McEwen Mining Inc (MUX)

[wshaw14]

I bought some more today.

[gandalf48ct]

some kind of wicked manipulation here....dunno what's up...but this "trading" activity is totally bogus.

[gandalf48ct]

what happened? Why is this getting killed?

[tredenwater2]

Wow, overblown is right. Look at those big blocks fire off!!! Someone is happy!

[wshaw14]

McEwen Mining: Q1 2024 Results
https://finance.yahoo.com/news/mcewen-mining-q1-2024-results-202500572.html

[wshaw14]

McEwen Mining Q1 2024 Results Conference Call
https://finance.yahoo.com/news/mcewen-mining-q1-2024-results-151400665.html

[JD400]

Argentina power supplier Central Puerto eyes stake in McEwen’s copper project
Bloomberg | May 6, 2024 | 6:47 am Latin America Copper
Two of McEwen Mining top execs step down

Central Puerto SA, Argentina’s biggest power supplier, is in talks to invest in Canadian miner McEwen Copper Inc.’s Los Azules project, according to people familiar with the matter.


After recently signing a deal for a stake in the Diablillos silver-gold project in Salta province, Central Puerto is committed to getting involved in a second mining venture, according to one person, who like others didn’t want to be named discussing private negotiations. The company is eyeing Los Azules as well as other gold and silver sites.

Los Azules, in San Juan province, is one of several Argentine copper projects in different stages of development that could turn the country into a major supplier of the wiring metal in a decade. McEwen wants to start construction of its open pit in 2026, but first it is seeking a capital injection of $130 million to keep exploration work on track.

Billionaire Eduardo Eurnekian’s group, Corporacion America SA, has also been looking at Los Azules, according to people familiar.

Central Puerto produced 15% of all of Argentina’s electricity last year, more than any other company, according to its annual report. It continues to spend on new power plants, but has also been diversifying its commodities portfolio with investments in forestry and, now, mining. About 27% of the company is owned by a handful of wealthy Argentines — Guillermo Pablo Reca and Eduardo Jose Escasany, from the banking industry, and the Miguens Bemberg family led by Carlos Jose Miguens, who already has mining interests.

The power supplier’s incursion into mining comes amid a broader push by local outfits. Recent investment activity by Argentines includes real-estate mogul Eduardo Elsztain’s purchase last month of a stake in a gold project; Jose Luis Manzano’s winning offer to revive a former Vale SA potash site, a tender in which Corporacion America also bid; and moves into lithium by three national oil drillers.

Argentina shares vast mineral resources in the Andes with Chile, the world’s biggest copper exporter. But a mix of unpredictable politics and environmental opposition has prevented Argentina from unearthing many resources on its side of the mountains.

President Javier Milei, who took office in December on a platform to open up business, is seeking legislative approval for tax, currency and customs benefits for big, long-term investments like mining projects. Milei also wanted to scale back protections for glaciers, which impede some exploration in the Andes, but scrapped the plans as part of a bid to make his aggressive reforms more palatable.

https://www.mining.com/web/argentina-power-supplier-central-puerto-eyes-stake-in-mcewens-copper-project/

Two top McEwen Mining execs step down
Cecilia Jamasmie | May 6, 2022 | 6:05 am Careers News Canada Copper Gold
Two of McEwen Mining top execs step down
The Los Azules copper project sits in the Andes Mountains at an elevation of 3,500 metres. Credit: McEwen Mining.
Canada’s McEwen Mining (TSX, NYSE: MUX) on Friday announced that two of its top suite executives were leaving the company for personal reasons.


Chief financial officer Anna Ladd-Kruger will retire to focus on her health and family, the company said. She will depart after reporting is complete and an “orderly transition” is in place.

Perry Y. Ing, former McEwen CFO who had the same role at Kirkland Lake Gold and Mountain Province Diamonds, will assume the post on an interim basis.

Chief operating officer Peter Mah is also stepping down for personal reasons effective June 3, McEwen said. His responsibilities will be assumed on an interim basis by William (Bill) Shaver, currently the company’s director.

The Toronto-based miner said that transition plans and a search for candidates for both roles are underway.

“The focus of the company going forward is on stabilizing its operations after a challenging period, divesting certain assets, and advancing our most significant value driver, the giant Los Azules copper project,” McEwen said in a statement.

https://www.mining.com/two-of-mcewen-mining-top-execs-step-down/

[tredenwater2]

No shares down here, when will the MM’s move this up? Up $1, down .75 isnt shaking the tree like it use to, time to get this into the $13-$15 range imo or $1.30-$1.50 range for us patient longs.

[wshaw14]

Top 5 Copper Stocks on the TSX in 2024
https://www.msn.com/en-us/money/markets/top-5-copper-stocks-on-the-tsx-in-2024/ar-AA1nXZo7

[JD400]

Fascinating interview with Steve de Jong on Kitco

A decade of pain and three months of 'beautiful times' - Steve de Jong on mining's long cycles

Apr 23, 2024 Kitco Mining Interviews
Resource investors are living in the "best environment", noted Steve de Jong, CEO of VRIFY.

Last week Jeremy Szafron, anchor at Kitco News, interviewed de Jong.

De Jong discussed the impacts of high commodity prices on mining equities, the complexities surrounding mining permits, and potential increases in mergers and acquisitions.

The metal sector has been on an upswing with gold hitting several all-time highs in 2024 and copper prices rallying. De Jong noted that the cycles are long.

"Those of us been in the sector for enough years...you get three months of beautiful times and then 9 3/4 years of absolute pain," said de Jong. "Last year was just another one of those years. I'm an internal optimist. You have to be in this sector, but seeing these commodity prices take off...you hear a lot of chatter about how come the equities aren't reacting to the commodity prices. To me that's the best environment in the world because that is your opportunity. The upside is shrinking by the moment," said de Jong.

VRIFY is a technology platform that helps resource companies present their businesses. VRIFY, which is based in Vancouver, serves over 130 clients across 70 countries, including mineral exploration companies Southern Cross Gold and Integra Resources, as well as major mining companies Teck and Kinross Gold. Last year the company announced a $6 million series-A raise.

Prior to VRIFY, de Jong was president and CEO of Integra Gold, a Quebec-focused resource exploration company focused on advancing the Lamaque Gold Project. De Jong led the business from a C$10 million valuation in 2012 to a C$590 million acquisition by Eldorado Gold Corporation in 2017. The Lamaque Gold Project is now a fully operational mine which produces approximately 200,000 ounces of gold per year and employs more than 400 people from the local community.

The conversation also covered how technological advancements are reshaping exploration and investment within the mining industry, offering insights into the macro-outlook for 2024 amid rising metal prices and evolving market dynamics.

0:00 - Introduction and State of the Mining Sector
02:15 - High Commodity Prices and Their Impact on Equities
04:07 - Retail Interest and Investment Trends in Mining
06:01 - Permitting Risks and Political Impacts on Mining
08:06 - Technological Advancements and Efficiency in Mining
10:21 - The Future of Mining Exploration with AI and Tech
13:06 - Mergers and Acquisitions: Current Landscape and Predictions
16:28 - Closing Remarks and Outlook for 2024

[JD400]

Might Be Tred $MUX 10.80 -11.80 "Kick a buck"

Looking into the trading pits today it looks like were dealing with some blue whale buyers

hehe

[tredenwater2]

MM’s are working overtime to extract shares without raising the price. Whats it going to take to get this stock into “fair” territory. We are still at the bottom of our range with copper being all the new rage and gold over $2300.

