Wow. I first heard about bitcoin when it was less than a dollar. Figured it was going to be another flop. dang.
Looks like Ethereum is the new rage in that category.
If you bought $100 of bitcoin at the 0.003 cent price on May 22, 2010, youâd now be sitting on around $72.9 million
Ahhh wouldnât that be nice to see that here
If we would have known , we would have been all rich, but who can predict that, still think a cryptocurrency backed by gold is much better, at least you have a physical value with the digital one.
The key is getting someone to buy it. Something is only valued at whatever someone is willing to pay for it. No one is going to give you 72 million dollars for your stack of fake money. So, itâs really not worth anything.
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You make it sound like you have to find one buyer to buy all of those coins. There is an enormous market for bitcoin and other currencies. At minimum, you could convert it to ETH or other coins.
It also vey expensive in fees to buy bitcoins,i have tried, but it was to expensive,.
Barkerville drills 12.7 m of 24.13 g/t Au at Cariboo
Drillhole IM-17-107 intersected new auriferous quartz veining grading 49.79 g/t Au over 8.05 metres fifty metres vertically below surface.
For what its worth, me and another gentleman had a chat with Rick Rule at the IMW conference in Vancouver last weekend. We asked his opinion on a few companies and commodities.
We started talking about Ivanhoe Mines. Rick loves the company and thinks their projects still have a fair bit of exploration potential. He touts one of the best management teams in the industry, owning a world class copper deposit, a world class zinc deposit, and a world class PGM deposit. Last year they were trading for their cash position essentially which shows how crazily undervalued some stocks were. (I sold last month and made almost 5x in the year.) Rick has recommended his clients sell enough of their position so that they are playing with house money, even though Rick hasnât sold any. His main concern is that two of their projects are in the Congo and he had also mentioned another mine in the Congo where they used to use what is essentially slave labor to haul tin ore 30km to the closest road. A bit later, one of the other guys asked if Rick had any recommendations on where to look for a 10 bagger and he suggested Alphamin. This was the tin mine he had alluded to earlier in the conversation.
He told us about the ridiculous grades compared to other tin mines in the world, (9x average) and that the local govenment is quite on board with the project. The mine would almost triple Congoâs current tin production. Apparently Rick was in the Congo a month or so before hand and figures that their will quite possibly be some sort of conflict in the Congo this year, due to the amount of armed men they saw driving around in trucks all the time. While I didnât specifically ask, I would assume that any sort of conflict would be negative for prices stock prices in the short term, which may be a good entry point for any stocks with operations in the Congo. He made it a point for us to understand that the tin had been there for a very long time, and doesnât care about short term geopolitics.
I asked about supply demand fundamentals for tin as I know nothing of tin mining. He explained that there is expected to be some sort of a shortage in the years ahead and that new tin mines are rather few and far between. China will be losing some tin production and I asked if that is due to clamping down on polluting mines, which is part of the Zinc shortage narrative. He explained that much of Chinaâs tin production is actually placer mining along the Yangtse River and that he expects some other to come off line, as it is extremely filthy. He went on to tell me that the Chinese have never really looked for the source of all their placer tin, and that he would absolutely love the opportunity to be involved in a company exploring for the source of the tin. I assume if the Chinese start looking, and find it, they could put massive amounts of tin mining into production.
When asked, Rick also disclosed to us his position in the company. I donât feel that it my place to share how much of a position he has, especially since I didnât see it stated anywhere on the companyâs website. I will say that he has what most would consider quite a significant position in the company.
The other gent asked him his opinion on the uranium industry and he likes it but they as of yet, barely have any holdings in the uranium junior sector. Rick thinks a shortage in uranium is still around three years away. Sprott is currently doing a report on the sector and interviewed CEOs from most of the uranium companies. They thought most ofthe CEOs would come up with a similar narrative for the sector, but they all came up with something a little bit different. Rick is sure that what one wants to pay attention to is the restart in Japanese reactors. He thinks this will be one of the main catalysts for a turning uranium market.
I inquired about one of my holdings, Western Uranium, which is run by George Glasier, whose last uranium company went up 70-80 fold in the last uranium shortage. Rick likes the fact they have a complex with an old permit for a uranium tailings mill. He is sure there wonât be any more of those permitted in the US anymore. He doesnât like that the company has a collection of small mines. Heâd rather own companies with large mines.
