Thanks Rich and will do so.
Few stocks I’ve done quite well on in the last month, FSD PHARMA (huge) don’t know where the rally will stop, NAMASTE (v.n) is doing well with another good run and TETRA BIO (tmp) I think early stages
Think I missed out on VALENS GOWORKS (vgw)
Cheers
Here’s the update on PACXF daily interval, which dipped below the 180 MA and closed right on it.
If that doesn’t hold, then the weekly interval shows trend line support below, right around .22 at the moment.
I’ll look them up and see what I can do over the weekend.
Just wondering if anyone heard when the Artemis processing facility will be up and running. TIA
No “up and running” date has been announced.
Beyond that the answer is not black and white.
The Aug 20 announcement re. the gold circuit is here:
https://artemisresources.com.au/investors-relations/announcements#
which basically says all the permits for the new gold circuit have been received. Construction on that gold circuit is in process and was generally felt to be a fairly short process on the order of a couple of months. There are progress pics on the Artemis twitter account (https://twitter.com/Artemis_ARV). And on HotCopper.com there are fairly regular reports of locals who drive out and report the visual progress personally although they have no understanding of the details of what’s happening of course.
So I think it is generally felt the gold circuit should be able to be up and running before end of 2018.
Under the current approvals the Company can operate a geotube facility as a temporary solution to contain gravity circuit rejects for potential future retreatment. Geotubes are an interim but high cost option available to the Company that will be further assessed depending upon the timing of tailings storage facility (TSF) TSF3 approvals.
Concurrently, Artemis will advance submissions needed for Stage 2 base metal operations at Radio Hill including a new, 4Mt tailings storage facility (TSF4).
Basically there is an issue with the current tailings facility being full or not permitted or something. And additional permits are required before a new facility can be “up and running”. Thus there is no way the plant can be “up and running” at full 500 Ktpa until that happens. And this is necessary before any base metal mining will occur.
So bottom line, at present, IMO, the expectations are that they will complete the gold circuit and commission it and be ready for some sizable bulk sampling (e.g. 5kg or 10 kg samples) of the gold conglomerates to really establish some kind of expected grade. This will probably go on for several months (Q1 2019 ?). This is very important since the gold conglomerate story is the underlying driving story of the Pilbara at the moment. But this stage will be more about setting grade and maybe trying to establish an early resource than about production revenue.
After that, once they get govt. permits for the stage 2 tailings facility and construct it, then sometime in 2019 (?) they could commence with either gold production or base metals production depending on what is most attractive at the time. There is a modest 4Mt nickel / copper resource right there next to the plant (https://artemisresources.com.au/our-projects/major-projects/radio-hill-processing-plant) that is easily mined via open pit. (copper grade 0.88%)
So they have quite a few decent options. Base case one should expect revenues in 2019 IMO and they should have money in the bank enough to get there.
But if the gold conglomerate comes in at a decent grade and has decent continuity / size I think that will be the driving story for the SP before there is major revenue. Thus the gold bulk sampling is very important and hopefully starts before end of this year. Novo is expected to start announcing results of their bulk sampling in the next couple of weeks (according to their Chair/President) continuing going forward. Artemis’s bulk sampling will be able to be even greater sizes and be done rapidly, almost trial mining, because of the RH plant. The two will be sampling from different but nearby properties. So the whole gold picture should start moving forward in Sept. with Novo’s reports and become pretty clear in 2019. If the gold story busts, Artemis will turn to the copper / nickel / cobalt resources they have.
Would appreciate OROCF, NEM and FUND when you find time.
TIA
I guess I should have mentioned earlier that, because this is a mining/metals oriented site, I need to keep the charts focused on that sector. Those that were requested this weekend that apply will get posted.
Would highly recommend everyone watch, on the McEwen website, a presentation of the prospective changes at McEwen that just came out a couple days ago. It was very informative and can’t help but think it will have a positive effect on the stock price.
http://mcewenmining.com
Rich, a chart on PVG, please.