I guess the big boyz have to get theirs first. Nice sleeper stock

[JD400]

The journey towards emission reduction and net-zero targets in the mining sector

Navigating net zero: can miners meet their emission reduction targets?

Many major miners have set net-zero targets for 2050 but some are unlikely to meet their ambitious interim targets. We look at progress and challenges on mining’s decarbonisation journey.

Kit Million Ross
April 19, 2024

with MMGYS Soundtrack

With climate change on everyone’s mind, emission reduction targets have become a major focus of every sector, but especially within the mining industry. The world’s biggest mining companies have set their sights on ambitious net-zero targets by 2050. However, as the deadline draws ever closer, concerns have arisen regarding the progress of these plans, with some companies even admitting they will likely miss short-term targets.

When added to reports of challenges around transparent and accurate reporting, especially with scope 3 emissions, the industry finds itself at a critical juncture, grappling with the need to balance environmental responsibility with profit and efficient operation.

Here we delve into the landscape of emission reduction efforts within the mining sector, assessing the status of companies’ targets, identifying the challenges facing the industry, and exploring the measures being undertaken to decarbonise operations. It’s time we answered the question: what steps must we take to hit net-zero targets by 2050?

While many companies have made commendable strides towards their emission reduction targets, recent reports suggest that some companies may fall short of their interim targets set for 2025.

Mining companies’ progress toward net-zero targets

Numerous industry giants have pledged to achieve net-zero emissions by 2050, signalling a collective commitment to mitigating climate impact. However, while many companies have made commendable strides towards their emission reduction targets, recent reports suggest that some companies may fall short of their interim targets set for 2025. This discrepancy underscores the complexities inherent in transitioning towards sustainable practices within a traditionally carbon-intensive industry.

However, it is important to take this with the relevant context in mind; the target itself is ambitious, aligning with the UN’s stretch goal of limiting warming to 1.5°C, and compared with other mining companies, Rio Tinto has a much higher percentage of its emissions coming from processing. Around 80% of Rio Tinto’s emissions come from processing, according to its 2023 climate change report, and processing is much harder to abate than other mining areas such as transport or sorting.

BHP has also set ambitious targets for its emissions reductions across all scopes, with a target of a 30% decrease in scope 1 and 2 emissions from 2020 levels by 2030, and a goal of net-zero operational emissions by 2050. However, there is one concerning factor hidden in the small print of BHP’s decarbonisation strategy: the company counts carbon credits in calculating its overall emissions.

Carbon credits, also known as carbon offsets, are a way of mitigating or offsetting the impact of one’s emissions by investing in climate protection projects such as planting trees. They have become wildly popular among major companies, particularly in hard-to-abate sectors such as mining – BHP is far from the only mining company to use them – but many environmental activists have criticised the use of carbon credits as a greenwashing tactic.

Many consider carbon credits as being a ‘free pass’ that allows polluting industries to appear to tackle their emissions while functionally doing nothing, and while this debate could fill an entire article by itself, it does lead well into another question: are companies being upfront enough about how they report their emissions?

The challenges of transparency in reporting emissions

Transparency in reporting remains a huge concern surrounding the mining sector’s emission reduction efforts. While many, if not all, of the major players have set ambitious targets for lowering their emissions, the lack of standardised reporting frameworks and inconsistencies in data disclosure pose a significant problem as the industry tries to assess its progress accurately. Put simply, the issue is this: how can the industry do better if we don’t know where we are starting from?

It is clear that the reduction of scope 3 emissions is key to mitigating climate change, but it is easy for companies to view this challenge as “someone else’s problem”.

The International Council of Metals and Minerals (ICMM) is working to improve reporting standards among its members, particularly in regards to scope 3 emissions, which are regarded as some of the hardest to track. In December 2023, the ICMM released a document entitled Scope 3 Emissions Target Setting Guidance to assist decision makers at its member companies – who collectively represent a third of the global metals and mining industry – in setting clear, standardised targets for the reduction of scope 3 emissions.

The guidance laid out in this document is long and complex, and the application of it will vary between individual mining companies and operations. However, alongside a more detailed document published in September 2023, it is useful in providing a framework.

It is clear that the reduction of scope 3 emissions is key to mitigating climate change, but it is easy for companies to view this challenge as “someone else’s problem”.

As Rohitesh Dhawan, president and CEO of ICMM, said in an article published by the World Economic Forum: “A company or indeed an entire sector could wring its hands at the emissions outside of its control and make it someone else’s problem – which, technically, it is. But collectively, we would lose the climate change war because total emissions would continue to rise unsustainably.”

He added that collaboration between different parts of the value chain is key to reducing scope 3 emissions, calling this a “far better approach” to decarbonisation than solo efforts, noting that a collaborative approach “makes climate sense, and it increasingly makes business sense, too”.

However, it is worth taking this progress with a pinch of salt, and consider the context of this development. While ICMM members are required to have set short and medium-term goals for the reduction of scope 1 and 2 emissions, there is no such requirement for scope 3 emissions, meaning that for the time being, major mining companies have more opportunity to look the other way when it comes to these kinds of emissions.

Increased pressure from the ICMM, as well as increased pressure from government representatives, is a key factor in reducing scope 3 emissions and their immense harm to the climate.

Can we make it?

The journey towards emission reduction and net-zero targets in the mining sector is one of slow, steady progress and significant challenges. While many companies have taken huge strides towards their sustainability goals, concerns surrounding reporting transparency and the slow pace of change persist.

By embracing innovation, collaboration and regulatory support, the industry is poised to overcome these hurdles and pave the way towards a more sustainable future. As we navigate the path towards 2050 net-zero targets, the importance of collective action and genuine commitment to emissions reductions has never been more visible.

Only through concerted efforts and shared determination can the mining sector realise its potential as a driving force for positive change in the fight against climate change.

https://www.mining-technology.com/features/navigating-net-zero-can-miners-meet-emission-reduction-targets/

Saved by zero extended mix

[JD400]

Copper demand to boom as new technology drives power consumption, Trafigura says

with MMGYS Soundtrack

Reuters | April 22, 2024 | 5:31 am Intelligence Markets Copper

Flourishing activity in the electric vehicle, power infrastructure, AI and automation sectors will lead to at least 10 million metric tons of additional copper consumption over the next decade, commodity trader Trafigura told Reuters.


Technological developments such as artificial intelligence and automation, and the energy transition, which includes electric vehicles and renewable energy, have already driven up demand prospects for copper cable used to conduct electricity.

Estimates of new demand from these applications vary, but Graeme Train, head of metals analysis at Swiss-based Trafigura, said one third of the 10 million tons of new demand would come from the electric vehicle sector.

“A third is electricity generation, transmission and distribution, and the rest is for things like automation, manufacturing capex and cooling systems within data centres,” he said. Growth in data centres is related to AI.

Accelerating production of electric vehicles, solar panels and grid investment in China, and a pick-up in manufacturing activity in the top consumer, has already boosted demand for copper used in the power and construction industries.

That combined with tight supplies of refined copper metal and concentrate has propelled copper on the London Metal Exchange (LME) to two-year peaks near $10,000 a ton.

Copper industry sources say part of the reason for the price surge are sliding stocks in LME registered warehouses, which at 121,200 tonnes have dropped more than 35% since October last year.

Tight supplies of mined copper or concentrate, the feedstock for copper metal, due to disruptions such as the closure of First Quantum’s Cobre mine in Panama last year have also helped fuel copper’s upward price momentum this year.

Analysts have been revising their forecasts of the copper market balance since in December when Anglo American also cut its production guidance, and some now expect significant shortages in the copper market estimated at around 26 million tonnes this year.

