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I think it's possible. Also, it could be early "tax loss" selling. Ask size doesn't look that big (30K right now), but someone just keeps selling small lots at the bid. I actually was impressed by that million bid size. Thought about insiders buying (?)
Actually, it was a huge bid at 0.49 (over 1.3 mln shares) a couple of days ago. Now it's down to 500K, so hundreds thousands of shares were sold at this levels below 0.5. If .49 doesn't hold, I am afraid we will drop to low .40s
I still believe we will move up starting next week. BTW, I usually don't watch real-time FFMGF trading. But what I see today is called "spoofing". Some entity (represented by CDEL) showed 85+K ask at 0.514 to push weak hands to sell. Then with the first signs of buying at the ask this "huge supply of shares" just disappeared. PMs also rebounded nicely... I added at low .51s... We will see.
Didn't you see last "message" from ELGL President? The company is under investigation by "FBI, FINRA, USSEC and other Governmental authorities" and can't issue fake news at this point.
http://markets.businessinsider.com/news/stocks/Element-Global-s-Message-From-Its-President-1002120963
Yes, this would be very bearish for USD. I don't have the link handy, but the procedure will look like this: seller (like Saudis) will get Yuans for their oil. But Yuan will be backed by gold located outside of China. So, if buyers want to be paid in gold they will need to buy US dollars for Yuans. This way China plans to significantly reduce its USD holdings.
This guy kind of agrees with you on support numbers:
"Silver markets continue to go sideways overall, as we continue to move around due to the geopolitical headwinds around the world. Ultimately, I think that the market should continue to be slightly negative though, but given enough time I think that we will find support near the $16.50 level, perhaps even the $16 level. Alternately, if we did break above the $17 level, the market should continue to go much higher. The markets will continue to be very volatile, and keep in mind that the Silver markets are much thinner than the gold markets, so if we get some type of move in the precious metals sector overall, it will be much more pronounced in the silver market. I believe that the market will be very difficult and dangerous, but I think that in general the US dollar is starting to see some type of bullish pressure. And I think that the strengthening US dollar will continue to be a headwind for this market."
https://www.fxempire.com/forecasts/article/silver-price-forecast-september-28-2017-technical-analysis-440209
I see 100 oz silver bars selling at $1700 already, but hope to buy them even cheaper.
As I guessed before, I think we will keep trading like this till the end of the next week (Yom Kippur) and will see company's "enthusiasm" and maybe analysts upgrades starting October. I believe we would be in the mid .40s already without this timely PR.
The numbers look really great. And good timing for this PR.
Fund Manager: BIS Is Flooding Market with Physical Gold EVEN MORE SO THAN IN 2011
Dave Kranzler shows how the BIS has opened up the flood gates in physical gold even more than they did leading up to the orchestrated 2011 take-down.
https://www.silverdoctors.com/gold/gold-news/fund-manager-bis-flooding-market-with-physical-gold-even-more-so-than-in-2011/
Looking at this week's trading... we may test that "sell roshashana, buy yom kippur" effect with buying opportunity at the end of the next week.
http://www.businessinsider.com/sell-rosh-hashanah-and-buy-yom-kippur-stock-market-2016-10
Yes, APMEX rented office space in Manhattan several years ago, and Trump accepted payment in gold. Another question - it was bad business decision for APMEX. By moving to NY they lost a lot of NY customers not willing to suddenly start paying sales tax on their PM purchases.
To re-price gold they need to own gold. I am not a big fan of conspiracy theories, but I do believe that most of physical gold stored in US has been sold or leased, and Fort Knox Depository is basically empty. There are plenty of evidences. So, to re-price gold they need to manipulate it down first and buy back some. Maybe it's happening already.
Guys are just looking for bigger fool who would slap the ask. Don't mess with their business.
So, they will buy tons of dirt, move it to other countries, and start refining it? Really LOL. Russia has many famous refineries with well known products. I have never heard that anybody imported dumps from Russia. Actually, current Russian owners of those technogen fields got them FOR FREE. Initial owner was just happy to get rid of them and transfer ecological responsibility to new owners. Again, nothing is new here. Everything was posted on this board with links to original documents in Russian. Just read about history of Star Gold, for example, - the US company that was lucky to return these (the same) "assets" to their Russian merger partner.
