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Mining The Deep Sea Offers Green Energy Potential But Environmental Risk
Scripps News
Nov 27, 2023
From the Pacific Islands to the Arctic Circle, “In Real Life” goes to the frontlines of the debate over deep sea mining. As companies rush to the bottom of the oceans to mine rare earth minerals that could power future technology, conservationists push back on impacts on fragile marine ecosystems.
Mining The Deep Sea Offers Green Energy Potential But Environmental Risk
Scripps News
Nov 27, 2023
From the Pacific Islands to the Arctic Circle, “In Real Life” goes to the frontlines of the debate over deep sea mining. As companies rush to the bottom of the oceans to mine rare earth minerals that could power future technology, conservationists push back on impacts on fragile marine ecosystems.
Refining Pure Gold From An 1800s Gold Mine!
Ghost Town Two
Nov 15, 2023
I took a trip to Washington state to meet up with my friend Jason at his gold mine from the 1800s. He is reopening the mine and was nice enough to allow us to take a tour and do some mining! We spent the day chipping out gold from the walls and refining it back at Jason's shop.
Happy Thanksgiving
Refining Pure Gold From An 1800s Gold Mine!
Ghost Town Two
Nov 15, 2023
I took a trip to Washington state to meet up with my friend Jason at his gold mine from the 1800s. He is reopening the mine and was nice enough to allow us to take a tour and do some mining! We spent the day chipping out gold from the walls and refining it back at Jason's shop.
Happy Thanksgiving
Rob McEwen, CEO & Chief Owner of McEwen Mining, presenting at the 2023 Precious Metals Summit Zurich
McEwen Mining
Nov 20, 2023
Thanks Tred Happy Thanksgiving to you and all 😊
Rob McEwen, CEO & Chief Owner of McEwen Mining, presenting at the 2023 Precious Metals Summit Zurich
McEwen Mining
Nov 20, 2023
Thanks Tred Happy Thanksgiving to you and all 😊
Why the FED will revalue gold 2024 - LFTV Ep 149 Timestamps:
Kinesis Money
Nov 17, 2023
In this week’s episode of Live from the Vault, Andrew Maguire reveals the Federal Reserve’s Achilles Heel: the exchange of deflating dollars to undervalued bullion, ask asks why anyone would buy treasuries when they could buy gold.
Andrew explains how global central banks are accruing physical gold ahead of this game-changing event. The precious metals expert and whistleblower reveals there may be only 35 trading days until a possible gold revaluation.
00:00 Start
01:45 Short-term volatility outlook
06:00 Gold reserves
11:20 How a gold revaluation might roll out
15:30 Current gold prices
30:30 What we’re seeing in the silver markets
Why the FED will revalue gold 2024 - LFTV Ep 149 Timestamps:
Kinesis Money
Nov 17, 2023
In this week’s episode of Live from the Vault, Andrew Maguire reveals the Federal Reserve’s Achilles Heel: the exchange of deflating dollars to undervalued bullion, ask asks why anyone would buy treasuries when they could buy gold.
Andrew explains how global central banks are accruing physical gold ahead of this game-changing event. The precious metals expert and whistleblower reveals there may be only 35 trading days until a possible gold revaluation.
00:00 Start
01:45 Short-term volatility outlook
06:00 Gold reserves
11:20 How a gold revaluation might roll out
15:30 Current gold prices
30:30 What we’re seeing in the silver markets
“Unless You Need the Money, Don’t Sell Junior Gold Stocks Here” says Fund Manager Dave Kranzler 0:00 Introduction
Mining Stock Education
Nov 14, 2023 #goldstocks #miningstocks #resourceinvesting
“Unless You Need the Money, Don’t Sell Junior Gold Stocks Here” says fund manager Dave Kranzler in this MSE episode. Dave is the editor of the Mining Stock Journal. He returns to the program to provide his commentary on precious metals and reveal some junior gold stock picks. Dave holds an MBA from the University of Chicago with a concentration in accounting and finance. Over the years he has worked in various analytic and trading jobs on Wall Street. For nine years of those years he traded junk bonds for a large bank. For the past 16 years, Dave has been an avid student of the precious metals markets and steadfast proponent of holding physical gold and silver in one’s portfolio. Currently, he co-manages a precious metals and mining stock investment fund in Denver. Dave’s stated goal is to help people understand and analyze what is really going on in our financial system and economy.
0:49 Junior gold sector investor sentiment
5:35 Trigger for gold & gold stock run-up
8:12 Calibre take-over of Marathon Gold
15:35 Mining stock pick #1
18:04 Mining stock pick #2
24:27 Mining stock pick #3
“Unless You Need the Money, Don’t Sell Junior Gold Stocks Here” says Fund Manager Dave Kranzler 0:00 Introduction
Mining Stock Education
Nov 14, 2023 #goldstocks #miningstocks #resourceinvesting
“Unless You Need the Money, Don’t Sell Junior Gold Stocks Here” says fund manager Dave Kranzler in this MSE episode. Dave is the editor of the Mining Stock Journal. He returns to the program to provide his commentary on precious metals and reveal some junior gold stock picks. Dave holds an MBA from the University of Chicago with a concentration in accounting and finance. Over the years he has worked in various analytic and trading jobs on Wall Street. For nine years of those years he traded junk bonds for a large bank. For the past 16 years, Dave has been an avid student of the precious metals markets and steadfast proponent of holding physical gold and silver in one’s portfolio. Currently, he co-manages a precious metals and mining stock investment fund in Denver. Dave’s stated goal is to help people understand and analyze what is really going on in our financial system and economy.
0:49 Junior gold sector investor sentiment
5:35 Trigger for gold & gold stock run-up
8:12 Calibre take-over of Marathon Gold
15:35 Mining stock pick #1
18:04 Mining stock pick #2
24:27 Mining stock pick #3
How To Build a Multi-Billion-Dollar Enterprise with Mining Titan Rob McEwen
Machai Productions
Nov 9, 2023
Today we sat down with Mining magnate Rob McEwen.
Socials:
/ machaicapital
/ machai-capital
/ machaiproductions
Rob McEwen, is a Canadian businessman. He is the chairman and chief executive officer of McEwen Mining and was the founder and former chairman and chief executive officer of Goldcorp. In January 2019, Goldcorp merged with Newmont creating Newmont Goldcorp Corporation, the second largest gold mining company in the world. McEwen followed his father into the investment industry and also developed a passion for gold. As of 2016 he is one of the top one-hundred wealthiest Canadians, with an estimated personal net worth over $800 million.
