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52-week low was 22.04. He is either dreaming or talking about GDX.
Yes, we will tweet them to death.
"I'm speaking about write downs on the US dollar valuation based on all the debt/fiat money printing that's been done."
And my point was that when holding ADRs of Canadian stock we should be more worried about write downs on the Canadian dollar valuation. If USD goes to zero tomorrow and CAD does not, FFMGF share price will skyrocket both because of "improved" USD:CAD conversion rate and rising USD value of FF assets.
Well, I have to disagree with you here.
Basically, there are 2 ways to lose your money in this stock:
1. If the company goes against you (files bankruptcy, heavily dilute shares, etc.) Hopefully it won't happen under this management.
2. If market decides that when you bought your shares the underlying assets were overvalued in currency you paid for them.
Last point brings another question "dollar lost 40%" comparing to what? Comparing to "the basket of currencies"? gold?...? If you know the answer you should probably keep your wealth nominated in those currencies/assets.
And the last one. Don't forget that with FFMGF you are holding ADRs to Canadian stock FF.TO which is valued in Canadian dollars. At any time you can contact your broker to convert those ADRs into original Canadian shares. Some brokers can still hold them online (like Scottrade or Etrade could do it in the past - not anymore). Others will send you paper certificates. Of course, you will have to pay brokerage/agent fees, etc., but you will keep roughly the same share of the company. So, what we should be actually watching is USD:CAD ratio. It's about 1.3 at the moment. If somehow it drops below parity (and we saw this before), your FFMGF share will immediately rally in USD terms. I was lucky to feel this effect with my basket of Canadian stocks several years ago. Of course, it's more complicated than that because FF pays some expenses in Canadian dollars, but initial reaction will likely to be like I've just described... with some retraction later.
Thanks. Sounds good. Do you have any experience with these guys?
Last try:
https://steemit.com/gold/@moneyuncensored/something-off-about-this-current-silver-and-gold-price-smashdown
if it doesn't work (and it does not ) just copy&paste above line into your browser. Somehow some extra spans/spaces get generated.
Also, if want 10 oz silver bar at spot:
https://sdbullion.com/silver-at-spot-price
(but you will need to pay shipping, so it's better to combine it with anything that is on sale today).
I think it's the cheapest physical silver you can currently find. At least I bought it below spot (counting 1.5% credit card rewards):
http://www.ebay.com/itm/Daily-Deal-Lot-of-100-1-Troy-oz-RMC-Republic-Metals-999-Silver-Round/201456613240?ssPageName=STRK%3AMEBIDX%3AIT&_trksid=p2055119.m1438.l2649
U.S. Mint's 1st-half sales of American Eagle gold coins weakest since 2007
U.S. Mint sales of American Eagle gold coins totaled 6,000 ounces in June, down 92 percent from June 2016 and bringing the tally for the first half of the year to 192,500 ounces.
Sales of American Eagle silver coins totaled 986,000 ounces in June, down 65 percent from a year ago. This brought sales for the first six months of 2017 to 12.2 million ounces, the weakest for the period since 2008.
http://www.reuters.com/article/us-usmint-coins-idUSKBN19L2RT
The link:
Dr. Clarkson:
Harsh reality is always better than false hope.
http://www.quotes.net/mquote/722227
I have just partial execution at .48s so far.
The company expected to release quarterly results today. It should be negative, I believe, which is normal for development stage company like this. Probably some investors react by selling at current prices with hope to buy back cheaper.
In every country with weak currency people still buy: 1. US Dollars 2. EUROs 3. Gold. In this exact order. It will take a while to convince them that they are buying a s**t... just because it's still the best s**t available and accepted everywhere: locally and worldwide.
Peter Schiff: "President Trump is the perfect scapegoat for the coming economic collapse. The establishment loathes him, and there’s plenty of evidence to suggest that they’re trying to pop the financial bubble that they created, while he is still in office."
http://www.shtfplan.com/headline-news/peter-schiff-warns-theyre-not-afraid-of-collapsing-the-bubble-on-trumps-watch_06262017
Thank You, GDXJ: Ultimate Rebalance Victim Trade
Lior Gantz, editor of Wealth Research Group (6/26/17)
Yesterday, it dawned on me that my calculations have been too conservative regarding one company in particular, and I want to show how this mining legend opened my eyes to the intrinsic value of my top suggestion for this merger mania: First Mining Finance Corp. (TSX:FF & US:FFMGF).
For one of the most serially successful mining businessman of our era—Keith Neumeyer, the founder of the company—resource investing is about generating revenues. Don't get it mistaken: Keith is all about big, fat, and consistent cash flows and thick, monstrous margins.
