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Lekstrom had a good command of a few key topics, though you would hope for that from any CEO. In addition, even with timelines in mind things always pop us that push them further out. That being said, this transaction gives me more confidence in Treasury. No doubt they will discover more gold on the trendline that Goldlund and Miller are on. What was that saying Jeff Clark had? Something like 90% of companies move 90% between construction decision and first pour or something to that effect.
Treasury deal 14 minute podcast. Short and informative.
https://podcasters.spotify.com/pod/show/mining-stock-daily/episodes/Treasury-Metals-and-Blackwolf-Combine-to-Advance-Goliath-Gold-Complex-Project-in-Ontario-e2j6271/a-ab7rht1
Just finished reading the article. The Niblack looks good. Anyone here have any idea of the level of difficulty of separating the various metals?
Thanks for sharing the video. It is interesting and something fresh to follow. Their port access reminds me of Hope Brook. Hopefully Giustra's association with this company and the now larger company will give it some higher credibility and visibility when it comes to financing Goliath's upcoming construction.
Glad to see Frank Giustra involved.
https://treasurymetals.com/news/treasury-metals-and-blackwolf-to-create-new-growth-2874042/
Interesting timing.....I wonder what outstanding issues there made him pull the plug and bail out? I guess we'll find out.
A probable scenario......all the morons in CONgress will proclaim...."if it wasn't for the cyberattack the economy would still be strong!" The Uniparty here in the USA is as strong as ever and they will seek out a scenario that allows them to continue their financial abuse of the rest of us....all the while putting on a dog-and-pony show for the folks who are still asleep in BOTH parties, making them think their reps and senators are fighting over something real when in fact they are just playing 3 card monte on those who are still asleep.
What is 3 card monte? You might know if you grew up in the 60s or 70s in any major city in the US Northeast or US Midwest. If you have never heard of it here is a great 10 minute video explaining it.
I also hope if there is a massive selloff it occurs before the election. Listening to his comments about the negative money supply did also remind me of what Hanke has said before (and a few others). Hanke seems pretty darn good, so I wonder why he isn't on the financial shows more often? Oh yeah, he isn't saying what they want to hear. Lol
Even if the banksters do commit a bail-in, can you imagine all the people they will lose? Millions will shun the banks as much as possible in much the same way they did during and after the great depression. It would certainly further the case against CBDCs and make the case for gold, silver, bitcoin or anything else outside the control of the financial mafia.
Good article about the DTC if you have time to read it.
https://www.encouragingangels.org/new-blog/2024/4/27/3tzuw68c4uq0id2lgkuci047ehyk4g
Enjoyed listening to Dowd, particularly his discussion of the Yen carry trade. Craig Hemke has talked about the Yen carry trade for years and how the arbitrage is exploited by traders. Hopefully Dowd is wrong about more banks having problems, but frankly i am surprised they have lasted this long (even with the Fed's help). Of course, as mentioned, we (taxpayers) will pay for it. What they need are some real criminal prosecutions and massive civil suits against some of the leadership of the banks if they are involved in fraud in any way. Some may just be involved in super-risky leverages bets, so that would most likely rule out criminal prosecution, but not civil suits based on their status as fiduciaries.
Interesting.....I wonder if any of our oil companies outright own oil fields there or have JVs with Russian (or any other country) oil companie? Kiss those goodbye if this continues. A lot of folks who have nothing to do with this stand to lose a lot if this continues.
It was interesting listening to him. He did not seem to think hyperinflation would occur, just deflation (unless I missed it). Gold will do well either way. Particularly when the Fed opens the floodgates of money printing beyond the foolishness we currently have.
I laughed when he was talking about Bitcoin and paper cups. If the market nosedives and we go into a heavy bear market, do you think cryptos will go away or go higher?
Maybe they are near the end of the entire process and the remainder of the items they need are small and/or easier to obtain? I wish Wyeth would go into more detail on that in their webinars, videos or investor presentations. It would be helpful. Hopefully they can obtain financing without any major dilution.
Now that First Mining looks like it is headed below .10 US again I will probably start nibbling.
Here is the response I received from Treasury IR:
Thanks for your inquiry.
On August 19, 2019, the Federal Minister of the Environment and Climate Change issued a positive decision statement (the “Decision Statement”) for the proposed Goliath Project pursuant to the Canadian Environmental Assessment Act, 2012. The Company is now proceeding with provincial and federal approval processes including development of a mine closure plan and seeking a Fisheries Act authorization among other permits and approvals required prior to the commencement of construction or operation of the Goliath Project.
Collection of environmental baseline & monitoring data commenced in 2008 at Goliath and 2021 at the Goldlund and Miller projects. The company will continue these important programs to support mine permitting and community consultation activities. We also hold active exploration permits and our claims package is in good standing.
Thanks,
IR.
I emailed Treasury about it. We'll see what they say in their response.
At about 1:08:15 in the video he discussed Treasury Metals for a couple minutes.
That was definitely the longest interview I have seen with Keith. From the way it sounds their bullion shop is doing very well. I laughed when they talked about selling on the strip. I was listening while working so I did not catch if that was the Vegas strip, but I assume it was since they did talk about Vegas.
I did not realize the silver-gold ratio of their mines had dropped a bit so that now their mines are producing a higher percentage of gold than I remember when I owned First Majestic years ago. I was pretty surprised when he called out Amlo by name as someone who does not want foreign investment.
Implanting, that was expected - they either don't have the gold reserves they claim to have and/or they have played around with the gold they are holding as custodian for foreign entities. Rob Kirby always used to talk about numerous claims to the same ounces of gold in their possession and that it was one of the mechanisms they used to control the market.