Transcript
Follow along using the transcript.
click video for transcript
How To Build a Multi-Billion-Dollar Enterprise with Mining Titan Rob McEwen
Machai Productions
Nov 9, 2023
Today we sat down with Mining magnate Rob McEwen.
Socials:
/ machaicapital
/ machai-capital
/ machaiproductions
Rob McEwen, is a Canadian businessman. He is the chairman and chief executive officer of McEwen Mining and was the founder and former chairman and chief executive officer of Goldcorp. In January 2019, Goldcorp merged with Newmont creating Newmont Goldcorp Corporation, the second largest gold mining company in the world. McEwen followed his father into the investment industry and also developed a passion for gold. As of 2016 he is one of the top one-hundred wealthiest Canadians, with an estimated personal net worth over $800 million.
Transcript
Follow along using the transcript.
click video for transcript
$STRRF Approval of $300,000 Grant From Manitoba Mineral Development Fund (MMDF)
Increases Company’s Exploration Funding
Toronto, Ontario – November 13, 2023 – Canadian Gold Corp. (TSXV: CGC) (“Canadian Gold” or the “Company”) is pleased to announce that it has been approved for a $300,000 grant from the Manitoba Mineral Development Fund (“MMDF”) as announced at the CCMEC Mineral Conference held in Winnipeg, Manitoba last week. This grant, when combined with the Company’s treasury and pending final tranche closing of the current financing, will increase Canadian Gold’s total capital to approximately $3.5 million.
Canadian Gold CEO Ed Huebert said, “We wish to thank the MMDF for supporting our exploration program at the Tartan Mine near Flin Flon, Manitoba. This funding will help advance the ongoing (2023/24) 2,500 metre diamond drill program” (Click HERE to see the Company’s news release dated November 8, 2023 for further details).
Canadian Gold Corp. acknowledges the significant impact that the MMDF has on mineral exploration in Manitoba, which augments economic development and regional investment across the province. The MMDF program and the Manitoba Mineral Exploration Tax Credit (“MMETC”) make Manitoba a strong destination for mineral exploration. Manitobans may avail themselves of unique tax incentives when investing in eligible Manitoba mineral exploration projects, such as the Tartan Mine.
The MMETC provides Manitoba residents with some of the most advantageous tax credits in Canada, when compared to other provinces. Being able to access this funding for future exploration programs should allow the Company to lower its cost of capital when raising equity, and to help limit dilution, thereby better preserving each shareholder’s percentage ownership in Canadian Gold. Additional details regarding MMETC tax credits for Manitoba residents can be found on the Prospectors & Developers Association of Canada (“PDAC”) website by clicking HERE.
About Canadian Gold Corp.
Canadian Gold Corp. is a Toronto-based mineral exploration and development company whose objective is to expand the high-grade gold resource at the past producing Tartan Mine, located in Flin Flon, Manitoba. The Company holds a 100% interest in greenfields exploration properties in Ontario and Quebec adjacent to some of Canada’s largest gold mines and development projects, specifically, the Canadian Malartic Mine (QC), the Hemlo Mine (ON) and Hammond Reef Project (ON). The Company is 38.8% owned by Robert McEwen, who was the founder and CEO of Goldcorp and is Chairman and CEO of McEwen Mining.
On behalf of the Canadian Gold Corp. Board of Directors.
For Further Information, Please Contact:
Ed Huebert
Chief Executive Officer
Canadian Gold Corp.
(204) 771-2180
info@canadiangoldcorp.com
Jennifer Boyle
Director
Canadian Gold Corp.
(416) 904-2714
jennifer@capexgroupinc.com
https://canadiangoldcorp.com/approval-of-300000-grant-from-manitoba-mineral-development-fund-mmdf/
Approval of $300,000 Grant From Manitoba Mineral Development Fund (MMDF)
Increases Company’s Exploration Funding
Toronto, Ontario – November 13, 2023 – Canadian Gold Corp. (TSXV: CGC) (“Canadian Gold” or the “Company”) is pleased to announce that it has been approved for a $300,000 grant from the Manitoba Mineral Development Fund (“MMDF”) as announced at the CCMEC Mineral Conference held in Winnipeg, Manitoba last week. This grant, when combined with the Company’s treasury and pending final tranche closing of the current financing, will increase Canadian Gold’s total capital to approximately $3.5 million.
Canadian Gold CEO Ed Huebert said, “We wish to thank the MMDF for supporting our exploration program at the Tartan Mine near Flin Flon, Manitoba. This funding will help advance the ongoing (2023/24) 2,500 metre diamond drill program” (Click HERE to see the Company’s news release dated November 8, 2023 for further details).
Canadian Gold Corp. acknowledges the significant impact that the MMDF has on mineral exploration in Manitoba, which augments economic development and regional investment across the province. The MMDF program and the Manitoba Mineral Exploration Tax Credit (“MMETC”) make Manitoba a strong destination for mineral exploration. Manitobans may avail themselves of unique tax incentives when investing in eligible Manitoba mineral exploration projects, such as the Tartan Mine.
The MMETC provides Manitoba residents with some of the most advantageous tax credits in Canada, when compared to other provinces. Being able to access this funding for future exploration programs should allow the Company to lower its cost of capital when raising equity, and to help limit dilution, thereby better preserving each shareholder’s percentage ownership in Canadian Gold. Additional details regarding MMETC tax credits for Manitoba residents can be found on the Prospectors & Developers Association of Canada (“PDAC”) website by clicking HERE.
About Canadian Gold Corp.
Canadian Gold Corp. is a Toronto-based mineral exploration and development company whose objective is to expand the high-grade gold resource at the past producing Tartan Mine, located in Flin Flon, Manitoba. The Company holds a 100% interest in greenfields exploration properties in Ontario and Quebec adjacent to some of Canada’s largest gold mines and development projects, specifically, the Canadian Malartic Mine (QC), the Hemlo Mine (ON) and Hammond Reef Project (ON). The Company is 38.8% owned by Robert McEwen, who was the founder and CEO of Goldcorp and is Chairman and CEO of McEwen Mining.
