Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
You're welcome.
Thanks, great interview.
Gotta love this market. World falling apart and gold and silver stocks get scooped and pooped. HL and MUX for some reason have the exact same fallick symbol chart. Or maybe its a giant middle finger from the big boys AI HFT machine.
37.6 Billion Lbs Copper Titan | McEwen Mining Inc - Rob McEwen
If my mining stocks are stalled before the precious fed pivot tomorrow why are they not going up today.
Lost in Center field
Black and Yellow Gold Nearing Breaks as Participants Regroup
The two quintessential commodities crude oil and gold both appear to be near inflection points.
Carley GarnerSep 16, 2024 6:45 PM EDT
For this article, we have turned our attention to the two quintessential commodities: crude oil and gold. As we generally do, we are paying attention to what the Commitments of Traders (CoT) report issued weekly by the Commodity Futures Trading Commission tells us.
We suspect both products could be nearing a break in the trend as market participants regroup. Let’s start with oil.
Black Gold (Crude Oil)
Crude oil speculators haven’t gone short the market, but their long positions have dwindled to about 200,000 net long futures; levels that are generally supportive of prices.
In the mid-2010s, each time speculators held this small of a bullish position, the oil market found a reason to tag $20.00 to $30.00 to the price of oil. In 2016, a similar setup on the CoT chart pushed prices from about $30.00 per barrel to nearly $80.000, and in 2023, we saw a rally from the low $60.00s into the $90.00s. It is still unknown if speculators will continue their unwind to push oil prices much lower or if we will see another price bump as speculators put long positions back on, but we are leaning toward the latter.
The weekly crude oil chart depicts technical support roughly between $65.00 and $60.00 per barrel. In fact, last week’s sudden flush-out might have been the low for the move. In any case, there is a good argument for being bullish on dips as we advance.
The 200-week moving average near $78.00 is still in an uptrend, and it would be par for the course to see oil prices make another run at it. If the market can chew through it, trendline resistance at about $80.00 will present another challenge to the bulls, but above this level, we could see a nice boost as traders unwind their deflation trades (long stocks, short commodities). Who knows? Maybe $90.00 is still in play.
Gold of the Yellow Variety
Just as everyone is finally starting to get on the bullish gold bandwagon, it feels like the rug could be pulled from beneath the market.
According to the CoT report, large speculators hold one of the most significant net long positions ever recorded in gold futures. In the past, this group getting aggressively bullish hasn’t always resulted in immediate selling pressure, but it might be a sign that the “easy” money (if such a thing exists) has been made on the upside. Things could get pretty rocky as we advance.
Seasonality doesn’t offer the bulls any comfort. According to our friends at MRCI, the last 15 years of price data suggest a seasonal high in early September, followed by about three months of weakness.
Lastly, we revisit the monthly chart of gold. We have been following and sharing this chart for two or more years to support the idea of a run to about $2,600 (the target started around $2,450/$2,500, but due to the passing of time and the slope of the trendline, the new target is $2,600/$2,650). In any case, we are roughly there.
If you made money on the way up, be sure to lock-in, or at least protect gains. If you are a bear, this is probably a time to be net-short gold in a small way while we see what happens with the Fed meeting and the U.S. election.
All along, we have assumed that the 2023/2024 gold market is a replay of the 2010/2011 rally. Thus far, that has been a relatively accurate take.
If we continue to follow the 2010/2011 game plan, the highs in gold are probably near. The RSI indicator on this chart displayed three rally waves to conclude the 2011 rally in which the middle wave produced the highest RSI reading. With this in mind, we suspect the third wave of the current RSI pattern will fall short sooner rather than later. Perhaps this week’s Fed meeting will be the catalyst for lower prices. It should also be noted that the 2011 high occurred in September. Never underestimate the market’s tendency to repeat history.
Conclusion
We’ve seen market participants become comfortable with the idea of lower crude oil and higher gold prices. Still, perhaps everyone in a position to act on this opinion has already done so.