He was then asked about Callinex, which is exploring for zinc in Flin Flon, Manitoba. They hit a huge hole last year which brought attention to the stock and their head geologist is responsible for discovering some of the largest mines in the Flin Flon district. Their last two sets of follow up holes since then have been quite disappointing and the market has showed that. They also have some other zinc projects in New Brunsick which they are just starting to drill now. Rick views these properties as a kicker, and probably wonât mean much. The main prize is Flin Flon. He states that it will be a binary outcome for the company. They will either fail or succeed in finding something in Flin Flon. No grey area. Even though the stock is down by 40% he hasnât sold any as Flin Flon has always done well for him. Rick states he likes these kinds of exploration odds, where the odds are he will lose half his money, but thereâs chance for a 10 bagger and if you run those odds all day long youâll always come out on top.
I inquired about another of my holdings, Nevsun. Rick loves the company, even though they have had some problems with the metallurgy at their mill recently. He especially loves them now that they are on sale and he understands why. A couple months ago, the company slashed their 5% dividend down to 1%, so that they could commit $120 million towards their world class copper gold project ,Timok, in Serbia. The stock immediately tanked as it was held by many income and dividend funds, whom dumped their positions. While the slashed dividend made a lot of people lose interested in the short term, the company will absolutely shine a few years down the road as Timok is developed. He speculates that they may be a take out target, but hopes not, as he feels the companyâs best days are ahead of it.
Finally, I inquired about his opinion on the potash sector and he says he loves it right now because everyone else absolutely hates it. No one cares for potash at the moment. He is also a really big fan of phosphates, which is also used for fertilizer. He said that they still donât know exactly how they are going to play the potash/phosphate sector yet, as he feels there is still a time before it will turn positive. I asked if had any suggestions on where to start looking in that sector and he
told me to have a look at Growmax. Iâve looked into the company and their NPV and IRR are both pretty paltry, but I assumed those could be quite improved if they do infill drilling as their
inferred resource is three times as large as their M&I. On the plus side, the company is trading at a steep discount with a market cap of $25M and a working capital of $50M.
I thanked Rick for his time and headed home as it had been a long two days and it was beautiful outside. Way to nice to be spending it all in a convention center.
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Thanks Bytal.
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awesome post, Just curious was Bentwood the other Gentleman?
Sorry, Brentwood
It was just another attendee at the conference. Is Brentwood (Dennis) still around? I used to work with him about 5-6 years ago and heâs the one who got me into MDMN. Havnt seen him since he left for a different shop.
Bytal,
Thank you for one of the best posts Iâve read on TMP in years. I appreciate the contribution. I followed Nevsun for a bit, but never bought. Iâll take another look at them.
Thanks again,
Rick
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A small silver company that Iâve very recently become aware of has put out a couple really interesting discovery releases at their Moroccan mine in the past two weeks. They are also intending to more than double production next year, and add grinders and floatation cells to reduce production costs. I know Doc is always reminding us of the nugget effect, but its near surface and the grades are pretty damn impressive. Definitely one to look into.
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WOW! Insane silver deposits at Mayaâs Zgounder Silver Mine Morocco. Truly awesome ⌠But are investments in Morocco really where one should put their money right now?
Arab unrest spreads to Morocco
Political unrest in the Middle East has now spread to the westernmost outpost of the Arab world, in the North African kingdom of Morocco.
Thousands of people have demonstrated peacefully in several Moroccan cities to demand that the ruling monarch, King Mohammed VI, reduce his powers through changes in the constitution, dismiss his government and eliminate corruption. (They are not seeking the kingâs resignation).
Demonstrators included human rights groups, leftist and Islamist groups, trade unionists and advocates for the Berbers.
Arab unrest spreads to Morocco | IBTimes
I was in Morocco for a couple of weeks in January and actually met with a silver miner in the Atlas mountains. He was trying to sell me some gems, fossils and even a meteorite that he found out in the Sahara. (not sure what company he worked for. For fun, a travel video I made can be seen here: Morocco Vacation Highlights Gate 1 Travel Tour January 2017 - YouTube )
I wouldnât be overly concerned about any political unrest there. They really like their King and most seem very positive about the direction their county is heading. The geology is very diverse/complicated and wouldnât be surprised of some major mineral deposits are there that are yet to be exploited. )
Mike, I appreciate your first-hand insight into the country of Morrocco.