On behalf of the Canadian Gold Corp. Board of Directors.
For Further Information, Please Contact:
Ed Huebert
Chief Executive Officer
Canadian Gold Corp.
(204) 771-2180
info@canadiangoldcorp.com
Jennifer Boyle
Director
Canadian Gold Corp.
(416) 904-2714
jennifer@capexgroupinc.com
https://canadiangoldcorp.com/approval-of-300000-grant-from-manitoba-mineral-development-fund-mmdf/
Pics of the hotel jewel mining models for $MUX
9:28 mark
MCEWEN MINING | Red Cloud's Fall Mining Showcase 2023
Red Cloud TV
3 days ago
Rob McEwen, Chairman & Chief Owner, Stefan Spears, V.P. Corporate Development, McEwen Mining joined us at Red Cloud's Fall Mining Showcase 2023, brought to you by Red Cloud Financial Services.
Go $MUX.......
........Go Green......
Go McEwen Copper...
Five Reasons Why Junior Mining Investors Fail explains Bill Powers (#4 blindsides newbies) 0:00 Introduction
MiningStockEducation.com
Nov 11, 2023 #smallcapstocks #miningstocks #resourceinvesting
Bill Powers explains five reasons why junior mining investors fail in this MSE episode. He shares numerous insights gained by firsthand experience over the past eight years of focused investing in junior resources stocks. Learn and heed all five warnings, if you have not already. Number four frequently blindsides newbies.
2:19 Failure Reason #1
8:12 Failure Reason #2
13:14 Failure Reason #3
18:39 Failure Reason #4
22:12 Failure Reason #5
Video mentioned at 7:13 “Discerning Mining Promoter Claims”:
• Discerning Mining Promoter Claims wit...
Video mentioned at 8:47 “Discerning Bias”:
• Discerning Bias in the Mining Investm...
Video mentioned at 19:37 “Bre-X Scam”:
• Warren Irwin | Discerning Mining Stoc...
Video mentioned at 19:48 “Mining Scams”:
• Don’t Fall for Mining Stock Scams War...
Five Reasons Why Junior Mining Investors Fail explains Bill Powers (#4 blindsides newbies) 0:00 Introduction
MiningStockEducation.com
Nov 11, 2023 #smallcapstocks #miningstocks #resourceinvesting
Bill Powers explains five reasons why junior mining investors fail in this MSE episode. He shares numerous insights gained by firsthand experience over the past eight years of focused investing in junior resources stocks. Learn and heed all five warnings, if you have not already. Number four frequently blindsides newbies.
2:19 Failure Reason #1
8:12 Failure Reason #2
13:14 Failure Reason #3
18:39 Failure Reason #4
22:12 Failure Reason #5
Video mentioned at 7:13 “Discerning Mining Promoter Claims”:
• Discerning Mining Promoter Claims wit...
Video mentioned at 8:47 “Discerning Bias”:
• Discerning Bias in the Mining Investm...
Video mentioned at 19:37 “Bre-X Scam”:
• Warren Irwin | Discerning Mining Stoc...
Video mentioned at 19:48 “Mining Scams”:
• Don’t Fall for Mining Stock Scams War...
MCEWEN MINING | Red Cloud's Fall Mining Showcase 2023
Red Cloud TV
3 days ago
Rob McEwen, Chairman & Chief Owner, Stefan Spears, V.P. Corporate Development, McEwen Mining joined us at Red Cloud's Fall Mining Showcase 2023, brought to you by Red Cloud Financial Services.
MCEWEN MINING | Red Cloud's Fall Mining Showcase 2023
Red Cloud TV
3 days ago
Rob McEwen, Chairman & Chief Owner, Stefan Spears, V.P. Corporate Development, McEwen Mining joined us at Red Cloud's Fall Mining Showcase 2023, brought to you by Red Cloud Financial Services.
Rob McEwen discusses hotel jewel at Los Azules
watch the interview here
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173199718
Wonder if Los Azules jewel city with hotel will have some other major attractions like the Cresta run.
Hey they got the ice ! hehe
The Cresta Run 125th Anniversary Film
I think thats Rob in green skeleton suit at 2:42 ish mark haha
$MUX
Wonder if Los Azules jewel city with hotel will have some other major attractions like the Cresta run.
Hey they got the ice ! hehe
The Cresta Run 125th Anniversary Film
I think thats Rob in green skeleton suit at 2:42 ish mark haha
$MUX
Wonder if Los Azules jewel city with hotel will have some other major attractions like the Cresta run.
Hey they got the ice ! hehe
The Cresta Run 125th Anniversary Film
I think thats Rob in green skeleton suit at 2:42 ish mark haha
$MUX
$STRRF Phase 2 Drill Program Begins at the Tartan Mine
Toronto, Ontario – November 8, 2023 – Canadian Gold Corp. (TSXV: CGC) (“Canadian Gold” or the “Company”) is pleased to announce the commencement of its Phase 2 drilling program at the Company’s 100% held Tartan Mine in the prolific Flin Flon-Snow Lake Greenstone belt, Manitoba.
The phase 2 drill program is currently underway and anticipated to occur over the next several months with a minimum of 2,500 metres of drilling planned. The objective of the program is to further test the continuity of gold mineralization within the Main Zone “MZ” to establish its potential size for resource estimation and mine planning purposes. The phase 1 drilling program conducted earlier this year successfully extended the MZ 325 m below the lower limit of the current mineral resource estimate, and increased the vertical extent of the gold mineralization by 61%1.
The MZ mineralization remains open for expansion, and the primary objective of this phase 2 drill program is to target the extension of high-grade mineralization around drill holes TLMZ23-26 and TLMZ21-12 (see Figure 1) by wedging from existing drill holes to reduce overall costs.
TLMZ23-26 (Target 1) – Hole TLMZ23-26 intersected the widest zone of continuous gold mineralization at the Tartan Mine, and returned 12.0 gpt gold over 8.0 m within 4.2 gpt gold over 53.7 m (see News Release August 23, 2023). This intersection is the deepest drilled on the MZ and has indicated the potential for a larger discovery at depth below the current resource estimate. The phase 2 drilling will test east and below this intersection which remains open for meaningful expansion (see Figure 1).