Train expects copper demand to be bolstered by industrialization and urbanization in the emerging world, particularly in India where consumption per person per year is only half a kg.

In China and the developed world, per capita copper consumption is 10 kgs and seven kgs respectively, he said.

(By Pratima Desai; Editing by Jan Harvey)
https://www.mining.com/web/copper-demand-to-boom-as-new-technology-drives-power-consumption-trafigura-says/

Humans Not Needed (Artificial Intelligence Composed Music | Beatles Inspired Pop Song)

Go $MUX...............
.....Go Green.....................
..........Go McEwen Copper............

[tredenwater2]

Appears on the surface that shares are getting harder and harder to shake out. .20 - .75 cent moves. Time to let it rain.

[wshaw14]

McEwen Mining Acquires Timberline To 'Unlock Synergies' In Nevada Gold Operations
https://www.msn.com/en-us/money/markets/mcewen-mining-acquires-timberline-to-unlock-synergies-in-nevada-gold-operations/ar-BB1lNuqj

[JD400]

McEwen Mining Announces Friendly Acquisition of Timberline Resources
April 16, 2024

TORONTO, April 16, 2024 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE: MUX)(TSX: MUX) (“McEwen”) is pleased to announce that it has entered into a definitive agreement and plan of merger (the “Agreement”) to acquire all of the issued and outstanding shares of Timberline Resources Corporation (TSXV:TBR)(OTCQB:TLRS) (“Timberline”) by way of a merger between Timberline and a subsidiary of McEwen (the “Transaction”). The Transaction will augment McEwen’s existing portfolio of development and exploration projects in Nevada.

Timberline shareholders will have the right to receive 0.01 of a share of McEwen’s common stock for each share of Timberline’s common stock (the “Exchange Ratio”), representing a value of US$0.102 per Timberline share, calculated based on the 20-day volume weighted average trading price of McEwen’s shares on the NYSE at the close on April 15th, 2024. This represents an 132% premium to Timberline’s 20-day volume-weighted average price on the OTCQB. McEwen currently owns 6.25 million Timberline shares representing approximately 3.3% of Timberline’s basic common shares outstanding and 6.25 million Timberline warrants. Excluding McEwen’s existing ownership, McEwen expects to issue approximately 1.84 million shares on closing for a transaction value of US$18.8 million.

The closing of the Transaction is subject to customary conditions, including receipt of necessary regulatory and stock exchange approvals and approval from Timberline’s shareholders holding a majority of its outstanding shares.

Timberline’s board of directors has unanimously recommended that Timberline’s shareholders vote in favour of the Transaction. The directors, officers and two principal shareholders of Timberline, holding shares reflecting approximately 40% of Timberline's aggregate outstanding shares, have entered into voting and support agreements with McEwen, pursuant to which they have agreed, among other things, to vote their shares in favour of the Transaction.

The Agreement includes customary deal-protection provisions. Timberline has agreed not to solicit or initiate any discussion regarding any other business combination or acquisition. In the event that Timberline validly terminates the Agreement to accept a superior offer, Timberline will be required to pay McEwen a termination fee of US$400,000.

Each Timberline warrant outstanding immediately prior to the closing of the Transaction will remain outstanding and be converted into a warrant to acquire McEwen shares based on the Exchange Ratio. Each Timberline stock option outstanding and in-the-money immediately prior to the closing of the Transaction will automatically vest and be converted into the right to receive McEwen shares at the Exchange Ratio less the exercise price per stock option; all other outstanding Timberline stock options will be cancelled.
https://www.mcewenmining.com/investor-relations/press-releases/press-release-details/2024/McEwen-Mining-Announces-Friendly-Acquisition-of-Timberline-Resources/default.aspx

................................
$MUX McEwen Mining Rolls in Timberline Resources

Lets take a quick glance of the property in this 2019 video

Timberline Resources advancing district-scale Gold and Copper Exploration and Development Projects

Mar 27, 2019
Timberline Resources is a mineral exploration company focused on gold and copper discoveries in north-central Nevada, USA

Timberline's district-scale Elder Creek-Paiute and Eureka properties are located within the prolific Battle Mountain-Eureka Trend, one of Nevada’s world class mineral belts with active multi-million ounce gold, and copper-gold mines.

Elder Creek / Paiute Projects - Battle Mountain Mining District
- Copper-Molybdenite-Gold-Silver discovery
- Partnerships with Barrick Gold and McEwen Mining subsidiaries
- Follow-up offset drilling of discovery hole to target a strong geophysical anomaly

Eureka Gold Project, Eureka District
- Gold discovery in a 5 km drill-defined trend
- NI 43-101 gold resource of 508,000 oz (M&I), 141,000 oz (Inf); open in all directions
- Priority exploration of an adjacent, higher-grade, geophysically-defined gold zone

[JD400]

$MUX McEwen Mining to buy remaining stake in Timberline Resources
Reuters | April 16, 2024 | 9:55 am Markets Canada USA Copper Gold

Talapoosa gold project in western Nevada, 45 km east of Reno. Credit: Timberline Resources
Canadian miner McEwen Mining entered into a deal to acquire all outstanding shares of Timberline Resources that it doesn’t already own, the companies said on Tuesday.

McEwen currently owns 6.25 million Timberline shares, or around 3.3% of the company, along with 6.25 million warrants.

Excluding existing ownership, McEwen, which has operations in Nevada, Canada, Mexico and Argentina, expects to issue around 1.84 million shares on closing for a transaction value of $18.8 million.

Timberline shareholders will receive 0.01 of a share of McEwen’s common stock for each Timberline share held, representing a value of $0.102 per Timberline share, or a premium of 132%, the companies said.

Timberline Resources, a Nevada based exploration company focused on gold and copper discoveries, would be required to pay McEwen a termination fee of $400,000 if it terminates the agreement.

(By Seher Dareen; Editing by Shailesh Kuber)

https://www.mining.com/web/mcewen-mining-announces-deal-to-buy-remaining-shares-of-timberline-resources/

[tredenwater2]

Very nice snapshot of the mineral industry JD. Seems like those speaking about copper talk in the millions of pounds and Rob speaks magnitudes more in the billions of lbs. quite the difference.

Thanks again

Tred

[JD400]

Digging Deeper: Exploring the Depths of Mining

Streamed live 10 hours ago #Mining #Benzinga
Digging Deeper: Exploring the Depths of Mining is a can’t miss event that explores the depths of innovation with the mining industry. Join us for a captivating journey as we navigate through the transformative landscape, discovering the latest technologies, sustainable practices, and strategies propelling mining into a new era.

Patricia Mohr, Economist & Commodity Market Specialist & Former VP at Scotiabank | Mohr & Co. Critical Metals Inc.

Rick Rule, Founder, President & CEO - Rule Investment Media LLC.
https://www.ruleinvestmentmedia.com

Alex Wylie, CEO - Volt Lithium Corp.
https://voltlithium.com/

Warwick Smith, CEO & Director - American Pacific
https://americanpacificmining.com/

Stephen Rentschler, CEO - Nevada Lithium
https://nevadalithium.com/
(CSE: NVLH) (OTCQB: NVLHF) (FSE: 87K)

Rob McEwen, Chairman & Chief Owner - McEwen Mining
https://www.mcewenmining.com/

Luke Norman, Executive Chairman & Co-Founder - US Gold Corp
https://www.usgoldcorp.gold/
(NASDAQ: USAU)

[JD400]

Copper is entering a new bull market phase, Citi says
Bloomberg News | April 9, 2024 | 4:40 am Intelligence Markets China Copper

with MMGYS Soundtrack

Copper has entered its second secular bull market this century, Citi analysts said, as the metal traded near a 15-month high.


