Yes. Today was another important day.
"It was once posted on Theminingplay that s Scottrade manager has a huge short position on Medina, and was determined to put Medina out of business. Was that posting even possibly true, and could that have any bearing on the current SP problems???
Interesting… I too would like to know if this was posted, and if it has any merit behind it. I hold a nice MDMN position with Scottrade.
An informative post well worth reviewing:
A great post by @cornhuskergold from the old forum.
Mike…Mike…Mike…Mike…Mike…Spit it out…Thanks…Two days and very little selling…
Gold up 1275
A little news report out of Peru quoting Maurizio Cordova and mentioning Masglas. It has nothing to do with MDMN. It’s an article in the Economy section of an online Peruvian newspaper. The article is about the changing copper industry and how Peruvian mines are adapting and remaining competitive. Regardless, it’s always, press is press.
Great find Kevin! Mr Cordova is well known in South America. Nice to be partnered with someone who doesn’t BS around and is all about business. If we can only turn back the clock 6 years ago
Of special interest from you and Rickards article for those who follow the impact of the SGE:
Using these figures of 450 tons of indigenous output, 1,400 tons of imports and zero exports; the Chinese were acquiring about 1,850 tons per year. This rate of acquisition has persisted for at least seven years. Based on this information, China has acquired about 13,000 tons of gold since 2009. Even if one assumes China started from a low base in 2009 (say, 3,000 tons), China’s total gold hoard today (public and private) would be about 16,000 tons, considerably more than the United States and about the same as India.
Will the SGE gold benchmark fix the fix
This is a bit of a contrarian viewpoint but I believe the following will occur over the next few years:
Now that China has been added to the IMF SDR they can afford to devalue the Renminbi. This step is an unavoidable necessity to deal with th 40 Trillion in debt facing the slowing nation. However, before they devalue they will, and already have paid back most debt based in US$ and they have and will continue to buy as much gold as they can get their hands on. The devaluation is going to be quick and steep allowing a deleveraging of debt through inflation.
Following the currency devaluation the PBOC will be focused on restoring credibility to the renminbi. The easiest way to do that? Create a peg to gold. I’m guessing China has 20k tons today. They could peg 20% of the renminbi with that amount of gold prices at approximately $5,000/oz.
I have been here 8 years, and it was definitely posted several years ago. Was very surprised that there was no comment about that posting at all??? Have no way of knowing if it is the truth?? Normal here for most to ignore bad news, and stick their heads in the ground, unless they can rave about someone else’s posting.
Which will we see first? $50.00 a share or $5000.00 an oz???.
The online newspapers have picked up Maglas the link below is another newspaper that has picked up the story that the Wizard posted yesterday.
Translation by Bing and may not be completely correct … (Bolding done by me)
"Peruvian investors exploit gold in the North of Chile
-Merlin area processing plant will produce 5,000 tons per month. Company is engaged - personal do of Cajamarca and Pataz with experience in gold exploration.
Peruvian investors will begin to exploit gold in the North of Chile by the end of this year. Through the conglomerate private Peruvian capital Masglas Holding, the subsidiary minera Auryn Mining Chile SpA recently obtained permits to operate in the high Lipangue gold and copper mining district.
The Chairman of the Board of Masglas and Auryn Mining, Maurizio Córdova. He explained that after the permissions on these petitions, located in the third and fourth regions of Chile, expected commissioning production es - te project.
He argued that the ore processing plant will have capacity to produce 5,000 tons per month, in the underground mining unit which will operate under the name of Merlin.
Lipangue high consists of more than 10,000 hectares, 30 kilometers northeast of Santiago de Chile. Between acquisitions and investments in Altos de Li - pangue company has des - near USS pocketed 10 million.
Cordova said that Masglas holding company is at the stage of recruitment of Peruvian geologists and mining specialists in order to work in the exploration of the project in areas adjacent to Merlin.
Through this activity is expected to find a large swath of mineralization that cross all the mining district and allowing a future gold production cross.
He explained that the recruitment of Peruvian professionals would respond to the fact that are better trained than their Chilean counterparts on the exploitation of veins of gold and underground mining, with experience in operations in Cajamarca or Pataz (La Libertad), where projects and operations of this mineral are. “’ We have a licence of small mining producers” stressed.
The Executive noted that, in the future, could make gold mining pit opened in a neighboring area, the cua1 required ria of other techniques of processing metallurgical mineral.
Please note above where the article states, “begin to exploit gold in the North of Chile by the end of this year”. While the definition of exploit is provided below I’ll point out that this is not the first time Auryn has indicated earlly production with expectations of doing so this year.
- make full use of and derive benefit from (a resource).
We’ll see $100,000/oz gold and Leslie Price become a Pope before MDMN ever sees $50.
So you heard that rumor too?
I can see the white smoke already.
I can already see the MG Persona becoming the Camerlengo in the interim.
Sorry Mike, I couldn’t resist!!
So we should see a nice climb up Also all the rumors of buying coming in and Chapin’s list of investors should start to roll in right??? LOL thank god this door is closing behind us
Gold up 1281