TLMZ21-12 (Target 2) – Hole TLMZ21-12 intersected a hanging wall zone “HWZ” that returned 23.8 gpt gold over 12.6 m including 47.6 gpt gold over 5.8 m (see News Release December 6, 2021). The phase 2 drilling will test the high-grade mineralization to the west and at depth with the use of directional drilling (see Figure 1).
1Indicated mineral resource of 1,180,000 tonnes at 6.3 gpt gold for 240 koz gold and inferred mineral resource of 240,000 tonnes at 4.9 gpt gold for 37 koz gold, both using a 3 gpt gold cutoff (Tartan NI 43-101 Technical Report authored by Mining Plus, April 2017, www.sedarplus.ca).
Figure 1: Main Zone long section illustrating Phase II drill targets.
https://canadiangoldcorp.com/phase-2-drill-program-begins-at-the-tartan-mine/
Phase 2 Drill Program Begins at the Tartan Mine
Toronto, Ontario – November 8, 2023 – Canadian Gold Corp. (TSXV: CGC) (“Canadian Gold” or the “Company”) is pleased to announce the commencement of its Phase 2 drilling program at the Company’s 100% held Tartan Mine in the prolific Flin Flon-Snow Lake Greenstone belt, Manitoba.
The phase 2 drill program is currently underway and anticipated to occur over the next several months with a minimum of 2,500 metres of drilling planned. The objective of the program is to further test the continuity of gold mineralization within the Main Zone “MZ” to establish its potential size for resource estimation and mine planning purposes. The phase 1 drilling program conducted earlier this year successfully extended the MZ 325 m below the lower limit of the current mineral resource estimate, and increased the vertical extent of the gold mineralization by 61%1.
The MZ mineralization remains open for expansion, and the primary objective of this phase 2 drill program is to target the extension of high-grade mineralization around drill holes TLMZ23-26 and TLMZ21-12 (see Figure 1) by wedging from existing drill holes to reduce overall costs.
TLMZ23-26 (Target 1) – Hole TLMZ23-26 intersected the widest zone of continuous gold mineralization at the Tartan Mine, and returned 12.0 gpt gold over 8.0 m within 4.2 gpt gold over 53.7 m (see News Release August 23, 2023). This intersection is the deepest drilled on the MZ and has indicated the potential for a larger discovery at depth below the current resource estimate. The phase 2 drilling will test east and below this intersection which remains open for meaningful expansion (see Figure 1).
TLMZ21-12 (Target 2) – Hole TLMZ21-12 intersected a hanging wall zone “HWZ” that returned 23.8 gpt gold over 12.6 m including 47.6 gpt gold over 5.8 m (see News Release December 6, 2021). The phase 2 drilling will test the high-grade mineralization to the west and at depth with the use of directional drilling (see Figure 1).
1Indicated mineral resource of 1,180,000 tonnes at 6.3 gpt gold for 240 koz gold and inferred mineral resource of 240,000 tonnes at 4.9 gpt gold for 37 koz gold, both using a 3 gpt gold cutoff (Tartan NI 43-101 Technical Report authored by Mining Plus, April 2017, www.sedarplus.ca).
Figure 1: Main Zone long section illustrating Phase II drill targets.
https://canadiangoldcorp.com/phase-2-drill-program-begins-at-the-tartan-mine/
Rob McEwen Discusses Mining And McEwen Mining
RocksAndStocksNews
Nov 10, 2023
Rob McEwen has had a stellar career in mining, in this interview he shares his insights into what the mining industry needs and efforts they are making at McEwen Mining to be a leader of change.
Rob McEwen Discusses Mining And McEwen Mining
RocksAndStocksNews
Nov 10, 2023
Rob McEwen has had a stellar career in mining, in this interview he shares his insights into what the mining industry needs and efforts they are making at McEwen Mining to be a leader of change.
McEwen Mining shares jump despite Q3 loss
with MMGYS sound track
by
Staff Writer | November 9, 2023 | 9:17 am Markets Canada Copper Gold
McEwen Mining NYSE: MUXTSX: $MUX shares are lifting off despite reporting on Wednesday a loss of C$18.5 million in the third quarter of 2023.
The Toronto-based company said it had a loss of C$0.39 per share, versus the Zacks Consensus Estimate of a loss of C$0.77. This compares to loss of C$0.21 per share a year ago.
The gold and silver mining company posted revenue of C$38.4 million in the period.
According to the miner, consolidated gold equivalent ounce (GEO) production in Q3 improved by 8% compared to both Q2 2023 and Q3 2022. McEwen produced 38,500 GEOs in Q3, and 104,400 GEOs for the nine months ended September 30.
The Fox mine complex in Ontario produced 11,200 oz. of gold and remains on track to meet guidance of 42,000 to 48,000 oz. for the year. The Gold Bar mine in Nevada produced 9,500 oz. of gold, an increase of 20% compared to Q2 2023. The San José mine in Argentina produced 17,800 GEOs, an increase of 3% over last quarter.
The company said it continues to advance exploration at Los Azules in Argentina, aiming to deliver all information required for the feasibility study.
During Q3, it completed planning and preparation work for the 2023-2024 drilling campaign, which has a target of 48,000 meters and includes additional exploration, infill, geotech, hydrological and hydrogeological drilling. The project is anticipated to produce an annual average of 322 million lb. of copper cathode over a 27-year life of mine.
McEwen invested C$18.5 million in Los Azules copper project during the quarter, primarily to build a winter camp, further improve road access, and to construct a logistics facility in San Juan.
The company reiterated its consolidated production guidance at the lower end of a range of 150,000 to 170,000 GEOs for the year.
Shares of McEwen surged 12.7% by 12:14 p.m. EDT Thursday. The company has a market capitalization of C$301 million ($218.5m).
https://www.mining.com/mcewen-mining-shares-jump-despite-q3-loss/
☺️
McEwen Mining shares jump despite Q3 loss
with MMGYS sound track
by
Staff Writer | November 9, 2023 | 9:17 am Markets Canada Copper Gold
McEwen Mining NYSE: MUX) (TSX: $MUX shares are lifting off despite reporting on Wednesday a loss of C$18.5 million in the third quarter of 2023.
The Toronto-based company said it had a loss of C$0.39 per share, versus the Zacks Consensus Estimate of a loss of C$0.77. This compares to loss of C$0.21 per share a year ago.