Yes, just get some education. Many big businesses with signed Russian contracts stopped any cooperation. Siemens stops turbine sales to Russia in Sanctions Dispute and suing Russian partner, etc. etc.
First, I said "if ELGL keeps talking" about owning Russian "assets". Meaning that those fake statements may attract attention of FBI. Second, have you actually read the act in you link? Just to let you know ALL gold produced on Russian territory is controlled by the Central Bank of RF which basically stands behind every gold import/export transaction. So, read parts of the document related to the Committee on Banking, Housing, and Urban Affairs. Russian financial institutions are one of the targets of new restrictions. Besides, Russia sells gold to North Korea's closest ally - China, intensified it's support of North Korea and actively refuses to comply with NK sanctions. Now, read articles related to North Korea trades. If FBI really starts looking into all US-Russia gold investments and transactions, ELGL management will be first to tell them: "we were just kidding, they are fake".
http://www.dw.com/en/russia-steps-up-north-korea-support-to-constrain-us/a-38867861
https://www.marketslant.com/articles/russia-selling-goldto-china
This is from Kaiser:
"... after 1.5 years of negotiations and due diligence, ELGL will acquire ELEMENT GLOBAL MINING GROUP, INC. with substantial assets and business operations expected post-merger into ELGL.
Additionally, 15% of the Element Global Mining Group, Inc.'s assets have been valued at over 3.7 Billion Euros."
http://www.marketwired.com/press-release/element-global-inc-elgl-provides-corrections-additional-info-on-announced-binding-letter-otc-pink-elgl-2153565.htm
Just check what is ELEMENT GLOBAL MINING GROUP, and which "assets" it owns. Everything was posted here already.
As you remember those $3+ bln assets were assigned to the fake Russian dump fields. I don't think the management will dare to refer to these "assets" again. It's just one thing that they are fake and easily verified. Another new development: these claims of Russian connections fall under Russian sanctions law signed by Trump recently. So, if ELGL keeps talking about $3.7 bln they will likely face another higher level of punishment. Although, according to the company's latest PR, SEC and FBI are already involved. Maybe they are looking into those "assets" too.
"The answer to this question, which has somehow been around since the 1960s, is a no, according to the National Hurricane Center's science and operations officer...
...fully-developed hurricane releases about 50 terawatts of heat energy at any moment...
...The heat release (from a hurricane) is equivalent to a 10-megaton nuclear bomb exploding every 20 minutes. According to the 1993 World Almanac, the entire human race used energy at a rate of 1013 watts in 1990, a rate less than 20% of the power of a hurricane...
The science publication explains that "bombing a hurricane might be about as effective as trying to stop a speeding Buick with a feather."
"Attacking weak tropical waves or depressions before they have a chance to grow into hurricanes isn't promising either. About 80 of these disturbances form every year in the Atlantic basin, but only about 5 become hurricanes in a typical year. There is no way to tell in advance which ones will develop. If the energy released in a tropical disturbance were only 10% of that released in a hurricane, it's still a lot of power, so that the hurricane police would need to dim the whole world's lights many times a year. "
http://www.mlive.com/news/us-world/index.ssf/2017/09/nuking_a_hurricane.html
http://www.aoml.noaa.gov/hrd/tcfaq/C5c.html
I believe you. Never used their service before. But FFMGF price behavior is typical for this kind of penny rallies so far: 2-3 days up on rumors then selloff. And google not completely agrees with you:
http://briandeer.com/stansberry/stansberry-research-scam-1.htm
Like most of us I am holding my core position "for dollars", and trading 10-20% of shares.
Unlike FFMGF, WPM has working streaming contracts and real gold production. There are many development stage companies claiming huge precious metals reserves. IMO, when First Mining signs first cash generated deal the share price will jump to single $ numbers. And, of course the price will rise with every new deal. Before this happens, it's just penny stock which value is based mostly on management credibility. Let's see how this current Stansberry hipe will be played out. I wouldn't be surprised if those promoters are actually selling this rally. That's how penny stocks are usually treated.