Perhaps it is just my cautious nature after having a rather substantial loss on an investment in the Las Cristinas mine some years ago. This occurred after years of Crystallex developing the infrastructure and communities around the mine. At Las Cristinas, a number of local infrastructure and community projects have been completed, including:
-Thirty new homes were constructed for local residents.
-Installed one new water treatment plant and upgraded two existing plants.
-Built and installed a new sewage treatment plant and related sewerage network.
-Upgraded and paved local community roads.
-Constructed a new 10,000 square foot, 20 person hospital with housing for medical staff.
-Upgraded the local medical centre
-Provide medicine and doctors and dentists to the local clinic.
-Providing ongoing job training programs to small minersâ associations.
-Sponsoring training programs to local communities.
-Established anti-malaria facility at site.
In addition, the Company employed over 125 local residents and provided programs for technical assistance training and the Company funded and administered a scholastic scholarship program.
On January 26, 2004, the mayor of the Municipality of Sifontes and the Governor of Bolivar State presented Crystallex and the Las Cristinas Project with the âOrden (Order of) General Dimingos Sifontes â Primera Claseâ. This annual award is the highest award bestowed by the Municipality and recognizes Crystallexâs contribution to the Municipality and its residents.
All the news was good ⌠until it wasnât. Things can develop and turn rapidly in politically unstable regions.
Crystallex: Venezuelan Mining Contract Terminated
CARACAS, Venezuela (AP) - Canadian mining company Crystallex International Corp. said Sunday it has been notified by Venezuela that its contract to develop a major gold mine has been terminated.
Toronto-based Crystallex said on its website that it received a letter from the state company Corporacion Venezolana de Guayana, or CVG, saying its operating contract for the Las Cristinas mine has been âunilaterally terminated.â
The statement said that enclosed with the letter was a copy of a CVG resolution formalizing the decision, citing a purported lack of activity by Crystallex on the project for more than a year and also âreasons of opportunity and convenience.â
Crystallex said it had upheld its obligations under the contract and prepared the site to a âshovel readyâ state while awaiting a permit from the environment ministry. The environment ministry denied the request for a permit in April 2008 despite âCrystallexâs fulfillment of the conditions to receive the permit,â the company said.
Crystallex has considered the Las Cristinas mine in southern Bolivar state to be its principal asset, estimating it holds about 17 million ounces of gold.
It does little good that:
CRYSTALLEX AWARDED US$1.386 BILLION BY ICSID FOR EXPROPRIATION OF LAS CRISTINAS MINING PROJECT BY VENEZUELA:
TORONTO, ONTARIOâ(Business Wire - April 5, 2016) - Crystallex International Corporation (TSX.V: KRY) welcomes the Award released yesterday by the Additional Facility of the World Bankâs International Centre for Settlement of Investment Disputes (âICSIDâ) in relation to its claims against the Bolivarian Republic of Venezuela (âVenezuelaâ). The Tribunal awarded the company damages of US$1.202 Billion plus pre- and post-award interest due to Venezuelaâs unfair and inequitable treatment, and unlawful expropriation of Crystallexâs investment in the Las Cristinas mining project.
âoverall conduct vis-Ă -vis Crystallex, thus violated the [Treaty] standard ⌠and caused all of the investments made by Crystallex to become worthless.â
Crystallex filed its Request for Arbitration before ICSIDâs Additional Facility on February 16, 2011 pursuant to the Agreement between the Government of Canada and the Government of the Republic of Venezuela for the Promotion and Protection of Investments (the âTreatyâ).
The Award, which was rendered on April 4, 2016, upheld Crystallexâs claims that Venezuela breached Articles II(2) and VII(1) of the Treaty by failing to accord Crystallexâs investments in Venezuela fair and equitable treatment and by unlawfully expropriating those investments.
