Fed raises. Says they will raise 3 more times in 2017. We’ll see.
Dollar Index surges to 103
Worse, the 10 Yr treasury has shot up to 2.6% this morning.
Yen falls to 117.72
Gold falls to $1132
Commodities seem to be resuming the post-2011 peak downward trend. They will continue as long as the dollar keeps gaining strength → which in the Eurodollar arena, outside the U.S. indicates a dollar shortage
Armstrong says Gold likely to go sub $1000 in 2017 briefly before shooting up due to crisis, probably in 2018.
It seems more and more likely that the dollar must surge and then break before gold will truly break out.
Need a starting point to weed out some of those more reliable or undervalued PM stocks? This site was first posted back in July and may not have been updated since then. I still found it may be useful as a starting point for research if you haven’t looked lately:
Progress update for Amarant Mining AB (publ) for Sept – December 2016
Amarant Mining AB (publ) is pleased to announce that we are finally underway. It has been a long and difficult journey but things are looking far better today than they looked a year ago.
The rebirth of the company is well underway with operations in Suriname started during the beginning of Q4.
Since our last newsletter we have achieved the following milestones:
•The financial reports for 2015 were audited and approved by the AGM.
•The Board has been strengthened with two new professionals, Mr Jonas Lantz and Mr Ryan Abrahams.
•Listing process is under way.
•The last of the restructuring is proceeding and the new shares are now issued and registered with the Swedish Bolagsverket. You will receive notification of your shareholdings by the end of January.
•The Gold Future has been renamed as the Amarant Royalty Note (“ARN”) to better reflect its actual nature as a participation in a royalty stream from the Benzdorp Concessions.
•The Board has approved a new budget for 2017 to 2020.
•Funding for the first production line and exploration unit has been secured through a loan from a London based investor.
•A new share offering to strengthen the Company’s equity position is underway. This is initially directed to existing shareholders of the Company.
•The Company successfully participated in two investment conferences, one in London and one in Munich in October and November.
There is still a lot to be done before we are fully operational.
May be worth a look - disclosure, I only received the following news because I have a small position. Let me know what you think. The company has been around 26 years.
OceanaGold announces first gold pour at the Haile Gold Mine in South Carolina
BY Canada NewsWire
— 1:44 AM ET 01/20/2017
MELBOURNE, Jan. 20, 2017 /CNW/ - OceanaGold Corporation ( OGDCF ) (the “Company”) is pleased to announce first gold production at the Haile Gold Mine. Today, the operation poured its first gold doré bars totalling 445 ounces.
OceanaGold Corporation is a mid-tier, high-margin, multinational gold producer with assets located in the Philippines, New Zealand and the United States.
I had bought a few shares a while back. I think it will do well. Pebble is the world’s Largest undeveloped Copper and Gold Resource.
Yesterday’s news really moved the stock up:
Market Chatter: Northern Dynasty Minerals Soars to Highest Since 2013, Expects EPA Dispute to Be Resolved So It Can Move Ahead with Pebble
BY Midnight Trader
— 3:50 PM ET 01/23/2017
03:50 PM EST, 01/23/2017 (MT Newswires) – Northern Dynasty Minerals (NDMWF) jumps 10%, earlier hitting the highest level since 2013, after the company said it expected to resolve a dispute with the U.S. Environmental Protection Agency within 100 days to enable it to move ahead with permitting one of the world’s largest undeveloped copper and gold deposits, called Pebble, according to Bloomberg. http://www.northerndynastyminerals.com/i/pdf/ndm/NDM-CP.pdf
Easy Million…yes unfortunately per my post back in November. (I have been following it for many years.) Watching it take off to the moon without me. The outcome of the election pretty much erased most of the environmental concerns almost overnight that were weighing it down. And they just raised a lot of capital to boot.
I did pick up NAK after your post, so thanks MG.
Also, MUX thanks to HR. There have been a few very nice picks mentioned on this thread. I picked up Nova Gold (NG) back in 2007-2008 at an average cost of $12, so maybe I should have just kept my eye on it Mike, but I think after the election it is another one that will pay off in time. So not all take off right away!
I do have patience with a few others than the ones on the main threads here (MDMN, CDCH). Rick, I did pick up Inventus Mining, but went with IVS:TSX instead of the thinly traded GNGXF. It has yet to pay off, but with McEwen I’ll stay patient.
BrazilResources is another one I have my eye on, but yet to pick up (thanks Karl, CHG, et al). It has now undergone a name change to GoldMining Inc (GOLD:TSX-V, or GLDLF). It looks to be big, but not a behemoth. It is not the same company as before, but McEwen has a 10% stake here. Interestingly, I think it let go of Red Eagle Mining (RDEMF) earlier, which I picked up and is doing well. Another one I like that is doing well is Atlantic Gold (SPVEF) which is small scale, but a low cost miner. Appreciate the leads that have shown up here from time to time from those that care to post. Not endorsing any of the above mentions (except maybe NAK and NG, just due to how well known both are resource-wise, and now GoldMining Inc.) all of which are long term. FWIW, I put up some of my picks in case anyone wants to take a look at them. As always, do your own DD before investing.
They currently lack a big partner but I assume one will appear when they get EPA approval to move forward. The upside potential remains enormous but environmental problems will remain the principal risk due to the shear size, scope and location near a Salmon fishing area.
Something that may be of interest to those sitting on the sidelines during the recent run up. May be some good opportunities to pick up some of those mining companies on your watch list:
…With options expiration for February gold on Thursday, it appears the bullion banks are intent on capping gold under $1200.
Chinese markets are closed for the next week for Chinese New Year, and the Fed’s FOMC Meeting is scheduled for next Tuesday and Wednesday, so caution is urged over this short term Triple Witching Week – particularly as the metals have just completed 6 weeks of nearly uninterrupted gains.
I was at the Vancouver Resource conference over the weekend and and Northern Dynasty was a very hot topic that kept coming up in a number of speeches. The general consensus is that one partner will not be enough and that a consortium of majors would have to get involved. They were sure that {with admin change} the EPA is will be quickly resolved. The company was also adamant that the project would have no adverse affects on the salmon fishery. Wish I’d known about the company a year ago but will be taking a position soon.
Feb. 1, 2017 |About: McEwen Mining Inc. (MUX)
Tim Paul Summary: CEO knows how to make money for shareholders.
Currencies are being devalued across the globe.
San Jose mine spins off $13 million in dividends.
Rob McEwen is not your typical CEO. After a highly successful tenure as founder of Goldcorp (NYSE:GG), he launched McEwen mining (NYSE:MUX) and is banking on a robust stock price move, since he commands a paltry salary of only $1 per year.
