.94 metres. That came from the first hole on the North Lens deep conductive plate, one of the property’s largest geophysical anomalies.
Along with assays for hole TB-015 on the North copper zone, the results show:
TB-015
0.31% copper, 0.01 g/t gold, 0.02% zinc and 0.02 g/t silver for 0.33% copper-equivalent over 8.09 metres, starting at 463.82 metres in downhole depth
(including 1.15% copper, 0.01% zinc and 0.01 g/t silver for 1.16% copper-equivalent over 0.32 metres)
TB-019
1.8% copper, 0.14 g/t gold and 20.9 g/t silver for 2.15% copper-equivalent over 0.41 metres, starting at 668.61 metres
0.24% copper, 7.3 g/t gold, 0.88% zinc and 112.5 g/t silver for 7.49% copper-equivalent over 3.94 metres, starting at 772.45 metres
(including 0.16% copper, 10.35 g/t gold, 0.23% zinc and 156.02 g/t silver for 9.94% copper-equivalent over 2.54 metres)
(which includes 0.54% copper, 77.78 g/t gold, 0.01% zinc and 1,219.5 g/t silver for 73.76% copper-equivalent over 0.32 metres)
Rockcliff Copper reports gold, polymetallic results from its Snow Lake camp
While drilling continues at Talbot, Rockcliff plans to put
rigs to work on at least three other Snow Lake properties.
True widths weren’t available.
With downhole and surface geophysics showing that conductivity strengthens below TB-019 intercepts, Rockcliff has another hole testing the plate 250 metres deeper, closer to the plate’s centre. The North copper zone also has additional drilling planned.
The news follows assays for TB-017, released in mid-February, which featured 3.48% copper-equivalent over 16.08 metres. Talbot hosts a January 2016 resource with an inferred total for three zones:
2.17 million tonnes averaging 2.8% copper, 2.4 g/t gold, 2.2% zinc and 54.6 g/t silver for 133.6 million pounds copper, 165,400 ounces gold, 107.4 million pounds zinc and 3.81 million ounces silver
Reporting on another of its Snow Lake assets, last month Rockcliff announced that a surface EM survey on its recently staked Penex zinc property found a large conductive plate below the down-dip continuation of the neighbouring historic Pen zinc deposit. The company plans further exploration prior to drilling Penex this year.
Also last month, the company began airborne and ground geophysical surveys over the Laguna gold project, a former mine where 2016 grab samples graded as high as 25 g/t and 34.77 g/t gold.
With several properties comprising its Snow Lake portfolio, Rockcliff plans drilling this year on its Bur zinc project and Rail copper-polymetallic deposit, in addition to Talbot and Penex.
http://resourceclips.com/2017/04/06/rockcliff-copper-reports-gold-polymetallic-results-from-its-snow-lake-camp/
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We all know the terrifying debt statistics. We are bombarded every day with bearish reports about the gargantuan Federal debt, and when combined with the growing private sector indebtedness, the monolithic entitlements problem, and the looming pension fund shortage, it is easy to wonder how we will ever get out of this colossal mess.
I do not dispute the numbers one bit. We have too much debt. It’s simple math. We are screwed. Full stop. All of this debt will never be paid back in real terms. Truth be told, I am probably one of the most bearish people out there when it comes to our debt problem.
But I differ greatly from the vast majority of my peers about what that means for the economy and financial markets.
There are three solutions to the problem of over-indebtedness.
The first is to grow your way out. Maybe you cut some spending, hunker down, trim up the sails, and right the ship through good old fashioned economic growth. This solution is a pipe dream left for little children and romantics. In a balance sheet challenged economy, the moment you cut spending, the paradox of thrift kicks in, and the economy rolls over. This is a lesson Japan has learned all too well over the past couple of decades. Not believing Japan’s example, the U.S. repeated the error after the credit crisis of 2008. Thinking overspending was the cause of the problem, the U.S. government (led by the Tea Party) cut discretionary spending to the bone. Remember the 2013 budget sequestration? All of that hullabaloo caused the government to shrink from 2011 to 2015.
Whoa! That doesn’t follow the typical narrative of Obama as a spendthrift fiscally irresponsible President. Didn’t Federal debt balloon under his watch? How does that work? Well, the reality is much of the spending that caused the increase in overall debt was the result of automatic stabilizers - unemployment insurance, etc… Although Obama probably wanted to spend much more, he didn’t. And this is one of the reasons the U.S. economy experienced its weakest post recession recovery. Just look at that chart above. Over the past three decades there has never been a government spending decline of that magnitude.
Now I realize many of you will probably be saying “good - that’s what’s needed. The idea of increasing spending to solve a problem of too much debt is ridiculous. The reason for the anemic recovery is that we didn’t cut enough.” Which brings me to solution number two.
In an environment of over-indebtedness, the economy will naturally try to correct through the private sector paying down debt. But over the past half dozen decades, we have been muting regular business cycle declines through overly easy monetary policies. This has encouraged too much borrowing. We have piled more and more debt on the problem. The trouble is that we have done this for so long, the consequences of allowing the cycle to play out has become catastrophic.
Have a look at the total U.S. credit outstanding (minus financial firms) over the past few decades.
See the slight leveling off in 2007? That is the horrific debt de-leveraging that caused the greatest financial crisis since the Great Depression.