Anyone have ideas on Pretium in light of the Class Action suit by Rosen Law Firm that I saw announced yesterday, Sept. 8? (Disclosure - I have a long position slightly in the green presently.) I rather liked this lengthy Bullish article on PVG appearing September 7:
(Bill Fleckenstein Discusses A Huge Story Unfolding In The Gold Sector This Week | King World News)
I’m thinking we’ll have mining guidance and results before the lawsuit can do much more in the way of damage. Short position appears to be about 9.5% (16 M shares). According to the article in KWN, October 1 should have news out that could swing stock price one way or the other. Q3 production figures should tell the full story. Noting the Fleckenstein article appeared a day earlier than the lawsuit announcement; I have to weigh risk reward on this one. The market should have an answer on Pretium Resources Inc. by the end of the year. IMO
OROCF
The weekly interval is in oversold territory on the RSI, although there’s room to go lower. The last candle indicates that there was some buying interest going on after the dip below 2.50 and there is support in the 2.30 - 2.10 range. The two daily interval charts get more interesting…
The first of the daily intervals shows divergence between the last two RSI/price lows. If you notice the shortest of the downtrend lines, there was a false upside breakout for four days that possibly pulled some bulls into the stock only to leave them upset with a decent gap down open last Wednesday, back under the downtrend line resistance. But, there is another potential positive shaping up to pair with the RSI divergence…
The second daily interval is outlining a potential downward wedge, typically bullish. Providing the recent low remains the low, add .87 to the point of the breakout to determine the measured move, or target price, of the breakout.
NEM
The monthly interval shows the resistance at the 130 & 180 MA’s, as well as a drop below the 50% retracement of the last major low of 15.39. If a bounce doesn’t occur immediately, watch for the 62% level which has a decent horizontal support level around 26.50.
On the weekly interval you can see the drop below the 180 MA support out of a bear flag, with last weeks trading below the 50% retracement level. This wouldn’t be a surprising place to get a reversal as a look to the left of the chart shows there is some support to be had here, and the RSI is heading towards very oversold.
The daily interval shows another RSI divergence here. If you notice the downtrend line I drew, there are places where daily trading went above the trend line, but notice that each of those days closed below the line. Definitely watch for a close above this line with support to follow. Buying at this level is a little early and aggressive, but it could make for some quick profits. Many of the gold charts are showing similar signs like NEM.
FUND Weekly Interval
This trades low volume so I found the weekly interval the most useful. As a matter of opinion, if I were in this as an investment I wouldn’t even look at the daily interval as the roller-coaster movements could be dizzying to the point of nausea. (It may be fun to swing trade though if you can master it). This is entering oversold territory on the daily RSI and it’s getting close on this chart. The 7.60’s are a strong support/resistance level which has become resistance as of last week. There is strong support below in the area of 7.28 and also around 7.11. You can see the 130 and 180 MA’s are in those two support areas as well. I would watch for support in those areas and, with this stock, also watch for hammer candles with long lower wicks to mark reversals fairly consistently, especially on the weekly time frame. It also likes to do 50% retracements quite a lot, with occasional 62% levels being hit. I didn’t want to clutter the chart with a bunch of Fib grids, but I played for a while with it. 
PVG Weekly Interval
This is another stock where the weekly is more helpful than the daily. The yellow horizontal lines are so far pretty dependable S/R areas and the grey lines are what I would call minor S/R areas but definitely worth noting. Early this year PVG lost its year and a half long support from the 130 and 180 MA’s. You can see the break down to the 6.22 support area then a test of the bottom of the 130 where resistance was established. Now the stock is not yet in extreme oversold territory but it does like to bounce when the RSI is in the high 30’s. At this point I would be watching to see how the 6.22 area holds. This time it may not quite get to the 4.90 level but there is a support range in the mid $5 level. Probably not a bad place to add if you can get a divergence or bottom formation on the chart.
Dollar Futures Contract Weekly Interval
The 180 and 130 MA’s are back to playing resistance on this time frame.
The monthly interval looks like a breakout of a bullish wedge. Watch the MA’s on the weekly to see if that resistance holds.