The gold and silver mining company posted revenue of C$38.4 million in the period.
According to the miner, consolidated gold equivalent ounce (GEO) production in Q3 improved by 8% compared to both Q2 2023 and Q3 2022. McEwen produced 38,500 GEOs in Q3, and 104,400 GEOs for the nine months ended September 30.
The Fox mine complex in Ontario produced 11,200 oz. of gold and remains on track to meet guidance of 42,000 to 48,000 oz. for the year. The Gold Bar mine in Nevada produced 9,500 oz. of gold, an increase of 20% compared to Q2 2023. The San José mine in Argentina produced 17,800 GEOs, an increase of 3% over last quarter.
The company said it continues to advance exploration at Los Azules in Argentina, aiming to deliver all information required for the feasibility study.
During Q3, it completed planning and preparation work for the 2023-2024 drilling campaign, which has a target of 48,000 meters and includes additional exploration, infill, geotech, hydrological and hydrogeological drilling. The project is anticipated to produce an annual average of 322 million lb. of copper cathode over a 27-year life of mine.
McEwen invested C$18.5 million in Los Azules copper project during the quarter, primarily to build a winter camp, further improve road access, and to construct a logistics facility in San Juan.
The company reiterated its consolidated production guidance at the lower end of a range of 150,000 to 170,000 GEOs for the year.
Shares of McEwen surged 12.7% by 12:14 p.m. EDT Thursday. The company has a market capitalization of C$301 million ($218.5m).
https://www.mining.com/mcewen-mining-shares-jump-despite-q3-loss/
McEwen Mining shares jump despite Q3 loss
Staff Writer | November 9, 2023 | 9:17 am Markets Canada Copper Gold
McEwen Mining NYSE: MUX) (TSX: $MUX)shares are lifting off despite reporting on Wednesday a loss of C$18.5 million in the third quarter of 2023.
The Toronto-based company said it had a loss of C$0.39 per share, versus the Zacks Consensus Estimate of a loss of C$0.77. This compares to loss of C$0.21 per share a year ago.
The gold and silver mining company posted revenue of C$38.4 million in the period.
According to the miner, consolidated gold equivalent ounce (GEO) production in Q3 improved by 8% compared to both Q2 2023 and Q3 2022. McEwen produced 38,500 GEOs in Q3, and 104,400 GEOs for the nine months ended September 30.
The Fox mine complex in Ontario produced 11,200 oz. of gold and remains on track to meet guidance of 42,000 to 48,000 oz. for the year. The Gold Bar mine in Nevada produced 9,500 oz. of gold, an increase of 20% compared to Q2 2023. The San José mine in Argentina produced 17,800 GEOs, an increase of 3% over last quarter.
The company said it continues to advance exploration at Los Azules in Argentina, aiming to deliver all information required for the feasibility study.
During Q3, it completed planning and preparation work for the 2023-2024 drilling campaign, which has a target of 48,000 meters and includes additional exploration, infill, geotech, hydrological and hydrogeological drilling. The project is anticipated to produce an annual average of 322 million lb. of copper cathode over a 27-year life of mine.
McEwen invested C$18.5 million in Los Azules copper project during the quarter, primarily to build a winter camp, further improve road access, and to construct a logistics facility in San Juan.
The company reiterated its consolidated production guidance at the lower end of a range of 150,000 to 170,000 GEOs for the year.
Shares of McEwen surged 12.7% by 12:14 p.m. EDT Thursday. The company has a market capitalization of C$301 million ($218.5m).
https://www.mining.com/mcewen-mining-shares-jump-despite-q3-loss/
Gold, Bitcoin rally over? Santa coming early for the S&P?
with MMGYS soundtrack
by
Jonathan Da Silva
Wednesday November 08, 2023 09:08
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
Commentaries & ViewsShare this article:
I was wrong about gold consolidating for a quick upward move to its all-time high, but prices are still correcting via time rather than volatility.
The 4-hour chart below shows the breakdown from the flag, which sent the price down another $20 in a hurry. The yellow highlighted box is the same support zone I showed when I originally suggested gold was looking droopy on the daily timeframe before flipping and winding up wrong. I’m not sure the price gets all the way down there, though. I would give bulls the benefit of the doubt still, as I expect this sideways period to lead to a move higher, regardless.
As far as stocks are concerned, more specifically the S&P, I remain bullish. Notwithstanding the suggestion for a long at the exact bottom last week, the chart is providing every reason to stay long. Price looks ready to get up to the top of the Bollinger band range. Looking at momentum, there’s plenty of fuel to propel the move.
The Bitcoin 4-hour chart has the same look to it as gold did before breaking down, but thus far HODLers are proving resilient. I would beware of a correction such as is transpiring in gold if Bitcoin were to break below the bottom of the range shown in the chart below
Of course, like with gold, my view on Bitcoin as far as stacking it has not changed. For that reason - I would also give Bitcoin bulls the benefit of the doubt; that is, dips are to be bought, in my opinion.
https://www.kitco.com/commentaries/2023-11-08/Gold-Bitcoin-rally-over-Santa-coming-early-for-the-S-P.html
Gold, Bitcoin rally over? Santa coming early for the S&P?
with MMGYS soundtrack
by
Jonathan Da Silva
Wednesday November 08, 2023 09:08
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
Commentaries & ViewsShare this article:
I was wrong about gold consolidating for a quick upward move to its all-time high, but prices are still correcting via time rather than volatility.
The 4-hour chart below shows the breakdown from the flag, which sent the price down another $20 in a hurry. The yellow highlighted box is the same support zone I showed when I originally suggested gold was looking droopy on the daily timeframe before flipping and winding up wrong. I’m not sure the price gets all the way down there, though. I would give bulls the benefit of the doubt still, as I expect this sideways period to lead to a move higher, regardless.
As far as stocks are concerned, more specifically the S&P, I remain bullish. Notwithstanding the suggestion for a long at the exact bottom last week, the chart is providing every reason to stay long. Price looks ready to get up to the top of the Bollinger band range. Looking at momentum, there’s plenty of fuel to propel the move.
