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DOJ Accuses JPMorgan's Precious Metals Trading Desk Of Being A Criminal Enterprise
Yeah, what ever.............................I'm sure they'll be all over it, until the threats and blackmailing begin, then "just-us", followed by................................crickets...........................................then my shocked expression:|
https://www.zerohedge.com/markets/three-jpmorgan-traders-charged-massive-gold-market-manipulation-fraud
What about the traders "handlers", those are the ones that need to go to prison, but seem to be above the law, never being exposed or indicted.
Yup, all fixed again! TPTB have been given their marching orders to smack these pesky PM's back the hell down...we just can't have 1500+ gold and 19.50 silver, lest the sheeple start questioning our stock market/economy and the all mighty dollar. And to think all this predicated on yet another well worn lie about trade talks with China once again resuming in October, BWA,HA,HA,HA!
I'll check it out, RNC (RNKLF) did a bought deal right after we last discussed them, that closes on the 20th. RNKLF is currently @ .285, unfortunately all my funds are tied up there, FYI, should see a nice 50% recovery after the BD closing.
DCGD now @.58, post from "gonzilee" at ihub DCGD board:
The drop today was inevitable given that the company is not even worth $5 mil and was trading at 100x that level yesterday. DCGD will return to .02 there about if it is not halted or suspended before that time. This was a horribly manipulated stock to levels that were far beyond reasonable. DCGD is still an empty shell. All the talk of a major merger has not panned out in the slightest. There is literally no value in this shell at this time, and people drove the price up on fantasy. Pure fantasy.
Folks also seem to forget that JC and his company purchased over 125 mil shares for .005. Why anybody would think that he would turn around and "buy" shares in his own empty shell at insane multiples above the price he originally bought his equity stake for is beyond me. He's not a fool. There is zero reason for him to buy stock at these levels. Not even at .05, because that would be 10x what he paid for his shares to begin with.
Cork, you should have taken some off the table yesterday @2.18. DCGD now @.81...down over 60% in less than 24hrs! To volatile for me, too many unforeseen variables at work that are beyond my paygrade.
Discovery Gold Corporation (DCGD) now @2.18 is on a tear, don't fully understand it yet, but no one here is talking about it anymore, ya'all must have panic sold when it dropped to .50 after informing me about it.
https://finance.yahoo.com/quote/DCGD?p=DCGD
What an absolute joke these markets are!
Not anymore, and climbing. It's a travesty when you think that the ratio was once an accepted 16:1.
Funny you should mention that, they did recently change their name, they are actually "RNC Minerals" now. They hold 28% interest and control of the Canadian Dumont property (with recently completed Feasibility Study), one of the four largest nickel reserves in the world and still mine nickel at Beta Hunt as well. Nickel is way up in price and currently the market is placing no value on RNC's Dumont holding.
http://www.rncminerals.com/2019-05-30-RNC-Minerals-Announces-Positive-Results-of-Dumont-Nickel-Cobalt-Project-Updated-Feasibility-Study
Gold opens straight up to 1550 tonight!
Yeah, I know right, I wish I had ALL my shares this cheap, and news has only gotten better! It is now cheaper than when I first mentioned it @.36.
One of these days Mr. Market will get it, probably will take a couple solid quarters. New mine plan is due this week, Paul Huet is running things now, he took over at Klondex gold then sold it for a nice premium to shareholders:
" Klondex Mines announced that it has agreed to be acquired by Hecla Mining for $462 million in cash and shares, representing a 59% premium to its trading price over the past 30 days. Under the terms of the deal, Klondex investors may elect to receive either $2.47 per share in cash or 0.6272 of a share of Hecla, subject to proration. In addition to that, Klondex investors will also receive shares of a newly formed company, Klondex Canada. Worked out well for shareholders. "
This is just the beginning...http://www.rncminerals.com/2019-08-21-RNC-Minerals-Produces-7-873-ounces-of-gold-in-July-2019
New RNC Investor Presentation. RNKLF @.34, beats blindly and emotionally throwing darts at risky mining jurisdictions in this penny casino PM mining environment.
http://www.rncminerals.com/presentations
Interview with RNC Managing Director of Mining Operations at Beta Hunt/Higginsville mines, Graeme Sloan:
https://insidexploration.com/interview-with-rnc-minerals-graeme-sloan/
RNC (RNX.TO/RNKLF) Beta Hunt Mine tour:
That's what I thought...nothing has changed, still garbage @.004, suckering in newbie's that don't know the history, next up, business as usual...more dilution!
Isn't this the same company Rob McEwen of MUX pumped then sold off years ago, then bled down to nothing, ultimately filing bankruptcy? How the hell are they already back to .64?
Apparently TRQ is waiting on some sort of decision from the GOM (Government Of Mongolia?) that a loan hedges on. That along with 2B shares outstanding and 4.2B debt is definitely weighing on the share price.
Here are a couple quotes from Yahoo finance message board:
"Banks are willing to loan but GOM might oppose and there's a limit as per Dubai agreement, trq can borrow, tops $1.2b. I just don't want to speculate now before GOM announces its position. GOM and RIO need both to compromise for OT to work out as per new deadline 2023. If there's no compromise, I believe production date will move further as IMO standoff will occur."
"I think you are minimizing risk. Now all depends on what GOM will announce. If GOM is not willing to compromise and accept other concessions (new ore lab, decreased interest, open books vs Dubai agreement amendment ), there will be a freeze of OT UG. At this point, only RIO can complete UG (even thou it's not RIO but subcontractors are designing UG). Soon we should know everything. RIO was optimistic during CC."