There is absolutely no doubt it's about First Mining Finance. Just do google search using presented images.
Hmmm... Let's try to bring it closer to the "Mining and Metals"...
189 Bible Verses about Gold:
https://bible.knowing-jesus.com/topics/Gold
Yes, it's hard to resist. I started position too. We can move lower though.
You know, Tom... After reading First Magestic results closely I have doubts about AG too. Most of their problems are Mexico related (peso exchange rate and "illegal workforce activities"). It's not just business, they may have to pay for the Wall.
I’ll start with disclosure: everything below is my personal opinion which I entitled to. If anybody here belongs to SVM fan club… please don’t kill me.
SVM financial results look good, even very good… They mine free silver with incredibly low cash cost per ounce. The only problem: I don’t believe a single number in their financial report. One should be careful buying Canadian miners with foreign assets. I know in details how “financial results” are fabricated by owners of Russian assets, and I believe the same may apply to producers with mines in China, particularly Silvercorp Metals. We all remember recent 2011 SVM scandal:
http://www.barrons.com/articles/SB50001424052748703512004577182970380129522
http://www.silvercorpmetals.com/news/2011/index.php?&content_id=304
https://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/fraud-allegations-against-short-seller-dismissed-in-silvercorp-case/article24444979/
SVM is probably good trading stock, but I wouldn’t be surprised to see something like this again especially with looming trade war with China… I would rather buy Golden Star with Ghana mines that was mentioned here recently. Although, Ghana also has some issues with Chinese mining expansion. Again, sorry if I hurt anybody’s feeling.
BTW, to clarify my position on First Majestic. I have kind of personal relations with this company. I used to own its shares well before they get listed in US. Moreover, I bought tons of FM silver rounds even before they started selling them online: you had to fill out paper purchase form and mail it to the company. Then to get some exposure and recognition they started trading silver below spot on eBay. Finally, it’s a great well recognized company. Of course, I sold my shares too early, as usual, and am very happy with their 2nd quarter fiasco looking to buy back some.
First Majestic posted terrible 2nd quarter results:
http://ih.advfn.com/p.php?pid=nmona&article=75382300
"I don't think the usa will bomb n korea."
But we can hit them with series of deadly tweets.
North Carolina Governor Signs Bill Eliminating Tax On Gold & Silver Money
Imagine if you asked a grocery clerk to break a $5 bill and he charged you a 35 cent tax. Silly, right? After all, you were only exchanging one form of money for another. But that’s essentially what North Carolina’s sales tax on gold and silver did. By removing the sales tax on the exchange of gold and silver, North Carolina will treat specie as money instead of a commodity.
“We ought not to tax money – and that’s a good idea. It makes no sense to tax money,” Ron Paul said in support of a similar bill that passed in Arizona.
...
“It is sobering to reflect that one of the best ways to get yourself a reputation as a dangerous citizen these days is to go about repeating the very phrases which our founding fathers used in the struggle for independence.” – Charles A. Beard
https://politicalvelcraft.org/2017/07/28/north-carolina-governor-signs-bill-eliminating-tax-on-gold-silver-money/
Twitter's 140 character message limit is a threat for US security:
https://gizmodo.com/the-pentagon-worried-trump-was-about-to-start-a-nuclear-1797291605
"Most of analysts that cover FF have target price 1.5-1.7 CAD."
Interview with Patrick Donnelly, President of First Mining Finance Corp.
http://secure.campaigner.com/csb/Public/show/hr5vn--cvl5q-6e9ufxt0
A lot of useful information: shares are way undervalued, news are coming, GDXJ rebalancing created "a great opportunity for people to get in the first money because, like I said, I don’t know when this window of opportunity is going to be opened again in terms of pricing."