In short, the oil speculators have liquidated long holdings, and gold bulls have likely deployed the majority of their capital. Unless we get a continuous stream of overwhelming fundamental news confirming these stances, the most likely scenario is a trend reversal (firmer oil and softer gold).
https://pro.thestreet.com/market-commentary/black-and-yellow-gold-nearing-breaks-as-participants-regroup
*John Fogerty - Centerfield
Drilling Results – How Can You Determine if a Mining Company’s Drill Results are of Low, Medium or High Grade
Drilling results for base metals are typically reported in percentage per tonne (%), while precious metals are reported in grams per tonne (g/t). As an investor, it’s crucial to understand if a drill result indicates low-, medium-, or high-grade mineralization, as this can provide insight into the potential financial outcomes of the deposit.
After analyzing and interpreting various drill reports to differentiate between low-, medium-, and high-grade mineralization, I have summarized my findings in the following table:
Low Grade, Medium Grade and High Grade Mineralization
here's the table >>>>>>Click
https://undervaluedequity.com/drilling-results-how-can-you-determine-if-a-mining-companys-drill-results-are-of-low-medium-or-high-grade/
Hope this helps WATM The Fox hit the home run
McEwen Mining: Navigating Challenges with Strong Exploration Potential and Improved Financial Metricsnn
PUBLISHED / MODIFIED SEP 11 2024
CSIMARKET TEAM / CSIMARKET.COM
In a recent update, McEwen Mining Inc. highlighted significant developments in its Grey Fox exploration project, showcasing accessible mineralization and promising exploration potential. Despite facing a challenging market, evidenced by a 6.47% decline in share price during the third quarter of 2024, the company continues to move forward strategically.
The exploration update reveals a wealth of opportunities within the Grey Fox property. The site possesses mineralization that is not only accessible but also conducive to future resource extraction, underscoring the company?s commitment to enhancing its production portfolio. This comes at a time when McEwen Mining is aggressively seeking to optimize its asset base, positioning itself for a more robust performance moving forward.
In addition to exploration advancements, McEwen Mining reported encouraging financial performance in its second quarter of 2024. The company boasted a return on assets (ROA) of 12.64%, significantly outperforming its historical average of -12.31%. This improvement can be attributed to a substantial growth in net income, which surged from 7.99% in the first quarter of 2024 to its current level, reflecting the effectiveness of McEwen?s operational strategies.
Continues here >>>> https://csimarket.com/news/mcewen-mining-navigating-challenges-with-strong-exploration-potential-and-improved-financial-metricsnn2024-09-11110266
Yes sir
Grey Fox is currently a +1 Million ounce gold deposit and is the next project in our growth pipeline after the current development of our Stock Project (see June 20th/2024 Press Release)
McEwen Mining: Grey Fox Exploration Update
https://finance.yahoo.com/news/mcewen-mining-grey-fox-exploration-110000716.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuYmluZy5jb20v&guce_referrer_sig=AQAAANIfm2vz74GHVLMIG0m9z6Cz7OCSryySLfWP64hB67dz4yXFLF9sh2LdHGdabElgJ99eF2JWETOGCKh-WeJVKCGHGNa5uvnk6Pfknvfl0N4uLnTmm2KujUPwxnJXONpYOxecBiWwoQzjmWgODY8HsLaP9lOxLmpwmfgoEThcZElN
This Asset Will Go 10x as Gold Price Rallies to $5,000 Says Billionaire Rob McEwen
Velocity of share bounces might be a sign of HF’s wanting in. Patience is key for longs, we will get there and on the flip side, no matter what, the economy is not going to get better, period! Mux, great place to park your money!
MiningNewsBreaks – McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) Chooses YPF Luz to Provide 100% Renewable Energy for Los Azules Project
https://www.msn.com/en-us/money/markets/miningnewsbreaks-mcewen-mining-inc-nyse-mux-tsx-mux-chooses-ypf-luz-to-provide-100-renewable-energy-for-los-azules-project/ar-AA1pwMxy?ocid=BingNewsVerp
Thanks, It looks very promising that Argentina is finally getting things straightened out. Things there were looking extremely shaky for a very long time.
Recent and Upcoming McEwen Mining and McEwen Copper Presentations
Thursday, August 22, 2024 4:05 PM PDT
GLOBENEWSWIRE
TORONTO, Aug. 22, 2024 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) and McEwen Copper Inc. are pleased to announce their participation in Fastmarkets’ “Argentina: An emerging powerhouse for copper and lithium” webinar and in three upcoming industry conferences.