Pacton Gold (PACXF) has had some interesting trading today. It’s been on a precipitous decline of late and seems to have flushed out today. It was down around 15% at one point earlier today, but is now green. I’ve been waiting to average down and almost pulled the trigger today, but chickened out. We’ll see how this shakes out.
RNC Minerals Soars After Striking Gold in a Once-In-a-Lifetime Find
Shares in Canada’s RNC Minerals (TSX: RNX) were off to the races on Monday after the miner revealed it had unearthed more than 9,000 ounces of high-grade gold from a single blast over the past few days at its Beta Hunt mine, in Western Australia.
That’s more than 560 pounds (255kg), or $10 million of gold in just four days, if you were to just cash it in today.
RNC Minerals’s shares skyrocketed on the news, trading up more than 80% to 18 Canadian cents in Toronto at 9:30 am ET.
The largest rock weighs about 198 pounds (90kg) and took three men to lift it onto the back of a pick-up truck. It’s covered in an estimated 2,300 ounces of gold worth about $3.8 million at today’s gold price.
The second-biggest piece was not far shy at 132 pounds (60kg), with an estimated 1,600 ounces lodged within the quartz specimen, valued at about $2.7 million. And there’s more where that came from.
“Recovering 9,250 ounces of high grade coarse gold from a single cut on the 15 level at our Beta Hunt mine, including specimens which could rank among the largest ever discovered, underlines the importance of this discovery,” Mark Selby, President and CEO of RNC, said in the statement.
The executive noted that barely eight weeks earlier, at the end of June, 1,500 ounces of high grade gold were recovered from other sediment structures on the 14 and 15 levels. “These discoveries highlight the high-grade gold potential of Beta Hunt,” Selby said.
In the June quarter, RNC Minerals extracted 13,320 ounces from the mine, which is actually on the market — the company is trying to find a buyer willing to fund more exploration drilling.
RNC plans to auction off some of the most impressive specimens as according to Selby, collectors in North America and around the world are known to pay up to a 50 percent premium on the gold metal value for rare specimens.
“Given the rarity of the rock, and the physical beauty and presentation of the gold that’s there, it’s a very spectacular stone in multiple ways so we’ll see whether 20, 30 or even 50 percent premiums apply here,” he said.
But not only that — the Toronto-based company may soon sell the mine itself, as it has been trying to find a buyer willing to fund more exploration drilling.
“Given the significance of this discovery to the exploration potential and value of Beta Hunt, RNC has decided to consider all alternatives, including a sale,” RNC said in the statement.
RNC is the first owner of the Beta Hunt mine to focus on drilling deeper in the Lunnon Basalt in its search for gold. No wonder is also the first one to discover and mine gold from newly found coarse gold located entirely within the Lunnon Basalt.
Previous bonanza grade specimen stone occurrences at Beta Hunt, says the company, were associated with the nickel-sulphide bearing contact between the Lunnon Basalt and the overlying Kambalda Komatiite, where RNC and previous operators have mostly mined nickel.
The 45-year-old Beta Hunt gold mine is located 600km east of Perth and 50km south of Kalgoorlie-Boulder.
http://www.mining.com/rnc-minerals-soars-striking-gold-lifetime-find/
Still holding the steepest downtrend line, but closed above the 180. Volume was greater than the 20 day average, but nothing outstanding. No RSI divergence either. I think you were wise to stay out at this point Rick. One hammer candle makes not a bottom.
MUX has only mustered a 38% retracement of the previous 2.52/1.86 range, with the 130 and 180 overhead. This one looks like a bear flag. If it plays out this week the target is 1.69 give or take a few cents. 1.69 is a support level from 2013/14 lows.
KL has dropped out of its bear flag and lost the 130 support and is now flagging with support from the 180 MA. 17.43 is the target of the bear flag it has already broken down from which is just above the 62% retracement level. There is RSI divergence on the last two lows. This one likes to make little double or even triple top and bottom formations before it moves up or down out of a consolidation. Otherwise it doesn’t appear to be big on formations. For now this is still in a downtrend until it at least recovers support in the high 18’s and even better if it moves up and finds support in the high 19’s.