First Mining Finance was Keith's brainchild, and when we spoke last night, he summarized it this way: "Lior, just think of scooping up 25 brand new Boeing 747s in a country where there are currently no airports, so you're getting them really cheap, knowing full well that they're about to build 25 new runways and will need your planes. We bought proven properties for distressed prices during the bear years, and we now hold all the cards and have all the options because our properties are becoming more valuable as the gold price rises."
The reason why I'm quickly accumulating shares right now is because the last financing, in which all the members of the management team participated, was done at CA$0.80. I want to lock in my position for less.
This is what will happen to unlock the intrinsic value and potential of their assets and generate revenues for the company:
Joint ventures with cashed-up majors.
Royalty deals.
Streaming structures (the best business model ever).
Spin-outs of properties for a premium and earn-in contracts.
When the company signs these value-creating set-ups, shares will explode fast and hard, and you know it.
Full text with valuation charts in:
http://www.theaureport.com/pub/na/thank-you-gdxj-ultimate-rebalance-victim-trade
"Banks Quit Coal. The Coal Industry Needs Money. Lots and lots of our money."
Ukraine is going to buy at least 2 mln tons of coal from USA. According to Ukrainian President Poroshenko: "We agreed to buy min 2 mln tons from Pennsylvania and received guarantees from Department of Energy and Commerce Department". As you know coal-rich region of Ukraine is occupied by Russia now. They were buying coal from South Africa last year, and now decided to help President Trump to make American Coal Industry "great again".
I would think this should negatively affect EURO and drive USD up. Which may put pressure on precious metals.
Where did we see this type of language: "FAKE narratives", "FAKE BASE ATTACK", "FAKE BASE nonsense"? Oh yeah. Not surprisingly FBI was interested to dive in. They are investigating similar "FAKE NEWS" right now, which is also about Russian connection.
Element Global's Message From Its President
http://www.marketwired.com/press-release/-2223580.htm
I almost hate Avi now for his "I told you so idiots" writing style. And, of course, like all TA gurus he is always right with his predictions: "if price goes up it will go up, otherwise it will go down, or stay in the range".
Keith Neumeyer just bought another 100K shares at .60 CAD (about $0.45):
https://www.canadianinsider.com/company?menu_tickersearch=FF%20%7C%20First%20Mining%20Finance
Isn't this a definition of FF.V (FFMGF)? It's foreign issue (Canadian), exploration, precious metal assets "bank". BTW, I am not sure it makes much sense to use TA for FFMGF at this point. Recent price decline was the result of JNUG rebalancing, when about 50 mln FFMGF shares were sold by the fund. Now this organized selling is over, and I am actually amazed by the strength this stock has demonstrated.
"Has been for years."
First Mining Finance was founded in 2015 as gold assets were valued for less than $10/oz. Its value has increased 12-fold since then.
If you want to see future of this stock just look at First Majestic Silver and First Quantum Minerals. They also were (and still are) "super speculative". True: precious metals, especially miners, especially juniors are speculative.
Nice. I had a buy order in low .46s (with ETRADE), and it was never executed.
I don't think there were 44s during normal trading hours (not in US, and not for retail investors). It looked like multi million last minute and after-hours arrangement in Canadian exchange. The best you could get is low 46s. If anybody managed to get any price below 0.46, please let us know.
Palladium has been increasingly replacing platinum in automotive industry recently. A couple of years ago when palladium price was around $600 and platinum at $800-900+ some experts recommended arbitrage trade: short platinum - long palladium. Now they are basically trading at the same price. I did buy some physical palladium at that time. The main issue with this investment: general market completely ignores its "precious metal" status. People don't buy palladium jewelry, don't collect palladium coins in mass, etc. Buying palladium is like buying cooper or nickel. Some people do buy those metals, collect old copper pennies and nickels, but... it's rather exception, some kind of eccentricity.
The proof is on iHub (with pictures of documents, phone call transcripts, etc.). Just do some research. OTOH, I don't need to prove anything to anybody. Prove you are not criminal! Some time ago I was already threatened by Russian gang that controls these "assets", so... prove you are not one of them. I actually don't mind people buying/holding this scam. Some of them even manage to jump out with profit on occasional pump rallies. At some point new wave of iHub pumpers will cover this board. Good luck with that!
I personally contacted owners of fake "multi-billion assets" and institutions that supposedly made those fake estimates of reserves in Russia. Had multiple phone conversations with those guys in Russia: "presidents", "directors", experts (particularly from TsNIGRI), who told me in details how they were tricked into this scam. Bottom line: I don't know about other assets (although, there are all signs they are fake too), but all these "multi-billion" dumps in Russia are worthless. This garbage was initially acquired for free by some scammers in Russia, who are pushing it around for many years selling the same garbage to American investors under different penny names. Just read my previous posts on topic. Everything is there. There's a sucker born every minute. I used to be one of them. You will learn too.
