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Nice article. The change in stance by the big banks is interesting...
Like you, I am in this for the long haul, so the longer prices stay this low, the longer I get to average down! Let's make some money.
I would hope so! LSG reported record production yesterday after market close, and the share price is staying in the 0.30's...
In time, gold will pass 1600 again.
If costs are $650-$700 per ounce, and add about $400 to get an all-in cost (assumption), that still leaves a slight profit at $1200 gold.
Even if gold stays around $1200, they are keeping costs so low that they will remain profitable.
The plan is to reinvest their earnings into developing Grey Fox. Once Grey Fox AND Black Fox are both running at full capacity, we should see the end of this share price drought.
Lake Shore Gold Reports Record Production in Second Quarter 2013
http://www.lsgold.com/Investor-Centre/Press-Releases/Press-Release-Details/2013/Lake-Shore-Gold-Reports-Record-Production-in-Second-Quarter-2013/default.aspx
I never got anything from Questrade either.
It seems that the assumption that the silence meant that the shareholder meeting was held in secret, in order to make money selling shares via toxic debt, was incorrect.
Though it is strange that there was no official announcement on the postponed shareholder meeting, I can take it. If it is postponed for 45 days from June 28th, that would make it tentatively set for August 12th?
We should have the 8-K before then, which might give us an indication of what is on the horizon.
I still believe that ECOS is one good deal away from greatness.
Brigus Gold Investor Presentation
http://www.brigusgold.com/Cache/1001176942.PDF?Y=&O=PDF
Good news in the PR at market close yesterday.
Then today, 2 big trades (in comparison to the rest of the day's volume) at EOD brought us back to the 40's...what gives?
Why not just call Ecolocap? If MS is not in, the receptionist will give you his cell
It is strange that we haven't heard anything....low volume today too...
12 hours from now, s*** is going to get real.
The bottom line is that ECOS is in the red right now, and this is a plan to get some business going and make some money.
Perhaps the increase in shares will give them the financing to get the Korean chicken deal started. Then, with recurring revenue, they can buy back cheap shares?
Maybe the Ukraine deal is still in the mix?
FEI?
Maybe there is still battery business going on?
MS might not spill the beans until a deal is finalized. Unfortunately, he doesn't show anyone his cards until he finishes negotiations or finalizes things.
But the bottom line is that there is a reason for this.
Gold just dipped to the 1180's. Gold is getting its pants taken off tonight in Hong Kong.
What are your predictions?
- Will the share price drop some more tomorrow?
- Will the market react to positive Q2 results in the coming weeks(low costs, target production)?
More Marc Faber predictions:
http://www.marketoracle.co.uk/Article41119.html
Stocks can't go up forever...when the markets come back down, people will turn back to gold. Do you think the big banks that are "bearish" on gold are selling their gold? They are too smart for that.
Accumulate LSG like a madman, and a year from now you will be in a much better place, IMHO
The gold price continues to plummet...currently at $1245.
We continue to bleed.
Awaiting Q2 results.... *yawn*
Will the market care?
Gold is still in freefall. Where is the bottom?
Marc Faber is a very smart man. He called the gold run last time, and I believe he is right this time as well.
Marc Faber: Gold a possible canary in the deflation coalmine
June 24, 2013, 10:52 AM
There was a lot of backing away from gold on Monday.
Goldman Sachs kicked it off by cutting its end-2013 and 2014 gold-price views, its first gold cut since April, to reflect the new post-Fed world reality. Goldman expects a stronger economy and less accommodative monetary policy, and hence lower prices for gold GCQ3 +0.59% , which investors normally seek out as a hedge against inflation.
Credit Suisse, meanwhile, said gold investors maybe should be ratcheting down their expectations, or at least taking a harder look at them. Gold could get back to levels seen before the crisis, around $1,100 or $1,500 an ounce, Tom Kendall, head of precious markets research told CNBC. That’s because many of the so-called fear factors driving gold higher — such as inflation — have been removed from markets.
Finally, analysts at Citigroup did a little hedging on Monday, saying while they don’t expect gold under $1,100 an ounce, it’s “not an impossibility.”
But there might be something else investors should be considering where gold is concerned right now, especially at a time (at least on Monday) when global markets are collapsing like a house of cards (though gold was getting by with comparatively small losses). Here’s what Marc Faber, editor of Gloom Boom Doom report told MarketWatch in an email.
“Maybe gold is signaling a deflationary collapse of all asset prices. If this were indeed the case I suppose I would rather own gold than government bonds, high yield bonds and equities. If this scenario were to pass it would lead to even more money printing around the world,” says Faber, who was talking about asset price deflation and gold back in March.