The Bitcoin 4-hour chart has the same look to it as gold did before breaking down, but thus far HODLers are proving resilient. I would beware of a correction such as is transpiring in gold if Bitcoin were to break below the bottom of the range shown in the chart below
Of course, like with gold, my view on Bitcoin as far as stacking it has not changed. For that reason - I would also give Bitcoin bulls the benefit of the doubt; that is, dips are to be bought, in my opinion.
https://www.kitco.com/commentaries/2023-11-08/Gold-Bitcoin-rally-over-Santa-coming-early-for-the-S-P.html
MUX 6.69 -41 Wow, Now we know what bears really do in the woods !
,Gold lacks the juice to break through $2,000 next week, but analysts don't recommend shorting it
with MMGYS soundtrack
by
Neils Christensen
Friday November 03, 2023 15:43
(Kitco News) - Gold’s inability to convincingly break above $2,000 an ounce is creating some cautious sentiment in the marketplace, with some analysts saying that prices might need to consolidate in the near term before the precious metal takes a run at its all-time highs.
While analysts are not looking to short gold in the environment, some have said its price action is disappointing as gold has not benefited from a sharp drop in yields and weakness in the U.S. dollar.
Currently, at $1,999, gold has ended a three-week winning streak as it looks to close the week roughly unchanged from last Friday. However, prices are down nearly 1% from its opening gap at the start of the week.
Commodity analysts have said that gold continues to be driven by global geopolitical factors as waning fear in the marketplace takes its toll on the precious metal’s safe-haven allure. Although Israel’s war with Hamas continues to rage, the conflict remains within Gaza, keeping the ongoing chaos in the Middle East in check.
"The geopolitical crisis that has fueled gold’s rally is becoming exhausted,” said Christopher Vecchio.
Vecchio said that while a geopolitical event can provide the gold market with tradeable momentum, it does nothing to attract long-term investors. He noted that a gold rally based on a specific geopolitical event needs to see constant escalation to maintain its safe-haven bid.
Vecchio said he exited his gold position last week and will remain on the sidelines in the near-term as he expects prices to consolidate.
"The bulk of gold’s big move is done. But I would not want to short gold as the fundamental backdrop of a weaker dollar and lower bond yields are positive for gold,” he said. "I think gold can continue to grind higher, but it will be a frustrating grind for potential traders.”
David Morrison, senior market analyst at Trade Nation, described gold as a market that is in search of a new catalyst.
Ole Hansen, head of commodity strategy at Saxo Bank, said that he is neutral on gold; he also noted that a consolidation around current levels would be healthy. The neutral outlook comes after gold saw a nearly 7% rally in October, its best monthly performance since March.
"Gold has paused after rallying almost 200 dollars last month after profit-taking emerged once again above $2,000 per ounce. Having rallied so hard in a short space of time, the market needs consolidating, but so far, the correction has been relatively shallow, with support appearing at $1,953, ahead of $1,933, the 200-day moving average and 38.2% retracement of the mentioned rally,” said Hansen.
On the downside, Hansen said that gold prices would have to fall back to $1,900 an ounce to put this new uptrend at risk.
With little economic data on the docket next week, analysts have said investors will continue to digest the Federal Reserve’s monetary policy decision.
The Fed's monetary policy is irrelevant and won't stop gold's push above $2,000 - abrdn's Robert Minter
Although the U.S. central bank left interest rates unchanged for the second consecutive time in this tightening cycle, Federal Reserve Chair Jerome Powell maintained his tightening bias.
"Is monetary policy restrictive enough to bring inflation down to 2%? That is what we are asking ourselves," said Powell in his press conference following the monetary policy decision.
"The Fed has left the door open to another rate hike. Even though we are confident that interest rates have already peaked, market participants are nonetheless likely to remain cautious in this respect. Assuming there is no further escalation in the Middle East, the upside potential for the gold price will probably be severely limited,” said Barbara Lambrecht, commodity analyst at Commerzbank.
Markets will get a chance to hear more from Powell as he participates in a panel discussion on "Monetary Challenges in a Global Economy" at a conference in Washington.
The only major economic report to be released next week will be the University of Michigan’s preliminary consumer sentiment survey.
Last month’s revision to the survey surprised markets as one-year consumer inflation expectations rose 4.2%. Powell, during his press conference, dismissed the reading, saying it was an outlier and most consumer surveys show inflation expectations remain "well anchored.”
Next week’s data
Monday: Reserve Bank of Australia monetary policy decision
Thursday: Weekly U.S. unemployment claims; Powell participates in a panel discussion
Friday: University of Michigan preliminary consumer sentiment
https://www.kitco.com/news/2023-11-03/Gold-lacks-the-juice-to-break-through-2-000-next-week-but-analysts-don-t-recommend-shorting-it.html
Rhyming - Busts and Bubbles
with MMGYS movie scenes
"It was around July 2020, when we were all locked down and not knowing what was going on with our lives, our personal economies, our health, and our families, when I realized that the Federal Reserve had doubled the size – or even more so — of its book of assets. It had created about $5 trillion worth of money in a very short period of time.
During that time, the markets went from being very afraid and down to being very, very high. A lot of people said, well, we’re all at home using Zoom, so therefore the market just rebounded by so much. But that was just a small part of it. The bigger part was that money became available at such an immense level and therefore the distortion between where money goes in the financial markets and where it doesn’t go in the real economy became permanent. At that moment I saw that this can happen in any amount, at any time. There’s no restriction, no transparency, no responsibility."
Nomi Prins, You’re Living in a World Wrought by the Fed, 17 November 2022
"Unless one has placed oneself on the side of the oppressed, to feel with them, one cannot understand. As soon as men know that they can kill without fear of punishment or blame, they kill; or at least they encourage killers, with approving smiles. Evil when we are in its power is not felt as evil, but as a necessity, or even a duty."
Simone Weil
"Once central banks unleashed monetary policy to accommodate mega-banks, subsidize Wall Street financiers, and bolster global markets, the very idea of free and open markets and laissez-faire investing died. No one wanted to call the Fed’s QE a Ponzi scheme. But it was.
Whether it was done to soothe a stock market crash, a ruptured subprime housing market bubble, or a pandemic, the Fed’s response to the financial crisis of 2008 and later crises has confirmed that it will always seek a way to grease the wheels of capitalism for its wealthiest participants and private banks. The results speak for themselves."