In the Fastmarkets webinar (available here), McEwen Mining’s CEO and Chief Owner Rob McEwen participated in a panel discussion exploring Argentina’s vast copper and lithium reserves and how these resources are positioning the country as a pivotal player in the global energy transition.
For the upcoming conferences, Rob McEwen will be joined by Michael Meding, Vice President and General Manager of McEwen Copper. Rob McEwen will provide insights into McEwen Mining’s projects and operations, while Michael Meding will present on the Los Azules copper project.
Jefferies Global Metals & Mining Conference, September 4-5, 2024, New York, NY
Presentation Details Date: Wednesday, September 4, 2024 Time: 3:40-4:10 PM EDT Link: https://wsw.com/webcast/jeff303/mux/1724250 (Recording will be available at this location for 90 days following the presentation)
H.C. Wainwright 26th Annual Global Investment Conference, September 9-11, 2024, New York, NY
Presentation Details Date: Monday, September 9, 2024 Time: 7:00-7:30 AM EDT Link: https://journey.ct.events/view/631ba475-0941-405b-9ed4-c1bc35dde713 (Recording will be available at this location for 90 days following the presentation)
2024 Beaver Creek Precious Metals Summit, September 10-13, 2024, Beaver Creek, CO
Presentation Details Date: Tuesday, September 10, 2024 Time: 4:15-4:30 PM MDT (6:15-6:30 PM EDT) Event Link: https://www.gowebcasting.com/C1664 (Presentations will be archived at https://www.precioussummit.com)
The links to these presentations will also be available on our company’s Media page:
https://www.mcewenmining.com/media/overview[
https://www.mining.com/press-release/?id=66c7d12b93921002d58ad41c
Argentina to sign deal with US to boost metals mining
Bloomberg News | August 21, 2024 | 9:52 am News Latin America USA Copper Lithium
Argentina will sign an agreement with the US to draw more investment and trade in critical-minerals mining, a State Department official said, part of an ongoing US effort to boost supply chains for the metals that don’t involve China.
President Javier Milei’s government will sign the agreement with the US during a visit to Argentina this week by US Under Secretary of State Jose Fernandez. Argentina has vast resources of copper and lithium but has only tapped a tiny portion of them.
The agreement with Argentina will make it easier for the nation to work with countries in the Minerals Security Partnership, a US-led grouping that includes 14 countries and the European Union. The strategy aims to ease dependence on China for minerals that go into electric vehicle batteries and solar panels by linking foreign investors with mining projects and adhering to strict environmental standards.
“It’s a way for Argentina to literally make pitches to 14 countries and the EU in one fell swoop,” Fernandez said in an interview before the announcement. “Producing countries want the kinds of investments that we’re proposing, investments that will benefit communities, that will bring growth, that will observe national laws.”
Fernandez will also travel to Ecuador and Peru for meetings on trade, investment, sustainable agriculture and a separate regional initiative known as the Americas Partnership for Economic Prosperity.
Launched in 2022, the US-led minerals push has so far resulted in high-level talks but few tangible investments. And while Milei is adamant about aligning with Washington, it will be tough to draw Argentina out of Beijing’s orbit given China is its largest trading partner after Brazil.
Before the announcement, the State Department welcomed people to register for a Minerals Security Partnership forum event in Buenos Aires on Aug. 23 to “learn more about lithium and copper extraction opportunities in Argentina.” Describing the country as a global leader for new resource development, it added that “there are many lithium and copper projects available for investment across several provinces.”
The minerals agreement doesn’t address Argentina’s inability to qualify for incentives for lithium production under the US Inflation Reduction Act of 2022, a law aimed in part at speeding EV adoption. Argentina is currently locked out of those benefits because it doesn’t have a free-trade deal with the US, and Argentine officials have been seeking access.
(By Eric Martin)
https://www.mining.com/web/argentina-to-join-us-group-for-spurring-metals-investments/
Good Morning
Coldplay - Viva La Vida (Live In São Paulo)
⬆️ $10 ⬇️ $6 ⬆️ $12 ⬇️ $8……..looks like a stairway to $14-$16. Patient planned out algo?