Peter Hug, global trading director at Kitco, agrees with this possible scenario. He believes the dangers to the global recovery are on the deflationary, rather than the inflationary side. He doesn’t expect the Fed will move on rates until 2014, but says the central bank is likely to jaw-bone those potentially policy changes to prepare investors.
“The trial balloons are meant to gauge market reaction and so far the selling in the equity markets as been somewhat disciplined. If the damage here accelerates the Fed will suggest that the retraction of bond purchases is not imminent,” says Hug, noting fresh comments from New York Fed President William Dudley who says the Fed still isn’t accommodative enough.
“You would suspect that this would be price supportive for metals and I think it will be, with the caveat that we do not have a major deflationary collapse, which would be harmful to all hard assets in the short term. This would result in increased ( dramatic) stimulus by all central banks which should then propel the metals higher,” says Hug.
Last month (when gold was around $1,467 an ounce), Jim Rickards of Tangent Capital predicted deflation would eventually start pushing up by the end of the year, and if the Fed’s monetary policy is successful and deflation prevails, it’s going all the way back up.
“Deflation is something Japan and the US monetary policy makers fear most,” said Jon “DRJ” Najarian, Senior Economic Analyst at Capital Gold Group in emailed comments. “If they see either economy backing into a deflationary spiral I think they would, through words and deeds, apply all available stimulus. As I have held for months now, I think the weak hands will be flushed out of GOLD by the end of this quarter, which now is just four days out,” he added.
– Barbara Kollmeyer
Source: http://blogs.marketwatch.com/thetell/2013/06/24/marc-faber-gold-a-possible-canary-in-the-deflation-coalmine/
Marc Faber: Gold a possible canary in the deflation coalmine
June 24, 2013, 10:52 AM
There was a lot of backing away from gold on Monday.
Goldman Sachs kicked it off by cutting its end-2013 and 2014 gold-price views, its first gold cut since April, to reflect the new post-Fed world reality. Goldman expects a stronger economy and less accommodative monetary policy, and hence lower prices for gold GCQ3 +0.59% , which investors normally seek out as a hedge against inflation.
Credit Suisse, meanwhile, said gold investors maybe should be ratcheting down their expectations, or at least taking a harder look at them. Gold could get back to levels seen before the crisis, around $1,100 or $1,500 an ounce, Tom Kendall, head of precious markets research told CNBC. That’s because many of the so-called fear factors driving gold higher — such as inflation — have been removed from markets.
Finally, analysts at Citigroup did a little hedging on Monday, saying while they don’t expect gold under $1,100 an ounce, it’s “not an impossibility.”
But there might be something else investors should be considering where gold is concerned right now, especially at a time (at least on Monday) when global markets are collapsing like a house of cards (though gold was getting by with comparatively small losses). Here’s what Marc Faber, editor of Gloom Boom Doom report told MarketWatch in an email.
“Maybe gold is signaling a deflationary collapse of all asset prices. If this were indeed the case I suppose I would rather own gold than government bonds, high yield bonds and equities. If this scenario were to pass it would lead to even more money printing around the world,” says Faber, who was talking about asset price deflation and gold back in March.
Peter Hug, global trading director at Kitco, agrees with this possible scenario. He believes the dangers to the global recovery are on the deflationary, rather than the inflationary side. He doesn’t expect the Fed will move on rates until 2014, but says the central bank is likely to jaw-bone those potentially policy changes to prepare investors.
“The trial balloons are meant to gauge market reaction and so far the selling in the equity markets as been somewhat disciplined. If the damage here accelerates the Fed will suggest that the retraction of bond purchases is not imminent,” says Hug, noting fresh comments from New York Fed President William Dudley who says the Fed still isn’t accommodative enough.
“You would suspect that this would be price supportive for metals and I think it will be, with the caveat that we do not have a major deflationary collapse, which would be harmful to all hard assets in the short term. This would result in increased ( dramatic) stimulus by all central banks which should then propel the metals higher,” says Hug.
Last month (when gold was around $1,467 an ounce), Jim Rickards of Tangent Capital predicted deflation would eventually start pushing up by the end of the year, and if the Fed’s monetary policy is successful and deflation prevails, it’s going all the way back up.
“Deflation is something Japan and the US monetary policy makers fear most,” said Jon “DRJ” Najarian, Senior Economic Analyst at Capital Gold Group in emailed comments. “If they see either economy backing into a deflationary spiral I think they would, through words and deeds, apply all available stimulus. As I have held for months now, I think the weak hands will be flushed out of GOLD by the end of this quarter, which now is just four days out,” he added.