Nomi Prins, Permanent Distortion: How the Financial Markets Abandoned the Real Economy, October 11, 2022
As you may have likely heard the economic data this morning from the Non-Farm Payrolls report was a big miss, but apparently not great enough to swing the fear vector all the way around.
Hence, we have the 'goldilocks' effect.
Stocks roared higher, on expectations of no more Fed rate increases anytime soon.
And wistful yearnings for a rate cut.
The Dollar tanked.
Gold and silver rallied. Gold was held below the optic resistance at $2000.
VIX fell again, showing some abandonment of risk concerns, and a generally happy-go-lucky attitude, at least compared to the short term.
I rewatched the movie Margin Call last night. I think the last time was closer to its release around 2011. Has it really been that long?
My son said it was a good movie to watch. I said I had seen it, and had lived it. And the crash before that. And that. And that.
A stunning cast illuminates a realistic but somewhat spare depiction of unbridled greed going badly, for some. It was spare, perhaps, reflecting the characters who were really that banal.
The same sorts of people make the same egregious errors and fiduciary lapses, again and again, and are richly rewarded and rarely punished, pleading ignorance and benign intentions.
Bubbles and busts are acts of nature, right? Maybe the unnatural nature.
Who could have seen it coming— with their eyes closed and their greedy maws open?
Have a pleasant weekend.
https://jessescrossroadscafe.blogspot.com/
Rhyming - Busts and Bubbles
with MMGYS movie scenes
"It was around July 2020, when we were all locked down and not knowing what was going on with our lives, our personal economies, our health, and our families, when I realized that the Federal Reserve had doubled the size – or even more so — of its book of assets. It had created about $5 trillion worth of money in a very short period of time.
During that time, the markets went from being very afraid and down to being very, very high. A lot of people said, well, we’re all at home using Zoom, so therefore the market just rebounded by so much. But that was just a small part of it. The bigger part was that money became available at such an immense level and therefore the distortion between where money goes in the financial markets and where it doesn’t go in the real economy became permanent. At that moment I saw that this can happen in any amount, at any time. There’s no restriction, no transparency, no responsibility."
Nomi Prins, You’re Living in a World Wrought by the Fed, 17 November 2022
"Unless one has placed oneself on the side of the oppressed, to feel with them, one cannot understand. As soon as men know that they can kill without fear of punishment or blame, they kill; or at least they encourage killers, with approving smiles. Evil when we are in its power is not felt as evil, but as a necessity, or even a duty."
Simone Weil
"Once central banks unleashed monetary policy to accommodate mega-banks, subsidize Wall Street financiers, and bolster global markets, the very idea of free and open markets and laissez-faire investing died. No one wanted to call the Fed’s QE a Ponzi scheme. But it was.
Whether it was done to soothe a stock market crash, a ruptured subprime housing market bubble, or a pandemic, the Fed’s response to the financial crisis of 2008 and later crises has confirmed that it will always seek a way to grease the wheels of capitalism for its wealthiest participants and private banks. The results speak for themselves."
Nomi Prins, Permanent Distortion: How the Financial Markets Abandoned the Real Economy, October 11, 2022
As you may have likely heard the economic data this morning from the Non-Farm Payrolls report was a big miss, but apparently not great enough to swing the fear vector all the way around.
Hence, we have the 'goldilocks' effect.
Stocks roared higher, on expectations of no more Fed rate increases anytime soon.
And wistful yearnings for a rate cut.
The Dollar tanked.
Gold and silver rallied. Gold was held below the optic resistance at $2000.
VIX fell again, showing some abandonment of risk concerns, and a generally happy-go-lucky attitude, at least compared to the short term.
I rewatched the movie Margin Call last night. I think the last time was closer to its release around 2011. Has it really been that long?
My son said it was a good movie to watch. I said I had seen it, and had lived it. And the crash before that. And that. And that.
A stunning cast illuminates a realistic but somewhat spare depiction of unbridled greed going badly, for some. It was spare, perhaps, reflecting the characters who were really that banal.
The same sorts of people make the same egregious errors and fiduciary lapses, again and again, and are richly rewarded and rarely punished, pleading ignorance and benign intentions.
Bubbles and busts are acts of nature, right? Maybe the unnatural nature.
Who could have seen it coming— with their eyes closed and their greedy maws open?
Have a pleasant weekend.
https://jessescrossroadscafe.blogspot.com/
Gold lacks the juice to break through $2,000 next week, but analysts don't recommend shorting it
with MMGYS soundtrack
by
Neils Christensen
Friday November 03, 2023 15:43
(Kitco News) - Gold’s inability to convincingly break above $2,000 an ounce is creating some cautious sentiment in the marketplace, with some analysts saying that prices might need to consolidate in the near term before the precious metal takes a run at its all-time highs.
While analysts are not looking to short gold in the environment, some have said its price action is disappointing as gold has not benefited from a sharp drop in yields and weakness in the U.S. dollar.
Currently, at $1,999, gold has ended a three-week winning streak as it looks to close the week roughly unchanged from last Friday. However, prices are down nearly 1% from its opening gap at the start of the week.
Commodity analysts have said that gold continues to be driven by global geopolitical factors as waning fear in the marketplace takes its toll on the precious metal’s safe-haven allure. Although Israel’s war with Hamas continues to rage, the conflict remains within Gaza, keeping the ongoing chaos in the Middle East in check.
"The geopolitical crisis that has fueled gold’s rally is becoming exhausted,” said Christopher Vecchio.
Vecchio said that while a geopolitical event can provide the gold market with tradeable momentum, it does nothing to attract long-term investors. He noted that a gold rally based on a specific geopolitical event needs to see constant escalation to maintain its safe-haven bid.
Vecchio said he exited his gold position last week and will remain on the sidelines in the near-term as he expects prices to consolidate.
"The bulk of gold’s big move is done. But I would not want to short gold as the fundamental backdrop of a weaker dollar and lower bond yields are positive for gold,” he said. "I think gold can continue to grind higher, but it will be a frustrating grind for potential traders.”
David Morrison, senior market analyst at Trade Nation, described gold as a market that is in search of a new catalyst.
Ole Hansen, head of commodity strategy at Saxo Bank, said that he is neutral on gold; he also noted that a consolidation around current levels would be healthy. The neutral outlook comes after gold saw a nearly 7% rally in October, its best monthly performance since March.
