I came across an interesting article from Bloomberg this morning with some quotes from some big names on gold: “I don’t care if you are Einstein…..It’s impossible to forecast for a week from now and a year from now.” ~ Peter Munk “Nobody really understands gold prices…..And I don’t pretend to really understand them either.” ~… Continue Reading
When I met with Bernie Madoff to see if he would put money into my hedge fund I had no idea he had a scheme. Everyone said later, “We always knew”. But on the way to the meeting, those same people were calling me and saying, “ask him if we could invest.” They would deny… Continue Reading
West Africa has encountered a series of significant set backs recently, including the outbreak of Ebola and the dissolution of the Burkina Faso political framework. One place in West Africa that hasn’t been affected by either Ebola or political instability is Ghana. Fortunately for Asanko Gold (AKG:TSX), their two gold mines – which hold almost 11 million ounces… Continue Reading
Nautilus Minerals (NUS.T) has chartered a vessel for the Solwara 1 seafloor mining project in Papua New Guinea. This is a significant milestone for the company and will trigger the release of $113 million in escrow from joint venture partner Eda Kopa (Papua New Guinea`s state nominee). The ship building will be completed by Fujian… Continue Reading
Copper has long been one of the trickiest markets to trade; it has regularly caught the crowd positioned exactly the wrong way and posted vicious moves in the opposite direction. However, in recent weeks the red metal has been unusually placid as it has oscillated near major support at ~$3.00/lb: Click to enlarge Copper Weekly… Continue Reading
Yesterday we called one of our favourite gold stories, Roxgold (ROG:TSXV) to get an update from management not only on their two recent announcements (1. receiving their mining permit and 2. closing a $30 million bought deal financing), but also on how the political unrest in Burkina Faso is playing out. Roxgold President and CEO… Continue Reading
Recent comments by Bank of Canada governor Stephen Poloz have stirred up a debate that has been percolating for years, but is especially loud during lean economic times. Addressing the issue of high rates of unemployed young people in Canada, Poloz commented that he thinks they should consider working for free. Judging from the response to… Continue Reading
Tahoe Resources (THO.T), the world’s highest grade silver producer, announced an updated mineral reserve and feasibility study for the Escobal mine in Guatemala this morning. Tahoe is one of a just a few primary silver mines in the world generating a profit at current silver prices. The mine is especially profitable compared to its peers as it benefits from… Continue Reading
Robert Friedland’s Ivanhoe Mines (IVN:TSX) and the Department of Mineral Resources (DMR) in South Africa jointly announced today that the mining right for the development and operation of the Platreef project has been finalized and work can resume immediately. Work at Platreef, which will be one of the world’s largest platinum mines, had been delayed since May… Continue Reading
Gold miners, as represented by the HUI (NYSE Arca Gold Bugs Index), gapped below their 2008 lows on the open this morning: Click to enlarge This chart is remarkable considering the magnitude and severity of the Global Financial Crisis (GFC) of 2008 and speaks to the depth of the bear market in gold shares we’re seeing today. However,… Continue Reading
When AD broke up with me and cheated on me I thought I would die. I couldn’t breathe. I couldn’t have ideas. I cut loose my friendships. The vault in my chest sealed shut. Which, of course, brings me to the earthquake of 1906. 10,000 buildings collapsed and fires started to spread all over San… Continue Reading
Economist and Nobel Laureate Vernon Lomax Smith is coming to Vancouver next week to speak at a free event put on by Simon Fraser University and Bank of Montreal (BMO). With record real estate prices and a depressed mining market, the bubble-themed event is well timed for a Vancouver business audience. The talk should be… Continue Reading
Travis and I went to the Lighthouse Labs graduation/Demo Day in Vancouver last night and we are so glad we did. The event was an inspiring chance to meet some up-and-coming web development talent, and see what they’re working on and learn about what matters to them. Web development is an in-demand job, as more… Continue Reading
Greenville Strategic Royalty (GRC.V) reported it’s first profitable quarter this morning, earning net income of $529,000. Management has successfully added 22 royalties since July 2013 averaging ~2 per month and they are discussing paying a dividend to shareholders. Grenville provides royalty based financings to small businesses usually for between $1-$2 million. In exchange they receive a royalty… Continue Reading
There is one sector of the equity market that may be a clear beneficiary from the recent large decline in the price of crude oil, oil refiners. Refiners are entering their most bullish time of the year historically (November through March) and refining margins (crack spreads) are widening: Click to enlarge During the past… Continue Reading