– Barbara Kollmeyer
Source: http://blogs.marketwatch.com/thetell/2013/06/24/marc-faber-gold-a-possible-canary-in-the-deflation-coalmine/
The Fed is printing money to keep the economy alive. Our monetary system is based in inflation. When you get a mortgage, or a loan, the money is CREATED by the bank. Money is created.
More gold can not be created. Its physical value stays the same. So over time, it becomes worth more and more.
Don't be fooled. Gold buyers will return when stocks crash, and solid miners like BRD will still be around to reap the rewards.
This is the best comment I read on today:
"No one wanted a lifeboat until the Titanic struck that iceberg."
It's a bloodbath...I like to accumulate during bloodbaths!
The strong miners will survive, and Gold will have rebounded by year's end, IMO
Brigus Reports High Grade Drilling Results at the 147 Zone
Halifax, Nova Scotia; June 19, 2013
Brigus Gold Corp. (“Brigus” or the “Company”) (NYSE MKT: BRD; TSX: BRD) reports additional drilling results from its ongoing drill program at the 147 Zone on the Grey Fox project. These results will be included in an updated NI 43-101 resource estimate on the Grey Fox property that will be released this month.
“These deep, high grade drill results substantiate the strong down-plunge continuity of the 147 Zone and continue to confirm the potential for future underground development at Grey Fox,” said Howard Bird, Brigus’ Senior Vice President of Exploration. “The 147, Contact and Grey Fox South zones all remain open for further expansion and three drill rigs will continue to systematically test these targets throughout the year.”
The 147, Contact and Grey Fox South Zone all occur within close proximity of each other and provide Brigus with near term production growth opportunities because of their proximity to the Black Fox Mine infrastructure.
See the full article at: http://www.brigusgold.com/Cache/1001176480.PDF
From the June 5th article (postponing the shareholders meeting):
"The meeting will also consider an amendment to Articles of Incorporation to create a class of Preferred Stock, consisting of 100,000,000 shares, par value $0.00001 per share, the rights, privileges, and preferences of which to be set by Board of Directors without further shareholder approval."
Though it seems negative, this is actually a positive long-term. Here is some knowledge for y'all:
Source: http://www.investopedia.com/ask/answers/06/preferredsharestaxbenefit.asp
Does issuing preferred shares offer a tax advantage for corporations?
There is no direct tax advantage to the issuing of preferred shares when compared to other forms of financing such as common shares or debt. The reason for this is that preferred shares, which are a form of equity, are paid fixed dividends with after-tax dollars. This is the same case for common shares. If dividends are paid out, it is in after-tax dollars.
Preferred shares are considered to be like debt in that they pay a fixed rate like a bond (a debt investment). It is because interest expenses on bonds are tax deductible, while preferred shares pay with after-tax dollars, that preferred shares are considered a more expensive means of financing. Issuing preferred shares does have its benefits over bonds in that a company can stop making payments on preferred shares where they are unable to stop making payments on bonds without going into default.
There are a few reasons why issuing preferred shares are a benefit for companies. One benefit of issuing preferred shares, is that for financing purposes they do not reflect added debt on the company's financial books. This actually can save money for the company in the long run. When the company looks for debt financing in the future, it will receive a lower rate since it will appear the company's debt load is lower - causing the company to in turn pay less on future debt. Preferred shares also tend to not have voting rights, so another benefit becomes that issuing preferred shares does not dilute the voting rights of the company's common shares.
Evidently, FEI thinks ECOS is legit, or they wouldn't have paid them $200,000.
The key to sustaining business, obviously, will be to pay down the debt and generate revenue.
From the Feb. 7 press release:
Michael Siegel, CEO of EcoloCap Solutions Inc. states: “I am pleased to announce that EcoloCap will start producing important revenues on an ongoing basis producing and selling a new blend of M-Fuel in Korea”.
"ECOS has already received over $350,000 in monthly orders (5 farms) just from the Anseong area where the tests were held. We are receiving new orders daily as the members of the association are becoming aware of the test results. ECOS is ramping up production to handle the 40 Anseong farms by September (12,000,000 liters/month)."
If this press release was untrue, what would be the repercussions for Mr. Siegel?
Though it would have a negative impact on the share price, temporarily, getting out of debt is necessary.
If they can find other means to pay off the debt, that would definitely be preferable.
If you recall in 2011, ECOS received $200,000 from Fuel Emulsions International as a purchase order for NPU's, which showed on the May 15, 2012 10-Q filed with the SEC.
Link: http://www.faqs.org/sec-filings/110415/ECOLOCAP-SOLUTIONS-INC_8-K/exh101.htm
The agreement then came to a standstill, which could have happened for a number of reasons (lack of financing for ECOS, or FEI or EPC not having the funds required? Who knows...