"Gold has paused after rallying almost 200 dollars last month after profit-taking emerged once again above $2,000 per ounce. Having rallied so hard in a short space of time, the market needs consolidating, but so far, the correction has been relatively shallow, with support appearing at $1,953, ahead of $1,933, the 200-day moving average and 38.2% retracement of the mentioned rally,” said Hansen.
On the downside, Hansen said that gold prices would have to fall back to $1,900 an ounce to put this new uptrend at risk.
With little economic data on the docket next week, analysts have said investors will continue to digest the Federal Reserve’s monetary policy decision.
The Fed's monetary policy is irrelevant and won't stop gold's push above $2,000 - abrdn's Robert Minter
Although the U.S. central bank left interest rates unchanged for the second consecutive time in this tightening cycle, Federal Reserve Chair Jerome Powell maintained his tightening bias.
"Is monetary policy restrictive enough to bring inflation down to 2%? That is what we are asking ourselves," said Powell in his press conference following the monetary policy decision.
"The Fed has left the door open to another rate hike. Even though we are confident that interest rates have already peaked, market participants are nonetheless likely to remain cautious in this respect. Assuming there is no further escalation in the Middle East, the upside potential for the gold price will probably be severely limited,” said Barbara Lambrecht, commodity analyst at Commerzbank.
Markets will get a chance to hear more from Powell as he participates in a panel discussion on "Monetary Challenges in a Global Economy" at a conference in Washington.
The only major economic report to be released next week will be the University of Michigan’s preliminary consumer sentiment survey.
Last month’s revision to the survey surprised markets as one-year consumer inflation expectations rose 4.2%. Powell, during his press conference, dismissed the reading, saying it was an outlier and most consumer surveys show inflation expectations remain "well anchored.”
Next week’s data
Monday: Reserve Bank of Australia monetary policy decision
Thursday: Weekly U.S. unemployment claims; Powell participates in a panel discussion
Friday: University of Michigan preliminary consumer sentiment
https://www.kitco.com/news/2023-11-03/Gold-lacks-the-juice-to-break-through-2-000-next-week-but-analysts-don-t-recommend-shorting-it.html
Gold lacks the juice to break through $2,000 next week, but analysts don't recommend shorting it
with MMGYS soundtrack
by
Neils Christensen
Friday November 03, 2023 15:43
(Kitco News) - Gold’s inability to convincingly break above $2,000 an ounce is creating some cautious sentiment in the marketplace, with some analysts saying that prices might need to consolidate in the near term before the precious metal takes a run at its all-time highs.
While analysts are not looking to short gold in the environment, some have said its price action is disappointing as gold has not benefited from a sharp drop in yields and weakness in the U.S. dollar.
Currently, at $1,999, gold has ended a three-week winning streak as it looks to close the week roughly unchanged from last Friday. However, prices are down nearly 1% from its opening gap at the start of the week.
Commodity analysts have said that gold continues to be driven by global geopolitical factors as waning fear in the marketplace takes its toll on the precious metal’s safe-haven allure. Although Israel’s war with Hamas continues to rage, the conflict remains within Gaza, keeping the ongoing chaos in the Middle East in check.
"The geopolitical crisis that has fueled gold’s rally is becoming exhausted,” said Christopher Vecchio.
Vecchio said that while a geopolitical event can provide the gold market with tradeable momentum, it does nothing to attract long-term investors. He noted that a gold rally based on a specific geopolitical event needs to see constant escalation to maintain its safe-haven bid.
Vecchio said he exited his gold position last week and will remain on the sidelines in the near-term as he expects prices to consolidate.
"The bulk of gold’s big move is done. But I would not want to short gold as the fundamental backdrop of a weaker dollar and lower bond yields are positive for gold,” he said. "I think gold can continue to grind higher, but it will be a frustrating grind for potential traders.”
David Morrison, senior market analyst at Trade Nation, described gold as a market that is in search of a new catalyst.
Ole Hansen, head of commodity strategy at Saxo Bank, said that he is neutral on gold; he also noted that a consolidation around current levels would be healthy. The neutral outlook comes after gold saw a nearly 7% rally in October, its best monthly performance since March.
"Gold has paused after rallying almost 200 dollars last month after profit-taking emerged once again above $2,000 per ounce. Having rallied so hard in a short space of time, the market needs consolidating, but so far, the correction has been relatively shallow, with support appearing at $1,953, ahead of $1,933, the 200-day moving average and 38.2% retracement of the mentioned rally,” said Hansen.
On the downside, Hansen said that gold prices would have to fall back to $1,900 an ounce to put this new uptrend at risk.
With little economic data on the docket next week, analysts have said investors will continue to digest the Federal Reserve’s monetary policy decision.
The Fed's monetary policy is irrelevant and won't stop gold's push above $2,000 - abrdn's Robert Minter
Although the U.S. central bank left interest rates unchanged for the second consecutive time in this tightening cycle, Federal Reserve Chair Jerome Powell maintained his tightening bias.
"Is monetary policy restrictive enough to bring inflation down to 2%? That is what we are asking ourselves," said Powell in his press conference following the monetary policy decision.
"The Fed has left the door open to another rate hike. Even though we are confident that interest rates have already peaked, market participants are nonetheless likely to remain cautious in this respect. Assuming there is no further escalation in the Middle East, the upside potential for the gold price will probably be severely limited,” said Barbara Lambrecht, commodity analyst at Commerzbank.
Markets will get a chance to hear more from Powell as he participates in a panel discussion on "Monetary Challenges in a Global Economy" at a conference in Washington.
The only major economic report to be released next week will be the University of Michigan’s preliminary consumer sentiment survey.
Last month’s revision to the survey surprised markets as one-year consumer inflation expectations rose 4.2%. Powell, during his press conference, dismissed the reading, saying it was an outlier and most consumer surveys show inflation expectations remain "well anchored.”
Next week’s data
Monday: Reserve Bank of Australia monetary policy decision
Thursday: Weekly U.S. unemployment claims; Powell participates in a panel discussion
Friday: University of Michigan preliminary consumer sentiment
https://www.kitco.com/news/2023-11-03/Gold-lacks-the-juice-to-break-through-2-000-next-week-but-analysts-don-t-recommend-shorting-it.html
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