Prices have risen over 10% this year as disruptions at major mines threaten refined metal production at the Chinese plants that account for more than half the world’s supply. The Federal Reserve’s expected pivot this year to easier monetary policy is also brightening the outlook for the global economy.

Still, China is grappling with a prolonged property crisis and sagging consumer confidence. The country’s smelters, which produce more than half the world’s refined copper, are considering output cuts after processing fees fell near zero.


“Copper’s second secular bull market this century is being driven by booming decarbonisation-related demand growth,” the Citi analysts wrote in a note. “Only higher prices will solve these deficits.”

During copper’s bull market of the 2000s, prices rose more than five-fold in three years, driven by urbanization and industrialization in China. Citi recommends corporate consumers hedge their copper exposures, because there is potential for “explosive price upside” again over the next three years.

Prices briefly dipped in the London morning, before recovering, as LME data showed inventories jump by the most since September. Copper was up 0.4% to $9,449.00 a ton on the London Metal Exchange as of 11:04 a.m. in London, after prices hit $9,484.50 a ton on Monday, the highest since January 2023.

Other base metals were higher, with zinc rising 1.4% as Chinese output faces risks due to a collapse in treatment charges at smelters.
https://www.mining.com/web/copper-is-entering-a-new-bull-market-phase-citi-says/

Little Feat - Let It Roll

[tredenwater2]

Time to go UP!!! $1.10 is nice but still dirt cheap.

[JD400]

Chinese Copper Demand Lifting All Boats

Copper miners glimpse the future they’ve long seen coming
Bloomberg News | April 5, 2024 | 7:50 am Intelligence Markets Top Companies China Latin America Copper

with MMGYS Soundtrack

Chile's mining production up 7.7% in February

For much of the past decade, there’s been a widely accepted orthodoxy in the mining industry that copper is the place to be.


Its champions have pointed to a likely explosion in demand as the global economy electrifies and decarbonizes, while fresh supply has looked increasingly scarce.


Instead, the metal has largely been overshadowed by old-industry stalwarts such as iron ore and coal, which have driven record profits for mining’s biggest names in recent years.

Yet a supply shock and growing confidence in an economic recovery are now seeing copper take center stage.


Production concerns have been fueled by Panama’s order late last year to shut a giant First Quantum Minerals Ltd. mine, removing roughly 400,000 tons of the metal from the world’s annual supply.

Behemoth Anglo American Plc then stunned investors by saying it was scaling back output by about 200,000 tons.

The market initially shrugged off these cuts as consumption looked anemic. But that’s changing as manufacturing — perhaps the most important demand metric for copper — shows signs of picking up almost everywhere.

In China, the official manufacturing purchasing managers’ index expanded in March for the first time since September, while preliminary data from India points to some of the strongest growth for the industry in years.

That’s catapulted the commodity to the highest prices in more than a year, up almost 9% so far in 2024.

While metal markets often move in tandem — with Chinese demand lifting all the boats — at the moment that’s not the case. Iron ore remains under pressure, while coal continues to slide.

That’s allowed the pure-play copper producers to lure investors who have cooled on the large, diversified miners — whose profits are dominated by iron ore.

Copper specialist Antofagasta Plc has gained almost 30% this year, while Freeport-McMoRan Inc. is up about 15%. By contrast, mining’s biggest names — BHP Group Ltd. and Rio Tinto Group — are both down around 14%.

(By Thomas Biesheuvel)
https://www.mining.com/web/copper-miners-glimpse-the-future-theyve-long-seen-coming/

Go $MUX.........
......Go Green.............
...........Go McEwen Copper......

[JD400]

The mining community is coming together!

This year, many individuals are showing support for Save Canadian Mining specifically. We are starting to make some real noise, but there is still much more work that needs to be done to stop predatory short selling in the Canadian junior mining industry.

[tredenwater2]

Wow! I didnt see the morning volume but I did hear that giant sucking sound as the algo machine was turned on. Talk about “deadheading”. Seems there are not very many shares up for sale, no?

[tredenwater2]

JD Im shocked that there are NOT stock gurus who have 700-800 followers that showed up and posted right before the rally like nostradamus. Not saying I welcome it but I see it time and again as if they get the “wink and nod” of which fund is going to buy in finally on a stock that has been under intense pressure.

Any way, a breath of fresh air reaching $1.08 again!

Tred

[JD400]

Gold price shatters new records as Mideast tensions add to bullish mix
Reuters | April 2, 2024 | 3:36 pm Intelligence Markets USA Gold

with MMGYS Soundtrack

Gold scaled yet another record peak on Tuesday as traders snapped up the safe haven asset amid growing Middle East tensions, largely ignoring a stronger dollar and tempered bets for US rate cuts.


Spot gold was up 0.8% at $2,268.44 per ounce by 2:07 p.m. EDT (1807 GMT), after hitting an all-time high of $2,276.89.



US gold futures settled 1.1% higher at $2,281.8.

“We’re seeing some safe-haven demand flowing into gold, which relates to the Israeli strikes on Iran’s embassy in Syria,” said Daniel Ghali, commodity strategist at TD Securities.

The latest leg up in gold prices is probably also associated with short covering from family offices and proprietary trading shops, Ghali added.

Iran vowed to take revenge on Israel for an airstrike on the Iranian embassy compound in Damascus.

Saxo Bank’s Ole Hansen said an underlying bid from retail and central banks was being joined by momentum-following speculators who have extended their already elevated longs following gold’s break above $2,200.

The mix of bullish tailwinds has driven bullion nearly 10% higher so far this year.

“What makes the gold rally so unusual is that it is occurring despite significant traditional headwinds with the US dollar rising, Treasury yields rising, the likelihood of higher for longer US rates increasing,” said independent analyst Ross Norman.

The dollar jumped after Monday’s data showed US manufacturing grew for the first time in 1-1/2 years in March.

Traders pared bets of a June interest rate cut to 58% versus around 60% before the data, which under normal circumstances, would pressure zero-yield bullion.

But while the gold market remains in a “highly bullish mood”, it probably needs to consolidate amid a shift back to a more hawkish view of Federal Reserve policy, said Tai Wong, a New York-based independent metals trader.

Silver rose 3.2% to $25.89 per ounce, platinum added 2.4% to $923.00 and palladium climbed 0.1% to $996.88.

(By Anjana Anil, Brijesh Patel and Polina Devitt; Editing by Emelia Sithole-Matarise and Vijay Kishore)
https://www.mining.com/web/gold-shatters-new-records-as-mideast-tensions-add-to-bullish-mix/

The Muskrat down by the river says if we break $17 we will see $50 in two years and should we see 50 it will run to $95 two years after that .
That's the way these top-tier large deposits stocks run,
Then he went back to chewing on a cattail.

[wshaw14]

Thanks JD. Great interview.

[JD400]

$MUX McEwen Mining's Stock Soars. Exclusive Interview with Rob McEwen.

Mar 30, 2024 NASHVILLE
McEwen Mining has soared 71% in share price since announcing outstanding results on Feb. 29, 2024. We'll be talking about how the company doubled their revenue in the 4th quarter of 2023 and the development progress of McEwen Copper with McEwen Mining's Chairman and Chief Owner Rob McEwen. As you might have heard, copper is essential to electric cars, solar, wind and computers, and is one of the most important commodities of the future. (Learn more in our Copper blog. Link below.)

https://www.nataliepace.com/blog/copp...

Here are a few things that Natalie Pace will ask Rob McEwen about in this free videoconference.