March 23, 2012 article: http://www.smallcapnetwork.com/EcoloCap-Announces-Standstill-Agreement-with-Fuel-Emulsions-International-ECOS/s/via/7473/article/view/p/mid/1/id/114/
Notably, from that article:
- "Commenting on the development, Michael Siegel, CEO of EcoloCap Solutions, said that the faith of shareholders in ECOS will not go unrewarded and ECOS has been searching far and wide for the best partners to capitalize on its game changing technology."
And a reminder of how quick ECOS can take off with some good news:
- "The development has sent EcoloCap shares sharply higher in today’s trading. At last check, the stock was trading 50.62% higher at $0.0241 on above average volume of 20.54 million. The stock has gained 980% in the last three trading sessions. "
I realize that with the shares in the market, a pop like that now will take some serious buying power. But good news brings buyers. I hope that good news is around the corner...
Pretty quiet around here lately...almost too quiet...
Seems really fishy...
The US is being quite fishy with their gold. They refuse to give Germany back their gold until 2020. They won't even let Germany see their own gold that is stored with the US FED. Hmmm...why would that be?
Source: http://nsnbc.me/2013/04/18/federal-reserve-refuses-to-submit-to-an-audit-of-germanys-gold-held-in-u-s-vaults-2/
Could it have something to do with the fake gold bars (filled with tungsten)?
Source: http://www.zerohedge.com/news/2012-09-23/gold-counterfeiting-goes-viral-10-tungsten-filled-gold-bars-are-discovered-manhattan
I think that the US FED is creating a fake supply of gold, similar to how banks "create money out of nothing". The German gold bars may have been sold to someone else (read: bank loan), with Germany still paying a fee to hold their gold (read: bank account fees).
But if everyone wants to get their bullion at the same time, or, in this case, if one powerful country wants to reclaim a large amount of their gold, it is not possible...because that amount of gold is simply not there at one time. Or if it is all there, they need to keep it incase they need to sell it to other people.
This keeps the market with an artificially large supply of gold, so the price can be controlled (supply and demand).
Thoughts?
I also found this on the CNBC front page:
http://www.cnbc.com/id/100809693
Peter Schiff is ultra-bullish on gold.
Stanner, is this what you're referring to?
http://www.cnbc.com/id/100809395
I am holding a boatload of LSG and BRD. A fool can see that the drop in gold is temporary; our monetary system requires inflation to sustain itself.
BRD is 0.65 right now, and earned 0.06/share in Q1 2013....bananas.
When gold stabilizes above 1400, then reaches 1500 and beyond, the market will wake up. And we will laugh all the way to the bank.
There is no reason why LSG should be below $0.90.
I own enough shares to buy a house when the market wakes up to miners like LSG and BRD
Captain, are you still holding ECOS?
I haven't lost faith. The shareholder meeting was postponed, along with a sudden stop in the monstrous dilution. I think there may be good news on the way?
Thought on ORA.TO? I started a small position last week.
I think it could easily jump 50% to $0.28 in the coming months. Let's see if I'm right...
I'm in much higher than that...I have been holding for almost 2 years.
The shareholder meeting got pushed to the end of the month. I am hoping this is for a good reason (e.g., pending announcement of financing). With a financing deal, or if the selling of shares got them the funds they need, it could be a great turnaround story
Did anyone attend the shareholders meeting?
Is anyone out there?
Strange trading pattern in ECOS today...
With the dilution seeming to be over, the share price seems to be starting its climb back up IMO. The technology has test results to back it, and they have a few irons in the fire...
What will it take to get this back to $1.30?
I will wait for it!
Brigus gold (BRD, BRD.TO) will make you money.
Current share price: $0.65
2013 Q1 Earnings: $0.06
Are you kidding???? I'm buying this stock like it's a watermelon in the summertime.
http://www.brigusgold.com/Cache/1001175615.PDF?Y=&O=PDF&D=&FID=1001175615&T=&IID=4288058
Meeting the 2012 production target is a huge turning point for the company, as the market had lost confidence after a couple years of missed guidance.
When you posted this, the pps was 0.68. It is currently half that, at 0.34!!!! Interestingly, the company is in a significantly better position than they were one year ago, when the share price was over $1.00. The stock is down because of the drop in the gold price, which is purely on sentiment...
The economy is no better than it was - money is still being printed to keep the economy on life support. When people realize this (which could take months, or a year), they will turn to gold and gold miners. And we will laugh all the way to the bank.
Drifting down on low volume doesn't concern me. Meh.