Amid the doom and gloom of the resource markets, two small cap focused boutique investment firms have decided to combine their shops in an attempt to gain size and weather the storm. This morning, Toronto-based Mackie Research announced it would be acquiring the oil and gas boutique, Jennings Capital. Jennings was founded in Calgary by Rob… Continue Reading
After yesterday’s ugly session it was pretty much a foregone conclusion that gold would knife through the $1180 level, an area of support which it has tested on 3 different occasions since June 2013. As is often the case the breakdown took place in the early morning hours New York time: Gold is currently fumbling… Continue Reading
If you are wondering why there’s a bloodbath in some of the best known junior gold mining names this morning, one of the largest gold stock newsletters in Germany decided to sell everything. Oliver Gross’s Der Rohstoff-Anleger letter is out of the gold market at the urging of his publisher. We are not sure exactly… Continue Reading
Bad news for Petromanas Energy (PMI.tsxv) shareholders this morning, myself included. The company is exploring for oil on shore in Albania’s Berati thrust belt in a joint venture with Royal Dutch Shell, after their first well, Shpirag-2, made a discovery in late 2013. Petromanas has temporarily suspended the Molisht-1 well at 4200 meters depth, which… Continue Reading
“We are contrarian, value-oriented investors in private equity, credit and real estate,” is what Apollo Global says on its website. The firm which was founded by Leon Black in 1990 out of the ashes of investment bank Drexel Burnham Lambert is a pioneer in the private equity space. Today it manages over $150 billion globally… Continue Reading
Since Ghomeshi-gate broke last Friday, the media have been pumping out a myriad of takes on the scandalous story. Initially, many in the world of celebrity and politics (Elizabeth May – my Gawd what a shit-show that was) sided with Ghomeshi, or at least made the statement that his sexual proclivities should not impact his… Continue Reading
Gold stocks were hammered today with many senior producers falling by more than 5%. Barrick Gold (ABX), the world’s largest gold miner, was particularly hard hit; its shares reached levels not seen since 2003 when gold was $330/ounce and copper was below $1/pound: Click to enlarge This chart is truly remarkable. It tells a story… Continue Reading
Cameco (CCO.T), the company investors turn to for guidance on the current state of the uranium industry, released quarterly results this morning. Cameco believes that uranium will remain in surplus for the short term with continuing strong long term fundamentals. At press time the market is not impressed. Cameco shares are off ~3%, trading last at $18.95 per share. Cameco… Continue Reading
If you’ve ever embarked on the painstakingly tedious process of raising seed capital for your company, you know that a dismal 98% of business plans pitched to venture capitalists or accredited angel investors are rejected. And in the off chance that your idea is endorsed, the combined expense of raising funds via traditional financing routes… Continue Reading
Of the talking heads in the gold business, Sprott USA Chairman Rick Rule is perhaps the most direct when it comes to discussing wealth creation, and for that, we at CEO.ca love him. Over the weekend, American investing site, Future Money Trends, published a video of Rule at a secret dinner party introducing Uranium Energy Corp.… Continue Reading
A simple yet powerful technical indicator is flashing a red warning light that stocks are overheated: Click to enlarge NYSE McClellan Oscillator (ratio adjusted) with S&P 500 above 80.30 is the highest the NYSE McClellan Oscilator has read since September 18th, 2013, a date which marked a short term market top from which the S&P… Continue Reading
Pure Gold Mining sell-off smells of an opportunity… Few junior mining companies in the world today have an opportunity like Pure Gold Mining (PGM.TSXV), first covered by Lawrence in the July edition of this newsletter. Pure Gold is an approx. $30 million market cap company that owns the historic Madsen mine in the prolific Red… Continue Reading
Corvus Gold (KOR.T) stock is up 10% (at press time) after hitting high grade intercepts at the North Bullfrog project in Nevada. The company is hoping that a 19,000 meter drill program this year will expand the deposit and that they will find additional high grade ounces. If the deposit is large enough at a decent grade Corvus could… Continue Reading
Total assets in gold exchange traded products reached fresh 5-year lows last week: Click to enlarge In addition, total assets in the Rydex Precious Metals Fund (an excellent gauge of retail investor sentiment) reached 12-year lows yesterday as investors continue to flee the space in disgust: It is interesting to note that as funds continue to… Continue Reading
John Alfred Paulson is an American hedge fund manager and billionaire who heads Paulson & Co, a New York-based firm he founded 20 years ago. He manages nearly $25 billion in assets for global clients. In 2007 Paulson made his name and a large part of his personal fortune (now estimated at $13.5 billion) betting big… Continue Reading