McEwen’s Huge Share Price Surge After Announcing 4Q 2023 Earnings
What Lies Ahead for 2024?

Los Azules Copper Mine Timeline

Challenges of Development to Production

The World’s 1st Regenerative Copper Mine

Gold and Silver Prices. Where are they headed?

Copper Prices? Back to 2021 highs, or down to 2008 lows?

Is McEwen Mining Undervalued?


Be sure to share this videoconference with your friends. It is available as a podcast on Substack, Apple & Spotify. (Check out the links below.)

https://nataliepace.substack.com/

https://podcasts.apple.com/us/podcast...

https://open.spotify.com/show/3m8TpT9...

Here are links to some of the web pages that are mentioned in this videoconference, as well as other important sustainability resources.

The World's 1st Regenerative Copper Mine (video)


• McEwen Copper Los Azules Jason McLenn...

http://www.nataliepace.com/

Copper Blog
https://www.nataliepace.com/blog/copp...

https://www.amazon.com/dp/B09GN6G4KL

https://www.nataliepace.com/retreat20...

https://earthgratitude.org/
https://www.amazon.com/dp/B09VFVBGRS
http://www.nataliepace.com/

[JD400]

The Billion Dollar Class Action To Stop Naked Short Selling In Canada

AGORACOM IR

Mar 29, 2024
Naked Short Selling has cost Canadian junior mining companies $40 Billion - and that number balloons to over $500 Billion when you include all Canadian small cap companies - according to Terry Lynch.

Terry Lynch is the CEO of Power Nickel and the co-Founder of "Save Canadian Mining", the small cap stock advocacy group backed by industry giants such as Eric Sprott, Keith Neumayer, Robert McEwen and multiple sponsors who have worked tirelessly and given generously over the last 4 years to conduct research, create reports and meet with key government officials & regulatory bodies … for the singular purpose of putting an end to the devastating practice of illegal short selling in the Canadian small cap market.

BLACK FRIDAY

A few months back on Black Friday, the team behind Terry grew even bigger and better with the addition of Wes Christian and David Wenger to host a live webcast discussing the problem at greater depth, including new case law that opened the door to holding Broker-Dealers liable for failing to fulfill their "Gatekeeping Responsibilities" of monitoring client trading actions.

Over 1,500 small cap companies and industry participants were in attendance, further demonstrating the gravity of this potential existential threat to Canadian small caps.

GOOD FRIDAY

If that Black Friday webcast was the low point of frustration, anger and despair in the small cap world, today’s Good Friday video is the good news turnaround point (dare we say resurrection?) because Terry and his team have not only discovered the shocking mechanism to facilitate the firehose of naked short selling - but along with it the specific actions now required to be taken by the small cap industry to stop it, including a mass grassroots publicity campaign culminating in a Billion Dollar class action lawsuit.

POLITICIANS WILL GET WEEKS NOT MONTHS

Save Canadian Mining plans to present this new and final evidence to the Doug Ford administration in order to give them the opportunity to act. But when asked how much time SCM will wait for concrete action Lynch responded “Weeks Not Months”.

Lynch added “I want Doug Ford to be the hero. But they have to wake up because we are not waiting”

THE BILLION DOLLAR CLASS ACTION LAWSUIT

In the meantime, the march towards the Billion Dollar class action lawsuit has begun and will not stop. Lynch wouldn’t provide the names of specific targets for strategic reasons but he discusses why just 10 companies will be needed to begin the class action (3 are already confirmed) and how companies can contact him to round out the slate.

THE PLAN TO MOBILIZE OVER 1,000 SMALL CAPS AND THEIR INVESTORS

While the class action ramps up, we have put together a plan to mobilize over 1,000 small cap companies and their investors with collateral that has already been drafted and only requires company specific personalization including:

- Letter to shareholders
- Press release
- Social media posts for all platforms for companies AND shareholders

The goal? 100,000 posts

Thank you for now taking the time to watch this video and please be sure to share it with your networks across all of your social media platforms.

[JD400]

Thanks Tred Not everyone can do what we do 😃

Column: Funds stampede into copper as price breaks higher

Reuters | March 27, 2024 | 8:54 am Intelligence Markets China Europe Copper

with MMGYS Soundtrack

"It ain't a easy job"

Clearly, plenty of fund managers are buying into the change of narrative but whether others will join them depends on whether copper can consolidate its chart gains.

The most recent COTRs capture the build in long positions just before copper peaked above $9,000 per ton. Much of the money entering the market was likely reacting to the chart break and the resulting upwards price momentum.

LME three-month copper has since retraced all the way to a current $8,860 per ton, a key technical level that acted as resistance in the previous year-long trading range and which, bulls hope, will now provide support for a new higher range.

If that resistance-turned-support thesis holds, heavier-weight money may well follow the shorter-term technical funds into the market. If, however, copper can’t hold its gains and falls back into the old range, some of its new fund friends may disappear as quickly as they came.

Check out the full read with charts here
https://www.mining.com/web/column-funds-stampede-into-copper-as-price-breaks-higher/

best to keep eyes on them copper cats !!!

[wshaw14]

Wall Street Analysts Predict a 26.17% Upside in McEwen Mining (MUX): Here's What You Should Know
https://www.zacks.com/stock/news/2244068/wall-street-analysts-predict-a-2617-upside-in-mcewen-mining-mux-heres-what-you-should-know?art_rec=quote-stock_overview-zacks_news-ID01-txt-2244068

[tredenwater2]

Also a shout to you wshaw, the only other poster here, lol, for bringing value to the table. Amazing the lack of following of a stock with such an amazing potential.

Tred

[tredenwater2]

Thank you JD for all you do to keep us alive here in MUX land during the “down drafts”. Some very patient buyers finally showing their true interest in this stock….once it re reached a convenient buy in level of $6.

Cheers

Tred

[wshaw14]

Wall Street Analysts Predict a 26.17% Upside in McEwen Mining (MUX): Here's What You Should Know
https://finance.yahoo.com/news/wall-street-analysts-predict-26-135508459.html

[wshaw14]

The Mining Industry Has To Go Out And Look For New Doors For Capital – Rob McEwen | PDAC 2024
https://nai500.com/blog/2024/03/new-doors-for-capital-for-mining-rob-mcewen-pdac-2024/

[JD400]

Gold hits fifth record high in March on Fed rate-cut view
By Sherin Elizabeth Varghese
March 21, 20243:49 AM MSTUpdated 19 min ago

with MMGYS Soundtrack

Summary

Gold hits all-time high of $2,222.39 per ounce
Dollar slips to 1-week low after Fed verdict
Fed stands pat on rates and view on 2024 cuts

March 21 (Reuters) - Gold prices on Thursday hit record highs for the fifth time this month after the U.S. Federal Reserve signalled it would press ahead with three rate cuts in 2024 despite elevated inflation.

Spot gold was up 1.1% at $2,209.65 per ounce at 1035 GMT after hitting an all-time high of $2,222.39 earlier in the session. U.S. gold futures soared 2.4% to $2,212.40.
"The rally was started by yesterday's Federal Reserve comments, basically confirming their intention to eventually start cutting U.S. interest rates," said Julius Baer analyst Carsten Menke.

"The mood in the gold futures market is very bullish. So your hedge funds or any other short-term traders or trend followers are positioned for higher prices, and I think this is the segment that is in the driving seat while the physical gold market is rather soft."
Despite recent high inflation readings, Fed chair Jerome Powell said the U.S. central bank is still likely to reduce interest rates by three-quarters of a percentage point by the end of 2024, but that it also depends on further economic data.

