Last summer we highlighted the record small speculator net short position in gold futures just one week before the yellow metal ripped more than $150 in the space of a month. The latest Commitment of Traders Report shows a new record small spec net short interest as of Tuesday, September 30th: Click to enlarge Last August we… Continue Reading
This is very early in a story, the implications of which are highly unclear. However, the ebola outbreak in west Africa is centered around an area of enormous gold production (southern Mali, Ghana, and Burkina Faso): Click to enlarge Source: cdc.gov Ghana, Burkina Faso, and southern Mali all border ebola ravaged areas of Guinea and Cote… Continue Reading
The 1999-2011 gold bull market was primarily predicated on two main tenets: A weakening US dollar and the gradual demise of the dollar as the World’s reserve currency Loose monetary policy and low interest rates (even negative real interest rates) for as far as the eye could see This morning gold is falling hard following another monthly… Continue Reading
We recently visited a company that, despite being in the most volatile gold market in history, has been able to raise the funds to develop one of the world’s last great gold deposits. Now, this company is on the brink of a truly transformational period. Over the next twelve months they are set to hit a number of high impact milestones… Continue Reading
When I was training to be an investment advisor years ago under the tutelage of the legendary Ivan Moldowan of Pemberton Securities, one of the first things we learned was that under no circumstances were we to go after any brokerage account worth less than $10k. I recall thinking that was a little harsh, and… Continue Reading
After a 238 point drubbing on the Dow one might expect some panic among investors or knee-jerk bearish reactions from market commentators. That would be an incorrect assumption in the current market environment. As the S&P faces a crucial test of key trend support, the equity put/call ratio is no where near a panic level… Continue Reading
I hate to sound smug, but I’ve got a new iPhone 6, and I’m having a great time getting to know what’s fast becoming my new BFF. After managing to sell my old iPhone with a brand similar to Bank My Cell just before I got it, I was in dire need of it to… Continue Reading
Talk to anyone involved in the Canadian diamond business and ask them if they could have convinced banks to raise them $75 million in a bought-deal for their project over the last two decades. My suspicion is they would respond with a resounding “NO!” Today, shares of Mountain Province (MPV:TSX) resumed trading after the company announced late… Continue Reading
Many people I know, myself included, felt that the Taseko Mines’ friendly bid for fellow Hunter Dickinson group company Curis Resources (CUV:TSX) was lowball. This morning, we were reminded why a large takeover premium might not have been warranted. Judge Milhasky, the administrative law judge assigned to case No. 12-005-WQAB in the Arizona Office of Administrative Hearings,… Continue Reading
A busy morning thus far, here is some of what we are reading: Bloomberg – “Fed Scrutiny of Leveraged Loans Grows Along With Bubble Concern” Hulbert – “Wait for one more bounce in stocks before a broad decline” CNN – “1st Ebola diagnosis in the United States: Should we worry?” Mish – “Draghi Pressures ECB… Continue Reading
Chuck Fipke is known as one of the pioneers of the Canadian diamond space after his Dia Met Minerals discovered the Ekati Diamond Mine in the Northwest Territories in 1991. The Ekati mine which is in the Northwest Terratories was the first surface and underground diamond mine in Canada and went into operation in 1998. … Continue Reading
The Weekly chart of the S&P 500 (SPY) is arguably the most important chart out there right now: Click to enlarge The momentum divergences and decreasing volume at each successive high are certainly worth making note of. Notice that the weekly RSI-14 has not fallen below the median line in nearly two years and there… Continue Reading
Roxgold (ROG:TSXV) which is developing the ultra high-grade Yaramoko gold deposit in Burkina Faso has been approved by their banking syndicate for the previously announced $75 million debt package. The loan has a term of 6 years and an interest rate of between LIBOR +4.25% and +4.75%. The mandated banks, which included Societe Generale and Credit Suisse,… Continue Reading
With one day left in the month, September is shaping up to be the worst monthly performance for the senior gold miners (both the GDX and HUI are down roughly 18.5% for the month) since the dreadful month of June 2013: Click to enlarge HUI Gold Bugs Index (Monthly) The gold miners are down 5 weeks in… Continue Reading
Above: Bert Koth of Denham speaking at Mines and Money Hong Kong in 2012. Denham Capital is a $7.9 billion private equity firm that was founded to focus on domestic E&Ps, but has since expanded to power and mining. Since its inception in 2004, Denham has invested hundreds of millions of dollars in the natural resources… Continue Reading