So far all those economists of the Austrian ilk, I acknowledge that if the government and the Federal Reserve would allow the natural business cycle to operate, we would have debt destruction that would cause the financial system to reset. After this event, the economy would be all set to grow again. Yet this reset would make the 2008 credit crisis look like a warm up. We would have 1930’s style breadlines.
I don’t buy for one second that the public has the stomach to sit through this type of event. Maybe when the problem of over-indebtedness was smaller, we might have done it. Perhaps in the 1980’s, or maybe even the 1990’s when Greenspan first brought the irrational exuberance problem to the fore, but not today. The pain that would accompany a true debt destruction reset would be too immense. The amount of social upheaval and instability would probably mean the end of the Western world as we know it.
We can’t grow our way out the debt problem, and we certainly can’t allow it to reset through a cleansing business cycle flush, so what’s the solution?
That leaves the one tried and true solution. For thousands of years when societies have gotten in trouble with too much debt, they have solved their problem by printing their way out of it. To think the modern day situation will be any different is naive.
Yeah, sure there will be moments when governments flirt with the idea of prudent monetary and fiscal policy. But those periods will be fleeting. Faced with moribund growth and a steadily increasing debt burden, at the first sign of trouble they will quickly turn on the presses and resort to the time old tradition of inflating away their debts.
Which brings me to the end game. There are many forecasts for a 2008 style collapse. The consensus is that eventually the debt burden becomes too big to bear, and the next Great Depression rolls in.
I don’t think that is how it plays out. Most traders hedge for the previous crisis. Visions of 2008 still fill the nightmares of investors. This explains why “gurus” like Carl Icahn have long presentations where they advocate hedges that worked so well in the last crash.
continues.........
http://themacrotourist.com//macro/the-end-game
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Global debt explodes at 'eye-watering' pace to hit £170 trillion
http://www.telegraph.co.uk/business/2017/04/04/global-debt-explodes-eye-watering-pace-hit-170-trillion/
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Stalling Engines: The Outlook for U.S. Economic Growth
by John Hussman of Hussman Funds, 4/2/17
https://www.advisorperspectives.com/commentaries/2017/04/02/stalling-engines-the-outlook-for-u-s-economic-growth
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THE AUTO INDUSTRY IS ABOUT TO DRIVE OFF A CLIFF -- AGAIN!
https://matasii.com/the-auto-industry-is-about-to-drive-off-a-cliff-again/
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The Calm Before The Precious Metal Silver Storm
Posted by SRSrocco in News, Precious Metals on April 7, 2017 — 31 comments
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There is an eerie calm in the precious metals market as investors continue to pile into the broader stock indexes. Precious metals sentiment that was flying high last year when the Dow Jones Index fell 2,000 points, is now at an all-time low. Investors who are highly fickle, have no idea that they will lose a great deal of their “supposed” paper wealth.
The word out on the street, as it pertains the precious metals retail sales market, is that investors are no longer waiting on the price of silver to fall to start buying, rather they are now waiting to see what happens to the broader markets. Speculation, is that if Trump is able to get the corporate tax cuts passed, then the Dow Jones will head up towards 25,000 or higher.
While this is a possibility, investors should realize the market is already seriously overextended. Sure, it could continue to move up, but the correct way to invest in precious metals is not to make a perfectly timed purchase when the rest of the market is crashing, rather it should be done on an ongoing basis. Investors should be purchasing metals over a period of time, not one large amount due to the timing of a market collapse.
If we look at the Dow Jones Index versus the Silver Price, we can see a very interesting trend that took place when the Fed announced QE3 back at the end of 2012: continues........
https://srsroccoreport.com/the-calm-before-the-precious-metal-silver-storm/
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Bearish Reversal in Gold and Silver
04/07/17
Jordan Roy-Byrne CMT, MFTA
Editorials
,
Featured
Precious metals ended a quiet week with quite a reversal. Gold surged above its 200-day moving average for the first time since November, only to lose the gains and then close below the 200-day moving average. Silver was already trading above its 200-day moving average before it moved higher but it then reversed strongly and even below its 200-day moving average. The miners, which have been much weaker than the metals were mostly unchanged but after opening higher. Today’s bearish reversal could signal an imminent decline in the entire complex or just signal that more time is needed before the next attempt at a breakout.
continues............
https://thedailygold.com/bearish-reversal-in-gold-and-silver/
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Gold: Reflecting the Light of the Universe
April 6, 2017 by SchiffGold
It’s important to remember gold is money, but as we focus on gold’s monetary and investment properties, it’s easy to forget the yellow metal has inherent value in and of itself with amazing practical uses.....
https://schiffgold.com/key-gold-news/gold-reflecting-light-universe/
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Breaking Down The Big News At Barrick Gold
Apr. 6.17 | About: Barrick Gold (ABX)
Gold Mining Bull
Gold Mining Bull
Long only, gold & precious metals, oil & gas, contrarian
(5,581 followers)
Summary
Barrick Gold has announced a new partnership with a Chinese gold miner, Shandong Gold.
Shandong will buy 50% of Barrick's Veladero mine, explore a joint venture on Pascua Lama, and evaluate further opportunities on the El Indio Gold belt.
I break down the deal.
Barrick Gold and Shandong Gold Partner Up
https://seekingalpha.com/article/4060777-breaking-big-news-barrick-gold/
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