Fed funds futures traders are now pricing in a 74% probability that the Fed will begin cutting rates in June, up from 60% before the rate decision, according to the CME Group's FedWatch Tool.
The dollar slipped to a one-week low against its rivals, while benchmark U.S. 10-year Treasury yields also dipped.
Lower interest rates decrease the opportunity cost of holding non-yielding bullion and weigh on the dollar, making greenback-priced bullion more appealing for other currency holders.
Spot gold may retest resistance at $2,222 per ounce, a break above which could lead to a gain into the $2,228-$2,234 range, according to Reuters' technical analyst Wang Tao.
Spot silver fell 0.4% to $25.51 per ounce, platinum rose 0.6% to $912.10 and palladium dropped 0.9% to $1,012.22.
https://www.reuters.com/markets/commodities/gold-sprints-record-high-fed-sticks-2024-rate-cut-view-2024-03-21/



This post dedicated to JW@KSC

[wshaw14]

https://s21.q4cdn.com/390685383/files/doc_presentations/mcewen_presentation.pdf

[JD400]

Precious & base metals supply crunch coming

Gold & Silver supply shortage imminent? Feat. Rob Kientz - LFTV Ep 164

Mar 15, 2024
In this week’s episode of Live from the Vault, Andrew Maguire is joined once more by Rob Kientz of GoldSilverPros, who reveals the trade secrets he just picked up at a major industry event in Canada.

The precious metals experts discuss how a gold and silver supply shortage may coincide with an economic downturn and how investors can prepare for coming challenges by switching to sound money.

Check out Rob: https://www.youtube.com/c/GoldSilverPros

Ask your questions for Andy here: https://forum.kinesis.money/forums/qu...

Timestamps:
00:00 Start
03:30 Rob’s talk at Prospector Developer Association Canada (PDAC)
08:00 Precious & base metals supply crunch coming
22:30 Will true prices emerge?
32:00 The paper game is done
46:30 Sound money movement in the US

[JD400]

$MUX 7 Month High So Hot I Think I'm Going To Burst Into Flames !!!!!

I told myself I wasn't going to play any Robin Williams or Wolfman Jack videos until $MUX broke over $10.00

OK But Just this once.........

Good Morning 😃


Go $MUX.......
.....Go Green...........
Go McEwen Copper...........

[JD400]

$MUX CU Copper prices soared on Wednesday to their highest in seven months


Copper price soars to 7-month high on China’s plans to cut output
Staff Writer | March 13, 2024 | 9:29 am Markets China Copper
with MMGYS Soundtrack

China copper smelters raise Q4 treatment charge floor ahead of miner talks

Copper prices soared on Wednesday to their highest in seven months after Chinese smelters, which process half of the world’s mined copper, agreed on a joint production cut.


Benchmark three-month copper on the London Metal Exchange (LME) touched $8,799 a metric ton, the highest since Aug. 1, 2023. It last traded 1.6% up at $8,790 as at 1055 GMT.

Copper for delivery in May rose on the Comex market in New York, touching $4.06 per pound ($8,932 per tonne), up 3.3% compared to Tuesday’s closing.

The rise started on the Shanghai Futures Exchange (SHFE), where copper reached a two-year high of 70,460 yuan ($9,796) per ton.

China’s biggest copper smelters met in Beijing on Wednesday, agreeing on a symbolic cut in loss-making production, without specifying volumes and timing.

“It’s a knee-jerk response to rush in. Interest spiked on SHFE right after the announcement of China’s production cut,” a trader said. “Who will admit they are the first to turn unprofitable?”

Shortages have led to intensifying competition for mined copper concentrates, causing a sharp fall in income for smelters to decade-low levels.

“But it’s important to note that there are around 1.7 million tons per year new ex-China smelter projects that are expected to come online in the second half, which will put more pressure on global concentrate supply,” said Brian Peng, a copper analyst of consultancy CRU.

More global copper smelters were not operating in the first two months of the year than in the same period last year, mainly because of Chinese inactivity, data from satellite surveillance of metal processing plants showed.

However, higher copper prices could further dampen demand in top consumer China, as can be seen in inventories.

Copper inventory in warehouses monitored by SHFE rose steeply to 239,245 tonnes as at March 8 from 30,905 tonnes in the beginning of the year.

Clarity on demand prospects could be provided by China’s loan data due this week, including total social financing numbers, a gauge of future metals consumption.

(With files from Reuters)

https://www.mining.com/copper-price-soars-to-7-month-high-on-chinese-plans-to-cut-output/

Copperline - James Taylor

Copperline was released on the 1991 album "New Moon Shine". During the late 1980s, he had began touring regularly, especially on the summer amphitheater circuit. His later concerts featured songs from throughout his career.

Taylor had thoughts of retiring by the time he played the massive Rock in Rio festival in Rio de Janeiro in January 1985. He was encouraged by the nascent democracy in Brazil at the time, buoyed by the positive reception he got from the large crowd and other musicians, and musically energized by the sounds and nature of Brazilian music. Lyrics follow:

Even the old folks never knew
Why they call it like they do
I was wondering since the age of two
Down on copperline
Copper head, copper beech
Copper kettles sitting side by each
Copper coil, cup o'georgia peach
Down on copperline
Half a mile down to morgan creek
Leaning heavy on the end of the week
Hercules and a hog-nosed snake
Down on copperline
We were down on copperline.

One summer night on the copperline
Slip away past supper time
Wood smoke and moonshine
Down on copperline
One time I saw my daddy dance
Watched him moving like a man in a trance
He brought it back from the war in france
Down onto copperline
Branch water and tomato wine
Creosote and turpentine
Sour mash and new moon shine
Down on copperline
Down on copperline.

First kiss ever I took
Like a page from a romance book
The sky opened and the earth shook
Down on copperline
Down on copperline
Took a fall from a windy height
I only knew how to hold on tight
And pray for love enough to last all night
Down on copperline
Day breaks and the boys wakes up
And the dog barks and the birds sings
And the sap rises and the angels sigh, yeah.

I tried to go back, as if I could
All spec house and plywood
Tore up and tore up good
Down on copperline
It doesn't come as a surprise to me
It doesn't touch my memory
Man I'm lifting up and rising free
Down on over copperline
Half a mile down to morgan creek
I'm only living for the end of the week
Hercules and a hog-nosed snake
Down on copperline, yeah
Take me down on copperline
Oh, down on copperline
Take me down on copperline.

[JD400]

MCEWEN MINING | Red Cloud's Pre-PDAC 2024

Mar 5, 2024
Rob McEwen, Chairman & Chief Owner, Michael Meding, VP & GM, McEwen Copper, Stefan Spears, VP, Corporate Development, McEwen Mining joined us at Red Cloud's Pre-PDAC 2024, brought to you by Red Cloud Financial Services.

$MUX

[wshaw14]

McEwen Mining Inc. (NYSE:MUX) Q4 2023 Earnings Call Transcript
https://www.insidermonkey.com/blog/mcewen-mining-inc-nysemux-q4-2023-earnings-call-transcript-1268683/#q-and-a-session

[JD400]

$MUX hit the top 8th place on the junior miners network list.