Someone Just Dumped $4 Billion Of Gold Futures Ahead Of Comey Testimony
Over 30,000 contracts suddenly flushed ahead of Comey...
http://www.zerohedge.com/news/2017-06-08/someone-just-dumped-4-billion-gold-futures-ahead-comey-testimony
This article is in agreement with what I predicted:
Initial Reaction to The Comey Transcript Takes Gold Prices Lower
June 7, 2017 - 5:33pm by Gary Wagner
"Today the former director of the FBI, James Comey, released a written transcript of the prepared opening statement he will make tomorrow in his testimony to the Senate Committee on Intelligence. This seven-page document details the former director’s contact with President Trump, going over his interactions meeting by meeting, phone call by phone call.
...
Most noteworthy was an almost immediate devaluation of safe haven assets such as gold. Within minutes of Comey’s statement being released today, gold prices fell dramatically. As of 4 o’clock Eastern Standard Time, gold futures are trading at $1288.20, a net loss of nine dollars on the day.
While this could simply indicate that traders are pulling profits after witnessing gold prices rise roughly 5% in the last week, it is also possible that it is signaling the beginning of a correction, following a dramatic price rise from $1215 to the intraday high achieved in yesterday’s trading at $1298. "
https://thegoldforecast.com/video/initial-reaction-comey-transcript-takes-gold-prices-lower
He doesn't need any confirming records at all. This is testimony under oath.
BTW, it's reported that he is not going to accuse Trump in anything. He will just tell his version of events... which gives more chances for gold to go down.
If market believes that Comey delivered "fake news", gold will drop. IMO.
I think gold is getting priced for coming Trump impeachment process after Comey testimony on Thursday. If it goes smoothly, and nothing outrages and credible reported, gold price will fall sharply on Friday.
Those "low bids" are called "spoofing". Try to sell anything at the bid, and they will disappear.
If GDXJ sells rebalanced shares in agreement with large shareholders (which sounds likely to me) then the future buy/sell price was negotiated in advance (probably at significant discount to the FF price at that time). What would smart investors do after signing such an agreement? He would start shorting FF shares to get additional "arbitrage bonus" to signed agreement. Maybe this is one of the reasons of recent selling.
Sorry, it was wrong calculation on my part. Instead of shares outstanding (543.47 mln) I used shares held by GDXJ (76 mln). Unless that 2.5-8% range has been corrected for FF we can see more shares sold next couple of weeks. Hopefully potential buyers are ready to pick up most of them.
I think GDXJ selling is almost done by now.
The MVIS Global Junior Gold Miners Index is set to be reviewed and rebalanced on June 9th 2017. It will take about a week for GDXJ to rebalance accordingly. After that it will actually become “large mid-tier to small major” gold ETF". Then, within 12-24 months, a new ETF for juniors to replace the demand of the old GDXJ will be created. So, this new ETF will be (or already is) buying FF shares sold by GDXJ and maybe more. https://katusaresearch.com/junior-gold-stock-etf-poised-create-fire-sale-opportunity-gold-stocks/
The Scotiabank report says that GDXJ "could have to sell $2.6B across existing index constituents," which represents "2.5 percent to 8 percent of the total shares outstanding of each existing index constituent."
http://www.cnbc.com/2017/04/18/popular-gold-miner-etf-to-change-dramatically.html
Not sure how many FF shares GDXJ held when selling started, but let's say it was 76 mln (holdings on 5/10/2017). Then new planned range (2.5-8% less) will be 70-74 mln shares. Even higher because my initial 76 mln is worst case scenario.
Finally, as of 06/02/17 GDXJ position was 72,494,183 shares
https://www.vaneck.com/etf/equity/gdxj/holdings/
This is right in the middle of planned 70-74 mln range, and probably even closer to the bottom number. So, the GDXJ selling is almost done and FF price will rise when "new Junior ETF" will start building it's portfolio.
The first reasonable step would be to make it illegal to exchange bitcoins for dollars. It's pretty easy: US dollar is the official currency of the United States, and bitcoins... hmmm...illegal tool that can be used by terrorists and hackers. Recent "WannaCry" computer ransom attack is very good excuse to demonstrate how harmful bitcoins are. So, trading bitcoins is like trading drugs... etc., etc. That's how this can be and probably will be done. They would be happy to do this with physical gold too, but US Constitution makes it more difficult. Luckily there is nothing about bitcoins in Constitution.
Moreover, there is no such a thing as "US listed shares". FFMGF is nothing more than ADRs issued for Canadian stock FF. Price difference is usually technical and short-lived (Canadian or US holidays, sharp moves in USD:CAD conversion rate, etc.) and can be used for quick arbitrage trades.