Thanks. His response makes perfect sense to me. My only "recommendation" for them (as I said before) is: with all that well-thought-out long term "technical" strategy, which is reflected in their latest PRs, just add some short term official "descriptive" communication. For example, what do you think would happen to the stock price if the information he's just shared with you was presented in company's PR: "...our properties are economic at current gold prices... we don't really require a higher gold price from where we are now. Various major and intermediate mining companies have already approached us..." ? I am sure when the first real even small deal with "major or intermediate mining company" is signed, the stock will immediately move to the new level: from group of multiple developing companies (many of them are scams, btw) to real value producers. Not all investors are patient enough to watch how "gold property bank" is sitting on its valuable holdings which are not converted into any real cash outcome. There are dozens of mining companies in US and Canada claiming that they own/control "multi-billion assets". Most of them are scams and will never produce a penny. First Mining still needs to position itself differently. Right now company's image is based mostly on management credentials. IMO.
This is true, of course, but maybe it's time for the management to start monetizing some assets. I believe any info about sale or lease negotiations, or planned JV with known gold producer will send the stock fly. Investors like to see some revenues in company's financials. I know, assets will be more expensive and profitable in future, but Keith can help current investors to keep faith and attract new investors who avoid holding shares of development stage companies. For example, have you ever thought about possible future merger of First Majestic Silver and First Mining Finance to form new entity: First Majestic Silver and Gold Corp?
That's from email I received yesterday:
"I apologize for the delay in processing time. The recent drop in the silver market has caused a longer processing time due to the significant increase in the volume of orders received and unexpected delays in shipment from suppliers.
Our last shipment of the 10 oz SD Bullion Proclaim Liberty bar was unexpectedly delayed by the mint. Those will be in today so this order will ship out in the next 1-2 business days."
They are talking about promotional silver bars sold at spot ($15+ for me).
I think we have to wait till lucky buyers flip millions of shares bought at low .40s during GDXJ/JNUG rebalancing. They are probably selling for 10+% easy gain now.
Latest from Keith Neumeyer (July, 16):
http://www.tfmetalsreport.com/podcast/8446/another-visit-keith-neumeyer
"First Mining is undervalued. I have been buying."
This article is a good summary of “Russiagate” for those who never heard about Magnitsky or Veselnitskaya before. Of course, Veselnitskaya is not “Russian government connected” lawyer. She is “Russian elites connected” lawyer – those elites that are suffering from Magnitsky law. The main paradox of modern totalitarian states like Russia is that they need external enemies to keep their population mobilized and supporting local governments (according to recent polls US is the enemy #1 in Russia). OTOH, elites are not that stupid to keep newly stolen wealth inside the country. They have foreign accounts in safe places; they buy yachts and multimillion real estate properties in Manhattan, Miami, London, France, Italy, Spain (popular Russian places). Their kids graduated prestige foreign colleges and live in Europe. So, Magnitsky law and Ukraine-related sanctions just cut them off from their money and actually from their future. Now Putin requires that all high level individuals bring their children and capital back to Russia. Some of them obeyed (like Putin’s two daughters, Lavrov’s daughter, etc.). Others couldn’t convince their adult children (who have foreign citizenship and good jobs) to go back to Russia, so have been fired.
Anyway, what this article failed to explain is how “second-hand” lawyer Veselnitskaya managed to schedule this meeting with Trump team. And that’s where we can expect next development in Russiagate. This meeting was organized by Russian oligarch, real estate developer (“The Trump of Russia”) Agas Agalarov. He used to be Trump’s partner and, according to some Russian sources, helped to finance Trump companies during his multiple bankruptcies. Nobody knows about Trump’s current financial ties to Aras Agalarov, but eventually we will:
https://theintercept.com/2017/07/11/russian-oligarch-plotted-aid-trump-named-private-intelligence-dossier/
BTW, author's conclusion that "bitcoins are 'more real' than precious metals because they can't be manipulated" doesn't take into account that nothing will prevent bankers from creating digital currency future contracts and ETFs to destroy their "real currency" status.
You accidentally dropped the key word "IF" from you title: If Trump Orders Gold Audit, Gold Explodes. Unfortunately, he will never be "allowed" to do this. Impeachment would be the lesser evil he would face then. JFK used to move in this direction, and we know the result. "John F Kennedy signed the gold standard agreement eight days before he was assassinated."
https://www.quora.com/Did-JF-Kennedy-sign-the-gold-standard-back-in-before-he-was-assassinated
https://en.wikipedia.org/wiki/Executive_Order_11110