But then yesterday was this:
"Anyone Notice yesterday's extended sessions trades? Anyone else notice the 30M shares traded after hours yesterday. I see 6 trades of 5M each between 16:07 and 16:14. Will be very interesting at the open as this obviously was an arranged trade that may signal the bottom of this nightmare."
https://finance.yahoo.com/quote/TRQ/community?p=TRQ&.tsrc=fin-srch
There is a lot going on here....
Taking a look, a couple items stand out for the 2019 Q2, ouch, I'll dig a little deeper though:
For Q2'19, the Company recorded a loss of $736.7 million, and a loss attributable to owners of Turquoise Hill of $446.5 million or $0.22 loss per share. Results reflect the impact of adjustments made for the $0.6 billion impairment of the Oyu Tolgoi cash-generating unit and deferred tax asset derecognition adjustments in the period.
The Company received an automatic notice from the New York Stock Exchange (the "NYSE") on July 31, 2019 that the Company is no longer in compliance with the NYSE's continued listing standards because the average closing price of the Company's common shares has fallen below US$1.00 per share over a consecutive 30 trading-day period. The Company will notify the NYSE that it intends to pursue measures to cure the share price non-compliance. Further details can be found below, under Corporate Activities.
https://stockhouse.com/news/press-releases/2019/07/31/turquoise-hill-announces-financial-results-and-review-of-operations-for-the#UymYYKgCsXeFhBrZ.99
https://stockhouse.com/news/press-releases/2019/03/14/turquoise-hill-announces-financial-results-and-review-of-operations-for-2018
Thanks Cork, I'll get back with you.
Those shady non-GAAP accounting rules I suspect.
Cork, while the jury is still out on reason for yesterday's high buy volume, I'm reading 35,557oz total production for 2018 and only 6,326oz for Q1 2019, where do you come up with 50k?
2018
https://stockhouse.com/news/press-releases/2019/04/29/galane-gold-ltd-releases-financial-and-operating-results-for-2018
2019 Q1
https://stockhouse.com/news/press-releases/2019/05/29/galane-gold-ltd-releases-financial-and-operating-results-for-q1-2019
Not bashing, just doing my DD...
Over the years I have become very cynical regarding MM's and the shady games they are capable of, especially with less regulated penny and sub-penny stocks, and yes, jurisdiction, relaxed reporting guidelines and financials are part of it as well. I won't argue that there is isn't money to be made if you are quick on the draw, but today, the ordinary guy has to be quicker than HFT computers and that is typically not going to happen.
I wish you well with your trades, I didn't mean to come off so negative, it's just the world we live in, GGGOF might work out well and someday you can say I told you so, but that's just not my style anymore.
Good commentary on today's 2/10 bond inversion, subsequent market response and what's to come.
Aaaannnnd a sell order of only 35k took it right back down.
I'm always leery of those straight up 40% gains on no news with penny stocks under.10, too easy/cheap for MM's to game the price.
Jeffery Epstein found dead in his cell by suicide, while on suicide watch....how convenient. Case closed, will Assange be next to be Arkancided?
https://market-ticker.org/akcs-www?post=236573
Accounting for 5:1 reverse split
12/28/18------ $2.85
8/9/19------ $8.25
Still pretty damn nice though.
Thanks Cork, but I'll pass, too many intangible variables, if I want volatility and risk, I'll continue playing JR's with production, revenue, operations and assets.
DCGD looks like some sort of scam to me, straight up in 1.5 months on what? No production, no assets, no revenue, no operations...
Discovery Gold Corporation does not have significant operations. The company intends to merge with another entity. Previously, it was involved in the gold exploration and development activities. The company was formerly known as Norman Cay Development, Inc. and changed its name to Discovery Gold Corporation in July 2012. Discovery Gold Corporation was founded in 2010 and is based in Fort Lauderdale, Florida.
https://finance.yahoo.com/quote/DCGD?p=DCGD
HXPN sitting down from .34 to .05 today, I fear this one isn't far behind, the YTD charts look suspiciously identical, hmmmm, be careful out there.
https://finance.yahoo.com/quote/HXPN?p=HXPN
But, but, but the economy is stronger than it has ever been...Trump said so, what a joke! Can you imagine what would happen if they ever rescinded non-GAAP "mark to fantasy" accounting practices back to GAAP.
Awe nuts!
It is simply astounding that the US yield curve is completely inverted where even the 1 month yields more than the 30 year, and TPTB are able to paper over it and trivialize the historical significance of it.
AAAH DAMN, I BOUGHT 100,000 SHARES OF HXPN @.33 and am now down 66% a week later @.11, where's sunny, he's got some splain'n to do!
Spotted it a mile away (ALL CAPS + JUST A HOLDING COMPANY, NO REVENUE, NO PRODUCTION, NO FINANCIAL INFO, WEBSITE INACTIVE:), not even worth the debate...just look at sunny's post history with other companies of all genres, most are now worthless after initial pumping by IH traders.
Yup, that is what should happen with a PM where the value is correctly derived from the underlying asset, not flipped 180 degrees like physical gold/silver, where it's underlying asset is a fake rigged paper price.
A quick 4th of July view...George Carlin was sooo right, may he RIP.
Take your worthless spam and peddle it elsewhere, you'll find no suckers on this board, have a nice day!
Well the dollar is weak, Trump wants it even weaker, they can't have it both ways, the mathematics simply will not allow it.