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Very quiet about reported vault fire
Looks like most of the PM action wasin by time of the London pm fix, although gold did see strengh\th to test toward 1340 afterwards
The heavy storms were north of me so this was the first sunny day since last Thursday, warmly cool with the grunion running tonight
Silver looking a little weak right now, but after the run today there is room for second thoughts.
If I am not mistaken this week pretty much ends the month with what is standing for delivery in August being fixed this week.
It will be interesting to see what conspires.
If this holds true, JPM vault fire, just watch how nothing much gets said of it in official circles, despite it being all to convenient to be simply coincidental.
It is already quite odd how, already after 8 am here at the sunny CA beach, the news feeds per Google are not showing much other than the lead story that broke the news . . . not even a posting on Kitco at the moment !
(Guess I will find out once I drag myself back from the surf and sand
Nice to see AG outpace AU, around 2:1, leaping past 20.0
MUX is still tightly tied to AG, although El Gallo is starting to make MUX an AU groupir
That's too funny or is it sad. The voice of FB has to do some work they should make it a 24/7 task
Ditto as far as successful goes. No revenue in 2014 was the message
Thanks for capturing the FB posts. All the world should know that i Hub board is the place to track the history and behavior of the FB site and its voice
They won't have any revenue at the end of 2014 even if testing completes Aug 10 and is successful
Nice summary read. Bottom line : too big to prosecute
fyi the link that was given is to the same May summary but the title that was given is for the early June MR announcing that the full report has been filed (and so available instead of just the May summary)
We are still at a point where the drilling from August 2012 to date is not included in an estimate of resources.
Both seem to be a perpetual wait, so no difference there.
The old Wanderport seemed to be polite and knowledgeable about their business.
The new Wanderport is just plain snotty and rude and repeatedly demonstrates it does not know what is going on or when it might go on.
IMO the new Wanderport is to be preferred as much of the old disguise has fallen away allowing a more true and direct view of the three stooges.
JMO
Since you asked everyone's opinion Z . . . I would put the odds on that at somewhere between zero and zero.
JMO of course.
Any btw "We'll never know why things are as they are unless the heater is a success and . . . " is not quite complete, as if there is prosecution that results it may also let us know the story.
That's a very good question. If you look at the metals' prices used to determine the cut off grade for the pit optimization you might end up with the same question about the pit, short of a return to sane precious metal prices. As I understand the present mine (potential) strategy the underground is basically a portal low in the pit to access the part of the resource too deep for the pit methods, so it is not exactly like there is a lot of ramping to depth through barren material to get to minable resource.
They are using for underground cut-off 125% of the cut-off for pit, which is a sizable estimate for the increased cost.
Personally I would like to see the numbers if everything was redone to use say a 3 month trailing average metals prices instead of what I assume is the more usual 3 year trailing average.
IMO with KTN the real story is the blue-sky potential, the hints of gold now, the diatreme extent in the land package, etc.. Is the sliver/lead/zinc representative of halo mineralization cover associated with primarily gold mineralization closer to source ? It is imo all pretty early stage on that front.
you have just so well summed it up Stanner
and the silence of no voiced outrage is resounding
Nice collection of head scratchers.
It reinforces that Rumsfeld forgot, or kindly omitted, that there are also unknown knowns (or perhaps his not mentioning it was done as evidence to the very thing?)
These things that are mentioned in the news, are easily recognized as signs of the instability and fragility of the current passing times but which many or most seem to be failing to allow to have their full force of impact just might be examples of unknown knowns, glimpsed for what they are but then ignored as it is so much easier.
that FB crowd is getting pretty good
must have been bored on a ero volume day
IMO time will let them make a name that is more widely known, especially if the metals prices allow them to advance the plan for the project pipeline. I don't worry over this one.
That, plus from what I can understand, the total short position in the precious metals has been significantly reduced over the past few months (but then, wasn't that a major part of why there was the two-stage push to floor the price?)
MUX appears like it may be pulling away from being more closely tied to moves in silver than to moves in gold. Some recognition forming out there that MUX is now a gold producer?
Bank of England shaking the financials a bit today, and the Bernanke speak prep'd to nudge the US market some direction (or not) is seeing the metals in a cautious stance this morning.
Thanks for the nice words MoneyJames. They remind me I should say the following.
A couple mentions / reminders for everyone.
My opinions are just that, based off too many years observing other's conspiracy theories, actual events - particularly the ones that get little news service coverage it seems more and more each passing year, many decades holding physical before it was possible for a small guy to play paper, etc.