MARKET MOVERS

COMPANY +CHANGE% LAST TRADE

Royal Gold 3.02 2.94 $105.65
Franco-Nevada 3.02 2.13 $145.11
Agnico Eagle Mines 2.19 3.36 $67.28
Cameco 1.91 3.47 $56.91
Sigma Lithium 1.71 12.03 $15.93
Contango ORE 1.32 7.80 $18.25
Endeavour Mining 1.32 5.92 $23.63
McEwen Mining 1.01 12.21 $9.28
Wheaton Precious Metals 1.00 1.79 $56.93
Torex Gold Resources 0.95 6.69 $15.15
Ero Copper 0.95 4.11 $24.07
NexGen Energy 0.91 9.51 $10.48
Piedmont Lithium 0.87 5.98 $15.43
Gold Fields 0.79 6.06 $13.83
Osisko Gold Royalties 0.73 3.68 $20.55

HIGH VOLUME
COMPANY VOLUME LAST TRADE
Uranium Energy 11,011,798 $6.95
B2Gold 5,717,650 $3.48
NexGen Energy 4,782,433 $10.48
Fission Uranium 4,126,731 $1.06
Calibre Mining 3,544,085 $1.63
Kinross Gold 3,275,852 $6.88
OceanaGold 2,978,863 $2.44
First Quantum Minerals 2,710,568 $12.90
Argonaut Gold 2,561,600 $0.24
Sigma Lithium 2,487,056 $15.93
Omai Gold Mines 2,260,256 $0.11
Euro Sun Mining 2,227,843 $0.07
New Gold 2,047,172 $1.82
Pelangio Exploration 2,039,000 $0.02
Guanajuato Silver 1,992,656 $0.16

Whelp I'm bout done on the old hub, don't think I'm doing anybody any good anymore
Feeling I'm knocking on heavens door
Have a good one everybody and Thanks

[wshaw14]

McEwen Mining Inc. Reports Strong Year-End and Q4 Results with Net Income Surge
https://finance.yahoo.com/news/mcewen-mining-inc-reports-strong-145139036.html

[JD400]

Whistlin Past The $MUX Geopolitical Graveyard

Milei's economic reforms stall in Argentina Congress
Argentine President Javier Milei was dealt a major setback in parliament Tuesday (February 6) when his deeply controversial deregulatory reform package was prevented from advancing and sent back for a rewrite, legislators said.

Latest $MUX Stock Update

McEwen drills 121.5 g/t over 0.4 metre at Stock gold mine

Staff Writer | February 28, 2024 | 8:04 am Exploration Canada Gold

The Stock East zone could be an early source of more ore for the Fox complex. Credit: McEwen Mining
McEwen Mining (TSX: MUX; NYSE: MUX) says gold resources are up 31% year-over-year at both the Stock West and Stock Main zones. The past-producing Stock mine is part of the company’s Fox complex near Timmins, Ontario.

The mineralization has been traced at depth. Geological interpretation suggests that there are two principal plunging structures, and drilling along these structures accounts to about half the 31% increases in resources. Both structures remain highly prospective for additional growth, said McEwen.

The Stock East zone is also emerging as a potential new source of near-term production. Here are the true width highlights of the recent assays:

Hole SEZ24-86: 121.5 g/t gold over 0.4 metre
Hole SEZ24-84: 6.5 g/t gold over 10.2 metres
Hole SEZ24-88: 4.5 g/t gold over 10.4 metres
Infill drilling at the Stock East zone has intersected mineable widths and grades. Drilling has also identified two plunge directions at Stock East.

McEwen says the location of the Stock East zone is strategic for several reasons. It lies close to the splay point of the Nighthawk Lake fault, and such splays are known to be good traps for gold mineralization. It is located only 700 metres east of the existing Fox mill, and because it is shallow it could be quickly and relatively inexpensive to develop.

The current drill program aims to upgrade most of the inferred mineralization to the indicated category and target the high-grade sections of the zone.

McEwen Mining produced 128,650 oz. of gold and 2.2 million oz. of silver in 2023, or 154,600 gold-equivalent ounces. The Fox complex was responsible for producing 44,450 gold-equivalent oz. or roughly 29% of the output.
https://www.mining.com/mcewen-drills-121-5-g-t-over-0-4-metre-at-stock-gold-mine/


Javier Milei to take on Argentina’s Economic Crisis

February 7, 2024 MJEInternational Economics
Written by Gabi Breuer

In late October, Argentina held presidential elections, crucial in determining how the country would handle its economic turmoil. Since the nineties, Argentina has struggled with such hardships: having substantial debts, falling into deep recession periods, and facing extraordinary inflation. This most recent election was critical to ensure Argentinians were put on the proper path to fix decades of poor economic decisions.

On November 19th, Argentina’s run-off election day, Javier Milei faced Sergio Massa after neither candidate received the necessary votes to win the first round. Milei won with 56% of the votes primarily due to his radical economic plan, which gave many Argentinians hope (Eliott, 2023). Even with the majority vote, people were anxious about the immediate ramifications their newly elected president would have on the peso. As of October 2023, inflation reached a 143% high, resulting in four in ten people living in poverty and the nation heading towards its sixth recession in a decade (Gillespie, 2023).

The morning after the election, Argentinians were most concerned with the “blue dollar” value. The blue dollar is a parallel rate to the dollar commonly used in backroom financial houses. Although the blue dollar is an unofficial exchange rate, news sites track the exchange in real-time due to its popularity. Starting his presidency with the blue dollar’s value increasing by 13%, Milei’s time in office began on a celebratory note (Biller, Politi, 2023). Compared to the bank-set price of 356 pesos to the dollar, the blue dollar exchange is almost triple that. The rate increase was an immediate positive sign for the newly elected president and possibly a beacon of hope that his economic plan could lead the country out of a recession.

Milei’s campaign was built upon perhaps the boldest plan any candidate has proposed in some time. The “Hail Mary” looks to dismantle the Argentine peso entirely and put into effect the US Dollar as the national currency. By dollarizing the economy, the national bank would set an exchange rate and buy back pesos.

Although the idea may seem far-fetched, it has been successfully implemented in Ecuador and Panama. It is important to highlight that both these countries have significantly smaller economies, whereas Argentina remains the third-largest economy in Latin America despite its economic difficulties (Gura, Martin, 2023). Argentina’s size will play a major part in the outcome of Milei’s plan as it faces the tedious process of buying back pesos from its 45 million citizens.

In addition to the nation’s size, Argentina faces a more significant problem. Likely, they do not have enough dollars to replace the peso, at least without causing an expansive currency shortage. Currently, the country owes the International Monetary Fund $44 billion and has $7.5 billion less than that in its reserves (Gura, Martin, 2023). It is improbable Argentina can find the funds to properly buy back all its pesos.

Even if the government did have the funds, Milei would need to convince over 45 million people to exchange their money in large quantities. This alone is an immense obstacle to face. With this being said, the Argentinian people feel a sense of safety with the US dollar, which could help ease the transition. Seeing that the peso loses value rapidly, Argentinians prefer to save money in American cash because of its reliability. As a result, 10% of all globally circulating US dollars are held in Argentina (Nica et al., 2023). This sense of safety helped Milei’s plan appeal to many and gain him their vote.

If Milei successfully dolarizes the economy, Argentina will lose autonomy over its currency and will depend entirely on the US for monetary policy. The US Federal Reserve would continue to make decisions based on what benefits the American economy, regardless of the impact on Argentina. Argentina would also lose its power to print money, an act done repeatedly over the last few decades in hopes of solving its crisis (Velde, Veracierto, 2023). Ultimately, money would be printed in the US.

Roughly two weeks after his election, Milei took the first step towards a new page in Argentine economics. The president appointed Luis Caputo as his economic minister. Caputo formerly served as the country’s finance minister and is known for his connections with Wall Street. Milei’s decision to appoint Caputo is a relatively calm choice compared to his alternatives. Previously, Milei had mentioned naming Emilio Ocampo, a strong supporter of dollarisation, but Ocampo backed out of the role (Nugent, 2023). Caputo’s appointment has many believing Milei will put aside his dollarization plan and focus on other issues first, like putting an immediate halt on printing excess money.