I feel like one day its going to run and never look back. They will take it so high day traders are going to be all out and all in three times in one day!
Me, I never was good at timing charts, stars and the moon so I will just watch in amazement at how the circus.
My cat Goldilocks says "Get Out Meow"
Shouldn't their be human being involvement with this stock
Looks like you may have got your wish. Amazing 10% in one easy float up of a day!
Let me know when the machines start buying...Thanks~
I see Paper gold stocks rallied and bond yields sank after the latest US inflation reading reinforced speculation the Federal Reserve will be able to deploy its widely anticipated interest-rate cut in September.
Nothing to do with miners or gold but everything to do with paper.
Loved the high grade copper news and all of the Q2 report Love the transparency Rob always delievers,
However it has nothing to do with the Stock imo. Even during the conference call the sellers were busy selling away.
None of the actual mining news affects the controllers of the stock. Who work in collusion controlling the stock prices in all the mining producers.
Over the years they have stolen most of the value out of all the miners. Example Look at the U S largest and oldest silver miner they can barely hold a $5 buck SP.
Peeps don't understand paper gold and paper copper. The big news about MUX stock is the September interest rate cut maybe to long to wait forcing everyday Risk.
That whats important for us to make a profit here, Nothing to do with the miner. Everything to do with paper.
Therefore I see the entire controlled mining stock sector being sold down until the cut.
Also I'm not thrilled with Argentina leasing out their gold for such little profit and washing their pesos in U S dollars hoping the price will go up.
They have a 1.6 billion dollar note to pay buy the end of the year. I guess I just don't trust them.
Enjoy the joke
Banned $MUX Conference Call Questions
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174877672
I guess during the funeral $MUX is going to deliver the Aug. 8th Earnings Report speech
Gold price surpasses $2,500 for first time ever
Staff Writer | August 2, 2024 | 8:19 am Markets USA Gold
Gold surpassed $2,500 per ounce for the first time in history on Friday in the wake of rising geopolitical tensions and new data indicating a weakening US economy.
Gold contracts for December delivery reached an all-time high of $2,522.50 in the early trading hours, before shedding its gains to trade at $2,475.90 an ounce by 11:00 a.m. ET.
Spot gold posted a marginal loss of 0.5% at $2,432.86 per ounce, having hit as high as $2,477.10 — just within grasp of its all-time peak of $2,483.73 set earlier this month.
Bullion has gained about 3% so far this week, on track for its best week since April, as rising safe-haven demand from Middle East tensions and expectations of rate cuts made the metal more appealing to investors.
Meanwhile, US 10-year yields dropped to their lowest since December and the dollar index hit its lowest since March after data showed that employers added fewer jobs in July than economists had forecasted, while the unemployment rate increased to 4.3%.
The data follows comments from Fed Chair Jerome Powell, who on Wednesday said that rates could be cut as soon as September if the US economy follows its expected path.
“The marketplace just now is factoring in a better-than-70% chance for a 50-basis-point cut by the Fed at the September FOMC meeting,” said Jim Wyckoff, senior market analyst at Kitco Metals in a note to Reuters.
“Lower yields, some safe-haven buying and then the idea of a weakening economy which is bringing rates lower along with the dollar, all of those are in support of the gold market,” said David Meger, director of alternative investments and trading at High Ridge Futures.
(With files from Reuters)
Read More: Global gold demand reaches Q2 record — report
https://www.mining.com/gold-price-surpasses-2500-for-first-time-ever/
Meanwhile Gold miners sold off into oblivion like attending a funeral for grandma who was mugged in the alley and they stole her purse
Hehe
Elton John - Funeral For A Friend / Love Lies Bleeding (Live At Madison Square Garden)
Timberline potential 5 million ounces
Heres some insights into newly acquired Timberline Resources
Jan 9, 2023
Timberline Resources is focused on delivering high-grade Carlin-Type gold discoveries at its district-scale Eureka Project in Nevada. The Eureka Property includes the historic Lookout Mountain and Windfall mines in a total property position of approximately 24 square miles (62 square kilometers).