As a result of these breaches, the Tribunal has ordered Venezuela to pay damages currently amounting to US$1.386 billion, based on a value for Crystallexâs investment in the Las Cristinas mine of US$1.202 billion on 13 April 2008 â the date when an environmental permit was denied by Venezuela â together with pre- and post-award interest from that date.
Among other things, the Tribunal criticized Venezuelaâs Ministry of the Environment for its âarbitraryâ and ânon-transparent and inconsistent conductâ in connection with its denial of an environmental permit. The Tribunal stated that it âcannot but conclude that the Permit denial letter and the Romero Report on which the first appears to be based are so fundamentally deficient that, to the eyes of a reasonable third person, they âsurprise a sense of juridical proprietyââŚâ. Venezuela, the Tribunal concluded, âfrustrated Crystallexâs legitimate expectations âŚ, engaged in arbitrary conduct in denying the Permit and rescinding the [Contract it had signed with Crystallex], and committed several acts lacking transparency and consistency.â The Tribunal therefore found that Venezuelaâs âoverall conduct vis-Ă -vis Crystallex, thus violated the [Treaty] standard ⌠and caused all of the investments made by Crystallex to become worthless.â
Robert Fung, Crystallex CEO commented: âOn behalf of Crystallexâs board of directors, management, employees and all of its stakeholders, we are pleased that the Tribunal has recognized Venezuelaâs unlawful expropriation of the Companyâs investment in the Las Cristinas mining project. The company looks forward to collecting on the Award on behalf of all of its stakeholders. We thank our stakeholders for their deep understanding and support throughout this difficult and prolonged process, and our legal team, led by Freshfieldsâ partner Nigel Blackaby.â
About Crystallex
Crystallex International Corporation is a Canadian based mining company, with a history of acquiring, exploring, developing and operating mining projects. Crystallex has successfully operated an open pit mine in Uruguay and developed and operated three gold mines in Venezuela. The Companyâs principal asset is its international claim in relation to its investment in the Las Cristinas gold project located in Bolivar State, Venezuela.
http://www.crystallex.com/News/PressReleases/PressReleaseDetails/2016/Crystallex-awarded-US$1.386-billion-by-ICSID-for-expropriation-of-Las-Cristinas-mining-project-by-Venezuela/default.html
I feel that Morocco is more politically stable than the U.S right now! 
Despite it not having petroleum resources, investment money is pouring in from some of the Gulf states with signs of prosperity/new construction everywhere. China also is involved. Europeans have homes there and drive down via ferry through the Strait of Gilbrator. The infrastructure/road network was well beyond my expectations. They really like Americans but despise Algerians. Every Western hotel or almost every street corner has squad of troops/police standing by. Certainly as far as Africa is concerned, it might be your safest investment bet.
Barkerville Gold drills 7.2m of 12.43 g/t Au at Cariboo
Drilling highlights
CM-17-015: 25.21 grams per tonne gold over 2.00 metres;
CM-17-015: 33.40 g/t Au over 1.50 metres;
CM-17-018: 12.58 g/t Au over 5.50 metres;
CM-17-023: 10.94 g/t Au over 7.85 metres;
CM-17-023: 12.43 g/t Au over 7.20 metres;
CM-17-023: 5.22 g/t Au over 19.55 metres;
CM-17-024: 7.20 g/t Au over 9.05 metres.
AND
New mineralized corridors discovered at depth in Valley zone
Deeper drilling at the Valley zone, which has not been explored circa 1960 has again yielded new, previously unidentified veining corridors.
Drill hole CM-17-023 intersected three separate veining occurrences grading 10.94 g/t Au over 7.85 metres, 12.43 g/t Au over 7.20 metres and 5.22 g/t Au over 19.55 metres at respective depths of 270 metres, 310 metres and 375 metres vertically below surface. On the same vertical section and located 50 metres above CM-17-023, drill hole
CM-17-018 intersected 5.46 g/t Au over 5.20 metres, 12.58 g/t Au over 5.50 metres and 11.57 g/t Au over 2.00 metres, and indicates a positive correlation with respect to continuity. CM-17-018 also intersected 13.92 g/t Au over 2.00 metres followed by 8.16 g/t Au over 4.00 metres in another new separate corridor 55 metres northwest of the former.
These new corridors are open for expansion in all directions.
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