Everything I project does need a healthy dash of salt
I use a free account so regret that I cannot, and please understand that I cannot, reply to PMs.
Well, good luck out there today. Yesterday saw some interesting positioning going on in minor producers and the better exploration juniors considering it was an up and down, no major move day for the metals. It could turn out to be a rather revealing rest of the week.
Cheers - back to the calming ocean rhythms now for me
I am expecting a major readjustment in BRD to the upside once gold shows it has established downward resistance in the 1350 to 1400 area. Until then I fear BRD may be a back-burner play for many.
When the silver certificate was withdrawn and coinage temporarily moved to 40% silver content for only the half dollar, 1963/1964ff timeframe I remember very clearly that there were a number of stories about how much silver the US government held. If I recall correctly the number was 193 million ounces. What I do clearly recall is that supposedly much of the silver was inside mufti-feet think masonry walls at West Point. Apparently, during the depression of the early 1890's the US government stimulated the economy of and the expansion into the west by supporting the mining industry by buying up the silver produced (for example the Comstock load). This was shipped east to New York where a new "mess hall" building was under construction and stacked within one of the inner walls.
I went looking for information on that a couple months ago, not digging long and hard but more than just a casual Google search and I could find nothing about this anymore.
(and yes, I was involved with silver back then and ever since)
It's not August yet
De nada, Thx. I should have included one other key piece . . . that the operatives (bullion banks) are getting positioned (both by getting out of the enormous short position and by going increasingly long) for a time of rising PM prices. Is that on their own or on guidance from their masters?
The title's info is interesting, but the article text
Exactly NYBob, and to me the big statement in the report is
yes, true, but a moot point if as I hear the majors are not shopping for anything (except maybe good jurisdiction world-class and well advanced) in the way of exploration projects, and in fact are being pretty shy of shopping among what is already in production.
Agreed for the most part. I did realize you were speaking to the potential to make some money, whether by recovering on what is held and/or doing some flipping into a rising pps by your ending comment. I just got a chuckle as, taking that line out of context and letting it stand it pretty much could have been said by some scammer designing how to use a shell to profit once some potential technology no one has been able to capitalize on had been located.
Thanks for posting . . . good interview.
After October mid-term elections the road for the next couple years (or year given the next election ramp-up/cycle) should be in much better focus.
Seemed overdone to me also, that is sort of what happens when selling results in 15% of the shares outstanding changing hands. Toronto volume just short of 18 million shares.
It is not just if it is efficient, for example it annont cost a thousand buks either..
I got a chauck when you stated
read the corporate update
water issues causing delay, added expense
imo in this case Dr KS's observation is highly relevant. The drain of available physical supply seems to be well, and widely documented.
Why do I "hold my bets" and/or often sound so wishy-washy about where the PMs are going in the near to intermediate term ?
It is pretty simple actually, as to me it is not about predicting the metals based either on their fundamentals or on past performance.
It is rather about predicting what is most needed by and most profitable to the manipulating bullion banks, and also (which can conflict with and/or determine the first) what is most needed by and directed by their (consenting) masters (i.e. the sovereigns, as in the US via the market intervention/stabilization committee). I tend to believe that there is a tension between the objectives of the masters and the operatives that is cooperatively resolved so the the consenting masters (who look the other way regarding regulations, etc.) make sure that there is room for the operatives to profit.
Now, most of these operatives are highly diversified and have been the major beneficiaries of QE, reaping massive windfall profits from QE. They have no incentive to end their game, but every incentive to make sure it continues and remains exclusive to the few participants (if not fewer).
It is for example in that context that I see the rise in oil on the pretext of MidEast (Eqypt currently) uncertainty. High oil slows the US economy (and elsewhere) and high enough above $100 it stalls it. That leads to continued QE. etc, etc
For the PMs, for now the last thing the controlling masters want is anything that shakes the confidence game of the fiat system. The QE pump is barely able to keep the tire inflated but can't get the pressure up, but it is one of the few options available to avoid a flat tire. So whatever shakes confidence in the fiat is a target, and that includes PM valuations.
Will it all come down like a house of cards on a shaken table? Sure. Eventually. But calling the when is a mater of calling what shakes the table and when.
JMO
You are probably right about a skyrocket. Once enough digest what unending QE (here and abroad) means . . .
Not sure if we are paddling the same boat, exited WDRP profitably long ago, and miners were trimmed but still painful although mostly not concerned over their survival (unlike WDRP).
IMO it is pretty surprising this is still lingering on.
Looks like they have drawn this out another half of a month by just smearing some words out in a social media website. Just eleven more such acts and we are in 2014 !