I can't blame any foreign country that is seeking to repatriate their gold held in the US. As someone who has paid into the social security ponzi, I would like a complete payout right now at a significantly reduced rate rather than waiting a few years until I am eligible and they have ruined it somehow - tie payouts to assets held (i.e. - some nonsense like your house being worth too much, the value of your stocks is too high), inflation destroying the purchasing power of the monthly payout, etc.
We seem to be seeing the action we were expecting years ago, eh? EOM
Keith talking with Ron.
Interesting......so the manufacturing numbers are strong, eh? Just like the jobs numbers, inflation numbers (supposedly going lower), etc. Are the manufacturing numbers really going higher or is this just another con job? You gotta wonder. Particularly with people ignoring the big EV push in the auto sector and most people not having enough money to get buy in any type of financial emergency. I guess if government purchasing is strong enough that could temporarily boost the numbers, but even if that were true how long will it last with the debt increasing 1 trillion dollars every 4 months and the interest on the debt increasing 100 billion every four months. Soon that will shrink to 3 months.
If they cut loose with the money printing maybe they can kick it to next year. Whether they are successful or not, don't you think we are heading toward an extended severe recession or depression?
Alaska, thanks for the information. EOM
Just listened to Vermuelen video section you pointed out. I am curious to see if his feeling play out. He seemed very positive on gold and the movement of gold over the last few days proved him right.
One thing that concerns me a lot which not many have talked about are changes to the capital gains tax rates that have been put forward in the last year or two. If Congress passed them that could cause a market selloff. Also, if the current clown somehow manages to get back into office that could cause one also.
Have you heard anything about internal revenue code changes lately?
Reading Fink saying that to me means that his company is now positioned to take advantage of the market selloff and recession/depression that are coming. Reading what he said reminds me of reading what Greenspan used to say. Oh, such and such is now a concern/problem, when they knew it was a problem years ago but their companies and/or friends benefitted on the ride up and will now benefit on the ride down. Wash, rinse, repeat.
I have not checked the DXY lately and did so a few minutes ago - around 104.
Big Ridge Gold
I am really curious to see if they can keep the economy floating until the election. I still have doubts China Joe will make it out of the convention as the nominee. They could let the economy tank and blame it on Joe. Of course a wildcard event could derail the market.....WW III, the next plandemic, massive bank contagion and several others. Or perhaps we become Venezuela.....have the world's best performing market for a year or two as the currency is printed into oblivion.
So my understanding is the dem convention is going to be in Chicago. The Chicago area has a large Palestinian population. I wonder if we'll see protests and arrests if Netanyahoo does not have his war wrapped up by then? Chicago, like New York, has been giving the illegal aliens a lot of things ordinary citizen folks do not recieve. We might see some protests related to that as well.
Enjoyed the analysis and article. Per a point brought up by Implanting, have you heard any rumblings about Canada starting to build gold reserves back up? Have any MPs been discussing that? Just curious...
They just need to return all of the Fed's authority over monetary policy to Treasury. The rank politics on display in that history summary shows the Fed is nothing more than a political organization. Meanwhile, the average person is getting hosed by inflation the government won't acknowledge because they have removed some of the key metrics from the CPI.
It really lays bare the fraud Powell is perpetrating and as you said will never be acknowledged until the crisis hits. I just hope the banks in Canada don't have the same CRE exposure as it could have an impact on rates and lending across all sectors, not just CRE.
Heck, if FF gets their timing right they could probably buy their own building in Vancouver by the time the dust settles.
Good article about CRE. Looks like some bigger banks have hefty exposure too.
https://winepressnews.com/2024/03/25/jerome-powell-caught-lying-fdic-data-reveals-mega-banks-have-large-exposure-to-commercial-real-estate-not-just-regionals/
Great posts, interesting reading. EOM
I try to throw what I can up on the board. It’s not anything that can’t be found with minimal searching. I enjoy reading your posts as I think your analysis and thought process are typically deeper and better than mine. That goes for others on the board – Nsnz33, Pollisis, traderjoe3227 and several others who have posted here over the years. All have great knowledge and viewpoints when it comes to FF in particular and on broader topics like the economy, currencies, central banks, precious metals, society, history, etc.
It is a great outlet for me and helps me avoid talking about such matters to the Mrs. – whose eyes just glaze over and who does not pay attention despite the topics being of such importance. 😊
Thanks for the information. That would be a welcome development if they can make it happen. I did not realize the timeline on that could be so short.
Enjoyed your post. Any idea on what kind of timeline we would be looking at for a smaller starter pit operation at Duparquet?
Watching Janet Felon makes me wish Norm Macdonald the comedian was still alive and could do a fake interview with her to really show what a joke she is.
Agree, thanks for posting. EOM
Hopefully FF will be in a position to catch and ride that wave. Delays won't help.
A few more articles. Roughly the same as the other ones, but this is the first I have heard about concerns involving area trout.
https://www.mining.com/legal-battle-looms-amid-cat-lake-nation-first-mining-road-dispute-in-ontario/
https://miningconnection.com/surface/news/article/pause_issued_for_first_mining_golds_construction_of_winter_road_for_its_spr/
https://www.nwonewswatch.com/local-news/cat-lake-first-nation-shows-opposition-to-premier-and-proposed-gold-mine-7875259
https://www.northernontariobusiness.com/industry-news/mining/northwest-first-nation-wants-to-bring-a-stop-to-mine-road-construction-8350126
And that is the time when FF should be putting out promotional videos.