It is difficult to tell precisely what direction Milei will take in his first months as president, but it is clear that whatever decides, his attack must be aggressive. Javier Milei is set to take office officially on December 10th.

Works Cited

Biller, David, and Daniel Politi. “After the Dollar-Loving Milei Wins the Presidency, Argentines Anxiously Watch the Exchange Rate.” AP News, November 21, 2023. https://apnews.com/article/milei-argentina-dollar-peso-exchange-bb61f9e9a6108ba0ced63f89b2cfd431.

“Dollarization in Argentina.” Federal Reserve Cank of Chicago, 1999. https://www.chicagofed.org/publications/chicago-fed-letter/1999/june-142.

Elliott, Larry. “Would Javier Milei’s Dollar Plan for Argentina Be an Economic Experiment Too Far?” The Guardian, November 20, 2023. https://www.theguardian.com/world/2023/nov/20/javier-milei-dollar-plan-argentina-economy.

Gillespie, Patrick. “Argentina Inflation Hits 143% in Final Release before Presidential Election.” Bloomberg.com, November 13, 2023. https://www.bloomberg.com/news/articles/2023-11-13/argentina-s-inflation-hits-143-in-final-release-before-election?embedded-checkout=true.

Martin, Michel, and David Gura. “Argentina’s President-Elect Javier Milei Has a Plan to Fight Inflation: Dollarization.” NPR, November 22, 2023. https://www.npr.org/2023/11/22/1214619380/argentinas-president-elect-javier-mile-has-a-plan-to-fight-inflation-dollarizati.

Nicas, Jack, Natalie Alcoba, and Lucía Cholakian Herrera. “In Country Where Houses Are Bought in $100 Bills, Plans for Sweeping Change.” The New York Times, November 24, 2023. https://www.nytimes.com/2023/11/24/world/americas/argentina-economy-peso-dollar-javier-milei.html#:~:text=As%20a%20result%2C%20about%2010,to%20%243%2C100%20for%20every%20American.

Nugent, Ciara. Argentina’s Javier Milei names moderate ex-trader as economy minister, November 29, 2023. https://www.ft.com/content/330bd3fb-b418-458f-9b2b-31718b52f935.
https://sites.lsa.umich.edu/mje/2024/02/07/javier-milei-to-take-on-argentinas-economic-crisis/
...............................

with Mining & Metals GraveYard Shift Soundtrack

Tom Waits - Whistlin´ Past The Graveyard

Well I come in on a night train
With an arm full of box cars
On the wings of a magpie
Cross a hooligan night
And I busted up a chifforobe
Way out by the Cocomo
Cooked up a mess a mulligan
And got into a fight

Whistlin past the graveyard
Steppin' on a crack
I'm a mean Mother Hubbard
Papa one eyed jack

You probably seen me sleepin'
Out by the railroad tracks
Go on and ask the prince of darkness
What about all that smoke
Come from the stack
Sometimes I kill myself a jacket
Suck out all the blood
Steal myself a station wagon
Drivin' through the mud

Whistlin past the graveyard
Steppin' on a crack
I'm a mean Mother Hubbard
Papa one eyed jack

I know you seen my headlights
And the honkin' of my horn
I'm callin' out my bloodhounds
Chase the devil through the corn
Last night I chugged the Mississippi
Now that suckers dry as a bone
Born in a taxi cab
I'm never comin' home

Whistlin past the graveyard
Steppin' on a crack
I'm a mean Mother Hubbard
Papa one eyed jack

My eyes have seen the glory
Of the draining of the ditch
I only come to baton rouge
To find myself a witch
I'm-ona snatch me up a
Couple of em every time it rains
You see a locomotive
Probably thinkin' its a train

Whistlin past the graveyard
Steppin' on a crack
I'm a mean Mother Hubbard
Papa one eyed jack

What you think is the sunshine
Is just a twinkle in my eye
That ring around my fingers
Just the fourth of July
When I get a little bit lonesome
And a tear falls from my cheek
There's gonna be an ocean in
The middle of the week

Whistlin past the graveyard
Steppin' on a crack
I'm a mean Mother Hubbard
Papa one eyed jack

I rode into town on a night train
With an arm full of box cars
On the wings of a magpie
Cross a hooligan night
I'm-ona tear me off a rainbow
And wear it for a tie
I never told the truth
So I can never tell a lie

Whistlin past the graveyard
Steppin' on a crack
I'm a mean Mother Hubbard
Papa one eyed jack

,,,,,,,,,

[wshaw14]

McEwen Copper: Update on Assay Results at Los Azules

https://finance.yahoo.com/news/mcewen-copper-assay-results-los-150000449.html

[wshaw14]

McEwen Copper Reports Improved Copper Recovery
https://finance.yahoo.com/news/mcewen-copper-reports-improved-copper-182400528.html

[JD400]

Counting The Numbers Down The Waterline MUX

$MUX Jump Financial LLC Sells 21,877 Shares of McEwen Mining Inc (NYSE:MUX)
Posted by AM Reporter Staff on Feb 17th, 2024
with MMGYS Soundtrack

Jump Financial LLC lessened its holdings in shares of McEwen Mining Inc (NYSE:MUX – Free Report) (TSE:MUX) by 42.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,243 shares of the basic materials company’s stock after selling 21,877 shares during the quarter. Jump Financial LLC owned approximately 0.06% of McEwen Mining worth $190,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of MUX. UBS Group AG increased its position in McEwen Mining by 37.3% during the second quarter. UBS Group AG now owns 83,005 shares of the basic materials company’s stock worth $36,000 after buying an additional 22,541 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of McEwen Mining by 968.2% in the second quarter. Tower Research Capital LLC TRC now owns 5,950 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 5,393 shares during the last quarter. Citigroup Inc. acquired a new position in shares of McEwen Mining in the second quarter valued at approximately $45,000. Jane Street Group LLC grew its position in shares of McEwen Mining by 47.1% in the second quarter. Jane Street Group LLC now owns 121,791 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 38,985 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of McEwen Mining by 221.4% in the first quarter. Bank of America Corp DE now owns 7,544 shares of the basic materials company’s stock valued at $64,000 after purchasing an additional 5,197 shares during the last quarter. Institutional investors and hedge funds own 19.63% of the company’s stock.

other news

Feb 15, 2024 #Copper #Gold #Investing

Rob McEwen of McEwen Mining and Michael Meding of McEwen Copper discuss their respective companies and share their thoughts on gold and copper in the year ahead. For McEwen, the price trajectory for both metals is "higher."

He also spoke about the disconnect between the gold price and gold stocks, commenting, "I find this is time to be buying, and I have been buying juniors and adding to positions in companies. You just need to bear in mind it's cyclical, and when it wants to run there are some very attractive gains to be made — and the stocks are cheap right now."

This interview was filmed on February 8, 2024.

#Investing #Gold #Copper

0:00 - Intro
0:32 - Gold's main price drivers in 2024
2:33 - Gold juniors are cheap and set to run
4:07 - Javier Milei and Argentina mining
8:26 - Raising $100 million for Los Azules
11:08 - Will McEwen Copper do an IPO?
13:08 - Copper outlook, 2024 and beyond
16:43 - McEwen Mining meets guidance
20:26 - Now is the time to be contrarian
21:29 - Outro

[wshaw14]

McEwen Mining: 2023 Production and Guidance for 2024
https://finance.yahoo.com/news/mcewen-mining-2023-production-guidance-210000695.html